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Entrepreneurial Dilemma – What is Enough

In a recent Inc. Magazine article, contributing author Norm Brodsky spoke about the mistakes that entrepreneurs make when they get bored with the business.  Inevitably what happens, he declared, is that people venture into doing things that they are not familiar with or perhaps not even good at.  More often than not it leads to mistakes but this dilemma I would suggest has more to do with just addressing boredom.

A friend in an effort to grow her business decided to make the investment in hiring additional sales people.  It seemed like the right thing to do but the fact of the matter was that these new people could not sell the product / service like she could.  So she ended up spending a lot of money with very little return and she had to let them go; however not before it almost got her into very serious financial trouble.  However if you asked her did she regret doing this her answer is no.

The key message here is that sometimes you have to go through adversity to realize what’s most important.  Entrepreneurs will claim that they want to create and grow a successful business.  But that’s only part of the picture which can sometimes obscure the other equally important “quality of life” piece.  And interestingly, it’s often not until you make a “bad” business decision and compromise the lifestyle piece that the light bulb actually goes off.  Suddenly you have less money and time together with more anxiety.  This typically prompts an evaluation as to what truly matters and “what is enough”.

Too many entrepreneurs get caught up in thinking they want more when they already have enough.  True success lies in when you have the time and money to do what you want to do.  When you figure this out, then your business will prosper to the degree that you want and your quality of life will improve in parallel.

About Bill Sex

Bill Sex is President of New England Coaching and specializes in supporting personal, professional and organizational advancement with specific emphasis on coaching skills, emotional intelligence and employee engagement / motivation.

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