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2018-03-25 20:04:03Starting a New BusinessEnglishLike any small business owner, you’re familiar with the hard work, late nights, and the ups and downs of running a business. Your role is...https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2018/03/iStock-853926696.jpghttps://quickbooks.intuit.com/au/resources/starting-a-new-business/10-things-every-small-business-owner-will-understand/10 Things Every Small Business Owner Will Understand

10 things every small business owner will understand

2 min read

Like any small business owner, you’re familiar with the hard work, late nights, and the ups and downs of running a business. Your role is by no means easy and being an entrepreneur can be every bit as challenging as it is rewarding. Here are 10 things you know all too well.

1. Your dining table doubles as your desk

When you own your own business, your work tends to follow you home. Sure, dining tables are great for eating – but they’re even better for planning your quarterly forecasts.

Messy desk with paperwork and laptop

2. Your friends always want a discount

You love your friends but you can’t give everyone a discount all the time. Remember to always quote what your business is worth – even to friends and family.

Young girl holding mobile phone

3. A 10-minute lunch break is the norm

Good things come in small packages and for you that means being granted a mere 10 minutes during your busy workday to enjoy a sandwich, or scoff down a pot of instant noodles.

Businessman eating a sandwich

4. Coffee is your lifeline

Coffee, coffee, coffee.

Coffee cups

5. Forget counting sheep, you count inventory

You’re so dedicated to making your business a success it’s not surprising that it’s the first thing you think of when you wake up in the morning, and the last thing before you fall asleep.

Business person with head on desk

6. You’re often running late

Priorities tend to shift when you’re trying to get your business off the ground, making it harder to see your friends and family. You may have developed a little bit of a reputation for running late.

Businessman looking at his watch

7. What’s a holiday?

Taking a holiday when your self-employed is harder than it sounds. Annual leave is no longer a given and even when you do get to take a holiday, your phone keeps ringing.

Man sitting on beach holding laptop and phone8. You’ve become an avid fan of Shark Tank

You’re creative, driven, and often find business inspiration from the world around you. Binge-watching Shark Tank has become one of your favourite leisure-time activities.

Man watching television

9. You love telling people about your job

You’re passionate about your business and more than happy to tell anyone who will listen. You work hard and have every right to be proud of all that you’ve accomplished.

Group of young people chatting

10. You adore your accountant

Anyone who can make keeping the books up-to-date that little bit easier is a saint.

Man working on laptop

Your life may have changed since you decided to start your own business and while it can be tough you’re certainly not alone. For all things small business, check out these helpful resources.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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