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Defining success is difficult
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Posted by Noel [Email] (more from Noel) on Sat, 13 Sep 2008 15:08:55 Share Post by Email
In Reply to: OT:long term business advice, IdiotSam, Fri, 12 Sep 2008 20:35:17
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You have a business that supports you, that gives you satisfaction, and may be able to grow in the future. None of this sucks. As Herb and others note, how do YOU define success? And remember there are levels of success. Measure it based on how happy you are, not just how much you make.

I've been on my own for 12 years as a sole practitioner, primarily doing marketing communications consulting. I specialize in one industry and wear a lot of hats--consultant, writer, video producer, market researcher. I could expand by doing more biz development, but I really don't want to manage a dozen projects and people at time. Been there, done that. So I use trusted subs for some stuff, partner with other solo acts on other projects, and we all come away happy.

The downside is it's not a business I can really sell, and am not making as much as I could if I expanded, but at the same time I have deep relationships with some very loyal clients some of which I've had for nearly a decade.

As you note, there a peaks and valleys, but this is true no matter the size of a business. You just adapt to it. For me, I found the key was to build a stable core of business that I could count on (and live on), then the rest is gravy. Some years are good (this one, for example) other years are not (the last two had some challenges). But I couldn't go back to working for a company.

I'm not a joiner, so I'm not sure of the value of trade organizations unless they are ones with regular contact with others. But I have one as a client and the members do seem to get a lot out of it. I do know you get out of one what you put in.

Good luck. Being your own boss can be hard, but it's really a good way to go thru life.

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