Do you worry about the profitability of your business?
Do you benchmark it against various unknown, unverified, unreasonable, and, when you think about it, irrelevant standards?
I know I do.
There are all sorts of business 'experts' who know everything about you and your business, having never met you!
And there are plenty of boasters, who will exult all kinds of ideals about their 'hugely profitable 3-year-old business with a fantastic team, 1000s of social media followers and their life of comfort' and (self-proclaimed) fame.
These people are not necessary for you (or me).
You're an experienced business owner who knows the most critical job for any business owner is to stay in business.
For every week, month and year that you have more money coming in to your business than going out, you are a success.
Business is tough.
Very few people have an education in running a successful small business.
Most small business owners have an education in a trade, a profession, or other useful technical skill, like retail, hospitality or farming.
You're likely a lawyer, an accountant, a tradie, an architect, a bookseller, a trained health professional like me, or something similar.
I spent four years, full-time at University, learning how to be a physiotherapist.
Since the early days of my physio career, I've spent most of my career running a business in the industry that I trained in.
I didn't do four years of full-time study on how to run a successful small business.
I learnt on the run.
I learnt in the cracks and crevices of actually running my business, day-by-day-by-day.
I learnt on the job.
I've had plenty of business mentors to support me - but not mentors who were by my side in the meeting room as I made decisions to run my business.
When training to be a technician (physio in my case; lawyer, accountant, etc in yours), I had a very curated education as to become competent in the fundamentals of my technical job.
As a business owner, I've mostly been on my own.
No experienced mentor was paid to be with me daily to provide real-time feedback on my development, like when I was a Uni student.
What are the competencies of being a small business owner?
I'm not sure.
I haven't had time to find out.
But, I can assure you, those standards are NOT the unknown, unverified, unreasonable, and irrelevant standards you probably read online daily.
The number one job of a business owner is to stay in business.
If you're in business, you pay yourself an appropriate salary* and, with more money coming in to your business than going out, you are a success.
Of course, you can do more, and at some stage you will get to most of those things that are on your mind or your to-do list.
But, for now, know that you are successful and quit comparing yourself to the irrelevant standards of people who don't know you, your business, your dreams or what's important to you.
Keep at it.
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* This is important: paying yourself an appropriate salary is needed if you've been in business for 5 years or more. If you're not there yet, make that a goal for the next year or so.
PS - In 2025, I am working with small business owners to simplify and strengthen their business culture. HERE's how I could help you.