Lunch Buckets.
Summer is officially here.
I am blessed to live on Vancouver Island. We live and work on our fairly large rambling property. We have a workshop and an office. We are conveniently situated five minutes from the ferry terminal in one direction, and the airport in the other.
It's the perfect location for a small business - especially if you are like us and don't want to live on the Mainland in the City.
We love the quality of our life, being near the ocean. And happily, lots of our customers are commercial fishermen - so it all works out.
You know what else is great?
Everyone and their dog gets to come and spend their summer vacation at our place. Why wouldn't you? There's room for a camper or two, we're near the River for swimming, and the ocean for fishing. And better yet, my husband has a boat - so free fishing too!
Here's the problem.
Business doesn't stop for summer. Not if you want to keep revenue coming in.
Before I became an entrepreneur, I made that fatal error. One of the BIG attractions for me was that I would be my own boss - boss of my own time!
But when you are an entrepreneur - you have a different boss - the market place. Which doesn't pay you for two weeks of sunny vacation every year, Stat holidays or sick leave. Or maternity leave, time off for dentist appointments, Christmas, bereavements or anything at all except your product or service.
And if your product or service isn't available - well, the market will just go elsewhere. To another entrepreneur who isn't out fishing.
The old adage is correct : Entrepreneurs are people who work 80 hours a week, so they don't have to work 40 hours a week for someone else.
So why do it?
I tried to explain to a dear friend of ours who just doesn't get it.
For over 30 years, he has been employed for the same company, gets overtime, paid leave and a retirement plan.
Who phones up and wants to come fishing for the same two weeks every year - and can't understand why we can't guarantee that we will be around.
He has a "lunch bucket" mentality. And I don't mean this in a derogatory way.
Some people make the choice to take a pay cheque every two weeks, and regular (paid) vacations.
They don't understand why on earth we would put ourselves through the pain and poverty of setting up a business, with little benefit to show - at least in the short term.
We do it for this reason.
To create something that is ours. To build a legacy. And of course to make a pile of profit - but we know that we have to wait.
Entrepreneurs know all about delayed gratification. We choose to forgo the regularity and security for something bigger and better in the long term.
We might not have the flexibility of time off when we want it - when the fishing is good, for example - but, when our friends are still packing their lunch buckets, we have made the gamble that we will have financial freedom.
We will have foregone the vacations and paid leave now, for something better than a fixed income in our retirement.
It is a gamble. We take the risk of course, that it might not work out. We take the risk that we are working hard NOW for a future that isn't guaranteed.
But when risks and sacrifice are high - as long as we do the hard work now - the rewards are great too.
And I'll take that over a lunch bucket any day.
I am blessed to live on Vancouver Island. We live and work on our fairly large rambling property. We have a workshop and an office. We are conveniently situated five minutes from the ferry terminal in one direction, and the airport in the other.
It's the perfect location for a small business - especially if you are like us and don't want to live on the Mainland in the City.
We love the quality of our life, being near the ocean. And happily, lots of our customers are commercial fishermen - so it all works out.
You know what else is great?
Everyone and their dog gets to come and spend their summer vacation at our place. Why wouldn't you? There's room for a camper or two, we're near the River for swimming, and the ocean for fishing. And better yet, my husband has a boat - so free fishing too!
Here's the problem.
Business doesn't stop for summer. Not if you want to keep revenue coming in.
Before I became an entrepreneur, I made that fatal error. One of the BIG attractions for me was that I would be my own boss - boss of my own time!
But when you are an entrepreneur - you have a different boss - the market place. Which doesn't pay you for two weeks of sunny vacation every year, Stat holidays or sick leave. Or maternity leave, time off for dentist appointments, Christmas, bereavements or anything at all except your product or service.
And if your product or service isn't available - well, the market will just go elsewhere. To another entrepreneur who isn't out fishing.
The old adage is correct : Entrepreneurs are people who work 80 hours a week, so they don't have to work 40 hours a week for someone else.
So why do it?
I tried to explain to a dear friend of ours who just doesn't get it.
For over 30 years, he has been employed for the same company, gets overtime, paid leave and a retirement plan.
Who phones up and wants to come fishing for the same two weeks every year - and can't understand why we can't guarantee that we will be around.
He has a "lunch bucket" mentality. And I don't mean this in a derogatory way.
Some people make the choice to take a pay cheque every two weeks, and regular (paid) vacations.
They don't understand why on earth we would put ourselves through the pain and poverty of setting up a business, with little benefit to show - at least in the short term.
We do it for this reason.
To create something that is ours. To build a legacy. And of course to make a pile of profit - but we know that we have to wait.
Entrepreneurs know all about delayed gratification. We choose to forgo the regularity and security for something bigger and better in the long term.
We might not have the flexibility of time off when we want it - when the fishing is good, for example - but, when our friends are still packing their lunch buckets, we have made the gamble that we will have financial freedom.
We will have foregone the vacations and paid leave now, for something better than a fixed income in our retirement.
It is a gamble. We take the risk of course, that it might not work out. We take the risk that we are working hard NOW for a future that isn't guaranteed.
But when risks and sacrifice are high - as long as we do the hard work now - the rewards are great too.
And I'll take that over a lunch bucket any day.
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