No Stupid Questions

3403 readers

43 users here now

There is no such thing as a Stupid Question!

Don't be embarrassed of your curiosity; everyone has questions that they may feel uncomfortable asking certain people, so this place gives you a nice area not to be judged about asking it. Everyone here is willing to help.

ex. How do I change oil
ex. How to tie shoes
ex. Can you cry underwater?

Reminder that the rules for lemmy.ca still apply!

Thanks for reading all of this, even if you didn't read all of this, and your eye started somewhere else, have a watermelon slice 🍉.

founded 3 years ago

MODERATORS

admin@lemmy.ca

Business Owner Mindset without Becoming a Finance Bro? (lemmy.ca)

submitted 1 month ago by archipherous@lemmy.ca to c/nostupidquestions@lemmy.ca

37 comments fedilink hide all child comments

I need some advice on making the psychological shift from being a business employee to a business owner. I started a couple of businesses five years ago, and I'm surviving as it is, but I'm right on the lower limit. I can feel that it's my own psychology that is holding me back. I don't struggle with the practical running of the business, my problem is feeling like an exploitative schmuck because I'm charging people money for stuff. I can push just enough to let myself survive, but after that I freeze. It's a big block for me, and I just can't seem to get past it on my own.

I know there are tons of business self-help books out there, but I don't have the time/money to sift through all of them to find the non-icky diamonds in the rough. And I figure there have to be at least a few people out there who have made this transition and faced the same problems. So:

Have you confronted this problem for yourself? How did you approach it?
Were there any resources you found helpful to wrap your head around the transition?
Do you have any experience with business coaches and/or associations, and were they helpful (ie. worth the money)?
Are there any Lemmy/Reddit/Discord/other groups you found supportive/helpful?

Thanks much in advance,

~Archie

you are viewing a single comment's thread
view the rest of the comments

[–] KanadrAllegria@lemmy.ca 2 points 1 month ago (1 children)

You have gotten a lot of good advice already...

I'm not a business owner or entrepreneur , but in my opinion, you should be able to offer your service for at least enough to pay yourself minimum wage for your own time, plus enough to cover the cost of your business licence, commercial rent, utilities, supplies, shipping, or what ever other expenses you may have.

Think of it as if you are 2 people: the business owner and the employee of the business. In any business the employee needs to be paid at least minimum wage, and the business owner needs to be able to cover all other business costs, otherwise the business is not sustainable.

Maybe it would help to put your earnings into 2 bank accounts, one for business expenses and one for your own "wages".

That's my two cents, hopefully it made sense.

[–] archipherous@lemmy.ca 3 points 1 month ago

It does help. I've got the banking stuff settled, but the employer/employee is a good way of looking at it that I hadn't considered before. Thanks :)