The Difference Between Owning and Running a Successful Business
There are several big differences between owning your own business and running a business that someone else owns. For one, there are obvious responsibility differences. Business owners have to bear every aspect of a successful business in mind, from hiring professionals, to boosting revenues, and making enough in sales to cover bi-weekly payouts. Whereas, business runners, or managers, have to concern themselves with customer service and the safety of everyone in the store. Other differences to owning and running a successful business include:
Stress Vs. Exhaustion
Stress and exhaustion comes with both running AND owning a successful business, but one moreso than the other. At the end of the day, a manager can leave the stress at work. Whereas, business owners have to take the stress home with them. Their work is rarely done, as they made the decision to open and maintain a successful, popular business. And, of course, all stress leads to some levels of exhaustion. The kind of exhaustion that makes you want to throw yourself down on the bed and be asleep before your head settles into the pillows.
Thinking for the Long Term
Managers that run a business have the options of sticking with a business or seeking another position elsewhere. However, business owners often lose everything when they allow their business to flounder. They have to think for the long-term. Not just with money, but with the entire success and failure of the business that they opened, owned, and maintained. You could be doing anything—from pursuing a lucrative career as a franchise development consultant, to focusing on building a brand from the ground up. It doesn’t make a difference. Business owners can rarely drop everything on a whim to change career positions. Which brings you to the next point of career versus job.
Career Vs. Job
Most business managers look at their position as merely a job. Something to pay the bills and keep food on the table for their families. Whereas, business owners have to look at their businesses as long-term careers. Not only to feed their families, but to succeed in the economic world—big-time. Managers have a bit more freedom to change their minds, but it can be harder for business owners to make that sort of drastic, life-altering decision.
Business managers are open to more opportunities outside of running a business. They can do more in terms of their work and careers. However, business owners, once they have made the decision to open and own a successful business, are locked into a steadfast position until that endeavor succeeds or fails.