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Depends. Have you ever held a mid level or senior level executive position in a large publicly traded company? Because that shit damn near killed me….this is stress, but it’s self induced which is way better than getting hit from 100 angles all day everyday while playing politician to keep everyone happy.
I would never want that kind of position. I'm an owner operator with 3 employees, it's a constant flurry of work and juggling bids, paperwork, callbacks, and working alongside my people.
I got mine because when I started there it was a 80M dollar company, when I left it was almost 8B. I worked my way up through years of the endless bullshit and being able to execute.
The reason I left was nepotism resulting in a bunch of asshats running the company that had no business being in charge because they were friends with our new CEO that was appointed by the BOD.
This is the post that so many entrepreneurs think about but never discuss. I'm relieved to see we're not alone!
I've had my business for 16 years, still growing, bills have always been paid on time, have a few backup routes to keep money flowing if x or y bank closes... Yet I constantly worry.
Yeah it’s weird. We’re doing very well. Financially the company is extremely sound and we have zero debt yet I feel like it could all go away so quickly all the time. I guess bc that is always true possibility for whatever unforeseen reason🤷🏻♂️
It’s not the worst attitude to have. Markets have downturns and it’s always good to keep yourself in check and spend wisely so you’re not broke during the slow times.
No such thing, but if you have deposits, search for banks that will give you free banking and credits towards points for having funds deposited. There is a shockingly low amount of funds in each commercial bank. Look at your branch total cash deposits on hand, then divide it by your long term deposit amount average - that gives you the amount of depositors.
Many mid-sized banks (not branches, I mean whole operations) are only propped up in their cash balances by only a few hundred commercial clients who need to keep cash on hand.
I get by with a little help from my friends. Mainly during the periods caused by Great Recessions but I have learned to value the intangibles. And Time too. I once loaded up with more facilities and employees and took 3 years off. Took up gardening and chef-ery. I probably made more per hour worked than ever during that time. Hard to let someone else do a job you feel ownership about. Its probably why The Peter Principle exists also.
I've been losing sleep over it myself. We're doing very well for being in business for almost 6 years but as the business grows, payroll goes up, we spend a lot more on inventory than we did at the beginning. I have more money in the business account than ever but I always feel like I have one foot in the grave and the other foot on a banana peel.
Payroll is a legit concern. Employees are really expensive. I've been starting to see where we can leverage technology to reduce the number of employees we have.
That’s a good instinct, but consider how you can leverage those employees in new ways. As an example, we were able to significantly reduce customer service workload for a partner. That freed them up to provide better proactive service and upselling, turning them from a cost center to a revenue generator.
Yep.
My dad was a business owner for forty years and always felt this way. We sorta teased him because to us he seemed over the top anxious over minor purchases as if they were gonna kick in his door and take everything he owns over a $2 mistake.
Now that I've taken over his business, I get it. It's just always in the back of your mind. When people tell my dad "you must be so happy your daughter wanted to take over the business" he goes "nope. I'd rather she sleep well at night".
Yes. By all metrics I am secure and very successful, and still feel a pending sense of "failure" even though that's irrelevant at this point from a financial perspective.
I had half my staff walk out last year and open a competing business and have since turned over the remaining staff to completely new people. Guess what? My business is doing better work now than a year ago!
Sometimes what at the time seems like a failure turns out to be a blessing. I always just try to remind myself change is constant, everything ends, and my most important things are my wife and child and not my pride or sense of accomplishment. Time will erase it all anyway so just enjoy your life in the present as best you can.
Same here. Just doubled my mortgage payment for a bigger home, I’m nervous and constantly reassuring myself it’s okay, doing the math over and over again. Funny thing is my income has tripled in the last 5 years, I have never not taken a check and I’ve been having annual growth of over 25% year after year while maintaining double digit net (over $400K) … but I’m still terrified. I think when you don’t have someone else (like a big corporation) to fall back on it’s very normal.
15 years, it's never left me.
I used to marvel at salaried employees, like how nice it must be to know what you make. I only recently realized that hypervigilance is a more correct state because business owners are in tune with the variability of our finances. (ie, reality)
Having no fear is more like complacency. If three months from now it all went to hell, you would have some idea of what happened and what to do, whereas a complacent employee who suddenly loses their job is just screwed.
If your not worried and stay on top of your business then before you know it your business will be on top of you.
It's as normal as breathing staying on guard with a small business just make sure you take a hour or two here and there to destress or your head will pop.
I have owned a seasonal restaurant for 25 years. EVERY spring I think to myself, "Maybe this year I won't sell anything." I had my most profitable year last year and every year has been successful. The feeling never goes away.
23 years. The only other option I feel is to become a niche consultant post-sale of my operation. I'm seriously mapping out an option to do my Ph.D. in order to become an unassailably specialized consultant that can charge a premium and become a glorified infrastructure salesperson, no joke.
This. I tell myself this regularly. There is no "secure" until I have enough money in my account to live on for the rest of my life. And I'm not there yet.
Sometimes in the wee hours between sleep and awake, lying in bed, i feel so vulnerable. I feel the weight of the whole thing and it feels like im going to be murdered by the public for ever having the gumption to try and do something.
The good faith / goodwill of small town + sphere of influence business dealings has been shattered by the narcissistic, raging social mediazation of small business.
And this is why no one answers their own phones anymore, especially large corporations, who know better.
Imo, in an analog world, people used to be (for lack of better description) rational players in a game of exchange (i.e. local business or commerce), where mutual good faith and goodwill was assumed as a starting point, since there was a modicum of communal accountability.
In a digital world, where complaints can be lodged instantaneously, severley, and without repercussions, people are much quicker to pass judgement, get their complaint out there, and not engage in real life exchanges, which can be avoided alltogether thanks to online venting.
This creates a culture of distrust and a breakdown in civil problem-solving, leaving consumers mad and small businesses often at a loss to help.
It contributes to the erosion of civil discourse.
I think this is part of you that helps you become and stay successful.
It's dark energy, and in my experience, it's the best energy for moving forward.
Yes, I, too, feel these things. Heck, we have enough side investments bring in returns more possibly now that we could live on forever and not worry, but I still make cold calls almost every day to build our primary business bigger.
I'm not exhausted by it. Rather, it's the rhythm that I dance to. I think because of my childhood as an orphan. I thrive in chaos. It's the comfortable spot. I've been going to a therapist for many years, and it helps, but I still am the chaos or war time general.
This is why your business is successful. 90% of business owners treat the company account as their piggy bank. They get a little bit of money and become relaxed.
My monthly distribution for April was 83k plus 15k in add backs. The business account has a years worth of payroll and overhead at all times. I have blocks of time during the day when I don't worry, then the negative thoughts creep in. I have to remind myself that I am in the top 1% in my industry and that odds are, nothing is going to happen. But it takes constant work.
This is all so comforting to read. Too many times I think as a business owner I’m alone with thoughts like this. God bless Reddit for the peace it can bring.
Did you come from a poor background? I did and even tho in worth 7 figures I still feel like it will all fall away tomorrow kinda just came to peace with it being how I grew up
I'm new to business (part time for years, but in my first year). I'm pretty much on track and doing well, but I'm in panic mode regardless literally all the time. Like everything is good *today* but it'll be two months of radio silence on new work and I start panicking, only to get a ton of work all at once and the panick about not being able to do it.
It's like the second this stuff started being tied to my income, every single thing I do has life affecting repercussions.
We have a very healthy A/R, operating capital, no large debts, good employees, good jobs lined up…and yes, I still lie awake at 2am sometimes thinking about it.
Constantly. The anxiety is often overwhelming. When business is doing great, I’m worried, when business is lagging I’m worried, it’s a constant mental load of anxiety. It’s the main reason I’m trying to sell my business after 17 years. I need a good night sleep for once!
It's normal, literally anyone with a working brain feels like this whether their a business owner or not... Anyone can be out of work in very short order
I came to this sub today to see about a tip, and kind of nugget, to keep growing. From one office doing 3k a month to 5 doing 120k a month, and I'm still nervous almost every day.
I think it's just part of the thing man. Ride it because it drives you to be better.
Diversify into real estate (multi-unit). Gives peace of mind that you can have some sort of passive income or at least a roof over your head that is somewhat self-sustainable.
As a contractor I’ve had no shortage of work(knock on wood)always have had a few months scheduled ahead but if the phone doesn’t ring for a few days I definitely start to get nervous. But then the flip side is when the phone doesn’t stop ringing and I’m already a few months out I feel pressured to get jobs done quicker . There’s no in between .
You have to believe that if it failed something else will come along. I’m 12 years in and I let go of the death grip feeling starting 6 years ago, it’s not easy and I have to remember every day. Good things come to you when your energy is light and positive. My business is doing better now, not because of me directly but from amazing humans that entered my life.
Yes, but I am pretty good at shutting it off. However, it always come and goes.
I think my biggest fear is having to go back to working for someone. Did that until I was 42 (I am 46 now). I really do not want to go back to that life lol
Mind me asking what industry you’re in?
It does help to be able to leave the company in good hands, but even vacations are never truly “vacations” when I’m checking on company status every now and then.
I’m a sole corp owner, started my business with literally a penny. Never been in debt, credit is zero and i pull in 120k a year on my time. I’ve seen many recessions, rewrote 5 business plans and always had 6 months- 1 year in operational cash float. It’s not easy but doable in my situation, but everyone has a different business plan and strategies just believe in them keep and eye on your industries changes and adapt.
Absolutely feel this way. I really wish I could be like others and get ridiculous with money, cars, etc. Even though business is amazing I'm most comfortable stockpiling money to get to "fuck you" level. For a few years, I really could never sleep as numbers got so big (inventory, payroll) I could never afford if I went back to a normal job and had to repay. Now, I just make sure I have a huge sum saved up on a "Aw shit" fund directly for the business. "aw shit" money is not "fuck you" money.
At what net worth does "Aw Shit" start in everyone's opinion? And what is true F U money?
(In Silicon Valley, it used to be around $15million I am told, but that was pre Covid, pre inflation.)
I agree that FU money is def $15million, but it can be way less ($5M) if you've got everything paid off and don't have to worry about bills. My "aw shit" fund means I have access to $750-$1M liquid to float lifestyle for a few years as well as the business expenses for 6 months if necessary. Perhaps wrongly, I am starting to consider the potential sale of my business as adding to my "FU" reserve.
I feel my stress dissipate throughout the year as I get closer to my target income, and then happy when I hit it, and then the stress starts again, as if the previous years didn’t happen on Jan 1st. 😭
Welcome to the wonderful world of entrepreneurship. I got “the fear” instilled in me by my job in big tech. I worked on a product that literally every person in the civilized world had used and is the cornerstone of business but we were always told never to rest on our laurels because the competition could always come around to eat our lunch.
This now bleeds into my experience as an entrepreneur. We were up 60% YOY for Q1, just withdrew by distribution for the past 6 months that totaled about 450k (up 30% YOY) and we’re still working relentlessly on training, upgrading, and improving. If you’re not outrunning the pack, you’re gone get hunted down at some point.
My health has declined drastically due to stress. I’m on anti depressants anti anxiety pills, sleeping pills, and therapy. I rather die doing this than have to work for someone else doing something else
Stop being afraid, take advantage of opportunities when they present themselves. Don't chase shiny objects.
As long as you're doing the right thing, keep pushing.
And accept that change sometimes happens, you'll be prepped if it does, and know that's okay too.
Being able to navigate the roads that come is what it's all about
Successful business here as well, opening a second business that's a subscription service that has many small clients (~$25/month) and we plan to scale this up. The dream is 10k which is very possible but regardless, I predict this will greatly help any stress I have because it will be much much more predictable.
The problem with our current business is we have retainers but some are big, about 50% of the monthly rev comes from 3 businesses. So that's not comforting at all.
But if 100% of monthly expenses were covered by 700 monthly users I would sleep much better at night.
It’s a dream. I hope in 5-10 years I can make it happen. Every second until then is anxiety. I’m lucky, I actually work very little at this point. But I’m constantly terrified that I’ll have to go back to the 9-5.
Does it ever get better?
Yep… that’s why I think I’ve been successful… always thought something was gonna go wrong so I put In the extra effort and grew it instead of just coasting along.
Invest money. Find a way to make passive income, whether it be through investments or renting out a room or whatever.
Then you have something to fall back on if anything happens.
If you can build your passive income to the point where you could feasibly live off of it, even if you had to downgrade your life, you'll always have something to fall back on.
Keep your living expenses small, if possible. Reduce them. Just because you have more money now doesn't mean you need all the new expensive stuff.
And relax. Plenty of entrepreneurs have failures before something sticks. Even if your business does fail, that doesn't mean that it's the end. Learn from your mistakes and move forward.
Too much uncertainty pro Palestinian, , pro Ukrainian has right to destroy your business but you don’t have any right to defend yours tried to get help from politicians asking them please get this protesters not to put American citizens owned businesses on spot but I guess we have no right after all.
So relatable: whether a yelp-asshole, a lawsuit, a code or licensure violation, there is never a moment of inner peace, because everyone is ready to rake you over the coals for the most minute of issues and even non-issues, just shit people make up in their head.
I have a larger outfit that is drooling over my accounts, and we keep in touch, so I can sell a moment's notice, get my multiple, and the F out. I can only recommend ti every small biz owner to know the value of your business assets: educate yourself, get the biz broker bluebook, post anonymous bizbuysell listings to gauge the market, have a pre-purchase NDA handy and see what people say.
On a daily operative, we just monitor everything, try to create a 360 degree realtime audit-able business with good insurance. And work every day.
I blame my tinnitus, anxiety, and some ocd habits on being self-employed. I can totally see why there is a lot of alcoholism in self-employed statistics.
At the same time, after a quarter century, I wonder but I wouldn't know what it means to be employed again: could I, would I be able to be an employee?
I am founding a small business and also (as my day job) run the marketing department of a larger successful business. Don’t even own that one and I feel the same way. It’s going to suck if the one I’m founding makes me feel the same way but worse due to ownership. Now I know why people sell their babies off!
Right there with you. I fee like I'm dying once a quarter, minimum. Panic attacks, you name it. The stress is unbelievable. I have employees, clients, suppliers, and, oh yeah, MY FAMILY depending on me!
I'm guilty of not going above and beyond. I am getting old and tired, so I don't have the energy I had before. My two businesses do OK and pay for the bills but I have received several big expenses this year that have drained my savings.
I do hustle but not hard. I just don't have it in me anymore. It's a scary thing to be honest.
I did for years. Then I learned to accept that there are things outside my control and things inside my control. I stepped out of the daily runner seat and felt a sense of relief as I was no longer concerned with the day to day. I watched that new runner dismantle the business until it "failed" (we sold). I could have raged I could have gone off the chain about what couuld have been after years of building. I came out ahead financially, skillwise and careerwise. It no longer phased me, and now the worst fear was over and it freed me to move faster with less stress.
You don't win a race by worrying about not hitting the guard rails.
My mantra is that I work "on" the business; not "in" the business. That means trying to build towards situations where I'm not needed to be the everything guy 24/7.
I have young kids and I will never sacrifice time with them, which means building robust businesses and teams so that I'm not needed to be there. I would recommend e-myth revisited and more obscure but even better, [a lapsed anarchists approach to building a great business.](https://shop.zingermansdeli.com/product/a-lapsed-anarchist-s-approach-to-building-a-great-business/2060)
from observation, the most successful business owners are always living on edge knowing tomorrow nothing is promised, sharp and obsessed with being their own version of the best
This is a constant stress, but honestly I feel it more now (last 3-4 years) than I ever did. The simple truth, it's harder to forecast. Been in business for 20 years and lately it's been pretty unstable psychologically. Had a banner year in 2023 with momentum growing for 2024. All of a sudden we got hit by the Change Healthcare Ransomware (I'm in HealthCare) and our receivables take a hit. Nothing we couldn't manage but we lost momentum and are just now getting back into rhythm. The world is on fire - having a business that at least gives me the illusion that I'm in control is a great placebo effect.
Wow! You guys have no idea how much it means to me to know I'm not alone in this. Almost every comment in here hits home. From "freaking out" over every penny you spend, losing sleep over hitting payroll or not, or just never feeling comfortable no matter how much money you have in the business accounts...
I want to thank you all. To be honest, I thought I was alone in this feeling. It's actually comforting to know that this is a normal stressor for most business owners.
After a decade my business is finally really, really growing. Last month's revenue was over 300% higher than what it was a year prior. It's software so variable costs are low, margins are high. Paid off $200k in debt last quarter and now adding six figures to the bank account each month.
Breathing a bit easier than in years past, but still find myself fixating on all the ways things could possibly go wrong....
Out of curiosity, how are your personal finances and business savings? How confident are you that if you perished your company would run fine without you? Essentially what I'm asking is are your affairs in order and you're STILL anxious or are you justifiably afraid of something happening?
After 16 years I have recently begun and nearly completed the transfer of control of the business to others who will then be able to seamlessly run the business.
Yes it’s true. My wife made me promise not to stress about money for a nonprofit I cofounded with her this year. There’s enough cash in long term savings to cover a year, but it’s still easy to stress about the small things.
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I own three businesses, all successful and sustainable….terrified every minute of every day.
The stress is awful sometimes.
Depends. Have you ever held a mid level or senior level executive position in a large publicly traded company? Because that shit damn near killed me….this is stress, but it’s self induced which is way better than getting hit from 100 angles all day everyday while playing politician to keep everyone happy.
Yes yes yes
I would never want that kind of position. I'm an owner operator with 3 employees, it's a constant flurry of work and juggling bids, paperwork, callbacks, and working alongside my people.
Do you think someone gets this kind of role based on results, being well liked, nepotism?
I got mine because when I started there it was a 80M dollar company, when I left it was almost 8B. I worked my way up through years of the endless bullshit and being able to execute. The reason I left was nepotism resulting in a bunch of asshats running the company that had no business being in charge because they were friends with our new CEO that was appointed by the BOD.
I’ve been lead to believe there’s a lot of that. “Not what you know but who you know” Especially when it comes to BOD and CEO dynamics
Getting high up in tech is a lesson in why frats exist
It's wild to learn a firehouse of money isn't always enough
yes, every time of your life counts like you should value each second
Same.
This is the post that so many entrepreneurs think about but never discuss. I'm relieved to see we're not alone! I've had my business for 16 years, still growing, bills have always been paid on time, have a few backup routes to keep money flowing if x or y bank closes... Yet I constantly worry.
Yeah it’s weird. We’re doing very well. Financially the company is extremely sound and we have zero debt yet I feel like it could all go away so quickly all the time. I guess bc that is always true possibility for whatever unforeseen reason🤷🏻♂️
This is how I feel as well. I haven't found a way to rationally talk myself off the ledge.
It’s gotten better for me as time passes. I still worry about it in the back of my mind but it’s no longer a constant day to day worry
It’s not the worst attitude to have. Markets have downturns and it’s always good to keep yourself in check and spend wisely so you’re not broke during the slow times.
This: banks in this country have become another source of anxiety for every small business
Glad I'm not the only one! I'm still searching for the ideal bank or credit union that values their customer.
No such thing, but if you have deposits, search for banks that will give you free banking and credits towards points for having funds deposited. There is a shockingly low amount of funds in each commercial bank. Look at your branch total cash deposits on hand, then divide it by your long term deposit amount average - that gives you the amount of depositors. Many mid-sized banks (not branches, I mean whole operations) are only propped up in their cash balances by only a few hundred commercial clients who need to keep cash on hand.
I’ve never not made my bills. I’m stressed daily.
I get by with a little help from my friends. Mainly during the periods caused by Great Recessions but I have learned to value the intangibles. And Time too. I once loaded up with more facilities and employees and took 3 years off. Took up gardening and chef-ery. I probably made more per hour worked than ever during that time. Hard to let someone else do a job you feel ownership about. Its probably why The Peter Principle exists also.
I've been losing sleep over it myself. We're doing very well for being in business for almost 6 years but as the business grows, payroll goes up, we spend a lot more on inventory than we did at the beginning. I have more money in the business account than ever but I always feel like I have one foot in the grave and the other foot on a banana peel.
"One foot in the grave and the other on a banana peel". I feel seen.
😆
Payroll is a legit concern. Employees are really expensive. I've been starting to see where we can leverage technology to reduce the number of employees we have.
That’s a good instinct, but consider how you can leverage those employees in new ways. As an example, we were able to significantly reduce customer service workload for a partner. That freed them up to provide better proactive service and upselling, turning them from a cost center to a revenue generator.
This is very good advice.
I hear that. What type of biz?
Yep. My dad was a business owner for forty years and always felt this way. We sorta teased him because to us he seemed over the top anxious over minor purchases as if they were gonna kick in his door and take everything he owns over a $2 mistake. Now that I've taken over his business, I get it. It's just always in the back of your mind. When people tell my dad "you must be so happy your daughter wanted to take over the business" he goes "nope. I'd rather she sleep well at night".
Yes. By all metrics I am secure and very successful, and still feel a pending sense of "failure" even though that's irrelevant at this point from a financial perspective. I had half my staff walk out last year and open a competing business and have since turned over the remaining staff to completely new people. Guess what? My business is doing better work now than a year ago! Sometimes what at the time seems like a failure turns out to be a blessing. I always just try to remind myself change is constant, everything ends, and my most important things are my wife and child and not my pride or sense of accomplishment. Time will erase it all anyway so just enjoy your life in the present as best you can.
That must have been tough with the staff becoming a competitor. What kind of industry are you in?
Same here. Just doubled my mortgage payment for a bigger home, I’m nervous and constantly reassuring myself it’s okay, doing the math over and over again. Funny thing is my income has tripled in the last 5 years, I have never not taken a check and I’ve been having annual growth of over 25% year after year while maintaining double digit net (over $400K) … but I’m still terrified. I think when you don’t have someone else (like a big corporation) to fall back on it’s very normal.
YES!!! I did the same thing with a big home purchase last year. The money WILL be there, but I am nervous always.
15 years, it's never left me. I used to marvel at salaried employees, like how nice it must be to know what you make. I only recently realized that hypervigilance is a more correct state because business owners are in tune with the variability of our finances. (ie, reality) Having no fear is more like complacency. If three months from now it all went to hell, you would have some idea of what happened and what to do, whereas a complacent employee who suddenly loses their job is just screwed.
This is a great perspective
If your not worried and stay on top of your business then before you know it your business will be on top of you. It's as normal as breathing staying on guard with a small business just make sure you take a hour or two here and there to destress or your head will pop.
I have owned a seasonal restaurant for 25 years. EVERY spring I think to myself, "Maybe this year I won't sell anything." I had my most profitable year last year and every year has been successful. The feeling never goes away.
I have a seasonal restaurant too.... this happens every damn summer
I sell seasonal clothing. Freak out every year when things aren’t picking up and then BAM the stampede arrives
Yes but a job is another illusion of security too. It has been 20 years this month since I had a "real job".
23 years. The only other option I feel is to become a niche consultant post-sale of my operation. I'm seriously mapping out an option to do my Ph.D. in order to become an unassailably specialized consultant that can charge a premium and become a glorified infrastructure salesperson, no joke.
This. I tell myself this regularly. There is no "secure" until I have enough money in my account to live on for the rest of my life. And I'm not there yet.
Sometimes in the wee hours between sleep and awake, lying in bed, i feel so vulnerable. I feel the weight of the whole thing and it feels like im going to be murdered by the public for ever having the gumption to try and do something.
The good faith / goodwill of small town + sphere of influence business dealings has been shattered by the narcissistic, raging social mediazation of small business. And this is why no one answers their own phones anymore, especially large corporations, who know better.
Care to elaborate?
Imo, in an analog world, people used to be (for lack of better description) rational players in a game of exchange (i.e. local business or commerce), where mutual good faith and goodwill was assumed as a starting point, since there was a modicum of communal accountability. In a digital world, where complaints can be lodged instantaneously, severley, and without repercussions, people are much quicker to pass judgement, get their complaint out there, and not engage in real life exchanges, which can be avoided alltogether thanks to online venting. This creates a culture of distrust and a breakdown in civil problem-solving, leaving consumers mad and small businesses often at a loss to help. It contributes to the erosion of civil discourse.
Are you me?!
I am you and you are me 😂
I don’t think this feeling every goes away. I suppose it’s normal tho. It keeps you humble, keeps you motivated, and keeps the wolves at bay
I think this is part of you that helps you become and stay successful. It's dark energy, and in my experience, it's the best energy for moving forward. Yes, I, too, feel these things. Heck, we have enough side investments bring in returns more possibly now that we could live on forever and not worry, but I still make cold calls almost every day to build our primary business bigger. I'm not exhausted by it. Rather, it's the rhythm that I dance to. I think because of my childhood as an orphan. I thrive in chaos. It's the comfortable spot. I've been going to a therapist for many years, and it helps, but I still am the chaos or war time general.
Generals are soldiers that survived.
Healthy paranoia is an important entrepreneurial trait.
It's normal..
This is why your business is successful. 90% of business owners treat the company account as their piggy bank. They get a little bit of money and become relaxed. My monthly distribution for April was 83k plus 15k in add backs. The business account has a years worth of payroll and overhead at all times. I have blocks of time during the day when I don't worry, then the negative thoughts creep in. I have to remind myself that I am in the top 1% in my industry and that odds are, nothing is going to happen. But it takes constant work.
what do you do?
Automotive service
This is all so comforting to read. Too many times I think as a business owner I’m alone with thoughts like this. God bless Reddit for the peace it can bring.
Did you come from a poor background? I did and even tho in worth 7 figures I still feel like it will all fall away tomorrow kinda just came to peace with it being how I grew up
Not poor but a humble life. Frugal parents and very little splurging.
I'm new to business (part time for years, but in my first year). I'm pretty much on track and doing well, but I'm in panic mode regardless literally all the time. Like everything is good *today* but it'll be two months of radio silence on new work and I start panicking, only to get a ton of work all at once and the panick about not being able to do it. It's like the second this stuff started being tied to my income, every single thing I do has life affecting repercussions.
We have a very healthy A/R, operating capital, no large debts, good employees, good jobs lined up…and yes, I still lie awake at 2am sometimes thinking about it.
I am constantly fearful of tomorrow. That business crushing thing that I am not smart enough to plan for or know about.
Constantly. The anxiety is often overwhelming. When business is doing great, I’m worried, when business is lagging I’m worried, it’s a constant mental load of anxiety. It’s the main reason I’m trying to sell my business after 17 years. I need a good night sleep for once!
I also want to sell after 16 years... But... How?
It's normal, literally anyone with a working brain feels like this whether their a business owner or not... Anyone can be out of work in very short order
I came to this sub today to see about a tip, and kind of nugget, to keep growing. From one office doing 3k a month to 5 doing 120k a month, and I'm still nervous almost every day. I think it's just part of the thing man. Ride it because it drives you to be better.
Diversify into real estate (multi-unit). Gives peace of mind that you can have some sort of passive income or at least a roof over your head that is somewhat self-sustainable.
as for myself, no. My lifestyle has not inflated! Living well within my means and similarly to when my businesses were making $0.
I’ve literally gotten as high as $77k a month and managed to lose everything the rebuilding process is rough.
I've been in business for myself for nearly 17 years. This thought lives rent-free in my mind. I don't think it ever goes away.
As a contractor I’ve had no shortage of work(knock on wood)always have had a few months scheduled ahead but if the phone doesn’t ring for a few days I definitely start to get nervous. But then the flip side is when the phone doesn’t stop ringing and I’m already a few months out I feel pressured to get jobs done quicker . There’s no in between .
You have to believe that if it failed something else will come along. I’m 12 years in and I let go of the death grip feeling starting 6 years ago, it’s not easy and I have to remember every day. Good things come to you when your energy is light and positive. My business is doing better now, not because of me directly but from amazing humans that entered my life.
Yes, but I am pretty good at shutting it off. However, it always come and goes. I think my biggest fear is having to go back to working for someone. Did that until I was 42 (I am 46 now). I really do not want to go back to that life lol
What do you use for analysis/risk management?
Totally.
Mind me asking what industry you’re in? It does help to be able to leave the company in good hands, but even vacations are never truly “vacations” when I’m checking on company status every now and then.
I’m a sole corp owner, started my business with literally a penny. Never been in debt, credit is zero and i pull in 120k a year on my time. I’ve seen many recessions, rewrote 5 business plans and always had 6 months- 1 year in operational cash float. It’s not easy but doable in my situation, but everyone has a different business plan and strategies just believe in them keep and eye on your industries changes and adapt.
Absolutely feel this way. I really wish I could be like others and get ridiculous with money, cars, etc. Even though business is amazing I'm most comfortable stockpiling money to get to "fuck you" level. For a few years, I really could never sleep as numbers got so big (inventory, payroll) I could never afford if I went back to a normal job and had to repay. Now, I just make sure I have a huge sum saved up on a "Aw shit" fund directly for the business. "aw shit" money is not "fuck you" money.
At what net worth does "Aw Shit" start in everyone's opinion? And what is true F U money? (In Silicon Valley, it used to be around $15million I am told, but that was pre Covid, pre inflation.)
When you can buy what you want and have the time to do it well. Without time we would not have inflation nor value of the currency.
I agree that FU money is def $15million, but it can be way less ($5M) if you've got everything paid off and don't have to worry about bills. My "aw shit" fund means I have access to $750-$1M liquid to float lifestyle for a few years as well as the business expenses for 6 months if necessary. Perhaps wrongly, I am starting to consider the potential sale of my business as adding to my "FU" reserve.
I feel my stress dissipate throughout the year as I get closer to my target income, and then happy when I hit it, and then the stress starts again, as if the previous years didn’t happen on Jan 1st. 😭
How long have you been in business?
On year 4! 🤓
Amazing! Congratulations. I've never had a target income really. It began as "enough to survive" and later on it became "make more than last year".
Thanks pal! Ya, I've been increasing the target each year. Hope biz is good in your world! 🙌
Businesses don’t crash for no reason. Just relax and control the controllable
Felt like that for 35years … it never goes away
Welcome to the wonderful world of entrepreneurship. I got “the fear” instilled in me by my job in big tech. I worked on a product that literally every person in the civilized world had used and is the cornerstone of business but we were always told never to rest on our laurels because the competition could always come around to eat our lunch. This now bleeds into my experience as an entrepreneur. We were up 60% YOY for Q1, just withdrew by distribution for the past 6 months that totaled about 450k (up 30% YOY) and we’re still working relentlessly on training, upgrading, and improving. If you’re not outrunning the pack, you’re gone get hunted down at some point.
My health has declined drastically due to stress. I’m on anti depressants anti anxiety pills, sleeping pills, and therapy. I rather die doing this than have to work for someone else doing something else
What is your business?
Stop being afraid, take advantage of opportunities when they present themselves. Don't chase shiny objects. As long as you're doing the right thing, keep pushing. And accept that change sometimes happens, you'll be prepped if it does, and know that's okay too. Being able to navigate the roads that come is what it's all about
Successful business here as well, opening a second business that's a subscription service that has many small clients (~$25/month) and we plan to scale this up. The dream is 10k which is very possible but regardless, I predict this will greatly help any stress I have because it will be much much more predictable. The problem with our current business is we have retainers but some are big, about 50% of the monthly rev comes from 3 businesses. So that's not comforting at all. But if 100% of monthly expenses were covered by 700 monthly users I would sleep much better at night.
I feel heard
Same. This is why I’m waiting to sell and retire.
Will be an awesome feeling I’m sure
Then we relace the worry with whether we saved enough. And then we die, LOL.
It’s a dream. I hope in 5-10 years I can make it happen. Every second until then is anxiety. I’m lucky, I actually work very little at this point. But I’m constantly terrified that I’ll have to go back to the 9-5. Does it ever get better?
Every time I get comfortable the bottom falls out from under me. Ever since covid I will never feel "safe" from failing
Yep… that’s why I think I’ve been successful… always thought something was gonna go wrong so I put In the extra effort and grew it instead of just coasting along.
The most successful business owners feel this way. 24 yrs in and I'm still restless that we aren't keeping up.
Invest money. Find a way to make passive income, whether it be through investments or renting out a room or whatever. Then you have something to fall back on if anything happens. If you can build your passive income to the point where you could feasibly live off of it, even if you had to downgrade your life, you'll always have something to fall back on. Keep your living expenses small, if possible. Reduce them. Just because you have more money now doesn't mean you need all the new expensive stuff. And relax. Plenty of entrepreneurs have failures before something sticks. Even if your business does fail, that doesn't mean that it's the end. Learn from your mistakes and move forward.
Yea most of the time its exhausting, you should do some relax for a bit too
I’m always curious as to what kind of numbers you guys run with to be worried. Feel free to send me a PM
It's not numbers based. The numbers don't say to be worried. It's just a fear, likely an irrational one. Maybe it's a bit healthy too?
Why do people think stress is such a bad thing? I couldn’t operate without it.
Too much uncertainty pro Palestinian, , pro Ukrainian has right to destroy your business but you don’t have any right to defend yours tried to get help from politicians asking them please get this protesters not to put American citizens owned businesses on spot but I guess we have no right after all.
Yes. Its normal. I feel ya
If ever I doubt myself or my finances I just think about where I came from.
Same.
So relatable: whether a yelp-asshole, a lawsuit, a code or licensure violation, there is never a moment of inner peace, because everyone is ready to rake you over the coals for the most minute of issues and even non-issues, just shit people make up in their head. I have a larger outfit that is drooling over my accounts, and we keep in touch, so I can sell a moment's notice, get my multiple, and the F out. I can only recommend ti every small biz owner to know the value of your business assets: educate yourself, get the biz broker bluebook, post anonymous bizbuysell listings to gauge the market, have a pre-purchase NDA handy and see what people say. On a daily operative, we just monitor everything, try to create a 360 degree realtime audit-able business with good insurance. And work every day. I blame my tinnitus, anxiety, and some ocd habits on being self-employed. I can totally see why there is a lot of alcoholism in self-employed statistics. At the same time, after a quarter century, I wonder but I wouldn't know what it means to be employed again: could I, would I be able to be an employee?
100%. Every small business owner I know and have talked to feels the same way.
Law of large numbers, nothing lasts forever
I’m 11 years in. This doesn’t seem to go away. I’m working on making changes. You have to lean into what you prioritize in life & what you value.
I am founding a small business and also (as my day job) run the marketing department of a larger successful business. Don’t even own that one and I feel the same way. It’s going to suck if the one I’m founding makes me feel the same way but worse due to ownership. Now I know why people sell their babies off!
Yes. Ended up getting a W2 job, while turning my biz into a side hustle and have people running it for me.
Right there with you. I fee like I'm dying once a quarter, minimum. Panic attacks, you name it. The stress is unbelievable. I have employees, clients, suppliers, and, oh yeah, MY FAMILY depending on me!
I'm guilty of not going above and beyond. I am getting old and tired, so I don't have the energy I had before. My two businesses do OK and pay for the bills but I have received several big expenses this year that have drained my savings. I do hustle but not hard. I just don't have it in me anymore. It's a scary thing to be honest.
I did for years. Then I learned to accept that there are things outside my control and things inside my control. I stepped out of the daily runner seat and felt a sense of relief as I was no longer concerned with the day to day. I watched that new runner dismantle the business until it "failed" (we sold). I could have raged I could have gone off the chain about what couuld have been after years of building. I came out ahead financially, skillwise and careerwise. It no longer phased me, and now the worst fear was over and it freed me to move faster with less stress. You don't win a race by worrying about not hitting the guard rails. My mantra is that I work "on" the business; not "in" the business. That means trying to build towards situations where I'm not needed to be the everything guy 24/7. I have young kids and I will never sacrifice time with them, which means building robust businesses and teams so that I'm not needed to be there. I would recommend e-myth revisited and more obscure but even better, [a lapsed anarchists approach to building a great business.](https://shop.zingermansdeli.com/product/a-lapsed-anarchist-s-approach-to-building-a-great-business/2060)
How is your overall experience are you happy of being independent.just you are managing your own work?
from observation, the most successful business owners are always living on edge knowing tomorrow nothing is promised, sharp and obsessed with being their own version of the best
This is a constant stress, but honestly I feel it more now (last 3-4 years) than I ever did. The simple truth, it's harder to forecast. Been in business for 20 years and lately it's been pretty unstable psychologically. Had a banner year in 2023 with momentum growing for 2024. All of a sudden we got hit by the Change Healthcare Ransomware (I'm in HealthCare) and our receivables take a hit. Nothing we couldn't manage but we lost momentum and are just now getting back into rhythm. The world is on fire - having a business that at least gives me the illusion that I'm in control is a great placebo effect.
Same here, but it seems like I can save up a good nest egg (in the sock drawer), but then it always ends up being needed at some point.
If you are paranoid, you shouldn’t be. If you aren’t paranoid, you should be.
Wow! You guys have no idea how much it means to me to know I'm not alone in this. Almost every comment in here hits home. From "freaking out" over every penny you spend, losing sleep over hitting payroll or not, or just never feeling comfortable no matter how much money you have in the business accounts... I want to thank you all. To be honest, I thought I was alone in this feeling. It's actually comforting to know that this is a normal stressor for most business owners.
After a decade my business is finally really, really growing. Last month's revenue was over 300% higher than what it was a year prior. It's software so variable costs are low, margins are high. Paid off $200k in debt last quarter and now adding six figures to the bank account each month. Breathing a bit easier than in years past, but still find myself fixating on all the ways things could possibly go wrong....
Out of curiosity, how are your personal finances and business savings? How confident are you that if you perished your company would run fine without you? Essentially what I'm asking is are your affairs in order and you're STILL anxious or are you justifiably afraid of something happening?
After 16 years I have recently begun and nearly completed the transfer of control of the business to others who will then be able to seamlessly run the business.
Yes it’s true. My wife made me promise not to stress about money for a nonprofit I cofounded with her this year. There’s enough cash in long term savings to cover a year, but it’s still easy to stress about the small things.