I bumped into an old friend in York last week. He was wearing a suit. And a tie. This was the man who became bored with dress-down Friday – and dress-down every other day of the week – when the rest of us were still learning not to wear a striped tie with a check shirt…
There was only one possible explanation.
“Congratulations,” I said. “You’ve finally made an honest woman of Claire. Where is she?”
He didn’t laugh. “Other end of the scale I’m afraid, Ed. Funeral. My second in two weeks. And both of them not much older than us.”
We’ve all been there: mentioned someone in conversation only to hear, ‘Hasn’t anyone told you? Last Thursday. No warning, nothing.” And inevitably the person being discussed was ‘not much older than us.’
That meeting with my friend played on my mind for the next few days. One thing I am sure of is that there is an ever-increasing level of stress in the average entrepreneur’s life. A few years ago people e-mailed or phoned. Now there is myriad of different ways of contacting someone: whatever you turn off, something else will bleep just as you sit down to dinner.
And we all know the dangers of stress.
So that chance meeting with my friend stayed with me – not just because we’d been talking about someone close to our own age, but because the conversation posed a question that’s absolutely central to The Alternative Board.
You’ve started a business. You know what you want to achieve: you know what you’re capable of achieving. And you’re determined to get there.
So what do you do? How do you react when someone says, ‘haven’t you heard?’
Do you take it as a signal to run at 100mph in case the same thing happens to you and you never realise your potential?
Or do you stop and smell the roses? Pay attention to your work/life balance? Remind yourself that no-one’s last words have ever been, ‘I wish I’d spent more time at the office.’
The more I thought about it the more I realised I’d seen business owners – perhaps without even recognising it – struggling with the same dilemma. And not just as a one-off.
It’s a problem that raises it head, in different forms, at different stages of your entrepreneur’s journey.
What should I do? Put in the time? Re-invest the cash? And build a company that will really be worth something in 10 or 20 years’ time?
Or realise that I might not get there – and milk the business for all its worth and take my rewards in the here and now.
The answer, of course, is that there is no right answer. The right answer depends on your own individual personality and how you want to live your life. As everyone who knows me will recognise, I’m in the ‘building a business’ camp – and I’m determined to enjoy the journey along the way, sharing that journey with my family and my friends.
Yes, I could be in the office every minute of every day – but I remember waking up one Tuesday morning early in my TAB York days. It was a morning like today: early May and the sun was shining in through the window. I looked at the pile of paperwork on my desk and went off to play 9 holes of golf.
It was a moment when I suddenly appreciated the freedom the decision to start my own business had given me – and when I knew I’d made the right decision in Newport Pagnell service station.
Not every entrepreneur would have taken that decision: some would have ploughed through the paperwork. The important thing, I think, is to recognise what works for you – and what you want from your business.
Whatever choice you make – whether you take your rewards now or later – remember that the business is working for you. It is emphatically not the other way around.