u/Envirocare1

There are many traits that a business owner needs to have to be successful.

The top 3 for me are the following:

1. Adaptability
2. Resilience
3. Accountability

Of the 3, one stands above all the rest, it’s resilience. Without it the average business owner meets with failure and with it they rise to the top.

Resilience is the ability to recover from setbacks, adapt to difficult circumstances, and keep moving forward rather than giving up.

The ability to get knocked down, learn from it, get back up, and keep going is by far and away the personality trait that breeds success in must individuals.

What happens without resilience?

Giving up too soon when things get difficult.

Poor decisions under pressure because frustration takes over.

Blaming others instead of figuring out what can be changed.

Losing confidence after a failure or disappointing result.

Missing opportunities because fear of another setback prevents action.

Can resilience be learned? In my opinion, yes and here’s how.

Experience setbacks and realize that you can survive them.

Learn from failure instead of treating it as a personal defeat.

Stay focused on what you can control and stop worrying about the things you can’t

Take action when things are uncertain rather than waiting for certainty. Action alone separates the powerful from the powerless

Develop perspective understand that one bad month, lost employee, or failed idea doesn’t define the business

In the end all business owners must find their own way. It’s part of the deal. As a franchise consultant and former business owner myself I often coach clients and part of that coaching involves taking advantage of resiliency and the other part focuses on developing in.

In my opinion its the subtle advantage a person needs. This is especially true when starting a business or trying to grow one.

The Question

What is the biggest setback you faced in business and what did it teach you about being resilient?

As a semi retired 57 year old who sold a business, I have had the opportunity to look back and truly think on the what made me successful.

My own home services startup was quite a ride for 28 years which culminated in a successful exit and sale. During that entire period I was proud to be successful and self sufficient. I also was under the mistaken impression that I was the most important person to the business.

Yet, after I sold the business it still exists and churns out revenue for the company that purchased it. So, if I’m not there and everything still runs, what is the most common denominator?

Great Employees!

I’ve come to the realization that while I made the decisions my staff executed them. And the truth is, they were/are great at it.

Sure, I was there steering the ship, making good decisions in important areas, but I personally had ‘t been an actual field operator
for years!

My saving grace for my own well being is that I treated my 25-30 employees incredibly well. As testament to this I had grown men in my office getting weepy when news of the sale hit. Some of them were actually people who I never thought actually cared about me or the business, but there they were.

I left on good terms with most everyone and some of my old employees are thriving at the new company. Some sadly left as working for a corporation is different than working for a family run operation. I guess that’s just how it goes.

The statement for people wanting to start a business is hire well. The question for current employers is, are you treating your employees as well as you could?

I wish more people knew when they’re thinking about leaving corporate is that you don’t necessarily have to start a business from zero if that’s the route you’re pursuing.

For a lot of people, the biggest obstacle is money, right?

You’ve spent 15, 20, maybe 30 years building up your 401(k), and then you look at it and think you have to tough it out until 59 1/2

However, there are actually ways to use retirement funds to fund the purchase of a business or franchise without simply cashing out the account and taking a massive tax hit (not advisable).

One option people should look at is a ROBS structure (Rollover for Business Startups), where eligible retirement funds can be rolled into a new business structure and used to fund the business. It certainly isn’t right for everyone and I’m not an advocate for emptying the entire account.

There are rules, costs, and risks. You’d need a qualified professional to explain the structure before doing anything.

The thought is though that if you’re sitting in a corporate job you hate, looking at your 401(k) and thinking, “That’s my retirement,” maybe it’s worth thinking about how in can help you now.

It could represent part of the capital that gives you the opportunity to build something you actually own. I’m not saying quit your job tomorrow and buy a franchise. Quite the contrary I’m saying educate yourself about your options before assuming you’re trapped.

Quitting corporate isn’t about walking away from everything you’ve built. Instead it’s about using what you’ve built to create your next chapter that fits your financial and lifestyle goals.

Has anyone thought about this option?

My wife and I spent years working around each other while I was building my business. And I’ll be honest. There were days when I thought, How the hell are we going to do this and still like each other?
At home you’re husband and wife.
At work, suddenly you’re co-workers.
And those are two very different relationships.

You can have a disagreement at 10:00 in the morning about a customer, an employee, or money…
…and then you’re supposed to sit across from each other at dinner that night like nothing happened.
The hardest part wasn’t the work.
It was learning when to stop talking about work.

When you own a business, there’s always something.

The employee who didn’t show up.
The customer who’s pissed off.
The equipment that broke.
The money that needs to be spent.
The decision you didn’t agree on.

And when your spouse is involved, it’s incredibly easy for the business to follow you home.

Looking back after 28 years of owning a business, one of the biggest things I learned is that you have to protect the marriage from the business.
The business isn’t the family.
The business isn’t the relationship.

It’s a business. It can be sold. It can fail. It can change.

Your spouse is supposed to still be there when all of that is over.

I eventually sold my company.
And one of the strangest parts of that whole experience wasn’t the sale itself. It was realizing that something we’d spent decades talking about every single day was suddenly… over.

No more discussing employees at dinner.
No more worrying about tomorrow’s schedule.
No more “Did you hear what happened today?”

Just life and honestly, that was nice for a change.

For anyone thinking about starting a business with their spouse, I’d say go into it with your eyes open.
Make sure you know who is responsible for what. Set boundaries an most importantly, don’t let the business become more important than the person you’re building your life with.

Eventually the business will be gone. The relationship is what you’re left with and we just become Danielle and Dave riding off into the sunset, better for the experience and still best friends.

I’ve scanned this sub many times, I’ve commented and always came away with the feeling that everyone here is exceptionally truthful.

Here’s my truth:

When I left my job to become self employed it literally was the scariest thing I’ve ever done. I opened a simple home service business, worked hard and hoped for the best.

28 years later I’ve sold the business and frequently ask myself this question.

Was it the job, politics, my supervisor and the honest answer is it was none of those things.

At the time I just personally couldn’t see myself working for someone for 30 years. I also looked around and think I did a pretty good job or at least better than the other sales people in my dept.

These days I’m comfortable in my new position. I spend 3-4 hours per day chit chatting with people about self employment.

The question:

Are you going to make it to retirement a your job and in 1-5 words what bothers you the most?

For 28 years, I owned a business.
I built it, operated it, dealt with employees, customers, equipment, vendors, taxes, regulations, unexpected problems, and all the other things that come with owning a business
.
Eventually, I sold it.
So when someone tells me they want to buy an existing business because they think it’s a “safer” way to become an entrepreneur, I understand the appeal.

You get revenue on day one.
You get customers.
You get employees.
You get a location and equipment.
And if the numbers are right, it can be a great opportunity.

The flip is the following:

You’re buying someone else’s decisions.
Their employees.
Their culture.
Their reputation.
Their systems — good or bad.
Their equipment.
Their customer relationships.
Their problems.
And sometimes, you’re buying the reason they’re selling.

That’s why, if I were starting over today, I’d seriously consider a franchise. Not because franchises are guaranteed to succeed. They’re not. It’s not because I think everyone should own one. But because you’re buying something very different.

Instead of starting with a blank sheet of paper, you’re stepping into a business model. That hopefully has been proven.

You have systems.
Training.
Brand recognition.
Marketing support.
Operating procedures.
And someone who has already spent years figuring out what works — and what doesn’t.
You still have to work.
You still have to manage people.
You still have to sell.
And you still have risk

Lesson: A model that works (franchise) vs Someone else’s model that undoubtedly will need
rather.

Real life example:

I handed over 25 really good people to the company that bought my business. They’re down to 7! Did those people all of a sudden become terrible workers? Or is that I had a particular culture thats wasn’t able to be replicated.

Since leaving my business I became a franchise consultant/coach. I find it incredibly gratifying to help young entrepreneurs succeed especially in home services.

Eventually, I’ll need to get a brokers license as I think its a natural progression, but franchising IMO is the better way to go.

Whats your opinion?

Let’s get this out there. I’m
A franchise consultant, but becoming self employed is a big decision. I’m not here to push you to become self employed. If you want to do it great if not, don’t. Simple.

The real question I have is:

If you’re unhappy enough to post how unhappy you are to strangers, what makes you stay?

It’s a genuine question from someone who escaped young.

Twenty-eight years ago I started a service business (pest control) with more determination than experience.

Over the years, we grew. We made a ton of mistakes. We fixed them. We kept going. Sometimes made the same mistake again.

However after all that time I felt like the time was right to move on. Huge decision that I don’t regret.

So, last year I sold the company to a private equity firm. On paper, that was the goal. Build something valuable enough that someone else wants to own it. I thought retirement would be amazing.
That lasted about 12 months then boredom set in.

I realized I liked helping people build something of their own.
Today I’m involved in franchising as a consultant. Its been great.

One of the things that has become obvious is that there are a lot of “consultants” who have never actually owned a business. They’ve read the books, know sales
But they’ve never laid awake wondering how to make payroll. They’ve never had a customer call at 2 a.m. They’ve never signed the front of a paycheck instead of back.

I have. I know what business ownership is really like. The good, the bad, the ugly and the parts nobody puts on YouTube. Sometimes the right answer is “don’t do it.” Sometimes it’s “wait another year.”

And sometimes when the stars align it’s, “Yes…this could genuinely change your life.”

My question for entrepreneurs who want to buy a franchise or thought about it.

What qualities have you or would you personally look for in a consultant?

I was 24, I had absolutely no idea what I was doing.
I wasn’t climbing a corporate ladder. I wasn’t chasing a dream. I was just trying to pay the rent and hoping life would eventually make sense. I watched friends get careers while I bounced around wondering if I’d ever find my thing.

Eventually, I did. I started a tiny pest control business with more determination than experience. There were years I questioned every decision I’d made. Some months I wasn’t sure how I’d make payroll. Then, almost without realizing it, 28 years had gone by.
Last year I sold the company to PE and retired at 57.
I thought retirement was the destination. Turns out it was just another beginning.

The strange part about getting older is you realize life isn’t one long story—it’s a bunch of chapters. The person I was at 24 wouldn’t recognize me today, and I have a feeling the guy I am today won’t recognize the version of me ten years from now.

Any other Gen Xers ever look back and think, “How the hell did I end up here?”

I’ve been a longtime lurker on this sub and I have to admit, it's hard reading so many posts from people who are genuinely unhappy at work.

Nobody should dread Monday morning as much as some of you do (beyond the normal stuff obviously). I, as a lower level sales person felt the same way 33 years ago. One day I said f-it and quit.

I then spent almost three decades building a business of my own.
People assume that means I always loved going to work. I didn't.

There were years I questioned everything. Payroll. Employees quitting. Customers. The constant pressure. More than once I wondered if getting a regular job would be easier. Thank god my wife who ran our office kept me from packing it in and pushed me to move forward.

Then something clicked.
It wasn't that I hated work. I hated working on someone else's terms. Or may you do hate work, who knows

That leads me to entrepreneurship which I’m a huge proponent of. Owning a business isn't for everyone (I know this to be a fact) But I think a lot of people who say they hate their jobs don't actually hate working—they hate having no control over their future, there’s a huge difference.

This whole story took place over a 30 year career and culminated about a year ago with my successful exit and sale at 57.

One thing I've learned is that asking, "What's another way to make a living” can completely change the direction of your life.

Has anyone here seriously considered working for themselves? If so, what stopped you? It’s a deeply personal choice for sure, but one that really needs an honest answer.

I found working your butt off for yourself makes the work a whole hell of a lot easier.

I now work part-time helping people explore business ownership options.
There are so many opportunities out there that most people never even know exist. If it’s something you’re curious about, feel free to reach out. I’m always happy to share information.

My wife and I just retired after 28 years owning and growing a pest control business together.

Bringing her into the mix was the best thing I ever did. I was working 7 days per week and one night my wife says I can help. I agreed and she got the office into shape, developed systems, scheduling better etc. Was the best business decision I ever made.

One of the things my wife and I had disagreement on was hours worked. She worked 9-4 in the office and I worked 6:30-11am. Then went home and returned emails and periodic sales calls throughout the day and into the evening.

Wife felt I wasn’t putting the hours in that she was because we worked different. Any similar issue?

One of the things my wife and I had disagreement on was hours worked. She worked 9-4 in the office and I worked 6:30-11am. Then went home and returned emails and periodic sales calls throughout the day and into the evening.

Wife felt I wasn’t putting the hours in that she was because we worked different. Any similar issue?

What is/was your biggest issue as a husband wife team?

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