answering "do i want to actually buy/run a small biz?"
June 28, 2024
by a searcher in New York, NY, USA
I went back and forth on this during my search. Perhaps just not enough confidence as my operating experience is mostly within startups. So instead of buying something small to figure this out, I decided to start a small business to get my familiar with what it is really like to a) be all in b) manage hourly employees c) be responsible for everything and all logistics ultimately
Now of course, starting is extremely different from buying... as there are systems. Although depending on the small biz, you will likely be more involved than the seller admits. You will certainly always have the 'worry backpack' on. About 2 months into launching a pop-up ice cream business that does catering, events, direct sales, craft pints, etc. Notes so far:
- Super fun -- love it! Couldn't have imagined how fun work can be. And not because it is ice cream. Food is hard AF. Esp on the cold supply chain
- Time management is by far the most difficult aspect. There are so many things that are important to wake up and do, I'm not often sure where to start. Of course over time it gets easier and you delegate etc... but if you are pushing for growth and extension, I'd imagine it willl still always feel like this. Beyond just the core operating business, the level of overhead in payroll admin, licensing, permitting, inventory management, etc... I do what I can in ~40 hours/week and call it a day. Still been able to be a dad and go on vacatin.
- Very unfun to not be profitable yet -- my mood is directly tied to how i feel about our growth vector at any given moment
- So many ups and downs, but keep walking forward. Just always a problem to deal with, large or small it. just. doesn't. stop. After years of startups though, this part I'm used a bit and can stomach.
So do I feel more confident buying a small biz and that I'd enjoy it? Heck yeah, I do. But first I have to finish this journey and perhaps even consult a bit to keep some income streaming in for when I'm searching/continuing to invest here.
in Campbell, CA, USA
from Georgia Institute of Technology in Atlanta, GA, USA