Guess what? Yup, I’m reading another business book. This time I’ve started reading The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber. You may have heard of his books before or his company E-Myth Worldwide. What I find most interesting about this book so far is that it makes you ask yourself the question, “Are you working on your business it, or in it?” Anyone who is self-employed can tell you they are probably working in their business.
This is especially true for freelance workers, contractors, or anyone with their own brick and mortar business who does all of the work. When I took off on my own, I thought how much happier I would be by working for myself. Grant it, I am very happy. I don’t experience any of the stress or the long commute I once did, however, I do still experience the burnout of doing the same work I did in my previous job. I basically have traded one job for another, except now I have much more freedom in terms of time and choosing who to work with.
Now I am working on freedom from doing all of the work. I rather work on my business instead of in it. When you become self-employed, you also take on multiple roles. You become the project manager, the technician, marketer, and any other task that is needed to keep your business going. Many self-employed individuals actually find themselves working more hours than they had at a previous job.
Like myself, what used to be your passion becomes your downfall. I used to really enjoy web developing but now I view it as a chore. I used to enjoy reading programming books and learning new techniques. I’d make web applications for fun and learning. The thought of cracking open a web related book bores me. New web projects frustrate me. The passion is gone.
I know I lost the desire for my work because I do it all. Outsourcing is not an option for me due to quick turn-around times. My passion now lies in affiliate marketing and network marketing. Both are exciting and both create residual streams of income. Best of all, there are no clients to answer to (another reason I’ve lost my passion.)
My goal is to actually move away from the labor and create revenue streams that allow me to be free to do the things I want. If you are finding yourself in the same boat, I suggest reading the following books:
- The 4-Hour Workweek, Expanded and Updated: Expanded and Updated, With Over 100 New Pages of Cutting-Edge Content.
- Cashflow Quadrant: Rich Dad’s Guide to Financial Freedom
- The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It
All three books will make you think hard about your business model and what you truly want out of life.
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Now your making me think…I put more hours than I did before. I’m starting to feel those things you’ve mentioned..but hopefully it won’t be my downfall. I think if you are self-employed have a way to put up and run your business someday. You can’t be a freelance all your life. Anyway nice read could actually relate to it and love the books you referred.
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Yes that’s true. One of the privileges that freelancing gives is the freedom. You don’t have boss to monitor you everyday or nosy co-workers to meddle with what you’re doing. And I agree with your statement that “what used to be your passion becomes your downfall” because I’ve been in that situation too. Sometimes, we really have to get out of the box and explore new things. Thanks for your post. It inspires me a lot.
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You hit the nail right on the head! Burnout is one of those things that happens to self employed professionals who try to do it all.
It’s so important to hire help so you can work ON your business. It’s hard to do at first, both financially and being able to let go. But in the end, you will end up making more with support.
Warmly,
Jennifer -
Been doing the same thing also I was hoping that starting my own business will keep me from working long hours but it never happened. I guess if you want to work on your business you have to hire people so that you wont do all the work yourself.
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Insightful read. And can also see the same things happening with me as I start up my new software company. Affiliate marketing has also become a passion of mine
Look forward to reading your recommended books Paul, http://1daylater.com – Time,money&mileage tracking for freelancers -
You sound quite down on this post. I guess, nothing’s perfect and we have to learn how to face our pet peeves as a freelancer. Maybe, this burnout feeling comes from lack of motivation from people around you, which you can get when you’re an employee. I believe that it’s all about learning the art of compromise and finding your inspiration, every now and then, that will put the passion back on freelancing. Or simply, take a break and enjoy life for a moment. Thanks for the sharing!
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I have often found that being self-employed is the double-edged sword. The burnout takes such a toll. What I’ve come to learn is that if this is what I want to do, I have to manage what I do and how I do it. Not look at it like a sprint, but as a walking journey, with lots of side-trips and windows to view into. Looking at self-employed as a journey is what keeps me excited and fresh and turns the occasional burnout into the rebirth.
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