J+H=I: IX2=H? What’s it mean? Something different to everyone, no doubt. I posed the question today because someone I was talking money with posed another question to me. Will you be happy making less money as a business owner than you were when working for someone else?
My answer was nearly instantaneous. Of course I would be. Let me catch you new folks up to speed. I am in the process (and possibly less than a week or so away) from buying a business. I’ve been running it as if it were my own for the past year and a half already so I am pretty entrenched to the idea. Now I am just getting closer to making everything official. Sure, it’ll bring me more income overall but it will also bring the headaches of running your own business. I have a long way to go what with learning all the nuisances of running a small business.
Twenty years ago I stepped into this business after burning out at another where I was making decent money. After three years being on the road, dealing with corporate headaches and outdated corporate policies, I decided I just wanted to take a year to find my old self again. I got into the video business again. I worked for the current owner for 10 years before having to move on to get my daughter through college. I was gone for 8 years working as a Certified Independent Thermographer (CIT) in the technical services field. Travel once more wore me out physically and this time, mentally, as well. I came back with a new idea and a new approach. I’d not only get back into the video business, I’d buy my old boss out.
I’m almost there. It’s been a logistics nightmare with the current recession, the lending institutions not want to lend to small business ventures and so on. But I have persisted, even to the point that I have suffered financial hardship. The payoff will be comfortable but I am never going to be a millionaire. That’s never been my goal. My goal has always been to call myself a business owner and be regularly challenged.
So, the question was posed. Will you be happy making less money as a business owner than you were when working for someone else? Again I say yes because I believe in the adage that money doesn’t buy happiness. I know a lot of other people out there would disagree with me because when you have more money you can buy things that make you comfortable and happy. But every “rich” man I have ever met has never been truly happy. Real life proof that money doesn’t buy happiness. So when someone tells you that a stack of money equals happiness…
…it’s a lie.
Equation (for those still trying to figure it out): Job + Hours = Income: Income squared = happine