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Entrepreneurs Say Business Ownership Requires These 3 Sacrifices

Entrepreneurs Say Business Ownership Requires These 3 Sacrifices
Credit: Ismagilov/Shutterstock

Although there are plenty of things to love about owning a small business, entrepreneurs say there are many aspects that aren't as glamorous.

Indeed, running a business requires considerable sacrifices, according to a new study from email marketing provider Constant Contact that surveyed entrepreneurs. Specifically, 56 percent of the entrepreneurs surveyed said they feel like they can never be away from their business, while 51 percent don't have time to focus on themselves. Additionally, more than 40 percent of those surveyed don't take vacations or see their family and friends as much as they would like to.  

Owning a small business can also be a drain on your finances. The research discovered that 41 percent of entrepreneurs have all of their money tied up in their business.

In addition to the sacrifices they make, small business owners face a variety of challenges. Because most small business owners are in charge of everything from sales, marketing and operations to customer relations, payroll and accounts payable, the entrepreneurs surveyed think the struggle of having to wear so many different hats is the most difficult part of their job.

Having to weather economic storms, find new customers, retain existing customers and keep up with new technology are among the other tough aspects of being a small business owner, the study shows. [10 Entrepreneurs Share Must-Know Tips for New Founders ]

Nonetheless, many small business owners said the sacrifices and challenges are worth it. More than 60 percent of those surveyed love running their own business because it allows them to pursue their own passions, while 59 percent said it gives them the freedom to control their professional life.

The flexibility, the freedom to try new things and make their own mistakes, the power to control their own destiny and the ability to put their stamp on things are some of the other best parts of being a small business owners, according to the study.

Being a small business owner may be one of the toughest jobs, but it's also one of the most rewarding, said Gail Goodman, CEO of Constant Contact. 

"Small business owners face incredible professional challenges that often impact every aspect of their lives," Goodman said in a statement. "Yet their job represents their passion, and that seems to make the sacrifices worth it."

The study was based on surveys of 785 small business owners who participate in the Constant Contact Small Biz Council, a research panel of U.S. small businesses and nonprofits recruited from the Constant Contact customer base.

Chad Brooks

Chad Brooks is a Chicago-based writer and editor with nearly 20 years in media. A 1998 journalism graduate of Indiana University, Chad began his career with Business News Daily in 2011 as a freelance writer. In 2014, he joined the staff full time as a senior writer. Before Business News Daily, Chad spent nearly a decade as a staff reporter for the Daily Herald in suburban Chicago, covering a wide array of topics including local and state government, crime, the legal system and education. Chad has also worked on the other side of the media industry, promoting small businesses throughout the United States for two years in a public relations role. His first book, How to Start a Home-Based App Development Business, was published in 2014. He lives with his wife and daughter in the Chicago suburbs.