Running a small business is a monumental task in itself, but when you add a young family into the mix, the balancing act becomes even more complex. Parents in this situation often find themselves juggling various responsibilities, from meeting deadlines and managing finances to attending school events and changing diapers. If you asked us 5 years ago where we imagined ourselves now, I doubt we could have predicted taking on a historic restoration and managing a coworking community.
This week is our son's 5th birthday. As we reflect back, we can laugh at all the tears and stress, and be proud of just how far we have come, while also stopping to appreciate just how hard it has been. At this very moment, I am racing to write and edit this blog post, which keenly watching the clock so we can bolt over to pre-k to read a book to our son's class for his birthday lunch in school. Meanwhile, we see this month's office bills watching us from the corner and a member has just reminded us that one of our bathrooms needs restocking. Its a lot. Just what are the challenges and rewards?
The Challenges
Time Management: One of the biggest hurdles is finding the time to successfully operate a business while giving quality attention to family. Late nights and weekends may become the norm, leading to a very real feeling of burnout. Our kids are very familiar with our office, often greeting members and offering hugs; but we will always stop and make sure we find time for them, away from the office.
Emotional Strain: The pressure to succeed can create stress that affects both personal and professional lives. Balancing work demands with parenting responsibilities can lead to feelings of guilt and anxiety. On a school vacation week like this week, this is even more notable and palatable. The emotions are real.
Financial Uncertainty: Small businesses often face unpredictable income, which can be particularly stressful when raising a family. Parents must carefully plan their finances and anticipate unexpected expenses. Here in Ossining, many small business owners find ourselves working 2 or even 3 careers to keep up while they build their businesses. The dream to find success at our small businesses does not always pay for diapers and costco bills.
Limited Personal Time: Personal time can seem like a luxury that’s hard to come by, making self-care important but often deprioritized. On the one hand, we are lucky to be a husband and wife team, often with one of us finding time to give the other a break. But sometimes, we just have to be ok with putting a "we will be right back" sign up when life gets in the way.
The Rewards
Despite these challenges, many small business owners find that the rewards outweigh the difficulties. I personally look around at the community around me. When my family moved here in the peak of COVID, we knew no one. Yet, when our family was hit with the illness, local parents we'd never met showed up at our door with toys and food and anything we needed. When our neighbor saw us struggling with the move, she brought a fresh loaf of bread.
Fast forward almost 5 years, and our small business is part of our Ossining love story. We are building a community legacy for our family. Something we can look at and be proud of building.
When we problem solve issues in our business, our community and family see our efforts and dedication. It is that classic, intangible, "Je ne sais quoi" that makes us proud to be local business owners. Our children see how hard we work, how involved we are with local non-profits and progressive growth in our region. Our business neighbors see us working wth them hand-in-hand to make our home a proud one. Our community leaders see us putting our energy into something that is worth more than a paycheck.
At the end of the day, what you take from owning a small business directly correlates to what you put in. And for that, we are proud.
Managing a small business alongside a young family is undeniably challenging, requiring dedication, adaptability, and a lot of heart. However, as many have discovered, the journey can also be filled with immense joy and satisfaction. The ability to make a living while being present for your family is a unique reward that continues to motivate countless entrepreneurs every day. Embracing the challenges can lead to a fulfilling life that celebrates both professional achievements and family bonds.
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