The Pros and Cons of setting up a family led business
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I think a lot of people have a dream about running their own business. Since starting LITTLE HOTDOG WATSON (a kidswear hat brand) many people have confided they’ve always fancied having a go.
This is then quickly followed by the next question ‘So what is it really like to run your own business, to work for yourself…is it really living the dream.?’
I’ve been sharing my experiences privately of the highs and lows and now it feels apt to write it down. So here it is the good / the bad + the ugly. The swot analysis, if you like of running
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your own business.
Cub Sun hat in Navy Kin print from Little Hotdog Watson
Firstly the good!
Not having a boss or people telling you what to do daily is lovely *kids aside. The kids will always tell you what to do
It really is flexible working in the sense of the business has to flex around you. That’s part of the deal…you flex to it and in turn it flexes back
Creatively it’s genuinely fun to be able to have an idea and roll with it.
It is incredibly
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satisfying seeing your product/brand through to fruition from idea to completion. It really is like an extra child in that sense
The highs you get from even small achievements are incredible, like your first sale or speaking with customers and getting lovely feedback.
Cub sun hat in Orange by Little Hotdog Watson
Now the bad
You will work twice as hard at your own business than any other job you’ve ever done.
You are always ‘on’. You do have the
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flexibility to stop for ‘sports day’ but it’s hard to switch off, especially when you are financially relying on your business. It means often you have to take that call during dinner or work right up to your due date!
You have no boss! While that can be a positive it’s also terrifying. The buck stops with you and there’s no-one above to ask advice or help make decisions.
You will worry more about your business than you have ever worried in your life. Have I made the right decision, will we make enough money, what’s next.
Emma Watson on their first ever photoshoot with her little Hotdog
How do you know if it’s right for you?
Ultimately, setting up your own business is a totally personal decision. Whether through necessity or desire it’s definitely never the easy option for making money.
There are also certain traits that I see in other small business owners that in my opinion help whether you’re dealing with the good or the bad aspects.
Tenacity – are you a real fighter. Will you give
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it everything you have, even if it feels like the world is against you?
Passion – are you passionate about your business. Do you believe in it with everything you’ve got? Passion will take you a long way?
Flexible – are you able to bounce on the ropes when things get tough and find a new direction. There are constant challenges especially when setting up a small biz, being agile is key
Calm – are you able to reign in your emotions and think calmly with a pragmatic head. Running your own business is emotional. The most successful examples of
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business owners I know are able to take a deep breath and talk to themselves as if they are their own boss.
And with all that said and done just know I’m still enjoying it three ish years later. I’ve learnt a lot of skills along the way and the happiness certainly outweighs the tears.
Emma Watson is the owner of LITTLE HOTDOG WATSON a kids wear brand bringing style + innovation together enabling kids to get outside into the fresh air. Their sun hats offer triple protection from UVA/UVB rays, Mosquito Repellant and stop little heads
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over-heating. They are a 6 figure profitable company, stocked in 8 countries and is run from a home desk in Norwich.
You can follow her on instagram Little Hotdog Watson
I think a lot of people have a dream about running their own business. Since starting LITTLE HOTDOG WATSON (a kidswear hat brand) many people have confided they’ve always fancied having a go.
This is then quickly followed by the next question ‘So what is it really like to run your own business, to work for yourself…is it really living the dream.?’
I’ve been sharing my experiences privately of the highs and lows and now it feels apt to write it down. So here it is the good / the bad + the ugly. The swot analysis, if you like of running your own business.
Cub Sun hat in Navy Kin print from Little Hotdog Watson
Firstly the good!
Not having a boss or people telling you what to do daily is lovely *kids aside. The kids will always tell you what to do
It really is flexible working in the sense of the business has to flex around you. That’s part of the deal…you flex to it and in turn it flexes back
Creatively it’s genuinely fun to be able to have an idea and roll with it.
It is incredibly satisfying seeing your product/brand through to fruition from idea to completion. It really is like an extra child in that sense
The highs you get from even small achievements are incredible, like your first sale or speaking with customers and getting lovely feedback.
Cub sun hat in Orange by Little Hotdog Watson
Now the bad
You will work twice as hard at your own business than any other job you’ve ever done.
You are always ‘on’. You do have the flexibility to stop for ‘sports day’ but it’s hard to switch off, especially when you are financially relying on your business. It means often you have to take that call during dinner or work right up to your due date!
You have no boss! While that can be a positive it’s also terrifying. The buck stops with you and there’s no-one above to ask advice or help make decisions.
You will worry more about your business than you have ever worried in your life. Have I made the right decision, will we make enough money, what’s next.
Emma Watson on their first ever photoshoot with her little Hotdog
How do you know if it’s right for you?
Ultimately, setting up your own business is a totally personal decision. Whether through necessity or desire it’s definitely never the easy option for making money.
There are also certain traits that I see in other small business owners that in my opinion help whether you’re dealing with the good or the bad aspects.
Tenacity – are you a real fighter. Will you give it everything you have, even if it feels like the world is against you?
Passion – are you passionate about your business. Do you believe in it with everything you’ve got? Passion will take you a long way?
Flexible – are you able to bounce on the ropes when things get tough and find a new direction. There are constant challenges especially when setting up a small biz, being agile is key
Calm – are you able to reign in your emotions and think calmly with a pragmatic head. Running your own business is emotional. The most successful examples of business owners I know are able to take a deep breath and talk to themselves as if they are their own boss.
And with all that said and done just know I’m still enjoying it three ish years later. I’ve learnt a lot of skills along the way and the happiness certainly outweighs the tears.
Emma Watson is the owner of LITTLE HOTDOG WATSON a kids wear brand bringing style + innovation together enabling kids to get outside into the fresh air. Their sun hats offer triple protection from UVA/UVB rays, Mosquito Repellant and stop little heads over-heating. They are a 6 figure profitable company, stocked in 8 countries and is run from a home desk in Norwich.
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