The Continuous Commitment of Business Ownership: A Deep Dive into Weekly Time Investment

When I inform people that I dedicate almost all of my waking hours to my business, their initial response is often a mix of disbelief and sympathy. This article seeks to explore the reasons behind this commitment and the varying levels of time investment required for different businesses.

Business Ownership vs. Employment

A business is fundamentally different from a job. For employees, the workday ends when the clock stops ticking, and thoughts about their job can be set aside until the next day. However, as a business owner, the mindset must stay engaged at all times.

As a business owner, your mind is constantly racing with ideas and strategies for growth. How can you attract more customers? How can you increase sales? How can you ensure customer satisfaction? How can you foster customer referrals?

These are the questions that consume the thoughts of a dedicated entrepreneur. And rather than viewing this as a burden, many business owners find it exhilarating. Solving these challenges not only brings immense satisfaction but also benefits everyone involved—customers, vendors, family, and the owner themselves.

Time Investment and Business Growth

The initial phase of building a business can be demanding, requiring 16 to 18 hours of daily engagement. However, once a solid foundation is established, the investment may drop to around 8 to 10 hours per week. This variation is due to the nature and complexity of the business, as well as the level of delegation.

Businesses, like music, are adaptable and require attention as dictated by the owner. Slacking off will inevitably lead to complications and dissatisfaction. Therefore, the commitment remains constant, regardless of how many hours are actually invested.

Variations in Time Investment

The amount of time a business owner dedicates to their venture can vary widely. For some, the commitment is as high as 80 to 100 hours per week, while for others, it may only require a few hours. This variation largely depends on the type of business and the degree of delegation.

My personal experience provides a different perspective. For the past three years, I have dedicated approximately 5 to 10 hours per week to a side business. This venture is projected to generate six-figure revenues with a 75% profit margin, and I am the sole owner and employee.

Managing Time Wisely

Managing time effectively as a business owner is crucial. The commitment can fluctuate based on various circumstances. For example, when traveling for extended periods, there is still the option to stay in touch with the business through electronic media. However, when on vacation, the business can often wait until the return.

No business is the same, and each one will have unique requirements. As a business owner, it is essential to continually assess and adjust your time commitment to align with the needs of your venture.

Conclusion

The dedication required to run a successful business is a testament to the hard work and passion of its owners. While the initial investment may be significant, the long-term rewards make it all worthwhile. Whether it's 8 to 10 hours per week or 16 to 18 hours, the commitment is a necessity for growth, success, and overall satisfaction.