Business owner's anxiety.

Does anyone ever get business owner's anxiety? I'm new to owning my own business and management, actually managing a real company and signing contracts, sending invoices, managing books and promoting myself and my work...from time to time at low times (like now) I get worried I'll not have enough money to eat or maybe I'll get really sick and be unable to work. I worry about securing myself financially in the future, and for retirement even...hell it's only my 4th month

Time to time I wonder if perhaps I'm better off doing photography as an aside, but everyone I meet tells me to keep going at it and my work/service is the best they've ever seen or had.

I overspent last month really badly and I'm working hard and only paying myself barely minimum wage to get my finances back in the pluses. I learned a lot from the importance of keeping on top of your books and tracking orders...I can't imagine ever not have done this, once I broke even with all my equipment and started gaining ahead I really lost control as for personal spending.

Anyway, enough about me and my rocky monetary woes.

Does anyone else do what I did? Get this feeling or methodology of thought where all you can think of is; "Maybe its best to close up and quit and try another line of work"

I guess its the whole paying yourself thing and not relying on your boss to manage your income that I'm not used to, yet. Though, I wonder if anyone else worries about their business or their money like this.

I love the work, especially the personal management and control. From time to time I wonder, though, if perhaps I should go do EMS again ...or another trade..where I could make a steadier income.


I suppose writing that out was what I needed, I actually feel a lot better after putting those fears into word. Discussion still stands, though.

all the time
Wait until 4 or more families rely on the decisions you make with your business then the real nightmares begin.

Oh no...it's like going to the gym all over again..a part of you just can't wait cause it'll feel great at the end, and a part of you know that before it feels good it's going to hurt..

Karl Johnston wrote in post #8111880
Oh no...it's like going to the gym all over again..a part of you just can't wait cause it'll feel great at the end, and a part of you know that before it feels good it's going to hurt..

I like that!

One thing I don't regret when the economy goes to hell, is working for myself. Sure, things slow down, money gets tight, etc. I can always find ways to lean out the expenses and make ends meet. But, I will never be laid off and be without any income at all! To me that is very reassuring.

Even during this downturn, I've pulled in some pretty decent jobs. Not as much as before, but more than enough to pay the bills and keep the 'machine' running. All the while, I've seem some friends and family get laid off and now wondering whats next for them.

I could always go back to what I was doing before, working for a corporate giant, have a corner office, fat paycheck, etc, but I hasn't as happy as I am doing what I do now. And I could be let go anytime for a number of reasons (new management, downsizing, management conflict, laid off, etc). I think of that whenever I get overwhelmed with running the business, and it helps put it back in perspective for me. I'm doing what I love to do, making a decent living at it, and am in control in the drivers seat. Sweet!

For many people, this anxiety is normal... and will probably not go away, no matter how successful you become.

I remember hearing of one of the great divas... Streisand, perhaps, who still got horribly nervous every time she stepped on the stage.

The secret is to channel this anxiety so that it motivates you to become even more successful... to work harder... to take better pictures, etc.

Hopefully, though, in 2 years (or sooner) you'll look back on this post and laugh.

Good luck.

You have very real concerns. I have been out of work for only a couple of weeks due to a work related injury (ruptured tendon) Although I hope to go back to my full time job in two more weeks, it will be "light duty". I cannot hold my camera for at least 90 days from my surgery. Fortunately insurance is still paying me, but slightly less than I make.
I'm proof that having proper insurance is important and it helps me sleep better.

I've owned my own business (not photography) for almost 25 years and I still get concerned and anxious when things aren't going as well as I like. But I'm with sfaust when it comes to owning my own business. I never have to worry about being laid of because someone else thought I should go. And it is totally up to me to make things work. Good luck and hang in there. Nothing stays the same forever.

I think your fears are completely normal. As this thread has already shown, many people feel this way from time to time. Almost everyone I'd venture. One of the most difficult things about such anxiety is that we feel like it's just us, that somehow everyone else in the entire world is handling their business just fine and everything goes smoothly for them. This makes us feel more isolated. Luckily we have places like this where we can pull together and see that it's normal and just part of life. Probably sounds corny, but it's true. Best of luck with things. Just keep pushing onward and upward and things will work out.

https://photography-on-the.net …?p=8087081&post​count=3753

PhotosGuy wrote in post #8119448
https://photography-on-the.net …?p=8087081&post​count=3753

funny you mention that, A couple of months after the first surgery, I was back to shooting sports but using a monopod AND a cable release so that I wouldn't have to rais my right arm. It got some strange looks from the media photographers at the games until I explained why the release. We do what we have to do to get the shot. Seemed awkward at first but it worked. Now Ive just had another operation and I can't even grip the release.
Either way, I need to wait until Im cleared by the MD to return to light duty at my day job. It's illegal for me to earn any compensation while out on a work related injury. So, I now pay someone to cover games for me as "work for hire" so I retain copyright and not lose the accounts.

Go back to EMS

I work two 24 hours shifts a week which still leaves time for full time photography. Steady income, insurance and retirement are a must for me.

Once I retire I might decide photography is my one and only job.

Well my wife handles most of the paper work, bills, invoicing and we have a great accountant which is a HUGE help but to answer your question I fell that way all the time. Most of my work with the exception the annual things I shoot is at most two months out and usually only a week or so out. So every month I wonder if the phones going to be ringing. Most of my clients are on July 1-June 30th fiscals so everything I've been shooting this year was already budgeted for. It will be interesting to see if I remain as busy after July 1...

I had a very good winter and this spring has been outstanding. Owning your own is not for the faint of heart but its good being out there without a net. I wouldn't have it any other way.

This is super-generalized, but what I have heard before is that most businesses don't even break even for a few years. But this may have been in the context of start-up restaurants and stuff haha.

jcw122 wrote in post #8121754
This is super-generalized, but what I have heard before is that most businesses don't even break even for a few years. But this may have been in the context of start-up restaurants and stuff haha.

The IRS gives you three years to turn a profit. If not, it is considered a hobby.

jcw122 wrote in post #8121754
This is super-generalized, but what I have heard before is that most businesses don't even break even for a few years. But this may have been in the context of start-up restaurants and stuff haha.

Nah, small business 101; it's true for all kinds of business I was told.

4 months and myself turning a profit...hey not bad eh? Cockiness took a hold of me a couple months ago, now I'm not doing too bad.

Lee, are you involved in EMS? I didn't know that about the IRS, mind you I'm canadian so it would be CRA anyway and it's likely something different.