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What have you learned about being your own boss?Capital Ideas members describe the ups and downs of working for yourself

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Sona Chavda, principal at DEC by Sona (decbysona.com), says she’s developed many great qualities thanks to entrepreneurship. “Patience, integrity and passion are three aspects I hold very dear as a business owner and boss. Patience and time management go hand-in-hand when making decisions, creating awareness and being a successful enterprise. There’s never a right answer; you just have to jump in with both feet and hope for the best. Trial and error are my keys to success — if Plan A doesn’t work, scrap it and try Plan B.”

PHOTO BY DYLAN THOMPSON/

CAPITAL IDEAS

“Being your own boss means you still have to manage people — namely, yourself ... You have to wear a ton of hats, be wary of overworking yourself, and be able to truly trust the other people on your team.”— Jeff Archibald, co-founder Paper Leaf — paper-leaf.com

“Surround yourself with good people and you won’t need to micromanage. To keep an eye on the big picture, you need to delegate tasks; this is likely the hardest part. Learning to trust other’s abilities to do the job as well as you can is difficult.”— Brian Jaeger, owner of Vienna Bakery

“What I have learned about being my own boss is that it’s not as easy as it looks! You’re on the clock 24 hours a day without the freedom you might think comes with it. You have only yourself to blame if things go wrong, and a lot of people depending on you to have all the answers.”— Lauren Willms, co-owner of Modern Sole — modernsole.ca

“One of the most important things I’ve learned is to be responsible for myself and my company. No one will push you but yourself. Persistence is another important point — give yourself a little faith and never give up too soon.”— Xiao Wu, founder of Game Cloud Co. — gamecloudgame.com

“That I can’t do everything myself. I was always worried about paying someone else to do work that I could do and do quickly, but once I stopped being such a control freak I realized how much of my time was being freed up to focus on growth.”— Chris Mikulin, digital strategist at Kick Point — kickpoint.ca

“I’ve learned to be impeccable with my word. My job has many roles, but being a boss is the most important one because I have to set a precedence and make sure my company holds positive values and goals.”— Crystal Puim, owner of Crystal.Puim.Photography — crystalphotos.ca

“Time management is key, because it’s easy to get sidetracked by the numerous responsibilities and commitments that fall upon a business owner’s shoulders. Jumping between tasks throughout the day without a plan can be inefficient and feel unproductive. My day always begins with a prioritized checklist of things I’m aiming to complete.”— Kory Read, managing partner at Oil and Gas Connection Ltd. — oilandgasconnection.com

“A few things: My shoulders are bigger than I thought they were; building a great team is super important — and I’m pretty darn good at it; my success has depended much more on how I handled the tough times rather than the upsides; I am very proud that I have built a company that can save others thousands or millions of dollars; and that it’s important to have outside interests.”— Chris Vilcsak, president of Solution 105 — solution105.com

“My boss can be a bit of a jerk, making me stay late at the office and work most weekends. But she also makes up for it by letting me sleep in and giving me time away for travel and family. Really, it’s pretty much win-win: I get the flexibility I crave, and we both get the career we’ve always wanted. Being your own boss has drawbacks — lack of salary and benefits, for instance — but ultimately, working for myself is the most rewarding thing I’ve ever done ... Entrepreneurship is a beautiful thing if you can handle the insecurity and the ebb and flow.”— Marliss Weber, principal at Parodos Communications — parodos.ca

“Seek to understand your client and team needs, and never assume that you have all the facts or understand every situation. Many times there are deeper challenges or opportunities you can’t see. Being your own boss means taking the time to understand all that, even when you feel you don’t have the time to.”— Bea Bohm-Meyer, founder of Bohm Meyer Group — bohm-meyergroup.com

“I have learned not to try to do it all on my own. I can’t be an expert in everything, but I can reach out to experts who have the skills and knowledge that I need. My networking groups have become a great resource for me.”— Jennifer Belik, national relationship manager at PayVida Solutions Inc. — payvida.ca

“People always comment that it must be great to be your own boss. The truth is, you are always accountable to someone, whether it’s customers, employees, partners, shareholders, the board, your family, etc. In my opinion, being your own boss is a state of mind, and everyone should take ownership of their destiny by putting themselves in the driver’s seat.”— Scott Cuthbert, co-founder of Safeopedia — safeopedia.com

“It requires a true work ethic, as you’re only accountable to yourself. Scheduling your day is essential so you aren’t distracted. It’s also best to place yourself in an environment where you can get the work done — make sure to have a dedicated work space.”— Chris Gowing, business developer at Dynasty Marketing — dynastysystem.org

“I have learned that being able to wake up every day and love what you do while being your own boss is something that not everyone gets to have in life. I am incredibly fortunate and grateful to have gone down this road in life, and being able to do it with an amazing team is the icing on the cake.”— Alyson Hodson, partner at Zag Creative Group — zagcreativegroup.com

“There isn’t as much freedom as people may think there is; your business occupies your mind much more than 40 hours per week.”— Jody Hrabiwchuk, principal and creative director of Urban Creative Co. — urbancreativeco.com

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E-TownA festival for the entrepreneurially mindedWhere: Shaw Conference Centre (9797Jasper Ave.)Admission: $49 to $399. Details at e-town.ca.

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These answers are in response to a question posed by Wellington Holbrook, execu-tive vice-president of ATB Business. Here’s his take:

“It sounds great being your own boss: No one to answer to, no one to take or-ders from. Paradise, right? Well, my experience suggests it ain’t so. Being one’s own boss definitely brings benefits, but the reality is that it also brings a level of account-ability that those of us who work for bosses don’t always appreciate. Accountabil-ity to employees, stakeholders and customers, as the buck stops in one place: On your lap. As well, it is lonely being your own boss. Who gives you feedback on how you are doing? Who tells you if you are doing great or otherwise? Being your own boss is great, but the dreams we all have about it are often more glamorous than the truth reveals. Truth is, it’s very hard, and I look up to those entrepreneurs who have taken on the challenge — they deserve our respect.”

Capital Ideas member Julie Elford — founder of Venture Wellness — is asking you to weigh-in.

How do you inspire a strong company culture?

You can answer the question in two ways:

• If you’re a member, open today’s Capital Ideas email, or• Visit capitalideasedmonton.comWe’ll publish the best answers, along with your busi-

ness name and website address, on Aug. 20.

COMMUNITY QUESTION: How do you inspire a strong company culture?