Meg Cadoux Hirshberg discusses how running a business can interfere with the rest of your plans in life and how important is it to take the time to do them.
Meg Cadoux Hirshberg
00:13 Meg Hirshberg: I have a friend whose wife... He's an entrepreneur, and they're in their late 30s and she keeps waiting, she keeps saying, well, as soon as his business is profitable then we'll have a child. And that prompted me to write a column with the idea that what I wanted to convey to her. What I tried to convey to her is there's really never a right time. When you're involved with an entrepreneurial business, there is never a right time to do anything. Whether to have a child, or buy a house, or even get a dog or take a vacation. If you let the business crowd out your life, it will.
00:58 Hirshberg: And that gets back to the nature of entrepreneurial business which is its unpredictable, it's often risky, you don't have necessarily a guaranteed salary; you don't know if you can actually afford the mortgage from month to month; so people tend to hang back. I see this a lot, they hang back from fulfilling those really critical life goals that they have set. And I think there's a lot of danger in doing that. I think if you delay and defer, that leads to a lifetime of regret really ultimately. And that is one thing that Gary and I did right. We did a lot of things wrong, but one thing that we did right was we just kind of went for it. We were living in ridiculous conditions at this farm. We had no money. And we had our children at the farm, well two of our three kids. And we took vacations even though it took us a year to pay off the visa bill because we knew it was really important to just suck that joy out of life while we could because who knows about tomorrow.
01:57 Hirshberg: And this applies even when the business is more mature because it's not just when the business is a start up. With more mature, there is other goals as there's other business benchmarks; as soon as we get that sales manager, or open up that new branch, or fill in the blank, then we'll do whatever it is. And I think it's a trap that entrepreneurs need to... And their spouses need to be very careful not to fall into.