‘Good enough’? How to make running your small business more fulfilling

You can make running your small business more fulfilling by making it more enjoyable, automating small things, constant learning, redesigning the role, connecting with your community and avoiding the “good enough” fallacy.

Whether you chose to run a small business was to follow a lifelong passion or have greater flexibility and find some work-life balance, it does not mean you have to slog through every day just wishing the hours would go faster.

Running a small business offers advantages, but also comes with a lot of challenges that include late-night paperwork, managing cash flow and dealing with the ever-escalating cost of doing business in an environment affected by wider macro-economic factors such as inflation, load shedding and finding and retaining staff, says Colin Timmis, country manager for Xero South Africa.

“Our latest Global State of Small Business Owner Well-being report shows that while South African small business owners have a high level of well-being compared to other countries, these challenges still play on their minds.”

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How to make your work more enjoyable

The report specifically explored the role that a sense of fulfilment plays in small business owners’ well-being and found that 68% of South African owners report feeling fulfilled by the activities they do at work most or all the time.

“It is heartening to see that small business owners find meaning and purpose in what they do and perhaps the reason why so many persist with optimism and determination, despite facing challenges.”

However, this leaves nearly a third (32%) not often feeling fulfilled by their work, Timmis says.

“Creating conditions that help owners feel a sense of fulfilment and enjoyment is important to help those who are struggling to stay on top of their well-being.”

Five small business tips for success

With that in mind, he says small business owners can use these five ways to inject interest and purpose into their work:

Automate the small stuff in your small business

Small business owners can free up time to spend on the more interesting and creative side of their businesses which made them start initially by automating admin-heavy, manual tasks. However, that is often easier said than done, Timmis says.

“Our previous One Step/ Small business digitalisation research found that only one in five small business owners consider themselves to be technology adopters. They often struggle to adopt technology due to the perceived uncertainty and difficulties that come with investing in something new but it is not just up to them to overcome those fears.

“It is also the responsibility of technology companies, the industry and the government to adapt their language in a way that positions technology adoption as a series of small, incremental steps rather than large-scale, all-in bets.”

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Keep learning

Timmis says a growth mindset, that focuses on lifelong learning and development, rather than outcomes alone, can make our daily work much more enjoyable.

“That might include doing online courses or undertaking hands-on business training in areas such as digital marketing or social media or making time to enjoy new hobbies that spark creativity, such as art or meditation.”

Understandably, he says, the main issue that prevents many business owners from doing so is their lack of available time.

“Owners find it difficult to set aside time for this kind of learning when they have so many other things to manage. That is why automating time-consuming tasks through technology is a brilliant first step, but there are also ways government can help small businesses find the time to upskill.”

He says Xerox’s recent State of South African Small Business 2023 research shows that 64% of South African small businesses want to see government investing in digital skills and innovation and 26% would like government-backed skills development.

“However, the onus is not on the government alone to provide the support. Other players in the small business ecosystem need to play their part,” Timmis says.

“Banks, for example, perform a vital role for small businesses, but most do not turn to their banks for support. Only 15% use their banks as a source of business advice and guidance.”

Redesign the role of small business owner

Many owners find themselves wearing multiple hats in their business, as it is not only difficult to hire talent, it is expensive too. However, one freedom owners do have is the unique ability to craft their own job descriptions. In fact, flexibility and freedom are what draws many people to starting their own business in the first place, Timmis says.

“While it may seem like an added expense, it is possible to outsource certain roles and responsibilities, either through suppliers or apps that meet business owners’ specific needs. Often the expense pays off, enabling important tasks to be done quicker and to a higher quality, while helping the business to grow and thrive.”

Therefore, owners should consider setting aside a regular “career review” for themselves to evaluate what they can add or outsource to make their job more fulfilling.

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Connect with your community

Timmis says it is important for small business owners to look for opportunities to spend time and network with people in their community, whether it is other small businesses in the neighbourhood, their accountants or business coaches or their customers.

“Connecting with others, especially customers, can help owners feel inspired and more connected with the heart of the business and it acts as a great reminder of why they do what they do. Sharing experiences and listening to others is also a great way to learn about new ways of doing things, as well as gaining inspiration and new perspectives.”

Avoid the ‘good enough’ fallacy

Small business owners can easily slip into maintaining their status quo as a “good enough” way of doing things. However, while it is understandable that tried and tested processes or solutions feel safer and require less mental energy than unproven experimentation, they are more likely to find interest and fulfilment when they challenge themselves to improve even the “good enough” standard.