The Biggest Lie Business Owners Tell Themselves
Josh Patrick writes about how easy it is to fall into the pattern of thinking, “I’ll focus on family once I get the business to X.” It's time, Josh suggests, to define success differently.
Here are today’s highlights:
Julian Scadden explains “the sophistication trap,” the risk that customers will think your home-service business is owned by a private equity firm.
Gene Marks suggests some AI tools that small to midsized construction businesses should consider using right now.
In our latest podcast, Ilana Preuss argues that economic development agencies focus too much on “big-game hunting.” The better answer, she says, is supporting small manufacturing.
Paul Lundy was dying a slow death in corporate America. Then he bought a small shop.
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THE ENTREPRENEURIAL LIFE
Josh Patrick encourages business owners to define success differently—and not make the same mistake he did: “You know the pattern because you’ve probably lived it. You start a business with big dreams. You’re going to build something meaningful, create financial freedom, maybe even change your industry. And you’re going to do it without becoming one of those workaholics who miss their kids’ childhood. Then reality hits. The business demands everything. There are fires to put out, deals to close, employees to manage, and customers to satisfy. You tell yourself it’s temporary – just this quarter, just this year, just until you get past this crucial growth phase. Except the crucial phase never ends.”
“You miss birthdays, anniversaries, school plays, and quiet bedtime conversations. And when you are physically present, you’re mentally somewhere else – checking your phone, thinking about work, half-listening while planning tomorrow’s meetings. The really insidious part? You justify it all as ‘providing for my family’ or ‘building something for our future.’ You tell yourself they’ll understand someday. That the sacrifice will be worth it. But here’s the brutal truth I’ve learned both from my own experience and watching hundreds of other business owners: Your kids don’t need a bigger house or fancier vacations. They need you.”
“So how do we work differently? First, you’ve got to get brutally honest about where your energy actually goes. Track it for two weeks. Not what you think you’re doing or what you wish you were doing – what you’re actually doing. How many hours are you working? How much of your mental energy is consumed by business even when you’re not physically at work? When was the last time you had a conversation with your kid that wasn’t interrupted by your phone? Most business owners I know think they’re giving their family maybe 60 percent of their time and energy. When they actually track it, they discover it’s more like 5 to 10 percent.”
“The biggest lie business owners tell themselves is ‘I’ll focus on family once I get the business to X.’ Once we hit a million in revenue. Once we get through this growth phase. Once we hire a COO. Once we get acquired. The goal posts keep moving. ‘Someday’ never comes. So start today. Not perfectly. Not with some grand plan that requires completely restructuring your entire life. Just start. Leave work at 6 PM today. Put your phone away during dinner tonight. Ask your kid about their day and actually listen to the answer. Tell your spouse one thing you appreciate about them.”
“It’s not easy. It requires constant attention and regular course corrections. You’ll mess up. You’ll slip back into old patterns. That’s okay. What matters is that you notice and adjust. Because at the end of the day – and at the end of your life – the question isn’t how successful your business was. The question is whether you showed up for the people you loved and the moments that mattered.” READ MORE
MARKETING
Julian Scadden explains how to avoid having customers confuse your business with a PE-backed business: “A few months ago, one of our members lost a job. The customer said, ‘I don’t hire PE firms.’ The contractor wasn’t PE-backed. He just looked like he was. Think about that. This contractor did everything right. Professional uniforms, clean trucks, systematic approach, polished marketing. All the things we taught him. And it cost him the job. The customer made a snap judgment based on perception, not reality.”
“Here’s my aha moment from all this: We spent years teaching you to build sophisticated businesses. Now we need to teach you sophisticated authenticity. The goal isn’t to look small or unprofessional. It’s to look professional and human. Systematic and personal. Sophisticated and local. Because customers aren’t just buying your service anymore. They’re buying into who you are.”
“Customers need to know where you came from, why you started this business, and why you’re staying local. Not because they’re nosy, but because it answers the question burning in their mind: ‘Who really owns this company?’ I dropped out of high school. Started as a ditch digger. Built my way up through the trades. That story isn’t just personal history—it’s proof that I understand their world.”
“Your origin story needs to do three things: Establish local roots (‘Born and raised in Springfield’). Show your trade background (‘Started turning wrenches at 16’). Communicate your mission (‘Building something my kids can be proud of’). Don’t bury this story on your ‘About Us’ page. Put it everywhere. In your marketing, in your sales presentations, in your technician training. When customers know your story, they can’t confuse you with some private equity roll-up.” READ MORE
