This career choice has 95% job satisfaction
Small business owners are concerned about pricing and cash flow, but 95% of small business owners are happy with their decision to start their company. These findings come from the third Amex Trendex: Small Business Edition, a March 2024 survey of 1127 U.S. small business financial decisionmakers, conducted by Morning Consult LLC on behalf of American Express. Participating respondents came from businesses up to 500 employees: 514 businesses with 10 employees or less; 412 businesses with 11-100 employees; and 201 businesses with 101-500 employees.
Even if you’re not an entrepreneur, the survey findings reveal ways you can increase your career fulfillment:
1 — Play the long game
The Amex Trendex report found that small business owners are motivated by their long-term ambitions. 60% of respondents expect their business to be a long-term venture and run for more than five years. Do you take a long-term outlook with your career?
If your current job is one where you watch the clock day-by-day, then it’s a sign that your interest level for this work isn’t there. That doesn’t necessarily mean you need to leave this job – you can focus on both your current job and long-term career goals. Over time, you may be able to refine your role to feature more of what interests you. If your employer is large enough, there may be opportunities to move laterally. Until you find something more aligned with your long-term interests, you can work on advancing your career outside of your current job.
2 – Remember why you picked your career
The Amex Trendex report uncovered a range of reasons why owners chose to start their small businesses. 84% were inspired by a personal passion; 65% saw a need in their community; 59% want to support their family and future generations. What’s your Why for working as hard as you do?
Remind yourself how your current career matches your personal passions – if it doesn’t, prioritize time after work to nurture those passions. Review your employer mission statement and community initiatives to see the broader impact of what you do. Even though you can’t pass on your job, like you might transition a small business, your family and future generations benefit from the salary you earn. If supporting family is a motivator for you, look at family photos to inspire you, when you’re procrastinating on writing that report or putting off negotiating your raise.
3 – Strengthen your personal foundation to withstand professional setbacks
Even the happy small business owners surveyed have their worries, with pricing and cash flow being the top concerns. Financial stress impacts work productivity for professionals as well. The only real antidote is to strengthen your personal finances to help buttress any career setbacks.
Nurturing additional income streams to your salary is one way of taking the pressure off your job to be the sole provider. Just as a business might offer multiple products or services, you need multiple ways of earning – e.g., your job salary, interest income from savings, rental income from real estate you own. Growing these additional income streams is also a form of professional development since you’ll tap into different skills and expertise than your current job.
You have choices in how to nurture your job satisfaction
Even while it’s a good idea to nurture multiple income streams so you’re not reliant on any one job, your job takes up half (or more) of your waking hours so it’s still a good idea to do what you can to enjoy it. Luckily you have choices in how to nurture your job satisfaction. Take a cue from satisfied small business owners and prioritize longevity in your career. Keep your motivations – whether that’s personal passion, community service, family legacy or something else — top of mind. Bolster your personal finances so financial challenges don’t throw you.