Brunch @ Phenomenal Seafood

Guests and members of TGN met for a brunch experience Sunday July 24th at Phenomenal Seafood, 2495 East-West Connector, Austell Georgia. The owner Chef T came out of the kitchen to speak with us….he shared the history, struggles, triumphs and blessings in building his establishment.  The venue, food and service was truly a phenomenal experience.

“Flood and Water Leaks Dampen Morale for Minority Businesses”

The New “Black Wall Street” opened in November to great fanfare, but now some are facing a leaky mess.  Water leaks at Atlanta’s Black Wall Street that focused on minority-owned businesses have allowed cracks, mold and buckets throughout the building — to build tension between some vendors and management.  Those who oversee the New Black Wall Street Market in Stonecrest have said the complaints are “growing pains” from a few frustrated businesses that will resolve over time, but some former tenants told The Atlanta Journal-Constitution that poor management can’t easily be fixed.  Some business owners say a mall that’s supposed to uplift them is instead setting them up for failure and they’ve been kicked out for complaining about a leaky roof that was pouring water onto their inventory.

 

“How Entrepreneurs Have the Most Stressful Yet Satisfying Jobs”

Entrepreneurs have some of the most stressful jobs. They must grapple with uncertainty and being personally responsible (and liable) for any decision they make. They have the longest working hours of any occupational group. And they must rapidly develop expertise across all areas of management from finance, marketing, procurement and operations to human resource management in the process of starting and managing their business.

Yet despite all this, research finds that entrepreneurs are happier and seemingly healthier than people in other jobs. So how can we explain this paradox?

1. It’s not all about pay

Work on the economics of entrepreneurship traditionally assumed that entrepreneurs bear all the stresses and uncertainty associated with their work, because over the long term they can expect high financial reward for their effort. Yet the evidence shows that entrepreneurs earn less than they would if they, with their particular skill set, were working as employees.

When you ask entrepreneurs how they measure their success, happiness often comes out on top, alongside autonomy. Income features much less prominently.

2. Highly stressful

At the same time, there is substantial evidence that entrepreneurs face myriad stressors that diminish their happiness. High workload and work intensity, as well as financial problems facing their business are top of the entrepreneurs’ stress list.

Although they diminish entrepreneurs’ happiness, some stressors have an upside. While they require more effort in the here and now, they may lead to positive consequences such as business growth in the long term. Some entrepreneurs appear to interpret their long working hours in this way – as a challenge – and therefore turn them into a positive signal.

3. Autonomy is both good and bad

The autonomy that comes with being entrepreneur can be a double-edged sword. Entrepreneurs can make decisions about when and what they work on – and with whom they work. Having the freedom to make these decisions is one of the key motivators for the majority of entrepreneurs to start a business in the first place.

But, as the saying goes, there can be too much of a good thing. Recent research into how entrepreneurs experience their autonomy suggests that, at times, they struggle profoundly with it. The sheer number of decisions to make and the uncertainty about what is the best way forward can be overwhelming, especially when the constant high workload means that there is little time to carefully think through decisions. Then there’s the fact that investors and other stakeholders can significantly limit entrepreneurs’ autonomy.

4. It’s not only personality traits

There is evidence that people with certain personality traits such as self-belief or emotional stability are more likely to succeed as entrepreneurs. And, in turn, these personality traits are associated with higher levels of well-being. But studies that consider personality traits and autonomy at the same time are scarce.

Nonetheless, autonomy still seems to be the biggest reason for high levels of job satisfaction among entrepreneurs. Plus, the personality traits that are most characteristic for entrepreneurs are relatively specific and malleable such as self-belief and initiative taking. This kind of entrepreneurial mindset can be trained.

Emerging research also finds that the nature of people’s work can shape their personality. This, intriguingly, suggests that people can develop an entrepreneurial personality through their work as an entrepreneur.

5. An addictive mix

The evidence review confirms that, by any stretch of imagination, entrepreneurs’ work is highly demanding and challenging. This, along with the positive aspects of being their own boss coupled with an often competitive personality can lead entrepreneurs to be so engaged with their work that it can become obsessive.

So, the most critical skill of entrepreneurs is perhaps how they are able to manage themselves and allow time for recovery. Prolonged exposure to work that is as intense as that of entrepreneurs takes a physical toll on peoples’ bodies. Hence future research into recovery strategies of entrepreneurs can help them manage their highly stressful, albeit satisfying, jobs.

Entrepreneurs’ well-being matters

Entrepreneur happiness matters not just for the entrepreneurs’ themselves, it also matters for their partners’ and children’s well-being. Plus, happy entrepreneurs are less likely to give up and close their firms. They are in a better position to recognize opportunities and be more effective at work, which culminates in more successful businesses.

Many features of the world of work today reflect challenges faced by entrepreneurs – high levels of uncertainty, intense work demands and personal responsibility among them. So understanding entrepreneurs’ happiness affords us with a glimpse into how we all may manage the demands of this new world of work.

“Single vs. Married Entrepreneurs: Who Has the Edge”

So, who’s better off in business: the single entrepreneur with an unlimited supply of midnight oil to burn or the married entrepreneur with obvious time limitations, but also the support of a loving spouse and family?

Here, a look at how being single or married can give you an edge when it comes to three important aspects of living a successful entrepreneurial life.

Flexibility

Who has the edge? Single entrepreneurs

“A single entrepreneur has the benefit of not stressing out about getting home to take care of building a relationship,” Brackett said. “They may date, but it doesn’t really take the same sort of energy.”

For example, having the flexibility to attend networking events in the evenings, while married entrepreneurs may not be able to, can certainly offer an advantage when it comes to growing a business. If your industry also requires constant travel, the flexibility of being able to hop on a plane at a moment’s notice can also offer an edge to the single entrepreneur.

Work-Life Balance

Who has the edge? Married entrepreneurs

Finding ways to balance work and family is often top of mind for married entrepreneurs because they grapple with it on a daily basis, while single entrepreneurs can — albeit unwittingly — shift their personal needs to the back burner.

“When you’re married, you’re always revisiting the priorities, asking yourself: ‘What am I doing this for? What’s the long-term goal?'” Brackett said. “That’s a benefit because it forces you to make choices, you’re probably going to be happy with in the long run.”

To be sure, married business owners are also left wondering if their business is suffering because they need to spend more time working. Still, experts agree that finding some semblance of balance between work and play is critical for any business owner. Of course, that’s not to say single entrepreneurs don’t think at all about long-term goals, they’re just not necessarily forced to face them every day.

 Time & Energy

Who has the edge? Single entrepreneurs

A single entrepreneur has more available time and energy to throw toward their business, and I think that unquestionably contributes to the success and thriving of a venture.

On the other hand, being in a loving relationship can bring an emotional high and there’s an energy and optimism that goes a long with it. When we’re feeling good and optimistic, we tend to get past our fears about taking that next step in business because we don’t feel so isolated.  Whether you have a lot or a little time, experts say what’s most important to being a successful entrepreneur is knowing how to manage it.