My dear friends Adelaide Lancaster & Amy Abrams recently published their new book: The Big Enough Company: Creating a Business that Works for You.  They are the founders of In Good Company, a shared workplace community in NYC and they’ve interviewed hundreds of women entrepreneurs to talk about how to make your own business work for you.  They are rockstars and I’m thrilled Adelaide generously agreed to answer my most pressing questions here:

The old saying goes “size doesn’t matter” but you seem to think that it does– and in fact bigger is not necessarily better.  Can you explain that?

Size doesn’t matter. But satisfaction does. Too many entrepreneurs are told and believe that bigger is always better. As a result they pursue a “growth for growth’s sake” business model and make steep compromises in the process. Instead we encourage entrepreneurs to be very clear about their own motivations and goals and then build a company that is big enough to achieve that. Only your specific goals can determine the right business size. Very small companies can be very successful and satisfying or limiting depending on those goals. But it’s misguided and unsustainable to think that success comes from having a bigger business – more employees, more customers, more locations, etc. You can’t measure success with external comparisons or by following “proven” business models. You can only achieve success by making sure you get what you want from entrepreneurship.

What should your goals be as you start your own company?

We aren’t in the business of telling people what their goals should be. Instead we are in the business of helping people to identify and honor their goals as their build their companies. I think people underestimate the variety of reasons that entrepreneurs strike out on their own. Some want freedom, others autonomy over their time; others desire creative control, while others can’t stand being told what to do. Each wants to make money – but that amount can vary greatly. No matter what your specific motivations are, they have profound implications for not only how you initially structure your company but how you continue to grow it as well.

How does this approach impact you and your partner Amy Abrams, in launching and running your own business?

It means that we have trained ourselves to ask very different questions when considering a particular opportunity. Instead of asking if people will buy it or whether something will make us more money, we ask questions such as: Is this really the business that we are in? Is this want we want to be known for? Will this give me the opportunity to do more of the work I love or less? Will this require me to compromise on something that is personally important to me? Will this help me achieve the kind of success I am looking for?

This kind of continual evaluation isn’t easy but it’s worth it!

As you ask in the book, what do you (and Amy) do best?

We do very different things best. I love information gathering, writing, thought leadership, strategy, execution, and learning. I am very good at details when I want to be but if my role is too-operational I get bored. I am also fairly introverted. It’s easy for me to spend a lot of time with my computer. I’m less inclined to meet people in person without a structure or purpose. Doing the interviews and promoting this book has required a lot of in person time but because there is a structure I’ve surprisingly been very comfortable with and energized by it. I love having time to explore and learn online (via blogs and social media) and reading magazines (like Businessweek, Newsweek, Inc., Fast Company) and business books. If I don’t have enough time to do that I lose energy. I have a really high sense of urgency so working for myself is a good fit. Operating under someone else’s slow timeline is excruciating for me.

There are lots of parts of my business that are well-suited for my skills and traits…and that is by design. But I’ve also had to surround myself with others who really thrive off of regular in-person connectivity and interaction. That’s why my partner is a giant extrovert!

What’s the one thing every entrepreneur should take away from this book?

It’s never too late to make your business work better for you. We all get it wrong from time to time and we’ve all been off-track. But no matter the compromises that you may have made, you are still the boss. It’s up to you where to go next and how to best achieve the rewards you want. Entrepreneurship isn’t being right or wrong it’s about continuous adaption and evolution. Your business gives you the opportunity to have the work and life you want on your terms, but you need to take advantage of that opportunity because it doesn’t happen on its own.

Adelaide Lancaster is an entrepreneur, speaker and co-author of The Big Enough Company: Creating a business that works for you (Portfolio/Penguin). She is also the co-founder of In Good Company Workplaces, a first-of-its-kind community, learning center and co-working space for women entrepreneurs in New York City. She is a contributor to The Huffington Post, a columnist for The Daily Muse and writes The Big Enough Company blog for Forbes.com. She lives in Philadelphia, PA with her husband and daughter. You can follow her on twitter here and here and on Facebook too.