How To Go From Having a Job to Owning a Business

How To Go From Having a Job to Owning a Business

How To Go From Having a Job to Owning a Business

The ultimate test of your business success rests upon the answer to a simple question: would someone want to buy your company? Whether you plan to sell next year or a decade from now, as an entrepreneur business owner you must be building an asset. Someone should see value in purchasing – otherwise, you have a job and not a business.
Here are ten ideas to keep you focused on building a business, not merely on doing a job:
  • A job requires that you show up at work to make money, whereas a business generates turnover whether you are there or not.
  • If your business is so reliant on a single customer that they can dictate how you deliver your product or service, your company is more like a job than a valuable business.
  • A job is a place where your personal reputation impacts your results, whereas a company is a place where the brand is more important than the personality of the owner(s).
  • A job requires you to use your personal experience and expertise to get a result, whereas a company is a place where a process – not a person – consistently produces a desirable result.
  • In a job, you get sacked for taking too many holidays. If you own a company, the more holidays you can take without impacting your company’s performance, the more valuable your business becomes.
  • organisationIn a job, the harder you work, the more money you earn. In a business, the smarter you work, the more money you earn.
  • In a job, you have less ‘skin in the game’ and can become distracted by outside events. When building a business, the owner cannot allow personal issues or excuses to distract them from achieving the big goal. 
  • In a job, you solve the problems. If you own a business, your employees solve the problems.
  • If the majority of your customers know your mobile phone number, it’s likely you have a job and not a business.
  • In a job, you are working to achieve someone else’s dreams. In a business you are working on achieving your own dreams.
  • In a job, you have less’ skin in the game’ and can become distracted by outside events. When building a business, the owner can’t allow personal issues or excuses to distract them from achieving the big goal.
  • In a job, you are working to achieve someone else’s dreams. In a business you are working on achieving your own dreams. 
We hope that the ideas above have helped to clarify whether you’re the owner of a business… or the holder of a job. Whether it’s the former or the latter, we can help coach you into a position where your hard work is crystallised into an offer to buy your business. 
By |2018-10-30T11:10:22+00:00March 16th, 2016|Categories: Multi Author|0 Comments

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