Your Business Tip to
Work Smarter not Harder

8 Ways to Ensure You are Building a Company not a Job

Our definition of a successful business is a commercial profitable enterprise that works without you as the business owner. If it can't, you don't own a business, it's a job.

A lot of business owners I speak to think they own a business but they really own a job. And some have really good jobs but it isn't a business.

How do you own a business instead of a job?  The answer could be found in answering one simple question: would someone want to buy your company? 

Whether you want to sell next year or a decade from now, you must be building an asset someone would buy – otherwise, you have a job, not a business. No one really wants to buy a job, and if they do, they're not going to pay you that much for it.

Let's now look at 8 ways to ensure you are building a company and not just doing a job:

  • A job requires that you show up at work to make money, whereas a company generates revenue whether you are there or not.
  • If your company 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 founder(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 fired for taking too much vacation, whereas if you own a company, the more vacation you can take without impacting your company’s performance, the more valuable your business will be.
  • In a job, the harder you work, the more money you earn. In a company, the smarter you work, the more money you earn.
  • In a job, you solve the problems. If you own a company, your employees solve the problems.
  • If the majority of your customers know your mobile phone number, it’s likely you have a job, not a company.

If you’re not sure whether you have a job or own a business, schedule your free strategy session below so we can discuss things over and I can help you work smarter, not harder.

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