I have long since believed that the definition of a business is an enterprise that is profitable and operates without you being present. There is a vast difference between being self employed that is to say, swapping your time for money and having a business that is leveraged and works with minimal if any input from you.
With this in mind, its easier to describe the path of the entrepreneur as follows:
- The Self Employed – Typically swaps time for money and in effect just has a job with multiple bosses (and if lucky, a bit of flexibility).
- The Manager – Typically where the self employed worker makes a transition to employing staff.
- The Owner – Typically where the business becomes truly leveraged and the owner can step aside and work outside of it and develop new projects.
- The Invest0r – Having built one successful enterprise, the owner can then make decisions as to what other businesses to invest in. Perhaps to start new businesses, invest in shares and property and assets.
- The Entrepreneur – Having built a portfolio of businesses, property, investments and assets this is where the entrepreneur is truly seperate from the assets and will make key global decisions affecting his/her portfolio.
Business is like a game. You need to understand the rules and once you have, you then need to be prepared for the fact that they then throw a curveball and change as you move up through the steps to wealth. Most businesses fail because they fail to understand the rules at whatever stage or step they are at. It is as simple as that.
So, where are you on the steps? Where would you like to be? (not everyone wants to be at step 5!) Once you have identified this, then call us to book your free place on a Business Growth Workshop – no sales pitch – no B/S just some good quality time spent on working on your business, goals and of course a list of the rules!