Do You Own your Own business or a Slave to your business?

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Are you a small business owner? or Are you a future entrepreneurs?  If you are, then I want to ask you, do you own your own business or your business owns you? Please answer this questions in your mind, you don’t have to say it out loud.  And the reason i asked this question is to ensure that you in total control of your business. If not, it is going to be the same as having a 9-5 jobs. Although, the work is different but the feeling is mutual I guarantee you.

You have to be extra careful not to be the worker of your business because “own your own business” and “you are the business” is two different things. If defines whether you are in total control or not.

Do you OWN your business or You ARE the business?

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The differences between own your own business and you are the business:

1. You will not have much time to enjoy life.

Because most of your time would be used for working your company since the startups until now. You would get stuck at your business because if you stop working your business will be going in a lot of trouble.

However, if it is in a startups mode, then it is fine. Since some entrepreneurs don’t have a lot of resources to outsources their works. But, when you already exited your startups mode it’s time to delegates.

2. Your employees tend to rely on you even though when you are not working.

They become too dependent on you when you are not there with them. For example, when you on a vacation with your family, you employee would call and disturb your precious time.

And you as the boss could not have done anything to stop this from happening. I though you are the boss? You should be handling this problem with ease. Yes, this means you need to do something to make sure that you own that business, not the other way around .

3. Your business seems to go out of “lucks” when you go for a vacations.

Yes, this is the biggest differences. The business that you have set up tends to have a problems whenever you are on your holiday. Which means, without you, your business cannot survive.

This is the biggest problem that can happen when “you ARE the business” kind of person. So to combat all of these problems, below are a few steps that you can do to own your own business.

 

How to combat this?

1.  Create your own business system.

The right quote for this point is ” Products and Services make you money, but a systems make you a Fortune“.

And the system is called a business system. It is no ordinary systems. This system allows you to run an extraordinary business. Having a business system is what sets you apart from own your own business and you are the business. And the most important is, that business system should be scalable, replicable and easy to understand.

Additionally, there are four main types of business system that you need to create no matter what kind of business you are in. The types of business system would be:

  1. Marketing system: A system that generating a consistent flow of leads into you business.
  2. Sales System: Lead nurturing, follow up your customer and convert it into sales.
  3. Fulfillment system: The products or services you provide to the customer in exchange for their money.
  4. Administration system: Accounts,receptions, customer services, human resources and etc. This system are the one who will be supporting the other business systems above.

Also, if you have already perfected your business system, you can even franchise it or sell it to the highest bidder. Ultimately, you would want to grow your business or earn profits with it. I mean,if someone want to buy your company for millions of dollars it is very irresistible. But, it is all up to you.

But, if you still do not understand how to create your own business system, it is time for you to buy,read and learn the 1 Page Marketing Plan written by Allan Dib.  He will guide and provide you, his 9 step by steps guidelines which is so easy to understand and execute. I truly recommend it.

 

The benefits of having a business:

1. More time to spare.

Meaning that you will have more vacations in a year and more family time. You have the freedom to do and to be whatever you want. Don’t you want this to happen to you?

2. Less headache.

Which means less phone calls and even less meetings.  This is because when your employee already know how to tackle a problems and you already create a business system, then they would be very much less dependent on you. It is like you are they for the profits only, all the works will be done by your staff with the help of the systems.

3. You can work from anywhere and still wont get fired or being layoffs.

The freedom to work from home is the goal for me you know. You don’t have to drive your car to work and i don’t have to face the traffic jam. And yes, i would really love that. Freedom of choice indeed! Work anywhere and anytime you want!

4. The ability to fire Yourself.

To have the ability to fire yourself, should be our main goal. To do this, your business should become your running automatically with the helps of the systems. Every months you will receive the profits while keep on enjoying your life.  And the hardest things to do is to eliminate the biggest bottleneck from your business which is YOU!

Why? This is because when we started our own business, the founders or You tends to perform all roles.  Since most of the founders during startups processes don’t have the money and manpower to delegates. Unfortunately, if you stay like this for a long time even after you exited your startups phase, these processes will doom you to stay a small business forever. And you will remain as the prisoner of your own business. Which is why it is so important to have a business systems.

 

Summary.

It is time for us to become freelancer, entrepreneurs and start to own our own business! The time and the opportunity had never been clearer like this before. If you don’t know what kind of online business to start and looking out for an online business ideas, check out here.

Finally, when you already have a business, take a few seconds and analyze, do you own your own business or i am the business? Thank  you for reading.

P.S. Please share if you find it helpful and comment if you have a questions to ask.

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