Wednesday, May 21, 2014

Are you the boss of your business or is your business the boss of you?

Are you self-employed or are you a business owner?
By LaTasha West

Do you know the difference in being a business owner and being self-employed?
When you started your company, what was your vision? Are you achieving that vision?
Most entrepreneurs start out as being self-employed and eventually move into business ownership. However there are some, myself included who get stuck in the “self-employed” stage. If that is not where you want to be, then you will become drained, frustrated and feel discouraged and stagnate.

So how do you know if you are stuck being self-employed when you want to run a business? Here are a few signs to let you know that you are self-employed.
             If your business can’t run without you
·         If you are actually the person making the product or providing the service
·         If you don’t work, then you don’t get paid

If this is you, you are most likely self-employed; you created a job for yourself!

Now if that was not your plan and you would like to have more time, more flexibility and greater earning power it’s time to discover how to go from being self-employed to being a business owner.

Here are a few steps to get you started
1. Determine what processes in your business can be automated
2. Hire some help, even if it’s only contract or part time
3. Create a passive income stream

Can you see the difference between being self-employed and owning a business? Those who are self-employed work “in” their business, those who are business owners work “on” their businesses.

If you are not where you want to be, don’t fret, start making changes!

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