Do you have a job or own a business?

The ultimate test of your business can be found in a simple question: would someone buy it?

Whether you want to sell next year or a decade from now, you should be building an asset someone would buy – otherwise, you have a job, not a business.

Here are 8 ways to ensure you are building a valuable business, not just doing a job:

1.????A job requires that you show up at work to make money, whereas a business generates revenue whether you are there or not.

2.????A job is reliant on a single customer (your boss) who can dictate how you deliver your product or service, whereas a business is not dictated to by a small number of customers.

3.????A job is a place where your personal reputation impacts your results, whereas a business is a place where the brand is more important than the personality of the founder.

4.????A job requires you to use your personal experience and expertise to get a result, whereas a business is a place where a process – not a person – consistently produces a desirable result.

5.????A job requires you to take a certain amount of vacation and no more, whereas if you own a business, the more vacation you can take without impacting your company’s performance, the more valuable your business will be.

6.????A job pays you more the harder you work, whereas in a business, the smarter you work, the more money you earn.

7.????In a job, you solve the problems. If you own a business, your employees solve the problems.

8.????If the majority of your customers know your mobile phone number, it’s likely you have a job, not a business.