Do you have a job or own a business?
carl-heyerdahl-KE0nC8-58MQ-unsplash

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.

要查看或添加评论,请登录

Ivan Carlse的更多文章

  • How to benefit from Roll-Ups

    How to benefit from Roll-Ups

    The garage door industry isn’t the most obvious place for a business empire. Yet in just a few years, Guild has emerged…

  • Cash v Profit when selling your business

    Cash v Profit when selling your business

    One Hidden Thing That Drives Your Company’s Value You already know that your company’s revenue and profits play a big…

  • How do you maximise goodwill?

    How do you maximise goodwill?

    How much goodwill do you have in your business? The term “goodwill” is often thrown around in conversation as though it…

  • CAUTION: Do not poke the Giant

    CAUTION: Do not poke the Giant

    On June 1, 2011, both Floyd’s Coffee Shops in Portland, Oregon were busier than usual. The regulars were elbowed out of…

  • Accountant v Business Sale

    Accountant v Business Sale

    My accountant’s biggest flaw I like my accountant. She’s smart, steady and well informed.

    2 条评论
  • The impact of COVID on business valuations

    The impact of COVID on business valuations

    EBITDAC is a facetious term for Earnings Before Interest Taxes Depreciation Amortization and COVID. As a business…

    1 条评论
  • How to attract a Strategic buyer

    How to attract a Strategic buyer

    Why did Facebook acquire Internet messaging service WhatsApp for $19 billion? At the time, it represented the…

  • Who will buy my business?

    Who will buy my business?

    Whether you want to sell your business next year or a decade from now, you will have two basic options for an external…

  • What's in a good Exit Plan?

    What's in a good Exit Plan?

    Business owners are often so busy addressing everyday challenges that they postpone the critical task of planning their…

  • What your birth certificate says about your Exit Plan

    What your birth certificate says about your Exit Plan

    In our experience, your age has a big effect on your attitude towards your business and how you feel about one day…

社区洞察

其他会员也浏览了