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Just This One Thing – Week 1 – CLARITY

The question you should ask yourself is this, “Do I want to run a business or do I want to be self-employed?” There’s a big difference between the business owner and the self-employed person. When you go into an enterprise with the intention of making it into a viable business, you have to constantly be thinking of ways in which to make it one day be able to operate in your absence. In order to have an entity that operates in your absence, you have to make whatever it is that you do something that can be by someone else.

What you may truly want is to just want to be their own boss. Your primary purpose may be to put yourself into a situation in which you do not have to answer to any superior. The mindset of a business owner must be different than that of a self-employed person. The business owner must think about growth and scaling the operation so that it can become self-sufficient or able to successfully operate without the owner always being around. In order to scale and grow, one has to have a long-term outlook and, therefore, be willing to make certain investments in resources to allow the operation to grow. The self-employed person doesn’t think in those terms.

The Why

If it is your aim to run a business – that is, an enterprise that can operate and thrive in your absence – you will take actions and make decisions that are consistent with the growth of a business. You will see value in investing the time, effort and money in creating systems and handling your operations so that the business can be operated on a day-to-day basis by others and continue to serve your customers and clients in the manner in which you’d want them to be served. If your aim is primarily to be your own boss – to be self-employed – you will (and can) make decisions that focus more on your personal survival.

The Action Items

  1. Be Honest. Be honest with yourself about your true aims.

    Spend some time evaluating and analyzing how you are operating and whether that is consistent with what you claim to be your goal. If your aim is to have a job that you’ve created for yourself, then continue to operate in that manner. If your goal is to build and operate an enterprise that can function without you, but still create income for you, recognize that you may have to make changes that will be more likely to allow you to reach your goal.

  2. Write It Down. Once you’ve decided what your true aim is – business ownership or job ownership – write down in one sentence the decision that you’ve made. Keep that statement in an area that is clearly visible to you on a day-to-day basis.

Resources

Book: Rich Dad, Poor Dad by Robert Kiyosaki

If you have not read this classic business book, consider Googling and reading about the Cashflow Quadrant – a key concept discussed in the book. The concept identifies the differences in mindset between those who are self-employed versus those who aim to be business owners.

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