March 31

Why being self employed sucks and how to make it not suck.

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Do you know what your role is in your business? Many profess to own their own business however, they are actually self-employed. Logically, if you want to own the business, you can’t be working inside its structure.

1. What society sees as success and their role in a business 10 years onward.

In the world’s society presently, when you ask people about their role they play in their business or where they see themselves in five-ten years time, the answer is always the same. It is some version of sitting on a tropical beach, traveling the world while their business works for them. Is your business taking you in that direction?

2. To own a business, you need to work on your business.

Tomorrow, take note of every responsibility you have in your business. Write them down, know what they are and be aware of them! Take a week to do this, ensuring that you capture everything. 

Once you have gathered everything, think about how you could automate these responsibilities. Question each point, “can I have someone else do it, do I really need to be doing that, am I the only one who can do it and if I didn't have to do these things what else could I be doing (last question very important)?” 

What extra value could you be bringing to the business? Business owners who do not work in the business are able to work on growing, upgrading and moving their business forward. Time frees up to perform other important work taking the business to a franchise-level, international or improving production efficiency.

3. Always have an exit plan.

If you are not looking to expand your business, always have an exit plan! You could sell your business but that is not necessary. You only need to remove yourself from the equation and the system will happily keep on going while still paying you a monthly salary. It all depends on you. Think of how you can automate more and more of the work you do in order to separate yourself from the business and let it run itself.


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