Do You Own a Small Business? You DON’T Want to Hear This!

Owning a small business is an exciting venture. But here's a harsh truth you may not want to hear: your business might actually own you. Let's dive into what this means and how you can turn the tables.

Do You Own a Job or a Business?

The first time I encountered this concept was while reading Brian Miles' book Virtual Culture. In it, Brian recalls a conversation he had with a business buddy shortly after he and his wife, Shannon, started Belay, a virtual staffing company.

Brian was excited about their new venture and eager to share his enthusiasm. However, his friend responded with some tough love, saying, "Brian, you don’t own the business; the business owns you until you can be away from it and it still makes money."

This revelation stuck with me, and it's why I'm using it as an example today. Most entrepreneurs start their businesses for various reasons—financial freedom, the ability to make their own schedules, the desire to avoid doing tasks they hate, or simply to not be bossed around. Regardless of the reason, the underlying motivation for 95% of entrepreneurs is freedom.

Let me know in the comments below: Why did you start your business? Or, if you haven't started one yet, why do you want to?

The Realization

In 2019, I hired my first virtual assistant, and shortly afterward, I read Brian's book. It was a gut punch. I realized my business couldn’t revolve around me if it was to succeed.

Transparency time: I am currently in startup mode, trying to grow my coaching business and build a content creation platform. So, yes, I’m on the treadmill with you. However, I've learned valuable lessons from the past. I've intentionally blocked time for rest and recovery, spending time with family and friends, and indulging in hobbies.

According to Dave Ramsey's definition of a Treadmill Operator, my business doesn't make money without me right now. If your business is in the same boat, guess what? You own a job, not a business.

The Tough Love

I know this is hard to hear, but understanding this reality is the first step towards change. My goal with this blog and my coaching business is to provide you with content, coaching, and resources to help you make the necessary changes to transition from owning a job to owning a business. Imagine vacations without daily fire calls and quality time with your family where you actually enjoy your vacation.

The Journey Ahead

In June, I'll dive into four critical topics that every business owner needs to understand to move away from owning a job. Here’s the planned schedule:

Business Financials 101: Are You Selling Your Products or Services at the Right Price? (June 10th)

We'll cover the basics of pricing strategy to ensure you're not leaving money on the table.

Strategic Planning 101: Predicting Your Business Future (June 17th)

Learn the fundamentals of strategic planning to make educated decisions about your business’s future.

Change Management 101: Hiring Passionate People (June 24th)

Discover how to manage changes effectively and hire people who care about your business as much as you do.

Building Effective Processes 101: People vs. Processes (July 1st)

Understand the art of creating processes that allow your business to operate smoothly, even when you're not there.

Join the Journey

Smash the like button if you're up for the journey! Each week, I'll release a 15-30 minute video that provides you with the tools to start transitioning from owning a job to owning a business. Your dream of freedom is within reach.

Ready to change the game and reclaim your freedom? Let's get started!

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