Did You Just Buy a Job...Instead of Create a Business?

Jacob goes to work, day after day as a mechanic fixing cars in a small shop. As he’s working his 8 hour shift, he thinks to himself “the boss invoices the customer $120 an hour for my work, and I’m only getting paid $40 an hour. That greedy business employer is making $80 an hour profit on the back of my work!” Jacob believes profit is so easy for the business owner, it is almost like the money grows on a tree. Jacob hands in his notice and announces he’s going to start his own shop…and he’s going to make way more money and not have a boss to contend with!

Fast forward, Jacob is the owner of his own little mechanic shop. Just like he wanted, he’s in charge now....of everything! He’s in charge of administration, accounting, payroll, purchasing, marketing, sales, computer systems… everything – right down to the janitorial. When he’s not doing all those business functions, he is on the tools, fixing cars.

Jacob is exhausted. He had no idea how much was involved in having a business. And Jacob isn’t making anywhere near the money he thought he was going to. In fact, he’s making less than he did as an employee. The overhead is bleeding his bank account dry!

The reality is that Jacob’s story resonates dearly with many business owners. They think owning a business is easy. They believe if that dumb old boss of theirs could do it, anyone could run a successful business. They believe they can do the job they’ve always done, but do it for themselves, and make more money and work better hours.

What they don’t realize is they didn’t really start a business, they bought themselves a job.

These individuals haven’t learned the lessons of how to work on their business, not in their business. Until they do, they’ll be stuck in rut, working more hours and making less money than they ever did as an employee. And the kicker, they don’t even get the perk of a paid vacation. In fact, they probably can’t remember the last time they were able to take a vacation!

Is it hopeless? No, certainly not. Here are some quick tips:

Set Goals. You can’t hit a target you can’t see! Write down exactly what you want and set a deadline for achievement. Sounds easy, right? Yet, surprisingly, a majority of business owners don’t set goals.

Time Block Entrepreneurial Time. Dedicate at least 5% of your day to business building activities. While 5% sounds like nothing, business owners stuck in this rut typically spend 0% of their time working on their business.

Discipline Yourself to Prioritize. Start your day by doing the important tasks - the things that will build your business. Discipline yourself not to do the tasks you like to do until the important tasks (that you probably don’t like doing) are done.

Most Importantly....

Get Business Support. Many business owners are great at doing something (plumbers are great plumbers, estheticians are great estheticians, bakers are great bakers….) but they have no business training. Support comes in many ways – books, incubators, workshops, webinars, mastermind groups, entrepreneur clubs, coaches and consultants.

Is it easy? Definitely not. There is a cliché that says “nothing worth having comes easily”.

Is it exciting? If you “absolutely” isn’t your immediate response, perhaps you need to rethink business owner vs job.

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