80% of businesses fail in 5 years time because owners only build a JOB for themselves, not a business that can eventually run autopilot. What’s the difference between thinking like an entrepreneur and an employee in building a business?
We all know what JOB stands for… Just Over Broke. And if you see your business as something you have to be actively involved in forever after, then get ready for burnout. Business owners with an employee mindset think mostly of the day-to-day routines that are necessary to keep their business afloat. They barely schedule any time for planning, building systems, or developing themselves as entrepreneurs. They may hang out with people with the same problem and spend most of their time frustrated that they haven’t found the solution yet. As years go by, they find themselves having a big BUSY-ness but a pretty stagnant BUSINESS.
Entrepreneurs see their business as an investment. Like in any investment, they make passive income. They build the company with the right foundation, the right vision, and the right people. And they invest time to build it properly so that it eventually can run without them. For entrepreneurs, their only business is the business itself. Their only reason for building a business is to sell it. Selling in terms of franchising, selling shares, or even public listed. And they know that the better they build their business, the more people will want to buy and the higher the price. And what investors are looking for is a business that has a solid foundation, has proven tested ways to make money, and has a great system so that it is not dependent on people. Investors stay away from businesses that depend on the owner and do not have a clear way to make predictable cashflow.
So with this in mind, let’s spend more time working ON your business rather than IN your business. I truly believe a successful business is A Commercial Profitable Enterprise that Works without YOU. With 80% of business owners going bankrupt in the first 5 years, there are lots of people who need help. I hope you can help to distribute this knowledge sharing to create more abundance in the business community.
Coach Cynthia owns an ActionCOACH Business Coaching franchise that guides businesses to increase your business results with a proven 17-week guarantee. For a free business health check, go to www.acsj.co.id
– Coach Cynthia –
ActionCOACH South Jakarta business coaches guide businesses in selecting and implementing effective and cost-efficient marketing strategies to boost results with a proven 17-week guarantee. For more information on business coaching, visit www.actioncoachsouthjakarta.com or call 021 2567 5775 .
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