Tuesday, March 30, 2010

Is Your Business Heading In The Right Direction? Answer This Question

I had an interesting conversation the other day about the words entrepreneur and small-business owner? What do they mean? Are they both different creatures?

I think they are one in the same, but I seem to be in the minority on that point. Even if they are a bit different, there isn't much of a difference. Either way, let's not get caught up in semantics. If you really want to categorize business owners, there's only one question to ask:

If you (the business owner, entrepreneur or whatever you call yourself) are hit by a bus tomorrow and (God forbid) are no longer with us, is your company still going to be open for business Monday morning?

If you answered yes, congratulations. You are building a business. (You actually read the E-Myth and got it.)

If you answered no, you have a job, not a business.

Now, there is nothing wrong with owning a job. In fact, there are many advantages (pay, time, flexibility). And, it is not easy by any stretch of the imagination (sometimes more difficult than being CEO of a larger company). However, you're not building anything for the future. You haven't developed a concept that can stand on its own. You haven't created such raving fans that, even without you, still need what you provide.

Entrepreneur or small-business owner? Tomato or tomato!

Will your business survive without you? That's the real question.

--Ron Ameln, SBM

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