Do you have a job or own a business?

Growth & Strategy

Whether you want to sell next year or a decade from now, you must be building an asset someone would buy – otherwise, you have a job, not a business. 

Here are eight ways to ensure you are building a company, not just doing a job:

1. A job requires that you show up at work to make money, whereas a company generates revenue whether you are there or not.

2. If your company is so reliant on a single customer that they can dictate how you deliver your product or service, your company is more like a job than a valuable business.

3. A job is a place where your personal reputation impacts your results, whereas a company is a place where the brand is more important than the personality of the founder(s).

4. A job requires you to use your personal experience and expertise to get a result, whereas a company is a place where a process – not a person – consistently produces a desirable result.

5. In a job, you get fired for taking too much vacation, whereas if you own a company, the more vacation you can take without impacting your company’s performance, the more valuable your business will be.

6. In a job, the harder you work, the more money you earn. In a company, the smarter you work, the more money you earn.

7. In a job, you solve the problems. If you own a company, your employees solve the problems.

8. If the majority of your customers know your mobile phone number, it’s likely you have a job, not a company.

If you’re wondering how differentiated your businesses is, take the 13-minute Value Builder Score questionnaire <click here> and find out….  

Reading List

  1. The Hidden Goal Of The Smartest Investor

    What are your business goals for the year? If you’re like most owners, you have a profit goal you want to hit. You may also have a top line revenue number that’s important to you. While those goals are important, there is another objective that may have an even bigger payoff: building a sellable business.
  2. Six Power Ratios to Start Tracking Now

    If you’re planning to sell your company one day, here’s a list of six ratios to start tracking in your business now.
  3. Rich vs. Famous

    Have you set a goal for your company this year?
  4. How Your Age Shapes Your Exit Plan

    Your age has a big impact on your attitude toward your business, and your feelings about one day getting out of it.
  5. Acquire a Company Using a Leverage Buyout

    How can you buy a business with no cash of your own? It's actually simpler than you might think.
  6. How to Get Rich in 3 (Really Difficult) Steps

    Becoming wealthy may not be your primary goal, but if it is, there is a reasonably predictable way to get rich in society.
  7. Do you have a job or own a business?

    The ultimate test of your business can be found in a simple question: would someone want to buy your company?
  8. Subscribers Make Your Company More Valuable

    Why are Amazon, Apple and many of the most promising Silicon Valley start-ups and established company's leveraging a subscription business model?
  9. 10 Things That Make Your Business More Valuable

    Here are some insights on how to increase the value of your business.
  10. Four Ways To Protect Your Turf

    Big companies lock out their competitors by out-slugging them in capital infrastructure investments, but smaller businesses have to be smarter about how they defend their turf.