skip to Main Content

Do you own a job or a business?

Many people tell me they own a business when in reality they own a job; I separate the two with a simple criteria: can the business operate without you being there all the time? If it can you own a business but if not you own a job.

Why do you have a business? If you are just seeking to pay the bills and have some freedom then owning a job is fine but if you are wanting to build an asset that you can sell one day, then you need to own a business.
If is very hard to sell a business where the power is the business and the customers are so tied to the owner that when the current owner is no longer there they will not come back. The businesses that sell for $250,000 or less on average are jobs but could be made into businesses. The ones that sell above that tend to be absentee owners and will attract people looking for investments that will not tie up all their time.
The choice is yours but you need to have a clear plan based on the model you are using!

 

Leave a Reply

Your email address will not be published. Required fields are marked *