Self Employment does not work

By Deeb Aqabani

OK - it sort of does. It provides you with a job that could return a reasonable income.

I’m very cynical about most of self employment arrangements. The reason I’m cynical is because the returns you get, as a self employed business owner, are not matched to the efforts you put into your business.

The good news though is that, if your business is set up properly as a small business, not just self employment arrangement, it does work and it could work extremely well.

We continuously hear stories about how successful some small businesses are and how the owners make millions year after year and enjoy a balanced life style and then wonder what we could do differently to achieve similar results.

In his book the 7 Habits of Highly Effective People Stephen R. Covey says:

“One definition of insanity is to keep doing the same things and expect to get different results – it can’t be done.”

You can’t get your business to a different place by following the same road and you can’t get there without direction.

In my experience the most difficult task to do is to get you, the small business owner, to change your mind set and realize that self employment, in the traditional meaning, is not the way to go. You need to start thinking as a business owner in the first place and realize that business concepts are the same. Whether you run a small business or a multibillion business, same business concept apply. The tools used could be different, resources available could be different and methods could be different but business concepts remain the same.

The question you need to ask yourself is how familiar are you with theses concepts. For example do you know what business model, structure and culture you apply to your business, do you know what works and what needs to change? Are you aware of your efficiency model and how as a team you can work more efficiently and free up capacity to do more? Have you thought about your pricing model, your customer relationship model, your growth model and your people model? Have you put some thoughts on how you manage your cash and explored options to improve cash flow. Many many questions need to be continuously asked.

My objective here is not to explain business concepts to you and I’m sue you are aware that people spend many years before they understand and master those concepts. My objective is to urge you to start thinking as a business owner rather than just as a self employed person. True business owners learn to ask the right questions and then look for the answers. Right answers are always available but unfortunately they will never come to you easily, you need to come to them. Once you did you will reap the rewards and wonder why haven’t you done so years ago.

Do YOU know what to do next?

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