Mar 16, 2020
Do you own a job or a business? Many entrepreneurs don't
recognize the difference between the two. If you are a businessman,
it is essential to know how your company performs if you're
physically there and if you're not.
That way, you can find out if your business continues to profit or not. There's a litmus test to find out if what you have right now is really a business or just a job.
Listen to the podcast, watch the video, or read the transcript below.
Additional Videos From Freedom Factory
Transcript of Podcast
Hi, Robert Hirsch here from Freedom Factory, and one of the most
frequent questions we get is, can I sell my business? And the
answer is always yes. It just depends on what's the price. And if
you own a job, it's very difficult to sell. And the multiple is
usually one or less. And if you don't know whether you own a job or
you own a business, there's a really easy litmus test to find
Just don't show up for a few weeks. If your income stays the same or goes up, you're on a business. If it goes down, you own a job.
The good news is there's a lot of value to be created by taking people that own jobs and transition to them, to people that own businesses. And what I mean by someone that owns a business or a business that holds its shape, if you will, when you're not there, when you're not the primary entrepreneur, you have systems and processes and employees and team that makes sure that you generate as much value as you can. So let's jump into that. Let's jump into what that looks like. So again, if you're not sure if you own a business or you own a job, just don't show up for a couple of weeks. If your income stays the same or goes up, you own a business. If it's lower, you own a job.
The good news. If you own a job, you can transition it to a business pretty easily. What you want to do is build your operations manual, your systems, your processes, and your team to get yourself out of the traditional workflow. So you're working on your business and not in it. If you need any help with processes like this, just give us a call at Freedom Factory. Thank you so much for watching. Please hit like and subscribe and we'll see you soon.
Also, Follow Freedom Factory here
Freedom Factory - Best Business Brokers - video portfolio
Available on Youtube: