MTR Virtual Solutions, LLC

Posts Tagged ‘small business owners’

This post is inspired by the book “The 4-Hour Workweek.”  One of the sections in the book discusses the difference between a small business owner and a self-employed individual that runs a business.  Most small business owners make the mistake of building a business completely around their level of involvement.

I took a look at most of the small business owners I’ve dealt with over the years.  I   realize that most small business owners design the business completely around themselves.  Most small business owners build their businesses with an individual-centered mindset versus a process-oriented one.  This puts the small business owner at the helm of a business for an indefinite amount of time.

It is desirable for most entrepreneurs to run a successful small business, longevity is often the goal.  Small business owners have to be careful and consider what the risks are in having their business becoming too reliant on them long-term.  There’s nothing wrong with wanting to run a business, if the goal is to remain self-employed.  Being self-employed is a great and rewarding way to make a living, but the self-employed individual will not have as much flexibility as the business owner.

The effective business owner designs a business with strong processes in mind.  The strength of those processes directly affects an entrepreneur’s ability to do things like live, transition, or vacation.

Many small business owners aren’t optimistic enough to believe that their business will eventually take off. As a result, they put off the documentation of certain processes and delay the training of capable individuals to transition into their current roles.

It’s perfectly fine to be optimistic and think long-term about the direction you’d like to see your business grow in.  All small business owners should consider whether or not they want to be self-employed or business owners.  It’s never too late for the entrepreneur to make his or her business a process-oriented one.