Is It a Business Or a Job?

By , The Results Lady, Social Media and Online Marketing Strategist

Solo-E Certified Solo Entrepreneur Expert

Michele A Scism - The Results Lady, Social Media and Online Marketing Strategist

I want you to stop a second and think about what you are building? Are you building a real business – or are you just creating a series of jobs for yourself. I need to take a stand for you right now – and tell you that although the gig route is easier – if you are serious about having something for your hard work at the end of the day – building a solid business – a legacy business – is the way to go.

Here is my definition of a Legacy Business:

“A LEGACY business is the VEHICLE you use to make a lasting change in the world. It is bigger than you are. It is designed to survive the toughest tests that businesses can face; economic downturns, unexpected generational transitions and the process of finding a new owner. It’s not just LEAVING a Legacy – It’s LIVING your Legacy!”

The Test

Will your business survive without you?

About a year ago, the day before my birthday, I received a phone call. My mother needed help, my father hit is head and fell in the yard. I helped her get him to the hospital – he died two days later. My dad wasn’t going to die on my birthday. Because we had employees and systems in place, our business survived my Dad’s passing and the family had time to do what needed to be done.

As I was driving home about a week later, I saw that my favorite spa had a chain around the gate and was being sold by the bank. The woman who had owned and run it for the past 20 years had passed on about that same time has my Dad. When she was gone – the business was gone too.

30 years of hard work and nothing to show for it in the end.

It Doesn’t Have to Be That Way

The time to start planning your exit is when you are starting your business. You want to get systems in place that allow tasks to be transitioned from one person to another.

As the founder – you are responsible for the vision and the initial process. After that point, you should be looking to expand, to share you business with others.

Some Questions To Ask Yourself

Here are some questions to help you get started in formulating your plan.

  • If you remove YOU from your business what does it stand for? What is the change your business will create in the world?
  • What would my ideal exit strategy look like?
  • What would you like to accomplish in the next ten years?
  • What would you like to accomplish in the next five years?

 

Michele Scism is a decisive, driven and committed entrepreneur who helps successful business owners create passive income streams so they can stop working so hard and start enjoying the benefits of entrepreneurship.

Michele’s business expertise has been highlighted recently on NBC, CBS, Fox, Entrepreneur.com and Forbes.com. She is an international speaker, best-selling author and the Founder of Decisive Minds.

She is a serial entrepreneur who knows how it feels to fail miserably at business, at one time the bank actually called demanding their $1.5 million back, and also knows how it feels to sign the contract to sell your company for $9 million dollars. For business building tips visit http://DecisiveMinds.com

© Copyright 2015 Michele A Scism

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