Are You an Entrepreneur or Self-employed?
Written on October 27, 2007 by Amanda M. Gladden
A few years ago while attending a seminar for small business owners in New York City, one of the speakers asked, ” How many of you in this room have your own business?” Naturally every hand in the audience shot up. Next he asked, “how many of you, would have money coming in from your business if you were to get ill tomorrow or even as you sit here listening to me?”
Almost every hand went down. He said, “Well people, all of you have made a major mistake. You all created self employment for yourselves which is very different from being an entrepreneur creating a profitable business.”
That gave me pause. He went on to explain that as long as you are still in a situation where no work = no income, you are self-employed. In the next guest post, What Have You Created for Yourself?, business coach Sandra Martini explains the 5W’s you should be asking yourself to avoid falling into the trap of the self-employed. In another post, I’ll touch on incorporating passive sources of income in your game plan for maximum success as a business owner.
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October 31st, 2007 at 5:00 pm
I just read a great book on this topic called the Four Hour WorkWeek. Has great ideas for small business automation.
November 6th, 2007 at 4:23 am
I’m trying to set up my passive income streams so I don’t have to worry about not being employed.
infact I just quit my job so I can focus on creating passive income streams!
November 9th, 2007 at 8:10 pm
One thing that is worth mentioning, is that if you have an online business you can do this a lot easier than with an off-line business. This is because you can setup everything at the beginning and just do the promotion later. It is also a good idea to promote other peoples products that have affiliate programs. This way they can deliver the product to the clients, and you just promote the product and get the commission. Also if you can get a residual income, that is even better. That allows you to make money month after month, regardless of if you work or not. Of course you will need to do the work at the beginning, but after that everything else is automated for you.
December 13th, 2007 at 7:33 pm
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