This article uses a great article as the base by the Note taking nerd... here is the original... site seems down temporarily.
This article is for people who own a business, want a business. The principles of owning a business also apply to owning your life... so you may want to read this article even if you don't own a business....
I'd say at least 95% of business owners were employees before they started their own business.
If you want to guarantee you fail in business, approach it the same way you've approached all the jobs you've ever had.
The difference between running a business and being employed is as vast as the difference between being a child and being a parent.
It's very easy to think you understand what running a business is like because you've been employed by one. But if you want a business that makes more money than it spends, you've gotta ditch the idea that this is gonna happen with the same paradigm you brought to your jobs.
- George Carlin ( American stand-up comedian, social critic, satirist, actor, and writer )
Employees show up at work, sit there for a fixed amount of time and they get a paycheck for doing so.
They still get this paycheck whether they do just "okay" work or if they do "amazing" work. Employees even get paid if they don't show up if they've accrued "sick days" or "Vacation hours".
A business owner ONLY gets paid in proportion to the value they've created and the results they've produced.
Like carnivores in the wild, business owners only eat what they kill.
The second they stop providing value and getting productive results, the ship sinks and if they're really bad at managing money, they not only have no money coming in anymore, but they actually end up OWING money for the business that they killed.
So when it comes to workdays, the whole "Good news, bad news" joke fits here. The joke says, "The good news is that you're your own boss! And the bad news is that you're a REALLY incompetent and crappy boss!"
Life and working with clients has taught me along with the excellent research laid out in the book "You Are Not So Smart – A celebration of self delusion" has reinforced the lesson that most people give themselves credit for being far more awesome than they actually are. The book is in the subscribers' area of this site.
So when we bring our employee conditioning of "just wanting to do a little bit and have money magically appear" along with our broad general self delusion to the table, we're asking for drama.
And this is why "time management" is a misnomer.
Most people's primary motivation for getting into is business is because they don't want a boss telling them what to do.
And then they're shocked to find out they've now got 50 bosses because now they've got customers making them jump when they say jump. But that is the best case scenario... the worst case scenario is that they don't know what to do, and they don't know how to do it... They have no direction, no concept, no vision, no skills to take the business where they would like it to take to.
And if they're a start up and they have it in their head that they need to hire for all the "overhead" positions and more before they've even proven that their business concept is viable via bootstrapping and hustling, they end up with even more bosses because their employees boss them around after seeing that they don't have a clear understanding of what needs to be done and how to get it done.
Ownership is a capacity. Knowing what to do and how to do it... several capacities. When you don't have those capacities, you'll do really poorly.
Why? Because you think that a business (or your life) is like a bus with a set route. You take the bus that goes to success, and you expect it to take you to success.
But there are no buses in life, not like that. In fact you always drive the bus... the question is: where? Most people's buses don't leave the bus depot. And then some people's buses follow other buses, and crash and burn.
Many of you got on "my bus" expecting that I'll take you where you wanted to go.
I have given you new capacities, by turning the DNA capacity on. But capacities are only potentials.
As I am getting older, my eyesight is getting poorer. When there is a small print, I pick up the piece and go to the window or to a strong light source... and then I can read it.
The strong light source is the capacity. You not moving there to use it is you thinking you are a passenger. Got it? Stupid, eh?
Evolving Beyond The "Employee Mindset", the "Passenger Mindset" 1
Most people who get their act half way together and keep their business afloat stay confined to the identity of "Small Business Owner", "small life owner".
Reaching the level of being a Small Business Owner is better than having a job. This might allow you a slightly higher than average income, the title of being a business owner and that's about it.
This person is gonna be in the same position five years down the road as he is thirty years down the road.
This person has a website and some similar websites have come and gone through the years and maybe he has made some refinements and expanded but the person's business is pretty much the same as it's been for years and they have maintained a solid income for themselves.
The next step up from "Small Life Owner" is that of "Life Developer". These people figure out how to take their ordinary life and make it an extraordinary life.
And the next step up from this is becoming a "Professional Entrepreneur".
Another term for these people is "Serial Entrepreneurs" because they start one business, sell it off and then go start another business or add another business to the business they already have and they do this over and over again until they retire
Right now, I'm at the "Business Developer" level.
And one of the reasons I feel I've been able stay in the game as long as I have is because I don't delude myself of otherwise.
I don't try and act like a big corporation and hire people just to hire them or because "that's what businesses do – they hire employees."
I have done away with those delusions.
Oh, and when you don't know what's important, what is more important than other things... you definitely lack the hierarchy capacity...
I'll say more about it in my nerds-turds article...