The ultimate test of your business can be found in a simple question: would someone want to buy your company? Whether you want to sell your business next year or a decade from
now, you must be building an asset someone would buy – otherwise, you
have a job, not a business.
Here are eight ways to ensure you are building a business, not just doing a job:
- A job requires that you show up at work to make money, whereas a company generates revenue whether you are there or not.
- If your company is so reliant on a single customer that they can
dictate how you deliver your product or service, your company is more
like a job than a valuable business.
- A job is a place where your personal reputation impacts your
results, whereas a company is a place where the brand is more important
than the personality of the founder(s).
- A job requires you to use your personal experience and expertise to
get a result, whereas a company is a place where a process – not a
person – consistently produces a desirable result.
- In a job, you get fired for taking too much vacation, whereas if you
own a company, the more vacation you can take without impacting your
company’s performance, the more valuable your business will be.
- In a job, the harder you work, the more money you earn. In a company, the smarter you work, the more money you earn.
- In a job, you solve the problems. If you own a company, your employees solve the problems.
- If the majority of your customers know your mobile phone number, it’s likely you have a job, not a company.
Source: http://www.bizbrokerblog.com/selling-a-business/8-ways-know-job-business
