ENTREPRENEUR VS. BUSINESS OWNER (PART 1)

1 year ago


Many businesses aren’t started by entrepreneurs!

Many businesses are started by people who are simply interested in a decent life working for themselves without any pressure. Michael E. Gerber, the renowned small business guru, says many people start a business to get rid of a boss. This doesn’t imply that your intentions are bad, it simply means that the people who start businesses must learn a particular set of skills that helps them achieve their objectives. That’s what BPI Advisory is all about! It’s about helping you achieve the objective for starting your business in the first place – freedom!

While some business owners would like to change the world with their ideas, others simply want something that allows them indulge in many of life’s luxuries. Is that too much to ask? Of course not! You just need to learn how to do exactly that. You need to learn how to build a business that works independent of you – I call it the business that works like a clock.

Over the years of my career, I have seen many businesses with simple intentions die. The tragedy with the death of a business is the fact that it often affects an entirely family or in some cases, community of people. Over 90% of businesses globally start with funding from family and friends. In some countries, over 99% of businesses start with funding from family and friends. Think about that for a moment. Think about that individual who had an excellent business idea and was so convinced about its potential for success that they gathered their personal savings and went to family members to get a “soft loan” to start this business designed to execute this grand idea. This person quits their job and goes for it with everything they’ve got, no holds barred. And then 6 to 18 months down the line, sales are low, salaries and unpaid and our dear business owner is simply exhausted. The annals of history is filled with many of such stories.

To avoid this all too familiar scenario, business owners must recognize that the skills required to grow a business differs rather significantly from the skills most currently possess. They need to transit from being a time teller to a clock builder – they need to transit from satisfying one or two customers to satisfying thousands or even millions per time. Every successful enterprise has made this transition and with the right guidance, you can do it too. In fact, you must do it too – you owe it to yourself and everyone who has believed in you.

Your Next Step

First, you must commit to learning and following through on what you learn. Discipline is vital.

Second, be consistent. Consistency is the key to success and not necessarily perfection. Make sure you have your eyes set on the goal and refuse to waver. Be resolute and don’t quit.

Over the course of this blog, I’ll be working with you on this journey and I’ll do my best to provide all the help I can. I need you to work with me and don’t quit on me. I’m confident that you’re going to do great.

Stay inspired my friend!
Deji

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