The difference between being self-employed and being a business owner

There is a huge difference between being self-employed and being a business owner.

Most people think the two words mean the same thing.

THEY DON’T

Self-employed people often include professionals such as myself a nurse, doctors, beauticians, hairdressers, accountants, etc.

It also includes the “family” stores such as the local cafe and trinket shop.

These self-employed people ARE the business.

Without them there would be no business.

Their business relies on them showing up every day, day in and day out, and working long hours.

If they are sick, or go on holiday, or want to take a day off, the business usually stops.

Even worse, unless they have very trustworthy employees the income stops.

THE TRUTH

You will quickly discover that very few entrepreneurs are really entrepreneurs at all.

Instead, most of them are actually self-employed.

If your business depends 100% on you showing up every day, it’s not a business.

If you don’t have employees, systems and/or leverage, it’s not a business.

It’s a job.

There is nothing wrong with owning a job, if that’s what you want.

In many cases, it’ still much better than being an employee.

But not always……

WHY PEOPLE START A BUSINESS OF THEIR OWN

Many people leave the traditional employment field to start their own business.

All of these people have different reasons for doing it.

Some want to be their own boss.

Some want to choose their own hours.

Some of them are just sick and tired of having a boss, commuting to work, and playing office politics.

Others are really good at what they do and they want to be able to do things their own way.

I get that.

I respect that.

WHAT THEY DON’T REALIZE (WHAT I’VE LEARNT)

Most people don’t realize that it takes a different set of skills to run and grow a business than it does to do the technical work of the business.

Even worse, most newly self-employed people figure out after a few years that their business really owns them (it took me 3-5).

They work longer hours and get paid less money per hour than they did in their job. They reply to texts and emails 24/7.

It’s like a nightmare come true.

They are stressed out and burnt out.

That’s why you see so many self-employed people actually consider or return to their previous career as an employee.

It’s also why you see so many small business owners working 80 to 100 hours a week, without ever taking a holiday or day off.

After all, if they don’t show up the money stops.

And that can’t happen.

The bills keep coming in.

MY THOUGHTS

That might be fine with some people, but it’s not the way I want to live my life.

How about you?

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