Business Owner vs Self-employed Part 2
So knowing that being self-employed is basically owning a job like we discussed in yesterday’s post
The next logical question is – what is a business owner?
Well let’s take a look at some business owners,
Now I don’t know any of their names, but what I do know is that they own many businesses.
So there is the guy who decided to purchase the franchise for Wendy’s in his hometown.
Then there is the guy who runs a few retail outlet clothing lines. He apparently decided to open up a few outlets in every mall across America!
There is also the woman who owns and runs 5 cinema theaters in the state of Florida.
The guy that opened the shaved ice business is also opening up several branches. He started in his hometown as well.
Then we have the owner/s of Walgreens, WalMart, CVS (if they still exist), TacoBell, KFC and you can see the list goes on and on.
I’m wondering if by listing all these examples of business owners you’re starting to see a trend.
If you want to be a business owner you basically have to decide that systems are what is going to run your business.
As a business owner, you have laid the ground work, you’ve done all you need to do to just sit back and collect dividends.
As a business owner you can leave your business for a three month vacation and still make money.
So you’re probably asking me now
Trading time for money.
Hilary – I’m a small fry in a big pond.
How do I get to be a business owner.
Well you start small.
But keep in mind that your objective is to be able to EARN without time being a direct correlation to your earning potential.
This is where my mathematics brain kicked in when my Elite Marketing Pro coach started explaining this to me.
It’s not like you didn’t understand it before, it’s just that after hearing it enough times you’re able to take some sort of action on it.
So here’s the fundamental difference between a business owner and being self-employed.
If you are running a business and your “rate” is $450/hr or $100/hr or whatever – You’re self-employed.
If you sell a product that people purchase that allows them to get consultation from you on demand – you’re a business owner.
I think of being a business owner as someone who is reaping the benefit everyday of work done 10 years ago, 5 years ago, 1 year ago, even yesterday!
As an individual the way we get to this stage is by leveraging other systems.
If you don’t have products of your own to sell – you find other people’s products to sell.
Your responsibility is to create enough content that will drive the traffic to those products.
Here’s a very small example of my experience.
I have been doing Facebook Ads for the last six months.
Every month I change the ad and focus on a different product.
I spend about 20 to 30 mins creating the ad
Another 30 mins stepping up the sales funnel (capture page, follow up etc)
Then I place the Ad on Facebook.
Everyday I go on Facebook Ad Manager App on my phone and I check the progress.
If I see conversions and other metrics looking good I leave the Ad running for the month. If not I go and tweak something.
But I do this everyday.
Now thanks to the App I can do this on my phone.
So let’s say I take 5 mins each day to check the Ad (because you know we’ll get distracted on Facebook 🙂 )
So time for advertising for the month is 30+30 + (30*5) = 3.5 hours
That’s 3.5 hours of work for the month!
Remember the Ad is set up to take them to a page that captures their information then offers them a product to purchase.
For me the important part is the capturing of the information.
So if the product that you have available to sell cost $297.00 and someone purchases that product, you just made $297 for 3.5 hours of work.
Now if three people purchase – that’s $891 for the same 3.5 hours of work!
A self-employed person would have had to put out an additional 7 hours of work to earn that additional $594
That is not fun!
Business owners know how to leverage their time so that they are earning on work done years ago.
How can you become a business owner?
There are very different levels of business owners.
Using someone else’s system is a great way to break through.
Franchise owners do this all the time.
But you don’t have the kind of money to purchase a Franchise.
Plus you’ll still have to put in a lot of hours as a Franchise owner.
So what are your options.
Many people turn to Network Marketing and Affiliate Marketing.
If you’ve ever been an Amazon Associate then you understand what I mean.
Why do I recommend Elite Marketing Pro?
Because they create products that people are interested in.
I’m not saying people aren’t interested in soap and nutritional products,
But what I have found is that the easiest thing to sell people is knowledge!
People want to know about everything and they want to do it at a decent price.
You can use the same process I use with Elite Marketing Pro and start creating your OWN business.
And you can even get step by step training with me to be able to get you up and running.
When I started online marketing I didn’t know how to place an ad, create a capture or do anything like that.
Now I have this system down to an hour’s work!
Sure it may take you half day the first time you do it, but that’s because you’ll be writing down notes as I step through each step with you.
Then the next time we do it you’ll be taking less notes, until I’m just directing you and then you’re building on your own!
But you’re probably wondering how much I made with that ad!
Well I’ll be honest this month was not profitable.
I only sold 3 units earning me about $80 and I spend $100 in advertising.
But you have to remember people buy on their own time.
So what was more beneficial to me was the 20 leads (conversions) I got from that $100 spent.
Because I captured them into my funnel and I will communicate with them daily so that when they are ready to buy they will buy!
So my results may be different to yours. You may actually do better than me your first try, or you may not.
But consistently applying the process is what will get you closer to being a business owner and stop TRADING TIME FOR MONEY.
I hope you got great value from this post today!