Originally Posted by FourTrees
Good critical point.
The difference is in who owns what. Do you own the business or does it own you.
You ask yourself if I could not go to work for five, ten, twenty days (insert 1 million reasons) here; what would happen to my business.
If the answer is that it would collapse or no work would get done then your business owns you. The risk here is that if you break a leg, get west nile from a squito, have a close one die; then chances are high that you business may not survive. What happens as you get older we are not indestructible?
A good businessman sets up his business so that he runs it. If he has to step out for a day, a week, a month; the business will continue to thrive. this is the best business. If any of the fore mentioned disasters happen then you still make money. You could be in another state taking care of Mom after the death of your Father (making calls and such to make sure things are still going withough much hassle). You could be sitting at home mending that dislocated back or broken leg, and the business still brings in the money. You die and are able to leave a well functioning company that continues to bring in income for your family.
The broken leg thing is from expereince. One month into doing this full time, I bust my leg. I cried (yes I am man enough to admit I cried. I was angry and frustrated), but I had a plan so I kept going. I got the help I needed, but they were not trained enough to run the business without me. Do many of you know how painfull it is to go back to work two days after breaking your ankle. Riding mowers are nice, but they sure can aggrivate a broken leg and cause it to ache constantly. I was in a cast for a month. You should have seen me try to trim with one crutch and a leg in a cast.
I survived, barely. I was angry at myself because I knew better. I have a degree in business. I had not had enough time to develop my plan and implement it. Implementing the plan is critical, but you have to have it first. Then you get things running, BUT you must have you exit strategy from the day to day work. If not then you are not running your business it runs you.
Eventually something will happen that keeps you from daily work (old age, retirement, tragedy) are you prepared for that day.
(takes of the gloves)
A solo guy has a nice job that pays him well. A business man runs his business how he chooses to.
Your owned by your business no matter what. I ran a construction company for 11 years. I had 3 crews and over 1M in equipment. Its still owned me!