Making the Transition from Self Employed to Business Owner – Podcast #168

May 6, 2019 in Investing In Real Estate, Outsourcing - Virtual Assistants, Podcasts

Fire YourselfToday’s show on making the transition from self-employed to business owner. In part 1 of this 2-part episode, I asked this question: “Do you have a real business or have you just created a job for yourself”?  If they’re being truthful, most real estate investors will admit they’ve created this beast called a job.  And, it’s a job where they are working way too hard.

In part 1 I discussed what makes a true business owner different than most small businesses. A business is something that you can step away from that continues to run and generate income even if you aren’t there.

Here is an even bigger difference: “Entrepreneurs or true business owners, organize their businesses for growth. They know from the very beginning they want to scale. A true entrepreneur knows that their job isn’t to do the work, it’s to build a company that does the work”. I also talked about how to begin to outsource tasks in your business in part 1. You can see that it’s all about planning. They knew right from the beginning they were building a business.

It’s definitely not too late to pivot and begin the process to “fire yourself”.

If you missed part 1, I will put a link to that show below.  If you haven’t already gotten my work sheet “Fire Yourself” you can do that by CLICKING HERE.  

 

Fire Yourself – the 3 Step Process

We’re going to dive deep into the 3 basic steps to begin taking yourself out of the day to day operations of your business. Transitioning from self-employed to business owner doesn’t happen overnight, but it will happen if you have a plan.

Grab your worksheet if you haven’t already filled it out, and let’s make a plan for you to transition from self-employed to business owner.

 

Show Notes

Here is some of what we talked about in this show. Pull out your completed worksheet and make sure you haven’t left anything off as we put this plan together.

  • Take a hard look at your brain dump. Is every task in your business on that list?
  • Are you clear on revenue generating activities and non-revenue generating activities?  You may need to take a second look.  I listed examples of both of those in the podcast.
  • When it comes to important tasks that you are avoiding (like bookkeeping), things you’re not good at, and things that always seem to regularly fall through the cracks, make sure you come clean on those. You will want to outsource those things early on.
  • The things should you NEVER outsource and why
  • Where to find great freelancers and virtual assistants
  • Why a higher paid freelancer is better for some tasks than a low-level VA
  • Paying your freelancer
  • Training your VA or freelancer
  • My go-to places to find great VA’s and freelancers

 

Here's Your Podcast – Making the Transition from Self Employed to Business Owner

 

Thanks for Listening!

I would really love to hear from you.  Please leave a note in the comments section below.   And, if you enjoyed this episode, please share it on social media using the social share buttons below.

 

Did You Miss Part 1 of this 2 Part Episode?

You can listen by CLICKING HERE.

 

Resources Mentioned in this Show:

 

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Thanks again for joining me this week. I’ll see you next time!

 

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