Many people had dreams to start their own business. But unfortunately, they become a self-employed person. Are you a Business Owner or Self Employed? Know the answer in this episode.
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There was a guy Ben. He was a good student all his education career. His parents were proud of him for his behavior and performance in his education and his participation in other extracurricular activities too. Everyone expected him to get a great job with a handsome salary one day. But Ben has some other ideas in hand. He always dreamed of owning his own business. He wanted to be the boss rather than working for some others. After he has finished his education, he started a new business as he always dreamt of. He arranged various infrastructure and other requirements for the business.
After few months after the commencement of the business, he gained a feeling of dissatisfaction. It was not because he was not earning out of his business, but the reason was that the lifestyle was not the same as that he dreamed of. He had some other thing in mind which he has not met yet. He had a successful running business and loyal employees and customers. But he was not happy with the lifestyle. He noticed that he was no doubt owned his own business, but he has the same responsibilities that an employee has. He took responsibility at the counter by managing the bills of the business.
He had to be at the business counter sharp at 9’o’clock just with his employees, work at the counter and then return home with the employees in the evening. This was not what he dreamed of. He dreamed of owning a business but wanted something other than this.
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Self Employed Vs. Business Owner
There are two terms in the field of business that people often use interchangeably without knowing their meaning in the right sense. These terms are Self- Employed and Business Owner. Now you may ask me that these terms are the same. Actually, they are not. These two terms are not the same.
Self- Employed implies that you employ yourself for a business or task and generally this happens at your own business. On the other hand, Business Owner owns the business and doesn’t take heed of the day-to-day responsibilities of the business. Let us make the meanings clear by taking the above example of Ben into consideration. Ben has started his own business, but he took the responsibility at the billing counter to have a clear grip on the cash. He was right in one sense, but he failed to notice that he has Self-Employed himself in this process. This is the reason he was not happy with what he was doing.
Business owners just own the entire business and manage them but accurately putting in place people and other assets for the operation by itself. They only look at the overall operations in a bird's eye view. This was something that was not understood by Ben. This led him to become an employee of his own business.
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Many people do the same mistake in their business. All of these dreamers actually want to become business owners but end up becoming self–employed people. In the initial days of the business, it is indeed ok to be self-employed as you can save the expense for the candidate at that position. But this is not going to work in the long-term scenario. When the business reaches a certain level it needs to be automated without the direct intervention of the owner, this is the stage that every business should end up in. Only this can make the owner free and make him (her) easy to look for expanding and alternative businesses and investments.
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Bottom Line:
Till recent times, I too never had an idea about the difference between self-employed and business owners. But when I clearly understood the difference I found the real meaning of owning business ownership. I think this blog would be helpful to those people who are aspiring towards owning a business shortly.
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Nice content
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