One Thing Forgotten By Many Enterpreneurs For Successful Business
In ‘Qashflow Quadrant’ introduced by Robert Kiyosaki, Left Quadrant consists of Employee and Employee Self Service. Well, in this article I would like to remind that many people who start businesses forget the ultimate goal of a true Entrepreneur, which is located in Quadrant Right, which consists of the Business Owner and Investor.
Forgetting the true purpose of Entrepreneur is the root cause why 80% of new businesses go bankrupt after 5 years of existence, while few have survived and continued to evolve into a global giant.
What is actually meant by ‘forgetting’? Most people who are in his business do the operational works after years his business built without an attempt to build a system of the business itself. As such, they are stuck in the position of Self Employee forever. In fact, the true purpose of Entrepreneur actually is one word: Freedom.
Yes. Freedom! Free from technical and operational chores of our business. Free from the operational monotony of routine work. Actually, the last goal of Entrepreneur is freedom, and that means someone who is running a business should have a goal to be a Business Owner. Not Self-employed forever. If you continue to be Self-employed, you still have a role as an employee. The difference is that you work as an employee on your own business. It’s not a freedom that is ideal for a true Entrepreneur.
The goal’s highest level to be an Entrepreneur is to a Business Owner. By becoming a Business Owner, we will have the time freedom and financial freedom as well. Why I did not say ‘investor’? The answer is that being Investor is more of an “advanced options” of freedom that has acquired a Business Owner. When you have become a Business Owner, in principle, the time and financial freedom coveted all people in the world have achieved.
So what’s the relation of doing serve forever as a Self-employed with a 80% failure rate after 5 years the business built as I told before? You see, when you become Self-employed, and you take too long time being Self-employed, and you’re stuck in it, then you will not have time to develop your business systems. When you do not build and develop a system for your business, then you will not be able to delegate technical tasks and operations of your business to others. You will not have time to run your functions as the “brain” of your company. In fact, the role of the “brain” of the company first determine the direction and the success of a business.
Let me give you an example. Suppose you’re running a restaurant business, and you are good at cooking a delicious menu. In the early days, you will indeed spend a lot of time to do the job on its own restaurant operations, such as cooking, and also serve to guests, create and deploy advertising, financial paperwork, and so on. Yes, you do need to do it at first, especially given the fact that at that time you may not have so many people yet to help you. In this position, your status as a Self-employed. You are still an employee in your own company.
Do not forget this principle: True Business serves as the “Money Machine”. He will continue to function and walk with or without you in it. Truly “Money Machine”! So, when you still have a role as a Self-employed, you have to start allocating your mind and your power to build your business systems. This is the work of the brain. This is the work of the mind that was exhausting, especially during the initial start. But remember, once a good system began to wake up in your business, then your business will run by itself and can be duplicated in the branches of your business when the time comes you are able to “spread our wings”.
Please remember this: Your company will never be great and will never progress if you become Self-employed forever.
So, when you start a business, make the position as Business Owner (and investor if it interests you) as your destination!
Now you already have a ticket to separate yourself from the potential failure of 80% of businesses go bankrupt after 5 years of existence. Congratulations!
May success be with you!