Do you own a job or a business? Many entrepreneurs don't recognize the difference between the two. If you are a businessman, it is essential to know how your company performs if you're physically there and if you're not.
That way, you can find out if your business continues to profit or not. There's a litmus test to find out if what you have right now is really a business or just a job.
Listen to the podcast, watch the video, or read the transcript below.
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Transcript of Podcast
Hi, Robert Hirsch here from Freedom Factory, and one of the most frequent questions we get is, can I sell my business? And the answer is always yes. It just depends on what's the price. And if you own a job, it's very difficult to sell. And the multiple is usually one or less. And if you don't know whether you own a job or you own a business, there's a really easy litmus test to find out.
Just don't show up for a few weeks. If your income stays the same or goes up, you're on a business. If it goes down, you own a job.
The good news is there's a lot of value to be created by taking people that own jobs and transition to them, to people that own businesses. And what I mean by someone that owns a business or a business that holds its shape, if you will, when you're not there, when you're not the primary entrepreneur, you have systems and processes and employees and team that makes sure that you generate as much value as you can. So let's jump into that. Let's jump into what that looks like. So again, if you're not sure if you own a business or you own a job, just don't show up for a couple of weeks. If your income stays the same or goes up, you own a business. If it's lower, you own a job.
The good news. If you own a job, you can transition it to a business pretty easily. What you want to do is build your operations manual, your systems, your processes, and your team to get yourself out of the traditional workflow. So you're working on your business and not in it. If you need any help with processes like this, just give us a call at Freedom Factory. Thank you so much for watching. Please hit like and subscribe and we'll see you soon.
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Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
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Contact Freedom Factory
At Freedom Factory®, we have experienced and witnessed the explosive results of entrepreneurs aligning passion and purpose to create extraordinary value. However, most entrepreneurs have no idea how to maximize the value of their business and move on to the next chapter of their lives. That’s where we can help.
Freedom Factory® has radically disrupted the way high-growth, lifestyle companies are bought and sold, which historically was a horribly inefficient market. When I sold my first company in the 1990s, I went to several investment banks and sold my business to one of less than five companies they called. Looking back, I see exactly how much money I left on the table and knew that there had to be a better way. The bottom line is that entrepreneurs don’t speak banker, and bankers sure don’t speak entrepreneur.
https://tylertysdal.academia.edu/
Contact Tyler Tysdal at Freedom Factory
Freedom Factory
5500 Greenwood Plaza Blvd., Ste 230
Greenwood Village, CO 80111
Phone: 844-MAX-VALUE (844-629-8258)
https://www.freedomfactory.com/
Freedom Factory Managing Partners
Tyler Tysdal https://www.linkedin.com/in/tyler-tysdal
Robert Hirsch https://freedomfactory.com/about-robert-hirsch
Who is Tyler Tysdal?
Tyler Tysdal is a lifelong entrepreneur who first discovered the joys and challenges of self-employment at the age of 14. Tyler Tysdal was a collector and trader of baseball cards and his budding entrepreneurial spirit spurred him to create Triple T’s Sports Collectibles, a national mail-order trading card and memorabilia business that found a wide audience through ads in trade magazines. While market inefficiencies were numerous in this pre-internet era, a young Tyler Tysdal experienced his first big business win with $14,000 a month of profit result. A lot of money for 14. It hit him during a ride with his mom to the post office to mail dozens of card shipments: He would likely be an entrepreneur and investor the rest of his career.
Additional Websites to Follow Tyler Tysdal
https://soundcloud.com/tylertysdal
https://twitter.com/tysdaltyler
https://www.instagram.com/tyler_tysdal/
https://tylertysdal.com/
https://sites.google.com/view/tylertysdal
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Additional News Sources:
https://sites.google.com/view/howtosellabusiness/sell-your-business
https://www.newswireunited.com/
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