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Business Tips – From Employee to Entrepreneur – Part 9

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Please note that this pertains to South African Legislation and Best Practice requirements.

So far we have looked at:-
1. The difference between being an employee and an employer;
2. Your Purpose:
3. The People around you and
4. Your Personal Footprint.
5. Knowledge & what you do with it
6. The Generosity of your Spirit
7. The Role of Technology in your Business
8. Self Confidence
9. Creativity
10. Focus
11. Vision
12. Result
13. Networking
14. Leadership
15. Management
16. Problem Solving
17. Being Innovative
18. Teamwork
19. Strategy
20. Branding
21. Marketing
22. Profit and Passion

Today we will explore the last three in this series.

1. Scalability
Contrary to popular belief in many quarters, there is a huge difference between being a small business owner and being self-employed. Make no mistake, whilst it is incredibly important to keep your finger on the pulse of your business and be aware of exactly what is happening in every aspect of it, the reality is if your business is not fully defined as a company and if it is still reliant on you for its very survival, well then you are self-employed. There is no right or wrong for either, it is purely dependent on the way the company (or you) operate.

It is important, however, that when you plan for the future that you understand the difference between the two (being self-employed and owning a company that is).

2. Leverage
At some point in time, most business owners need funding. Make sure that your business plan remains current as well as accurate and that you have made allowances for the interest that needs to be paid back (when you are calculating what you need and then what you can afford to pay back as well).

And finally . . .

3. Legacy
Like it or not, we all leave a footprint of one sort or another on this planet. We are all responsible, one way or another, for the consequences of our thoughts and actions.

The decisions that you have made, or not, have impacted our planet, your community, your colleagues, your friends, your family and more importantly on yourselves.

What will be you remembered for when you are gone?

Of course, we all need to make money to improve our lives and the lives of our families, but we also need to make a difference and leave the world a richer place for our having been here.

. . . and oh! Don’t forget to always have fun!

Part 1

Part 2

Part 3

Part 4

Part 5

Part 6

Part 7

Part 8