Here's the Question:
Are You Building a Business or Making a Living
We often have our clients on our minds. Many of them are small businesses that face all the usual challenges - and we like to have ideas, insights and resources to offer. In that vein, recently this part of an interesting article caught our eye:
Many small business owners are not truly building a business; they're creating jobs for themselves. The definition of a business is making money off of the labor of someone else and creating something that has value beyond your effort. Many small businesses don't have a strategy for making a business that can be sold after they're done working at it, they are only creating a revenue stream. At the end of the day, you can’t take that business down to the bank and expand it or sell it to someone.
If our headline question intrigues you, we are recommending this article because it offers useful insight and it is well worth a read.
Building a Business vs. Making a Living
By Karen Klein, Entrepreneurship and small-business issues, Bloomberg News
You need to comprehend financial basics to make your venture more than just a revenue stream, says Bill Hettinger. Learn how to read cash-flow statements and gauge your competitive position.
What’s your opinion about the article? Does it make you think, raise questions or prompt you to want a discussion about your business? If so, call us. We enjoy feedback,
so get in touch.
