GOING TO WORK VS. COMING TO A PLACE OF BUSINESS
As I've said before, owning and running a small business takes finesse, skill and patience. But most of all, it takes an understanding of the concepts and ideas involved in small business ownership and expansion. One of these things that must be understood is the vast difference between two concepts that, on the outside, appear to be very similar: The difference between going to work, to your everyday job, and coming to a place of business that you, yourself operate.
When you go to work, you typically know what to expect. There are some variances in day-to-day routine. But if you're a carpenter, for example, you're likely going to be building something. Likewise, if you're a plumber, you're going to be working with plumbing. It's fairly straightforward and, usually, you know ahead of time if anything is going to change. Almost every business owner has been an employee of another small business at some point, and many people believe that the transition, for example, from being a plumber to running your own plumbing company is pretty simple because you already know the job. However, it is important to realize that there is a difference between getting up in the morning and going to work versus coming to your place of business. Whether that place of business is a corporate headquarters, a small storefront or home office, the mindset and attitude required is different than the one needed to do a job. You must be prepared, in coming to your place of business, to handle any issues that may come up at any time. You may have little-to-no warning that a truck has broken down or that you have to find a replacement for your employee to make that 2 o'clock appointment with a client. You may find yourself suddenly burdened by financial issues or a disgruntled customer.
Even if you were a great plumber, when you own a business and go to your place of business to work, your job is not that of a plumber. It's that of a small business owner. It's important to remember that the role of a small business owner is vastly different'even if the product or service your business provides is your personal area of expertise.
Sincerely,
Ilya Bodner
Small Business Owner
About the Author:
Over the course of the last 5 years as an entrepreneur I have successfully launched, managed, and sold off several businesses. Each organization started has added some value to my understanding of the business world today. My philosophy has been that 9 things out of 10 that I try will fail, but that golden one is always worth the battle. In my experience that has proven to be the case and my successful businesses still operate today under the management of those whom I have sold off to. The latest project is Initial Underwriting Group, a corporation comprised of two concepts: 1) business credit building and 2) business loan underwriting. Specialties Leadership, Entrepreneurial Spirit and Mind, Management, negotiation skills, determination for success, understanding and willingness to work hard. Experience Owner Initial Underwriting Group (Privately Held; 1-10 employees; Financial Services industry) September 2003 - Present (4 years 6 months) Initial Underwriting Group (IUG) grew out of the financial side of working with small business owners. Our staff and executive team come from a background of debt settlement, debt restructuring, financing planning and investments. In the process we came to the realization that the average small business owner is forced to stretch to pay their consultants, and give the time that must be devoted. Making the leap to helping business owners was logical and bound to happen over time. We realized that the average small business owner knows little about business credit and often makes the mistake of mixing their personal credit/debt with their business credit/debt. We began working with customers - the small business owners, by showing them how to separate the two. IUG was formed because of this need. And our specially trained agents work one-on-one with small business owners. Co-Founder Insurance Consultants / Universal Resource Network (Privately Held; 1-10 employees; Financial Services industry) May 2002 - December 2006 (4 years 8 months) Universal Resource Network inhoused financial services such as long term planning, estate planning, life and key person insurance, business brokerage and other financial products. This business tailored to all consumer financial needs from personal assets to business liabilities. Reaching close to $2mil in premium collected and a dozen employees I have successfully sold off the business to the managing partners and co-founders. Co-Founder J I Financial (Privately Held; 11-50 employees; Consumer Services industry) May 2002 - December 2005 (3 years 8 months) Debt Settlement, Debt Consolidation, Debt Management and Debt Restructuring. Fully established an office to conduct over $5mil in debt-under-management with over 20 agents and thousands of customers. Upon a partnership with a local law firm and a realignment in the workflow the office has further expanded into more services for each individual customer. With the growth I have successfully negotiated the sale of the assets between a private company and the law office attorneys. The business still operated today with over 4,500 customers in and out.