Entrepreneur or Self-Employed? There is a Big Difference

Many people dream of starting and operating their own business. We at My Perfect Economy agree that the freedom and thrill of being a business owner is something everybody should experience at least once in their lives.

When it comes to building the financial capital potential in our persona economies, there is no greater potential and leverage to attain a lifestyle of freedom on multiple levels than being an entrepreneur. As an entrepreneur everybody has an equal opportunity to achieve ultimate success or not. Either way, an entrepreneur is completely accountable to him or herself alone which is where the thrill comes in. The adventure of being "self-made" can be both exhilarating and scary at the same time.

The unfortunate truth however is that with the pursuit of the entrepreneurial dream comes a great possibility of failure. Statistics say that up to 4 out of 5 small businesses fail within the first two years. But to us, failure is not that big of a deal. Other studies have shown that millionaires have failed an average of 7 businesses before hitting the first home run. We can attest to this from personal experience. Here at My Perfect Economy we are surrounded by "serial entrepreneurs," with some in their double digits for business ventures. The fact is, failure, if examined in the proper context is a good thing. Failure is actually a critical part of success and anybody serious about being an entrepreneur should not be afraid to fail.

Aside from failure, there is something that can crush the entrepreneurial spirit before one even has a chance to see the dawn of success;

The mindset of being self-employed.

There is a huge difference between being an entrepreneur and self-employed.

People who are self-employed work for their business. Whereas the business should really be working for the true entrepreneur. When you work for your business, everything rests on you. Entrepreneurs understand how to get others working for them by providing employment and learn how to create systems of profitability.

For those who are self-employed, the business stops when they don't show up. But for the true entrepreneur, the business keeps making money whether they are present or not. This is why the greatest entrepreneurs are more interested in residual streams of cash flow versus just building a big company steeped with pressure and responsibilities.

Those who are self-employed work in their business. True entrepreneurs work on their business. Self-employed are reactionary and basically exist daily to simply keep the business alive. Entrepreneurs are proactive and strategic. They have the ability to step back and ask some tough questions and make the even tougher decisions.

So if you are considering the life of an entrepreneur, really ask yourself on whether you are just settling for being self-employed. There is a big difference. We suggest you examine real entrepreneurs and how they are different from the rest.

Good luck in building your perfect economy!


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