Business versus self-employment.

It's very important if you want to have your own business

to understand the difference between a business and self-employment.

Self-employment is what most people create

when they try to make their own business.

Self-employment is basically a job. The only difference is that you no longer

have a boss. You are both the boss and the employee.

Certainly self-employment is more fun than working for someone else,

but it has many problems.

The biggest problem is overwork.

For example, many lawyers are self-employed.

But they work too much.

50, 60, 70 or more hours a week. In many ways they don't own their business, their

business owns them. When self-employed, you're basically doing the same job you used to do for someone else.

A key trait of self-employment is that your business only makes money when you work.

If you take a vacation, your business stops making money or makes less.

A true business is... or makes less.

A true business is different. It's not the same as a job.

A business is an organization of systems.

It continues to work even when you are not working or present.

You create systems by automating your business and or training others to do parts of it.

Your goal is to create a business that can run without you.

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