Tuesday, October 31, 2017

An Entrepreneur NEVER Asks How Much Money You Make

I was at a networking event last evening and was chatting with someone and after some small talk, the topic turned to what I have been working on.    I mentioned one of my ventures to be my Market America business, which I started around nine years ago.   As in any business, I have had my challenges and successes and have valued what I have learned over the years understanding what works and doesn't work.    Eventually, my colleague asked me about my MA business and that dreaded question - "How Much Money Do You Make with Market America?"


My first impression of this person is that they do not understand business ownership, and the art of risk taking.   Typically, if you have a job, you are paid hourly or a salary for your time working at your employer.   You may get that 2% raise every once and a while for the overtime that you work.  Even though the question "How Much Money You Make" has a straight answer at your corporate job, it is still a ballsy question to ask someone.

The difference between a corporate job and owning your own business is how much you control your financial flexibility. 

You see if you and I owned the same business, selling the same products and service while participating in the same compensation plan,  it is very likely we would not be making the same amount of money.   Just because I make six-figures in my business, does not mean that you will make six-figures in yours.    That is the beauty of owning your own business.  You can dictate how much you earn, by how hard you work, how great you are leveraging your time and how self-sufficient you are leading the pack and building your own empire.  The ones that take action, simply succeed.

Now, there is a little more to being successful in your own business than working hard.   You would also need the ability to be a risk taker as mentioned earlier.  Corporate Employees are not risk takers.  They like comfort.   Entrepreneurs/Business Owners win the battle all the time since they are self aware and acknowledge what is happening in today's world and are fully aware there is more to life than a salary and performance raises.  Entrepreneurs set the bar in terms of how much money they make and also understand it is unfair to ask other entrepreneurs what they make.   They are risk takers that know social media is important, that age is not a factor in success and taking action is the most important road to success.

Finally, in summary, understand that in business, there is no cap on what you can accomplish whether it is financial or personal goals. 

Don't get defensive if someone asks you how much money you make with your business.  Instead educate that person that is depends on how much risk, how hard you work, how you leverage your time working your business and your willingness and patience to answer questions like the dreaded money question.

No comments:

Post a Comment

The Obsession, The Smartphone - How Businesses Can Take Advantage of Them

As I was driving into downtown Boston getting through yet another epic traffic jam, I couldn't help but look around at my fellow drivers...