Two different worlds..

Hi friends,

Have you ever heard someone say “that does sound good, but remember everything can change in a second”?

I'm sure that you have heard that comment when proposing something that has to do with money. That is the context that I have heard it in throughout the last couple of weeks.

I have recently been debating making a major financial decision and this comment has been all I have heard. Well did you know that there is a way to actually decrease the likelihood of this statement becoming reality?

I have noticed that this comment has always come from people that have normal jobs, ya know the 9 to 5 or 7 to 3, whatever it may be. But the reason I am beginning by pointing this fact out is because this statement is not true for me, and the reason for it is that I am a business owner.

I own my own business...that is what changes everything. I just have to sit back and shake my head when I hear someone say “everything can change in a second”.

Let me explain why this IS true for those with “jobs”

when you work for a company you don't really have any control. The irony of it is that most people in this situation always preach “get a good, secure job” when really true security is going to come from control. And like I said you don't have any working for someone else. If the owners of your company decide they want to retire, and sell the company to someone that has never ran a business in their live. Your secure job of 15 years could be non-existent within a couple of months. Not to mention the fear of being laid off that many people are dealing with now days.

From the paragraph above you could agree that yeah everything could change in a second.

But......if you were in my situation. I control the following,

-how much I get paid

-when I go into work

-how long I work

-if I work at all

These are the reasons I have made the choice in my life to be an entrepreneur, and I would like to see others do the same. The fact is Business is fairly fast paced and isn't the easiest thing in the world, but you have more time to react as an owner than as an employee. When your employer gathers everyone together, to tell them they're getting laid off, don't let them fool you. They will tell you they didn't know this was coming but the truth is that they knew four months ago.

When you are the owner you have much more control and time to fix your problems. Lets look at a couple of situations.

Situation #1Your employer had a meeting today and told you that you may be getting laid off within the next 4 weeks.

What you can do: nothing, work harder and still get laid off, suck it up and wait for it.

Really the fact is that there isn't anything that YOU can really do that's going to make any difference. You could work harder, try to be more productive, and come in early and work for free for a couple of minutes. But the problem usually isn't anything to do with the employees of a company. It has to do with the business dealings of the company and that is what leads us to situation # 2.

Situation #2

This is the situation I would encounter as the business owner.

So I am going through the profit and loss data, and notice that I am moving more towards the red every month, and If the company keeps going the way it is it will be in the red ( negative cashflow) by the end of next month.

What can I do:

Increase marketing, increase advertising, cut expenses, reorganize systems, and many more.

As you can see from the information that I have provided, the place you want to be is on the owner side of the table. Many people are thinking to themselves right now

“i didn't go to school for an MBA, and I have never owned a business, how is it you are going to tell me I should own my own now”

or

“starting a business is expensive, and the loan I would have to take out would only put me in a worse financial situation”

well I have a solution to both of these problems, which I will write about in my next blog entitled “the new way of business” so keep an eye out for the next day or too.

talk to you soon

your teacher in financial education,

Brad Smith

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