Consider the various routes successful entrepreneurs business owners take when building a successful operation. It is important to consider that the path taken is varied, and success need not necessarily follow one specific path. Bill Gates did not invent the MS-DOS program that became the Windows operating system we know today. Entrepreneurs can start with an idea, and turn it into a successful business venture. Entrepreneurs can buy a business, step in and continue that operation and grow it. Entrepreneurs can “buy a job.”
“You Are Not Buying a Business You Are Buying a Job”
This statement has been attributed to certain business opportunities that potential business buyers or entrepreneurs are evaluating. Is it wrong to buy a business, when what you are doing is” buying a job”? Firstly what the statement is intended to denote is that, you will be an integral part of the daily operation, the business may not operate properly without your daily workload, you will not necessarily be in a fixed overhead or supervisory role but rather part of the variable cost of running an operation. You will be buying a business that you be working at in the day to day operations.
For example if your spouse and you buy an existing business that is a 2 man Sandwich shop- you may be “buying a job.” At times the prospects of “buying a job” in lieu of buying a business is viewed as a negative. Is it wrong to “buy a job.” Personally I dont think so. Consider the scenario of the employee that worked for the same company for 15 years, walks in his office one Monday morning to learn that he has been let go, downsized, fired, or laid-off. When YOU buy your own business or buy your own job, WHO is going to walk in your office and fire you? Nobody. You have control of your destiny not always offered when working for others. When you own your own business you know how the company is doing. You don’t spend a minute of your time concerning yourself on how your superiors view your performance.
Do you ever wonder where the largest source of buyers of business comes from. Most future buyers of business are employees right now, or were employees and have been let go and are ready to sieze more control over their destiny. Currently I am working with a few people of which are both the combination of currently employed and recently let go. Whether you buy a business or look to start your own business, your should be prepared for some hard work. You will probably work harder and stress more than when working for others but does the trade off of control and working for yourself make it worth it? Today one is buying a business in a buyers market. More sellers are offering seller financing when selling their business. Maybe it is a good time to buy a job