Do you own a business? perhaps not.
 

You own your own business if you can go away and leave it and know it will run perfectly without you, if this is not the case you are not a business owner but a sole trader...

Someone said this to me, what do you think?

Darren

i can go away and leave it to someone else while i am gone.. though i am not sure if i would ever do that

he prolly works at walmart right?

i have a registered business yes. :)

I own four corporations in Canada and the U.S.

For a little while ok, but you got the be an idiot to completely hand it over to someone else. You gotta keep an eye on it cause someone will try to fuck you.

If I would go away what should I be doing whole day? ;-)

hahahaha

It nice really... here.

I think he read Rich Dad, Poor Dad.

I heard so much about that book..then I started to read it and what a fucking waste of time.

Read it, not a bad book. I'm looking for Mind Lines now and am currently into The Seven Habits of Highly Successful People.

I have a lot of catch up learning to do. :)

Business owners who have vital roles can never leave things to run "perfectly" without them. As the old saying goes, "When the cat is away, the mice will play".

I thought it was a pretty good book for people that are wage slaves and are living paycheck to paycheck.

that makes no sense

Sounds more like a phrase I read in E-myth. Great book and a suggested read for everyone :thumbsup

Yeah I don't know...it was too "Carlos Castanedaish" for me.

Whoever said that is somewhat confused. In theory a sole trader can own a business with 10,000 employees. It describes who makes the decisions and who carries the liability. Sole trader or not its still a business.

the great thing about the net is that you can literally monitor all employees remotely.

I am owner I can go away or live ....

Would you like to be able to leave your business and start another one though, knowing the first business you started was in great hands?

You wouldn't want to be a sole proprietor (American for "sole trader") if you had 10,000 employees. Major liability issues, tax concerns, etc.

Darren is right about the difference between a business owner and being an employee of a business (even if you started it or it's dependent on your trade). The goal is sustainable income and priority number one is an exit strategy. The key is setting up the right system so that you know, no matter what, the company will run correctly. Then you go on to start your next company, with minimal oversight on the first.

If you don't have a system in place independent of yourself, then you aren't running the business as effective as possible. Therefore it's a glorified job.

Actually interesting thing :) For me it works now fine even without me. But it took maybe 3 years to get it there. However, its not easy to be away from the desk too long... I wish to do always something or at least think different ways to increase $$$