Part Nine - Pros And Cons Of Business Ownership

PART NINE (Pros and Cons Of Business Ownership)

What is Business Ownership?
Business Ownership is any type of Business that you own, but not manage yourself.
Is Business Ownership for you?

Who belongs in this category?
Any type of a Business Owner that is not directly involved in managing his/her business
Do you have what it takes to be a Business Owner?

“ Business Ownership” Pros Business Owner Control: Yes Customer Base: Unlimited Leverage: Unlimited Multiple Income Streams: Unlimited Scalability: Unlimited Replic ability: Unlimited Growth Potential: Unlimited Profit ability: High

“ Business Ownership” Cons Business Owner Start-up Costs: High Carrying Costs: High

“ Business Ownership” Model
Pros: 8
Cons: 2
Level of Effectiveness = 80% Business Owner Control: Yes Customer Base: Unlimited Leverage: Unlimited Multiple Income Streams: Unlimited Scalability: Unlimited Replic ability: Unlimited Growth Potential: Unlimited Profit ability: High Business Owner Start-up Costs: High Carrying Costs: High

Analysis
Business Ownership Facts:
Bill Gates, Steve Jobs, Sam Walton do not work in their businesses anymore – they only define the overall direction and Microsoft, Apple and Wall-Mart operate and grow automatically, without them having to be there all the time

Analysis
Advantages of Business Ownership:
The highest leverage is achieved by multiplying multiple efforts of multiple resources – people, time and money – to maximize business objectives and create more value
Business Ownership provides the ultimate freedom for the owner

Analysis
Disadvantages of Business Ownership:
Start-up and operating costs are very high
Business Ownership requires outstanding vision and ‘uncommon sense’, in order to gain and sustain consistent growth and maintain competitive advantage

Takeaways
More Efforts of Multiple Resources =>
=> More Value => More Money => More Time =>
=> MORE FREEDOM FOR THE BUSINESS OWNER

Conclusion
We can’t change what happens to us, we can only change how we react to it.
Our reaction to those events that occur in our life is directly impacted by this philosophy and this is why it is so crucial to never stop looking at successful models of past and present.

What is YOUR Success Model?

Part Nine - Pros And Cons Of Business Ownership

by Val Slastnikov on Mar 02, 2009

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