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Do you own an asset? Or just an expensive, stressful job?
For many entrepreneurs, their business provides a means of employment and income as well as an outlet of their passion and desire for an independent lifestyle. However, many business owners don’t realize that their business is, in actuality, an asset that should one day be monetized for their financial benefit and that of their family.
Because business owners don’t often think of their business as an asset, they don’t manage it as an asset. While they may focus on running the business successfully, they don’t focus on growing its value. Instead, they treat the business like a job, and as long as it’s generating sufficient income to support their lifestyle, then it’s considered a success.
By not treating your business like an asset, you could be missing out on growth opportunities today and the potential for a more financially flexible life tomorrow.
How do you know if you treat your business like a job?