A JOB OR A BUSINESS?

Many professionals and small business owners believe they
own a business when in fact they have actually created a
job for themselves. The difference is in your systems.
A business is a collection of systems and processes that
produce results. A job is a task or skill performed by a
person in exchange for money. If you are only paid when you
show up and do your work, then no matter what your tax
return might say, you are self-employed and have a job.
Creating a job for yourself is no small thing! Building a
profitable law practice or dental practice, or being a
professional coach are major accomplishments! Providing a
service while maintaining your skills, serving customers,
marketing yourself and running the show is a huge
achievement. But it isn't a "business," it's your job.
A business is organized so that as employees come and go,
the tasks can be performed by different people. A business
has systems that allow it to function when the boss is sick
or away on vacation. A business has a sense of flow and
momentum so that customers see no difference regardless of
who fills their order or provides the service. A business
can be sold as a free-standing enterprise.
I want to be clear that there are advantages to both
processes, and for many people, being self-employed is
highly desirable. They don't want to make the investments
or design the systems of a business. They like the "hands-
on" individual style of working for (and often, by)
themselves. 
The advantage of building a business, however, is that it
can be viewed as an asset. It can be sold, or franchised,
or licensed to other people. The systems can be replicated,
sometimes even in other industries, and that gives a
business tremendous financial leverage.
Whichever way you prefer to go, be clear about your choice.