Being self employed is not rocket science and there is no secret to being a success. I know people that work really hard and craft what they do and build a business around it, then there are people that just have a really great widget and know how to hustle. Both sides are highly successful and can be learned from, but both sides adopt a level of responsibility that comes along with being self employed. The understanding that no one is going to do it for them and each new business comes with a bunch of work and planning, with a maybe outcome at best. So many times I see people failing, especially in Real Estate because this aspect of business is so overlooked. Many times a single aspect of success is confused with a business model. Someone has a great early response to an idea and thinks they will soon be rich. Other times, people see a lack of sales or slow start up as a failure. But both may have been flip flopped if they had been handled responsibly or with the mindset of an entrepreneur. So here are a few keys to taking the Responsibility of being Self Employed.
Flexibility is time earned: Being self employed can give you the flexibility most 9-5ers can only dream of, yet it starts with doing the things that allow for you to stop taking calls or sitting around all afternoon. What does that mean? It means that because you can take the time off without a boss keeping track, doesn’t mean its a good idea. Personal days easily turn into personal weeks and long weekends and soon enough the sales cycle is in a slump or the ideal clients are calling the competition. The responsibility of being self employed comes with working really really hard at times to allow for coasting later on. Most of us aren’t ready for this.
Short Sales and Passive Income: I know a lot of Realtors that have no business plan or analytics for their success, but you put them in a couple of closings and suddenly they are a success. The sales solves all mentality is true but in many industries the trick to success is repeat sales and a strong referral stream. The next time you have a big month or land a great deal, think about whether or not is a short sale or passive income. Passive income is the ability to sell or earn without the effort it would normally take to close a deal and typically means none of your time at all. Is this what you are doing or are you having short hits. The responsibility of being self employed is recognizing that these sales are great but long term stamina is based on a regular stream of income whether or not you are answering the phone or closing the deal.
The next big thing or beginners luck: Being the next big thing is a dream and everyone has that potential, but most success stories are able to see either way. The responsibility of being self employed is ready for either fight. Many times an early success is driven by a heavy push and creating a buzz around something new, but sustaining and becoming the next big thing takes work. Whether your a planner or just don’t know how to stop hustling, recognizing where you are is the smartest part. I see a lot of Realtors that think they are hot stuff or are God’s gift to homeowners and they have no idea where their next meeting is. The responsibility of being self employed comes with the weight of keeping this in check and knowing what it takes to be the next big thing.
So whether you are in sales or run a business that you drive its success, knowing the responsibility that comes along with being self employed can be a reality check. I know that I did not understand entirely what that meant but over time have come to accept the fact that if I am not the responsible one then who will do it for me.
-curt
