When you start transitioning from self-employed to entrepreneur you’ll start seeing incredible changes in your business and lifestyle.
Think back to when you first started your business, regardless of your business model, most people begin with the mindset of a self-employed person. This is a normal part of the process.
However, the sooner you transition to an entrepreneurial mindset, the stronger your business will be and the more personal benefits you’ll gain.
The Difference Between Self-Employed and Entrepreneur?
A self-employed person often manages all of the required tasks themselves. They do everything. You probably do everything, or most everything, for your business.
For example, do you write your content? Do you upload blog posts and email messages to the relevant technologies? Do you manage your own customer service and handle shipping and fulfillment yourself too?
The entrepreneurial mindset takes all of these tasks and looks at how they can streamline them and make life more productive.
For example, an entrepreneur prioritizes time to plan new products or services. They make room in their schedule for reviewing analytics and establishing the next quarter’s marketing strategy. They also know the importance of balance. It’s easy to work 24/7 when you have a self-employment mindset … way to easy.
So, when you have the mindset of an entrepreneur, you’re spending more time on planning and growing your business, and less time managing it. You outsource and delegate the non-profit-generating tasks to others.
This shift in mindset improves your bottom line, because you are packed with amazing knowledge on how to grow your business, you’re just too tired and too busy to get the job done. Seriously, how many times have you said, “I wish there were more hours in the day.” You and I know THAT (not yelling, just emphasizing) is not going to happen.
So how do you make the shift from someone who feels self-employed to someone who feels like a business owner and an entrepreneur?
Let’s first take a look at…
ROI or return on investment is a powerful indicator. You can use it for just about every aspect of your business and it helps you see how small tasks can eat away at your productivity and profits.
For instance, what is your return on investment for uploading blog posts to your website? Probably nothing, right? You don’t earn anything while you’re performing that task.
What’s the return on investment when you work with a client? Much higher … right? You’re being paid for your time.
Theresa’s Tip: Start looking at the tasks that you perform and how they impact your bottom line. This will tell you what’s important for YOU to do, and what you can automate or delegate.
After you start looking at tasks like this, then you can…
Narrow Your Focus
Many self-employed individuals just want someone, anyone, to become a customer. They have a very broad definition of their target audience. “Anyone willing to pay for my products/services” is not a good target audience.
So what should you do?
Narrow your focus and start approaching your prospects – your real prospects – with a targeted strategy. You’ll spend less time hoping and more time actually earning money and building your business.
Additional Reading: How to Determine Your Ideal Customer Profile
Transitioning From Self-Employed to Entrepreneur
Just shifting your mindset and looking at tasks from an ROI standpoint and then narrowing your focus will tremendously help you in transitioning from self employed to entrepreneur.
You can do this!
Not sure how to begin transitioning from self-employed to entrepreneur without sending your business into chaos? I understand, it took me a while to get my business running smoothly, so I didn’t have to put in 10 hour-days. Being an entrepreneur is tough … no doubt about it. If you’re buried and wondering if it’s all worth it, the answer is yes. A little guidance and a setting up your business systems will take you from struggling to success. Learn more about how you can become a business success story.
Your success is my business!