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Are you a Business Owner or Self Employed?

 
 
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milifestyle
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PostPosted: Sun Jan 21, 2007 10:20 pm    Post subject: Are you a Business Owner or Self Employed? Reply with quote

Many people confuse Busines Ownership with Self Employement.

While it can be true that a self employed person can and probably is a Business owner a clear definition of the two is:

1. Self Employed person is the Heart of the Business. If the Self Employed person does not go to work, he or she does not get paid.

2. A Business owner generally manages a business and has employees. If the Business owner takes a day off the Business should still turn over without the owners direct involvement.
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TVDinner
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PostPosted: Fri Feb 02, 2007 3:16 pm    Post subject: Reply with quote

I am a business owner. But I guess as a business owner, I am also self employed, lol

I think anyone who owns or runs a business is a little of both - if they want to be successful, Very Happy
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trev
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PostPosted: Fri Feb 02, 2007 3:21 pm    Post subject: Reply with quote

Quote:
If the Self Employed person does not go to work, he or she does not get paid.


Mostly yeah, although in something like affiliate marketting for example this wouldn't be the case as your web site can still be generating sales even if you're sitting on a beach somewhere.

I guess in essence "self-employed" simply means a one-man-band, whereas business owner is one-man-band with 1+ other persons? :

Then again, we also have "company owner", or is that an oxymoron? Never sure if a company has to be Ltd. or if it can be another name for a business?

Trev
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TVDinner
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PostPosted: Fri Feb 02, 2007 3:31 pm    Post subject: Reply with quote

a business owner is a little bit of both. No way around that!
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milifestyle
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PostPosted: Fri Feb 02, 2007 10:11 pm    Post subject: Reply with quote

From my understanding, a company is usually considered a seperate entity, it is not really "owned" by any one person, simply Directed by.... well... Directors. It also has share holders (who would be technically considerd the owners). However, the Company can OWN a Business even if that Business is itself. Confused ? Me too!! Very Happy

A Company can be XYZ Pty. Ltd. and can trade as XYZ Pty. Ltd. (The Business being itself)

A Company can be XYZ Pty. Ltd. and can trade as:
    Widgets.com (Business)
    123 4 Sale (Business)
    Petes Real Estate (Business)


But this is a little beyond the original posting.

The point I was making, was if your Business stops trading when your not involved, then you are probably self employed (You are not leveraging time).

As a Business owner you generally have employees (You are Leveraging time).

This would be slightly different if your Business was Completely online. (Affiliate Marketing etc,)
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TVDinner
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PostPosted: Sat Feb 03, 2007 12:25 am    Post subject: Reply with quote

well i guess we are saying the same thing, lol
but I own an LLC company. Have employees, locations, etc.
so I consider myself both a company and self employed, lol - but that is only me.
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cheaptravel33
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PostPosted: Tue Feb 06, 2007 12:29 am    Post subject: Reply with quote

I am self employed becuase it i dont go to work then no pay
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Smooth
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PostPosted: Mon Feb 12, 2007 8:48 pm    Post subject: Reply with quote

I work from home... when I feel like it.

I guess I'm self un-employed Wink
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PostPosted: Fri Aug 24, 2007 8:10 am    Post subject: Incorprorated self-employed Reply with quote

I started my business on a part-time basis 23 years ago, while still in the military (US).

I bailed out of my military career, with no retirement or benefits, and opted for full-time self-employment 2 decades ago.

In 1996, I incorporated my business as a Sub-Chapter S, with myself as 100% stockholder, President, and only employee.

Eleven years later, my business sales volume has grown considerably, but I am still the only employee. With my sales volume, my business falls under "Micro business" as defined by the US Gov't.

I have residual income from the business, so if I took 3 months off, I'd still have income, but would also give up any commission income from my personal sales while I was not working.

I don't give myself many days off, and haven't taken a week long holiday since '93, but on the other hand, I have never turned myself down for a pay raise when I requested one.

To sum it up, I'm the only employee of my corporation, of which I am the President and sole owner. I still see myself as a business owner as the business income separate from my commissions is greater than my sales commissions.

For those of you who have read Kyosaki and looked at his Business Owner, Investor, Employee model, I actually fall into all 4 quadrants.

Maybe I'll figure out whether I'm a business owner or merely self-employed over the next 40+ years before my tenative retirement.

Dennis Bevers
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Peter Bowen
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PostPosted: Fri Aug 24, 2007 10:51 am    Post subject: Reply with quote

Can I ask another question on this topic?

I'm in the business of converting self employed to business owner and never ever thought to ask the question - Do you want to stay self employed or would you prefer to own a business?
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DBeavers
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PostPosted: Fri Aug 24, 2007 1:36 pm    Post subject: Self-employed vs. business owner Reply with quote

My present business model is working so well for me, I wouldn't dream of changing. If the primary difference is having employees, according to one poster's definition, then I certainly wouldn't change. I've done quite well over the past 20 years of self-employment and don't see a benefit in converting.

As I stated previously, my business falls into all 4 quadrants of Kyosaki's business model. I have the benefits of being a business owner already, but without having any employees. I leave things as they are.

Dennis Bevers
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fun2bme
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PostPosted: Mon Oct 22, 2007 12:45 am    Post subject: Reply with quote

I think a self-employed person IS a business owner. You do not need employees to be considered so. I am a sole-proprietor. A self-employed person CAN make money even if they don't go to work. It depends on what they are doing. Do they have investments, for instance, that can earn them money? I know in network marketing, for instance, a person can certainly make money while on vacation. It's about leveraging.
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thanassissis
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PostPosted: Mon Nov 05, 2007 10:58 pm    Post subject: Reply with quote

I am a self employed person and that is very good.
But having your own bussiness is the best
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elevatingyourbusiness
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PostPosted: Sun Nov 25, 2007 11:37 pm    Post subject: well... Reply with quote

IMO, it's a mindset.

The self-employed says, I don't want to work for someone else, I can do it, and I am working for a paycheck.

A business owner says I'm creating my business as an investmentin my future.

I'd say that 85% of my clients are self-employed, who "get" that they want to be business owners. The rest are business owners who "got" that in order to grow their buisness, they have to do some major foundation work (plannning, admin, operations).
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