DIFFERENCE Between Company Owner and Business Owner

Why would somebody give you billions of dollars for something that revolves around you? You get hit by a bus, or you decide to go do something else, it's over. It's over. Yeah, so I'm mentoring a friend, and I was like, okay, is your business scalable? And he was like, yeah, it's scalable, and I'm like, okay, well, what happens, okay, so you want to do business in Texas and you're in Florida, I'm like, okay, then you have to hire people in Texas, and then, oh, what if you want to do business in Atlanta, then you've got to hire people in Atlanta, right, and I'm like, okay, what happens if two or three of the people that you've hired in each state quit, and he's like, well, then I've got to fly out there, and I'm like, well, dude, you're not scalable, right, like, if you've got to be the guy to go and put out the fire, you're not scalable, you're just not, right, there's a difference between people that have a business and people that have a company, right, you know what the difference is between a business and a company? Huh? No. A business is you having something that revolves around you, right, like you're the rainmaker, right, so it's like you're a solopreneur, that's a business, I mean, there's a lot of solopreneurs, right, where it's like, it's just them, maybe one or two other employees, maybe five, but if they don't go out and produce and they don't go out and make it rain, there's no money, that's just a business, it's just like a stay-at-home business, right, and I know a lot of people that have these solopreneur businesses, they do pretty well, you know, I think the vast majority of companies are solopreneur companies, they do $250,000 or more in revenue, right, these are at-home people that are running their business out of their house or have a small business and they have, you know, two to five, six, seven employees and that's their business, right, so that's a business. A company is something that runs without you, that is not dependent on you being there pitching every day, right, that's a company, so you got to decide like, okay, which one do you want to have? Do you want to have a business? There's nothing wrong with that, you have a successful business, you go to work, you put in your effort, you get paid, great, you know, or a company that is so big and so not revolving around you that you're able to then be freed up and not be working in the business as opposed to on the business. Well, first you got to recognize you're working in the business, right, most people that are working in the business actually think they're working on the business and they're not, right, so what does working in the business mean? It means like you're behind the counter, you're answering phone calls, you're taking sales calls, you're directly in contact with the customer, right, and you're that something goes wrong, you're in there, you need a copy of an invoice, you're getting a copy of an invoice or your customer calls, you're answering the phone, that's working in the business and people that work in the business, they don't grow as quickly or as big as people that work on the business, right, the difference between the two is the person working on the business is more from an exterior viewpoint, right, and they're orchestrating everything, so like, you know, for me, from the very beginning, I was like, okay, how do I build this company into a company? How do I build this business into a company? Because it started as a small business, right, it was me going out, calling on doctors, doing the whole thing, being everything and then I had to scale to be able to get it to be a company, so there was a period of time that my receptionist made more money than me, you know, that was because I was trying, true story, I was trying to set it up to where I had a company and I had people handling delegating things to where I was able to then take a more of a mastermind approach to things as opposed to being in the business, starts with a decision, like, I didn't want this business to revolve around me, why? Because it wouldn't create a great quality of life that I wanted, you know, you're designing your life the way that you want, right, so for me, I didn't want to design a life that I was like, okay, the whole thing revolves around me, I didn't want that, number one, number two, you don't create a value that way, you know, no one's going to give you billions of dollars for something that revolves around you, why would somebody give you billions of dollars for something that revolves around you? You get hit by a bus or you decide to go do something else, it's over, it's over, so you got to build something that doesn't revolve around you and that's a decision and then it's following through and setting it up to where it's like, you know, you have it set up in such a way that you have a, you know, a flourishing company that can grow in double digits without you being the guy and that's worth hundreds of millions of dollars, if not billions of dollars, then they'd have to, they'd have to follow through with it, they'd have to figure out, I don't know everyone's business but, you know, you'd have to figure out, okay, what am I doing and how do I replace myself? That's all I did, how do I replace myself? Oh, I'm doing this now, okay, that doesn't make sense, I mean, how do I replace myself? Oh, I gotta hire a sales manager, oh, I don't have the money, oh, I'm gonna make less money, okay, great. I made less money than most of my employees for probably four or five years and I did that knowing that, you know, I wasn't like, I'm gonna do this forever but I did it to where I was like, okay, at some point it's gonna, it's gonna hockey stick, right? So that's the difference.