Are You an Entrepreneur or an Employee? How to Start Thinking Like a Business Owner to Achieve Success
If you own a business you’re an entrepreneur, right? Technically, yes. However, for many network marketers, you wouldn’t know it. So many of us are acting like employees of our businesses instead of cultivating our roles as entrepreneurs. Want to know which you are?
Are you an entrepreneur or an employee of your business?
- Do you have a vision for your business?
- Of course! Not only that, but I’ve used my vision to craft a plan to take my business to new heights.
- Not really. I mean, I “see” myself working in it, but I’m trying to find someone who will give me the right plan to follow.
- What do you do when challenges arise?
- Buckle up. I love challenges; they give me the opportunity to help others at a deeper level and lean into my skills and knowledge of my business and industry.
- Crumble like a dry cookie. Facing hardship is just life’s way of saying you’re doing the wrong thing. On to the next thing
- Imagine this scenario: A new customer ordered a product and loved it so much that she wants to try more products from your line. However, six months have passed and she hasn’t heard a peep from you – no text message to check in and no message on Facebook. One day, during
schoolpick up, she begins chatting with another parent who also sells the products you do. Excited, she orders four products on the spot. Why didn’t she order from you?
- I didn’t follow up, which is my fault. Although I kept seeing her name pop up on my dashboard to contact, I kept putting it off. I should have followed up after she received her order and continued to follow up afterward based on how she’s sorted in my network. I’ll learn from this mistake and make sure that I follow up with my people on time.
- Well, it’s a two-way street – she could’ve reached out to ME if she wanted more products. I’m not a mind-reader – how am I supposed to know that she wants to buy more products. I say “good luck” to her new sales rep; she’ll probably go with someone else the next time she wants to buy products.
- How do you feel about professional development?
- Love it! I love to learn and am looking forward to taking Elite Business Bootcamp again. For now, I’m catching up on my Teamzy training and reading this great book by a business leader I look up to.
- Meh, I sign up for training when my upline tells me to, but I just don’t have the time or motivation to do any more than that. I mean, I’m still making some money, so why does it matter?
- How do you view your business finances?
- I invest my earnings back into my business. When I hit a tough spot financially, I make sure to make cuts at home before I make cuts to my business.
- I’m too scared to invest in my business – what if it doesn’t pay off? So, I’m looking to earn
moneyother ways so that I can support my business.
- How do you make decisions in your business?
- First, I review my numbers, including, but not limited to my sales numbers. Then, I’ll take into account the number of messages I sent, contacts I made, and recommendations I earned from current customers and team members. Then, I review what’s working, what isn’t, and what I can do better or differently. When that’s all done, I know I can make the best decision for my business.
- I base it on whether or not it makes me money now. I’ll deal with the consequences in my business later… maybe.
- What’s your business philosophy?
- I believe that how I run my business is just as important as the products and services I sell. I live to help my customers, prospects, and distributors to face and overcome the challenges they’re facing and thrive in meeting their needs while surpassing their expectations.
- As long as I’m making enough sales and have enough prospects to make my upline happy, I think my business is successful enough.
How did you score?
Mostly As: Congratulations, you’re an entrepreneur! Your business is more than a business; it’s your livelihood. You’re willing to put in the work and resources to make it a success, whether it’s reinvesting your profits or continuing to learn all you can about your industry and business in general. Keep it up and you’ll be rewarded with a thriving, successful business.
Mostly Bs: You’re an employee of your business, at least at this point. Many network marketers fall into this trap, especially when they’re just starting out. Since many are new to business in general, they don’t have the confidence in their knowledge and abilities to take the helm and command control of the business. The good news is, it is possible to change your mindset and begin to think of yourself as an entrepreneur instead.
How to cultivate an entrepreneurial mindset
Your mindset dictates how you see your business, which in turn, controls how you’ll run your business. When you see yourself as an employee of your business, you’ll naturally take a passive role in it – waiting for customers to come to you, waiting for your upline to give you the latest tips to get more sales and add people to your team, and waiting for your team to tell you what they need from you in order to thrive. As a result, you hand over control of your business to everyone else, whether you realize it or not. It’s your business; take control! When you begin to think like an entrepreneur, you’ll begin to take control of your business, from the daily activities that drive it to building the relationships that serve as its foundation.
Have a vision.
It all begins with a vision for your business. What do you see? Why did you start the business? What motivates you to keep going? What goals do you want to achieve? And, most important, how do you plan to achieve your goals and help your vision come to life? Answer these questions and you’ll be well on your way to creating a plan to build a successful, thriving business.
Running a business is hard. You’re sure to encounter challenges as you build your business and maintain success. Embrace them! Think of them as opportunities to use what you’ve learned and experienced to create a positive outcome. And, if you fail, learn from the mistakes you made to help you succeed should you face a similar challenge in the future.
You are responsible for your business. Although it may make you feel better at the time to pass the blame to someone else when things go wrong, take a moment to assess the situation. Could you have done something different? What is your role in the situation? Use this as an opportunity to learn and grow.
Never stop learning
Great white sharks never stop moving, even while they’re sleeping, because if they do, they’ll die. Similarly, if you stop learning, your business will die over time. As the market becomes more crowded with network marketers, it’s essential to keep learning to help you stay on top of your game and deliver the highest level of service to your customers, prospects, and distributors. Learning is essential,
Invest in your business
Invest your most valuable resources – time, money, and energy – into your business. The thing is, your business can’t thrive, or even be healthy, if it’s starving of one or more of these important resources. Too many network marketers are starving their businesses of one of these resources and they wonder why they’re not seeing business growth or results. Feed your business! Make it a priority daily and do your activities. Reinvest your earnings into it and the tools that will help you succeed. Give it your all, even when you’re tired. It will all pay off, you’ll see.
Know your numbers
As a business owner, you should know every aspect of your business. If I were to ask you how many sales you made this quarter, you should be able to tell me easily, whether you know offhand or you consult your CRM. If you don’t know, begin using a CRM, like Teamzy, to help you keep track. This is imperative to the health of your business.
Focus on service
People can buy from anyone; they choose to buy from you and join your team because of the service you provide. Relationship marketing appealed to you because of the focus on helping and building relationships. Focus on building those relationships more than making the sale and you’re sure to be rewarded with more sales and recommendations from your network.
Want more tips? Log into Teamzy and click on University for more training to help you take your business to the next level.