- Business and Employment»
- Character & Professionalism
Business Owners Are Scared Of Their Own Success
Okay, so why is it that only 7.5% of business owners ever do more than a million dollars in turnover? Well, after looking at thousands of businesses literally around the world, the simple fact, from my observation, is that many business owners are scared of their success, as crazy as that sounds.
Now, let me just prove my point. Imagine we have 2 business owners, and let's just call them tradesmen. All right? We'll say that they're electricians. Now, you got two electricians, and they're deciding to go in the business at the same time.
You've got one electrician over here that say, "Okay, well, I'm going to go out, and I'm going to do a great job, and all my clients are going to be happy with me." As he does a good job, more clients will start recommending him because he's reliable and punctual, and all of a sudden his book gets full when he's working away, but he can only reach a certain level in that business before he can't do any more work himself, and he's got all the book work, and he's got all of the insurances and all of the phone-answering and all of the other bits and pieces that he has to do.
You then have the other electrician over here. He's a good tradesman as well. He's going out and he's reliable and punctual, and as soon as his book fills up, he says to himself, "You know what? If I keep doing what I'm doing, then pretty quickly, I'm not going to be able to fit anymore work in, and that means I've got a cap on my income. I don't want to have a cap on my income, so what can I do about it?
Why don't I employ some other tradesmen that I know will be very good and very committed to what they're doing, and I'll put some systems in place so that they maintain my standards? What I'm going to do is I'm going to start looking at the things that are needed for me to generate more business. What I'll do is I'll focus on sales and marketing so that I can generate more and more business, I can look after more and more clients, my staff can then go out and do a great job for these people because they can meet my standards, and I'll be able to leverage my income by leveraging other people's time.
That individual starts focusing on systems, and starts focusing on getting more knowledge and generating a business rather than a job. You've got this second electrician here that, five years later, has a business that's salable, and he could quite easily have a million dollar payout.
Whereas you've got this other individual, this other electrician that's working probably twice as hard, and after five years, what has he got? Well, he hasn't really got a business, it's not anything that he could really sell easily because who would buy it? The business doesn't run without him. This business over here, the electrician can be cruising around, he can go on holidays with his families because he's got systems and he's got staff to do the majority of the work. Do you see where I'm coming from?
You need to make a choice. Are you serious about your success? Do you really want to have a business, or do you want to have a job? There's nothing wrong with either choice, and I'm not judging, but this is really the reason why you have 5% of business owners out there that are really successful and they're doing what they want to do, and they're living the life that they want to lead and you have the other individuals here that have had pretty well a job for themselves, and what they do is, they're earning enough income, and they're getting by, but they're really not ticking the boxes that they want to tick in their life.
Ladies and gentlemen, look, this is just my take, but to the best of my knowledge even though I do believe that there is a God of some sort there, and I do give thanks, quite seriously, every day when I jump out of bed, I'm one very lucky beggar. I don't know, no one's ever come back and told me for sure that there's a second time around, so I want to make the most of this life, I want to make the most of this world. I do everything I can to create the world that I want, so I can get to do the things that I want.
You, ladies and gentlemen, have exactly the same choice. Stay in your comfort zone, or say, "You know what? Damn it, I'm going to go and I'm going to reach out and I'm going to make my world happen. I'm going to do the things I want to do in my life."