With a large number of Americans either out of work or under-employed, many individuals have resorted to starting small home-based service businesses.
It should be noted that a business is an entity unto itself. While it may have only one owner, as is the case with an entity that is sole-proprietor, a business should live on if the business changes owners, even if it is organized as a sole-proprietor. Therefore, a true business exists as a separate entity.
Businesses are a risk and reward proposition for the investors in the business. Businesses are started by entrepreneurs who are willing to risk loss in the pursuit of making money.
A job, by contrast, is a task or a piece of work an individual performs, often with the expectation of getting paid for their effort. Simply put, you can sell a business but you can’t sell a job.
Many solo practitioners consider themselves to be “business owners” and “entrepreneurs”, however they are simply individuals working a job. If you “are the work” you are not a business. You are a Jobbie.
To be clear, there is nothing wrong with being a jobbie, however, as a jobbie, you expose yourself to added risk for the privilege of having a job.
As a jobbie, it is not wise to invest heavily in assets or marketing efforts that have no chance of providing a return on your investment.
Are you actually a jobbie but guided by the principles that apply to small business ownership?
