by William Bond

Created on: July 09, 2008   Last Updated: January 26, 2012

Being the business owner gives you unlimited leverage in your life. You get the opportunity to use your talents, and then get the rewards in profits, and the challenges to build a huge business to sell when you are ready to retire.

As a business owner for many years, and author of my own series of homebased business books with McGraw Hill, let me give you the rules and advantages of being the owner of your own business.

Rule #1: Being the business owner, of your own home-based business, offers you two basic advantages: to own your own business, and be able to run it right from your home. Your own business ideally is something you have a huge passion about, it is a part of you, your skills, talents and ablities, you can reach for the stars in your life. No more driving on the freeway, 30-40 miles each way to go to work, you can work right at home, and save both time and money.

Rule #2: Business owners call the shots in their business. There is no need to call a meeting and get approval for your idea from the stockholders, employees, investors, managers within the organization. You can make daily decisions which will effect the profits and losses of the company, and they take effect the same day.

Rule#3: You don't have to see your boss for a performance review to get your raise. You get your own raise by building the revenue up within the company, and by keeping the expenses as low as possible you maximize your profits. By building up profits you can make way for more improvements, products, services to sell and increase your business growth even more.

Rule #4: As the owner of the business you have the advantage of continually learning, and becoming a lifelong learner about your business. Graduating from school is just a step, and the real role is learning all your life, and to help you keep seeing opportunities for building the business even more, even making it a global business.

Rule #5: Successful business owners know that the value of hiring the most capable, educated, motivated, inspired, and passionate employess possible. They also know that they movtivate them by setting goals that have a bonus tied into their successful attainment of their goals, which builds the company, and makes it a top company in the world.

Rule #6: Hard work and success brings customers to you to help your company succeed, but other people see your success, and then they want to buy your business, because they know the hard work, systems, ideas, techniques that your have build up over the years. This is a nice opportunity for you to sell, and start another business, or just go off into the sunset, you have earned it.

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