Take advice from someone who has successfully worked from home for the last eight years. In my previous article: Work from Home: Real Money Advantages we looked at some of the money advantages of working from home. In this article we look at some of the differences between working at a job and working from home as an entrepreneur.
Many of my clients, business associates and friends run their own businesses. Some of them work from home, as I do. We all have something in common. As we continue and prosper as entrepreneurs we are continually getting more distant between our friends, family and neighbors that have jobs. Don’t know what I mean? Let me explain.
Most of the population of any country is what we call in America, “working class". Which I’m further defining as “working for someone". In America, those with university degrees, even Master’s degree and some business experience are considered “working class". People get this confused with “middle-class" which refers to an income level not occupation level. Working class people put in their hours, get their vacation (usually paid), get their sick days (usually paid), get their health insurance and get raises or bonuses almost like clockwork. When they need a job they draft a resume, they send it out, and they interview.
Some continue on to further education as the market demands but pretty much stay within the above description no matter what work, education or skill level they may fall in. These people do have worries however. The single most worry, at any level, even you “investment bankers that underwrite Billion dollar loans", will downsizing, market change or just plain company policy get me canned, fired or out on the street?
Let’s just look at 4 ways your family, friends and neighbors that have jobs don’t understand your business as an entrepreneur.
This seems very rudimentary but it is probably the biggest divide you could imagine. As an entrepreneur you are totally separate from the normal 9-5 work schedule. In fact, your neighbors, friends and family may not know it but there are days you work nearly 24 hours. But somehow because you don’t wake up at 5am get ready for a commute put in 8 hours and commute back they think you don’t work. They actually think of you as a spare “driver" or baby sitter. “Well, Ken is home. He could pick so & so up from the airport. " Because I work all day Saturday, Sunday, and actually start work sooner and end later than they do I work double the amount of time they do in a week. I work from home so it seems like I don’t work as much to the neighbors with jobs. In addition, while they are telling me about their weekends in Las Vegas or their holiday trips, I’m at work plugging away. No vacations for me until I earn it. So I leave on holiday at very unconventional times. I leave in the middle of the week and usually go to very expensive retreats to clear my mind and recover.
How many times do I see my neighbors leave for work each week? Like robots under the command of their work schedule. In fact they don’t have to give it much thought. They get up early, get ready, and drive to work, put in the hours and leave disconnected to their jobs. This can be a real difference with us entrepreneurs: we must be self-motivated every day, 24 hours a day in order to make a living. Because no one is going to dock our pay when we don’t show up on time or have a sit down if the work is slipping. Nope. We go broke and can’t pay the rent for that month if we sit two or three days. Quite a difference. While I’m out and about, I still think of my business. And I must be ready to play every day. Because I’m up against the marketplace. If I don’t come to play I don’t get paid. If I’m lazy, someone or something passes me by eating my profits. And no one will say a word. I’m a self-starter. No reviews at the end of the year. No disciplinary actions put on me. No fines. No reprimands. I don’t play, I don’t get paid. I’m very intense and passionate about everything I do. That’s the burden of an entrepreneur. But this is the life we’ve chosen.
Mommy and Daddy don’t have loads of cash to help you? This requires thinking about what products to deliver that is in high need or high want/demand. How can I deliver such products in a cost effective way thus filling a vacuum and making a good profit while giving someone a great product? This requires my mind to become, in a sense, a specialist or industry professional. Because I must create, market and deliver the product with very little capital just brains. Not an easy task. Considering people with jobs gets paid based on hours (even salaried) plus some form of bonus (not always directly related to their individual performance) this is very different thinking. Really. If I don’t deliver I don’t get paid. People with jobs, can actually get lost in the corporate structure making money without even investing their minds for 1 hour a week. The position (usually) is well defined with tasks that must be completed by week. As an entrepreneur, no one will help you even as you go bankrupt. Actually, in America, the new bankruptcy law makes it almost nearly impossible to file when you fail. The entrepreneur must be sharp, shrewd and quick. OR THEY DON"T GET PAID. As my friend puts it: No one is leaving a chicken at your door if you’re broke.
This brings up the next obvious difference. With no bankruptcy option, no guaranteed sick days, no vacation days, no holidays, no health insurance and no help from anyone. The risk of getting into your own business is enormous. You would think your friends, family and neighbors would bow down at your feet for even trying to make it on your own. But they just don’t understand the risks. Or they do and wouldn’t even think about doing it themselves. If you listen closely they sure do hate it when an entrepreneur reaps the rewards though. “Well, I know so & so sold her internet company" “She was always working on that website" blah blah blah. It doesn’t occur to them that “she" probably risked everything. And that takes guts, discipline, motivation and persistence. But the payoff for her was $15,000,000 USD. Not too shabby for 5 years of barely any pay, no vacations, selling her wedding ring for cash, no health coverage and noodles and hot dogs to feed her kids along the way. But the rewards came in the form of a Villa in Italy. And probably no work for the next 15 years.
Cheers to you Tammy. You made the difference between Working Class and Entrepreneur worth it.
J. Kenneth Ezra
J. Kenneth Ezra is a writer, real estate consultant, producer and Elite Success Coach. His articles have been read by thousands of people looking to do better and make more money. International Coaching Federation Member #1020768 Investigate the real money advantages of working from home and the newest systems available to help make money from home. See the bank statements to view how profitable or not so profitable. Follow the money™ at http://howtocreateonlinemillionaires.com