Is it possible to turn a sole proprietorship into a large profitable business?
Do you run a small business and wonder if what you do makes sense? If you read my entries, you know that I often write about multi-million income of companies and building a powerful large-scale business. This article is different. This article is my personal answer to the question of one of my readers.
You can look at this topic from three perspectives. What's important - regardless of whether you are sewing baby clothes, doing handicrafts or doing something that I can't even imagine, these 3 perspectives are probably about your situation.
Small and medium enterprises are pulling the Polish economy forward. Did you know that this group of entrepreneurs pays the highest taxes? It would be really hard without them.
Therefore, from a national point of view, small businesses are important.
My personal look
For many years I thought that setting up a business and earning 3.5 or even 10 thousand a month is great ... But as they say - the appetite grows as you eat. That is why I am currently focusing on generating 10, 20 and even 100 million turnover every year.
This is the direction I have taken. And if during my life I reach a turnover of several hundred million, I will be very grateful and satisfied as an entrepreneur.
I don't know if it will work. I know I have the skills to succeed. A matter of great patience.
For me, at this stage, there is no point in making a company where I would sit alone and poke something.
When will more money appear?
The question is often asked: "When will more money appear in my business?" Here's what I can answer.
Note that there is no man who turns millions and cannot cope with a few thousand dollars, maintain financial liquidity in a company, does not know how to run Instagram, how to make a good product and advertise it - this is the first important issue!
Remember when you were 17-18 years old. If you are not a child of an American entrepreneur, then you did not run a company that employed 15 people.
At 17-18, you probably started earning your first money. Remember the first money earned in the warehouse ... Helping your uncle in the company.
The first 1000 dollars in the wallet.
It was really a lot for a young girl or boy. Do you remember how you started to consciously manage your money? You had to learn it first!
And now? Probably the prospect of managing $ 1,000 doesn't make you much impression. It is natural for you because you have such amounts. And it is exactly the same in business.
If you want to earn millions, then you must first learn to manage hundreds and thousands of dollars.
And if you do something unusual or you have a small business and it does not go as you once dreamed - no coconuts or various fees absorb a large part of your income, then know that it does not have to be always.
There is only one question - the context of the THIRD.
Where will you stay?
Will you stop at what you have and say: "For me, these 3000/5000 / 10,000 per month that I earn from my own work makes me completely satisfied, I have a nice life and a lot of time for myself."
Many people choose that way. Even more - most people in the world choose this way and work this way. And that's okay!
There are few people who choose like me - a path where money is a secondary issue, comfort is a secondary issue and DEVELOPMENT is the most important thing.
And when you make a decision to develop, know that it is associated with very high life resistance. In short, with a lot of problems that need to be solved.
Most people just want to have a cool and cool life. And one-man activities allow just that.
Therefore, if you have a cool life now, you do valuable things in your work, you love it and you have time for everything you want and do not want anything more, it's fine!
In the case of my dear, I don't have much time for friends. I have less time for my family. I go on holiday every few years. This is another way - and it is neither good nor bad.
Will what you do make you stay on the market or get out of it soon?
If you are secretly afraid of it, then notice that if you run a company now and it is comfortable, then in such moments there is a desire to rest on your laurels, right?
You earn money, there are jobs every month and you do your work.
For jewelry, handicrafts or things, you put them on Amazon or sell them on eBay. And it's nice - people buy and it's great.
But if you rest on your laurels and do not develop your business, then I can promise you one thing - in a few, maybe a dozen or so years, you will leave this market and you will have a big problem.
The biggest problem with 1-person companies is that when they "go", there is laziness. But the world does not care about laziness. World is changing.
If you do not go, just stand still and the world is moving forward, then after some time you leave and you have a big problem. You have to start all over again or you come back full-time.
The downside is that when someone raises the commission, changes the rules for listing auctions, or something else, it's after you. A one-man company is a risk.
dvertising is moving to the internet and now is the last chance to use it!
Other entrepreneurs are beginning to understand the potential of advertising their products on the Internet, and what are you doing at this time? If nothing else, remember one.
If you are now satisfied with your life level, your income, what you have, then do what you love. This is your way and don't worry about anything else. It is important that you keep your sense and develop this business.
The beginnings are the hardest, then it's downhill!
Success is at your fingertips
Look at the artist who will come out on stage and simply sing. Let's assume his name is Andrea Bocelli. He also has only one yes. He is also a small one-man business just like you.
He builds business only on his artistic talent. Just like you. The difference, however, is that Bocelli's songs are known to the whole world. Just like Picasso's paintings!
The value of these people's work is extremely high! And I bet Bocelli has a problem counting all the money he has ... And he is the same artist as you.
And it is important that you think about whether you want to be the home artist or you want to be an artist known all over the world.
Remember! Being known all over the world and still being an artist - do not exclude each other!
It's important to get a hold of it and make an informed decision about which direction your career should take.
And if you do what you love, then reaching a larger scale will not be a problem - it's within your reach!