SIGNS YOU SHOULDN'T BE AN ENTREPRENEUR (4)

Last time, we explored the third sign you shouldn't be an entrepreneur: Not being willing to invest in business skills. Today, we're moving to the next...

4) YOU ARE NOT WILLING TO LET GO

This sign is closely related to the last point we investigated. As a business owner, you will have to get involved in a whole spectrum of tasks, from marketing to accounting. The issue here is that it is impossible to be proficient in all of these, and at the same time, it is impossible to have the time to deal with all of them.

For this reason, you have to be willing to delegate part of all this work to other people who will take over some part of the workload. You have to be willing to "let go" and assign these tasks to your team, even if you could have completed them in a better way. You have to look at the bigger picture.

The problem is that many people are guided by their emotions on this and resist such a change. They can't accept that somebody else will get ownership over a task or job that they were previously responsible for.

It is true that when your business is in its infancy, you will probably have to do everything and anything. Most startups are bound by capital, so they have to rely on their founders' labour (sweat equity) to move forward.

However, once the business is established and generates some revenue, you should take the measures to gradually remove yourself from it. This requires outsourcing and delegating your tasks and responsibilities to your team. This is what we mean when we say that an entrepreneur should work "on the business", instead of "in the business".

Moving towards that direction will help you build a scalable and saleable business that has value in the marketplace and can be considered a precious tradeable asset.

Remember, we are finite beings in a quest to build businesses with "infinite" scale. The only way to do so is by leveraging technology (automation etc.) and Other People's Time (OPT) via their labour.