The Real Purpose of Owning a Business? You May Be Surprised

What’s the purpose of owning a business?

The answer might not be what you expect.

The purpose of owning a business is to add value to the world and create an asset that works for you.

It’s not to do everything yourself.

You know that.

It’s not to prove how smart, important, or hardworking you are.

You know that, too.

But when you own a business it feels deeply personal because you birthed it.

Routine business decisions feel like a matter of life and death.

It’s hard to think objectively when you believe your survival is at stake.

Yes, it’s your business, but its successes and failures are not directly connected to your worth as a person.

If you make it mean that, then how you feel about yourself will swing wildly depending on how your business is doing in the moment.

You will try to exert control. Over everyone and everything.

You’ll think you must double-check everyone’s work, personally handle all the sales, and make every decision.

This makes your business dependent on you.

Which means it can’t stand alone. It’s not an asset that someone else could run for you.

Without meaning to, many of us build ourselves a glorified job with a thousand-item task list.

Instead, we want to build a company that can run without us.

Because then we have options.

When you’re in the thick of it, it’s easy to lose sight of the difference.

Make the criteria for each decision whether it will increase the value of your business.

You become an investor and your business becomes an asset when you do these things:

1. Narrow your niche. You can’t be everything to everyone. Be unique and the best in your niche so that you never have to compete on price.

2. Productize your services. Convert services into solutions and market them like products. Stop trading time for money. Streamline and systematize.

3. Rethink your relationship with money and numbers. Focus on generating recurring revenue and creating positive cashflow by getting paid in advance.

4. Organize your business to maximize your personal freedom. You need space for your mind to create the future. Replace yourself, reduce dependencies, and hire a sales team.

Instead of working for your business, decide to make it work for you.

Remember when you used to LOVE your business? Find out how to leverage your brain and manage your mind in my bestselling book, Loving Your Business. Separate your identity from your business and turn it into a scalable asset that can run without you. That’s a business you’ll love – and other people will too. Get the first chapter here!



Scroll to Top
Complete 50%

Get the Guide: “6 Steps to Turn Your Business into an Asset”

We may email additional resources and you can opt-out any time. We promise to protect your privacy.

Tired of feeling frustrated and trapped by your business?


6 Steps to Turn Your Business into an Asset

Complete 50%

Instant access to “How to Grow Your Business without Losing Your Mind”

Just enter your information below.

Please see our Privacy Policy to see we take your privacy seriously.