The Biggest Misunderstanding


Amar Pandit
A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.

April 16, 2021 | 2 Minute Read
This is fairly common not only in our industry/profession but in many industries.
A person starts his own business in our industry with a lot of enthusiasm. He builds a certain AUM and then hits a growth barrier. He hires more people, adds technology, and hits another growth barrier. I will explain what a growth barrier is in a Future Post.
The best part is that he believes that he has built a solid business just because he has managed to accumulate an AUM of Rs.100 Crore or for that matter even Rs.500 Crore.
The reality is that he has managed to build a good book of business that leads to an income. This is very different from building a business. In very simple terms, this gentleman is self-employed. He has replaced his boss with himself.
Thus, the biggest misunderstanding happens when you think that you have built a business when in reality you have managed to build an income for yourself just like any professional.
There is nothing wrong with this approach, but you need to understand this key distinction between being self-employed and being a business owner. This will help you take some meaningful decisions to build value in your firm.
Ask yourself the following questions:
a. Can your firm acquire a client if you are not around for 45 days?
b. Can your firm operate without you for 30 days?
c. Can other people take decisions without you being involved?
d. Do you have team members in HR, Finance, Marketing, and other areas or are you the master of all trades.
There are many more but these 4 should suffice to give you a perspective.
If the answer to 2 of the above questions is a NO, you have steps to take to build a solid and real business.
What are the key steps for you to build a solid and real business?
Similar Post
Nano Learning
The Cheque Book and Calendar
Carl Richards says, “The cheque book and the calendar never lie.” This is a pretty insightful line as it has an application in every aspect of our life. He says do not tell me ....Read More
3 September, 2021 | 2 Minute Read
Nano Learning
The Main Purpose of Education
I had written this as an Investor Nano initially, but it’s so important for all of us, that I decided to publish it on this blog first. What do you think is the main purpose of e ....Read More
14 July, 2023 | 2 Minute Read
Nano Learning
Master the Bow, Not the Spotlight
I received a lot of love for my post, “Are you Chasing Excellence or the Spotlight?” If you haven’t read it yet, I would strongly encourage you to do so. It dives deep into a ....Read More
22 November, 2024 | 2 Minute Read
Nano Learning
The Gap We Need to Bridge
Can you guess what this headline refers to? All right, I will give it as I don’t have the luxury of creating all the suspense. We all know the concept of left brain versus right ....Read More
10 June, 2022 | 2 Minute Read
Nano Learning
Something Powerful to Learn from Air Pods
I saw this chart sometime in 2021. It absolutely blew my mind. Did you know Apple’s revenue from AirPods was $23.05 billion in 2020? This was as high as Netflix, 25% lower than T ....Read More
8 April, 2022 | 2 Minute Read
Nano Learning
An Important Question
There’s a very important question we all need to ask ourselves from time to time. Say it with me… Why? Why do we conduct our first meeting this way? Why do we not have referral ....Read More
26 July, 2024 | 2 Minute Read
- 0
- 0
0 Comments