CEOwners: “It’s good to be da king.”

“It’s good to be da king.” (Mel Brooks, The History of the World, Part I)

How would your life be different if you woke up every day as the Chief Executive Officer and owner of your own company? What would it be like to be the boss, making the decisions and creating your own business destiny day by day? Speaking from personal experience, it’s actually pretty darned wonderful. And the rewards can be great.

It starts with the freedom. There’s just nothing like knowing you’re in charge, with nobody else making the rules or looking over your shoulder – nobody limiting what you can dream of achieving. The freedom can also liberate your innate creativity. How many times in your business life have you thought you could do it better than the way your employer was doing it – producing it, delivering it, marketing it? We’ve all experienced that frustration, believing we could do it better, if only we had the chance. With your own business, you’ll have the chance. In fact you’ll have the obligation. If you don’t do it better than your competition, you won’t be “da king” for very long.

Some businesses are all about the freedom and the creativity, with modest income potential as a tradeoff. In many cases starting your own business will require you to take a cut. If you are bootstrapping your start-up, financing it solely with your own funds, you might not take any income at all until you’ve built enough cash flow to allow it. If you have investors you might take only a minimal income until the business is healthy enough to pay you more.

But your own business can also be the key to building additional personal wealth, possibly significant personal wealth. If your original business concept or your management skills or your sales and marketing talents enable you to create a growing, profitable enterprise, eventually someone will want to buy it. You might turn a few years of passionate effort into millions of dollars and a new level of financial security — all of that and the thrill of being your own boss thrown in for good measure. That’s hard to beat.

While there are no guarantees, whatever your goals may be, reinventing yourself as a CEOwner will be a wonderful adventure and a journey of self-discovery worthy of The Rest of Your Life.

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