Business vs. Asset:
The Key to Entrepreneurial Freedom
Don’t leave a job you hate to make a business you hate.
Why most businesses fail: the owners trade a 9 - 5 for a new, never-ending cycle of things to do, A.K.A burnout.
The secret to TRUE FREEDOM? Stop just building a business: build an ASSET.
👇READ On!
When you first get that great idea and start envisioning your business, it's all about the thrill of creating something new. You picture the money coming in, the products flying off the shelves, and the satisfaction of building something with your heart and soul. This is your baby—your entrepreneurial journey through the jungle. But as you hack through with your metaphorical machete, there's a question you might not be asking yourself: Are you building a business or an asset? In today’s post, we dive deep into this crucial distinction that many entrepreneurs overlook, often to their detriment.
Watch our most recent YouTube episode on this same topic HERE
Business Vs. Asset: What’s the Difference?
When we talk about building a business, we're often referring to the day-to-day operations, the hustle, the grind. You're involved in everything—marketing, sales, customer service, and more. It's reactive, exhausting, and for many, it becomes a never-ending cycle. But what if you could step back and think about your business as an asset?
An asset is something that not only generates income but also allows you to step away and still see it grow.
It's about scalability, systems, and ultimately, freedom.
Sean’s Journey: From Business to Asset
Sean and I discussed how many entrepreneurs fall into the trap of thinking they're building a business when what they really want is an asset. Sean shared his experience of the first three years of his entrepreneurial journey, where he was laser-focused on hitting the million-dollar mark. He was on the hamster wheel, doing the same things over and over, without a clear vision for the future.
Sean noted, "I was grinding for the last three years and thought I had it all figured out. But I was miserable, 25 pounds overweight, and disconnected from everything that mattered. I realized I wasn’t building something sustainable—I was just surviving."
It wasn't until he stepped back and realized he needed to build an asset, not just a business, that he truly started to see the fruits of his labor.
Practical Steps to Building an Asset
If you're an entrepreneur or business owner feeling stuck in the grind, it’s time to shift your focus. Here are some actionable steps to start building an asset instead of just a business:
Get Clear on Your Vision: What do you want your business to look like in 5, 10, or 20 years? How do you want it to serve you? This clarity will guide all your decisions moving forward. Consider using resources like our free Core Values Guide to help clarify what's important to you and guide your decisions. Understanding your CORE VALUES can be a powerful tool in aligning your actions with your goals.
Build Systems and Processes: Start creating systems that allow your business to run without you. This might involve automating tasks, delegating responsibilities, or even hiring a team to take over day-to-day operations.
Focus on Scalability: Think about how you can scale your business without necessarily increasing your workload. This might mean expanding your product line, entering new markets, or finding ways to reach more customers with less effort.
Invest in Your Mindset: Like Sean, you need to shift your mindset from “business owner” to “asset creator.” This involves continuously working on personal development and surrounding yourself with people who can help you grow. Looking for quick and easy Mindset boosts? Listen to our past Podcast Episodes
Seek Guidance and Mentorship: Building an asset requires knowledge and experience that you might not have. Seek out mentors, join mastermind groups like our Level Up and Live Mastermind Group, and invest in coaching that will help you reach your goals faster.
The Importance of Avoiding the Hamster Wheel
One of the biggest traps for entrepreneurs is the hamster wheel—doing the same things over and over without real progress. Sean and I have both been there, and it’s easy to get stuck in this cycle. But,
the key to breaking free is to stop focusing on the day-to-day tasks and start thinking about the bigger picture.
In the podcast, Sean shares a story about a business owner who was struggling with pricing his services. He thought his problem was figuring out how much to charge customers, but that was just a symptom of a larger issue. The real problem was that he hadn’t taken the time to step back and think about what he wanted his business to become. He was so focused on the micro (pricing) that he couldn’t see the macro (building a sustainable, scalable asset).
Why Building an Asset Leads to True Freedom
When you focus on building an asset, you're not just creating a business that makes money; you're creating a legacy. An asset is something that continues to grow and generate income, even when you're not actively working on it. It gives you the freedom to step back, take care of yourself, and enjoy life without the constant stress of running a business.
Sean’s story is a perfect example of this. By shifting his focus from just running a business to building an asset, he was able to regain his health, reconnect with his loved ones, and find true fulfillment in his work. And that’s the kind of freedom that every entrepreneur should strive for.
Final Thoughts
If you’re ready to transform your business into a true asset, the time to act is now. Start by clarifying your vision, building effective systems, and investing in a success-driven mindset.
You don’t have to do it alone. Join our LU+L mastermind group for the support and accountability you need to create a business that works for you.
Don’t wait for burnout. Begin building your asset today and enjoy the freedom and fulfillment that comes with it.
👇Want Guidance? Start HERE👇
Take the Next Step
Download our free Core Values guide to align your business with your true goals. Check out our other posts on guidance and overcoming blind spots for more essential tips on your journey to success.
👇TUNE INTO OUR LEVEL UP AND LIVE PODCAST EPISODE ALL about Building an Asset
In this episode, Ewan and Sean dive deep into the crucial distinction between building a business and building an asset. Too many entrepreneurs focus on creating a business without realizing the ultimate goal should be to create an asset that generates wealth and freedom.
💡Listen & Learn:
👉The difference between building a business and building an asset: Understand the key distinctions and why focusing on creating an asset is crucial for long-term success.
👉How to break free from the "hamster wheel" mentality: Discover strategies to escape the daily grind and achieve greater freedom and control over your business.
👉The importance of mindset shift: Learn how to change your perspective and focus on building a sustainable, scalable business that generates wealth and passive income.
This episode is packed with practical advice and real-world examples.
