How many people do you employ? Where is your infrastructure? Who can I call to make sure an appointment is set up? How do I know you will stay around?
Very good questions.
Professional Entrepreneurs incorporate themselves for tax and legal purposes.
Often there is no other reason to form a company for Professional Entrepreneurs. These individuals employ corporations and limited liability companies to serve one owner / employee.
Let’s talk reality. Let’s talk one person shops. These companies have no employees and no infrastructure. Sometimes one person shops run out of home offices. These companies tend to be what the Professional Entrepreneur is known for. As a business person can you afford to employ these people?
The number of non-employer firms that generate $1 million to $2.49 million in revenue rose to 36,161 in 2016, up 1.6% from 35,584 in 2015, according to the US Census Bureau. The 2016 number illustrates a 35.2% increase from 26,744 in 2011.
Welcome to my world. Professional Entrepreneurs perform at a very high level. Common sense dictates increased revenue means increased sales. Increased sales means repeat customers exist. No business obtains repeats customers through nonperformance.
The attraction of this category is simple. We perform tasks at higher more efficient levels than employees. We cost less, have insurance against our activities (called Error’s and Omission Insurance), are very time efficient in accomplishing goals (we will not show up 9–5 every day but results are still the same) and businesses avoid the taxation consequences of payroll.
Businesses offer us no benefits — yet we outperform employees at a 10:1 ratio. Professional Entrepreneurs will tie compensation to performance. Imagine telling employees you would only pay them their wage if customers paid for your goods. Your employee would never work under this arrangement. The ability to hold Professional Entrepreneurs accountable to revenue generation makes us unique.
Embrace the idea of saving more, linking compensation to performance and allowing independent thinkers to accomplish your goals without supervision.
Accountability is simple. Accountability is payment. The Professional Entrepreneur is not a red flag. A one person band is not a red flag. A one person band is an opportunity to employ a professional who will 1) cost you less (actually), 2) save you on taxes, 3) usually charge you little to nothing up front, and 4) obtain your desired goal faster than a standard employment arrangement.
The reason for time efficiency is obvious. Your Professional wants to get paid. I would take a high stakes game position for professional entrepreneurs over employees every game. I will always win. As a business person should too.
About Christopher: Christopher Knight Lopez is a Professional Entrepreneur. Christopher has opened over 7 businesses in his 14-year career. Christopher’s purpose is to take advantage of various market-driven opportunities. Christopher is a certified Master Project Manager (MPM) and Accredited Financial Analyst (AFA). Christopher previously held his Series 65 securities license. Christopher also has his General Lines — Life, Accident, Health & HMO. Christopher has managed a combined 286mm USD in reported Assets Under Management & Assets Under Advisement. Christopher has work experience in 29 countries, raised over 50mm USD for various businesses, and grossed over 7.5mm in his personal career. Christopher worked in the highly technical industries of: biotechnology, finance, securities, manufacturing, real estate, and residential mortgages. Christopher is a United States Air Force Veteran. Christopher has a passion for family, competitive sports, fishing, martial arts and advocacy for entrepreneurs. Christopher provides self-help classes for up-and-coming entrepreneurs. Christopher’s passion to mentor comes from belief that entrepreneurs need guidance. The world is full of conflicting information about entrepreneur identity. See more at www.christopherklopez.com