 We're here in Singapore as you can tell this place is insane There's some kind of generator in the background, but Also a very nice lily pond Yeah, Singapore is just crazy the infrastructure here is nuts. It's like one of the cleanest places ever to Not allowed to smoke, not allowed to spit gum on the sidewalks and you get arrested for that Anyways today, I want to talk about Difference between a freelancer and a business owner So I was just listening to a Seth Godin podcast with Tim Ferriss and it reminded me of this distinction Which we talk about a lot in the work from anywhere accelerator In when we talk about running a business starting a company how to figure out how you should structure it all these things but there is a big difference between being a business owner and being a freelancer a lot of people they start a agency as they call it and What they do is they go out there and they get clients and they just create jobs for themselves So now instead of one boss, maybe they have five different bosses and the reason this happens is because they're selling their time instead of results So what they do is they go out there and they'll do anything for anyone So if the client wants a new landing page, they'll do that if the client wants emails They'll do that if they want a sales page, they'll do that if the client says change that to this They'll do that the point is the client is in control here. So what is this agency owner done? They've created a boss for themselves who calls the shots. They determine how much they work They determine what they work on they determine which projects are getting done and so When we start our agencies, we want to run things a little different than that because we want to maintain control if you want to Be the entrepreneur not the freelancer. You have to call the shots You have to be able to decide which projects are getting done and you also want to get paid based on your Results that you provide and not your time So it shouldn't matter to your client if it takes you one minute or a hundred hours to produce the result They should pay the same amount no matter what so what's the difference between in a freelancer and a business owner? Well, the business owner has systems and they sell their system to the client We call that funnel cloning with the agency model basically means we have one set Product that we deliver to our client. It's the funnel. It's the follow-up It's the ads but we specialize and niche down so it's the same for every client because if it was vastly different And we're gonna end up in a freelancer situation But if we work in a niche and the product we deliver is the same every time then we can end up as business owners Because we'll get paid for our product not for our time But if you worked with any kind of client Any kind of client at all and you do all the work yourself. You're gonna be a freelancer So the other way to be a business owner as an agency owner is to have employees so you can use white label Service providers. That's when somebody provides the ads for you So you go out there you sell the client you get the client the white label provider actually does the ads runs the ads or you can have Contractors that you use to help you with the process or you can have in-house employees when you get big enough people that actually work for you full-time and There's a guy skateboarding with a boombox and a full helmet and a camera. It's distracting Where was I yeah to be a business owner You are in charge of generating revenue and then you have a team provide the results so and in any of these instances the point is that you want a predictable result that you are delivering it doesn't depend Holy on your time because if no one else can deliver this result by you and it's different every single time You're gonna end up with a bunch of different bosses and a job for yourself that you've created Which is good at first. It's a good way to learn. It's a good way to learn working with lots of different clients But eventually you're gonna burn out and so it can't depend on you forever So the way we do this get out of this is called funnel cloning Talk about this all the time where you can rent one funnel out to You know tons of different amounts of clients as long as they have the same kind of business Now a lot of people when they get started they don't want to niche down because they think they're limiting their options Like I said in the very beginning This is okay. You go out there work with a couple different types of clients figure out the clients that you actually like to work with You believe in what they do in their business You like working with them. They're good people And you can get consistent results for them because you might go there work with five different types of clients when you start You find that one specific type of client. Let's say you work with Dieticians and figure out while you can get really great results for dieticians You might decide to niche down and then from then on out. That's your business But eventually you want to make that decision to niche down A lot of times we talk about franchises with this model. So you look at McDonald's What does McDonald's do they sell their system to people that want to own a McDonald's business? So when you go to your local McDonald's down the street on the street corner that McDonald's is owned by a franchisee And that means they pay the McDonald's corporation to use that system So the same things are going to happen with your system You create the system You know it works and then you just distribute that across the country over and over again so if you work with the dietician of Maryland and And you want to get a new dietician client in Utah. You just use the same system in different locations just like a McDonald's So that's the difference between a freelancer and business owner Business owner Are actually selling a system and a result and as a freelancer you're selling your time and you'll do anything for anyone You take orders from the client So I would recommend As we're sitting here in Singapore if you want the freedom to take trips and travel around the world and do things Like that. Let's make sure that we're building a business. Okay, let's not build a new job for ourself It's gonna be hard work either way, but one has long-term pay-off So if you want help figuring out how to set up your agency with funnel cloning So that you get paid for the results you produce and not the time that you work Come check out the work for my new accelerator. We like to call it WF a digital nomad calm And I will see you on the inside