You don't become a millionaire by working for somebody else

in life •  15 days ago

Build something new that you own and be richly rewarded

  • To become a millionaire requires doing something new and different which provides value to the world or simply doing something which attracts others to give you money. When you work for someone else then you are building up something which they own rather than building up something you own.
  • To do your own thing is to create your own lane. This is harder but it's the same thing that the book blue ocean strategy talks about. To truly have access to new high growth potential opportunities may require doing something no one ever thought of before and to be first.
  • To choose yourself is hard, but it's just like the book by James Altucher. Why believe someone is going to choose you out of the billions of people to make you the millionaire? If no one is going to help you get ahead then do your own thing until the rest of the world figures out what you did.

The more important question is what is the actual value behind being a millionaire in the first place? If your ultimate goal is to become a better person then the more resources you have the less obstacles you'll have to becoming a better person. If the money is a means to an end then the more of it you have the more good you can do not just for yourself but also for others.

I recommend these books

  1. Choose Yourself! - James Altucher
  2. Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant - W. Chan Kim (Author), Renée A. Mauborgne

If you are like me then perhaps you're in the habit of listening to audio books while doing your daily cardio or while in your car. The idea being that if you can dedicate some attention every day to consume new knowledge (some of which can come from books) then you'll build your knowledge form of wealth. The two books that I recommend are part of what inspired the thinking in this post. If you know any books which inspired you then feel free to recommend them in your comments below.

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@dana-edwards I agree I worked for someone all of my life and now I just want to do my own thing..................

Nice Concept ... Keep it up

No doubt, it is true! To be gaining a lot financially, one has to walk the path that is less taken which is entrepreneurship. Sometime, it may be joining a very young startup too (still consider working under or along side with the founders), for example Google 20 years ago.

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Well just think about it, who is going to just give someone a million dollars? It's statistically extremely unlikely to earn it by working for someone else who upgrades the salary or contracts for that level. If the HR Dept or the person hiring is going to pay then usually they pay the least amount they have to. Same as people who work typically want to pay the least in taxes that they are legally required to pay.

But when you work and you own shares in the company then you're not just a worker but an owner. If you are a partner you own part of the company. I'm not saying everyone has to start a business but I am promoting owning what you build. If it's music then own your masters and the copyright. If it's a business then own shares. If it's social media then own what you work for.

But what do we usually see? We see most people will work for free and won't make an account on Steem even though Steem lets them actually own something. Why is that? Why is it that people prefer to use Paypal over Bitcoin when Bitcoin lets people own a piece of it but Paypal just lets you be a user?

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Good question on mentioning about why people are reluctant on starting an account on Steem and start writing. They willing to write on Facebook and Instagram which earn them nothing (some may earn due to their high followers). Nevertheless, I can’t force them to use.

Agree on that by becoming the owner or cofounders, we can have larger share of the profit. While on wages, as an employer, we will definitely not using all the revenue to pay but with a controlled operational cost. That is why as an employee, we will never get to earn the big buck. Just like you mentioned.

I myself am also going into the business owner section which I make little steps to build up the business.

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But more simply, you have to think big to get big.

That's very true. Working for yourself is the fastest route to becoming a millionaire but you can work for others in the beginning to raise capital for your own business or give yourself some experience of the business world.

You are definitely right on that score the only issue is how hard it can be to break free from your current life of pay slips and bills to do it.
Finding your niche and then having the courage to go for it can be very daunting.

Well its possible if you get your salary payed out as Bitcoin :D

I am in the habit of listening to audio books, thanks for the recommendation. I'm always trying to build things too.

I don't really read many books in this vein so I don't have any recommendations.

Hello, excellent publication, it is the biggest truth, if you work for another person you will never be a millionaire, many people stay in their bubble of comfort and do not have the courage to take the leap and be enterprising. I invite you to know my blog, as well as those who have been able to read my comment, in it you will find interesting publications about my work waiting for you to like it. Greetings.

Sometimes I wonder what I will do with a lot of money. 😂

I wouldn't really want to be a millionaire. You're going to have to deal with tax and all that.

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