Some reasons why you should own a business

in money •  2 years ago  (edited)

This is an introduction to the Financial Intelligence series.

A significant number of people are struggling financially because they have not developed financial intelligence. It is neither taught nor encouraged by conventional educational modules, so if all you know, was formally taught to you; this series is for you.

Enjoy six reasons (though not exhaustive) why you must own a business.

  1. Profits are better than wages.

Wages regardless of how good you consider it to be, are determined by others other than yourself. Wages also have a specified ceiling though performance based incentives may not.

  1. You do not become rich by working for someone else.

Regardless of how well paid you are, your boss would always end up with much more money than you get for your effort.

  1. You are not in control of your financial future

If you do not build your own dream, someone would hire you to build theirs

Even a dream job is at your employers’ mercy and the rug can be yanked from your feet at their discretion.

  1. Businesses provide the owners with an opportunity to have multiple streams of income. So if there is an economic downturn and your employers suddenly have to let you go or declare bankruptcy, you become an applicant without notice. Desperately seeking a job to sustain yourself and the standard of living you had once attained would be but a painful memory. You would still have an active inflow of income from your business and times would not be as rough as not having one.
  1. Improved financial intelligence

Actively engaging in a business venture where you are involved in some level of management compels you to think of resource control in ways you have previously never considered. Improved financial intelligence is thus developed and better allocation of resources, including personal funds is attained.

  1. Take a look at the list of billionaires in the world with legitimate and known sources of their wealth. You would not find employees’ on the list. The truly wealthy own their own businesses, including those that inherited their wealth.

I hope I have got you thinking and rethinking t your financial independence (you are not really financially independent as an employee because you are financially dependent on your employer) and you are hereby encouraged to seek out worthy investment ventures & businesses to be involved with.

You can & should start from where you are, begin the journey to get to where you want to be.

You should not just own a business, you MUST OWN A BUSINESS.

This just to encourage any and every one to earn more not just to live better but to have more to help and support others with and to make the world a better place.

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It was an article i wrote and pulled from my blog for the benefit of the folks on this platform.

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Couldn't agree more. A lot of people think starting a business is risky (which it is), so they shy away from it. The real gold mine is buying an existing business.