Working versus Business Ownership

I’ve been reading ‘The Millionaire Next Door’ and a recurring thought keeps popping into my head. The people who own their own business seem to be equated with being more successful. And I couldn’t agree more that this should be the case. Now the big issue from my point of view isn’t that business ownership is more lucrative but the risks in deciding to do it. I don’t know how it is for most people but when I think about starting up a business myself I get gripped by fears of failure. These feelings make me second guess the idea before it’s even gotten off the ground.

Needless to say I’m still a working stiff, collecting a nice secure paycheck. But I’m getting to the point where I hate it; I want to be in control of my own destiny. I want to be able to make more money and let other people work for me and make money for me as well as me making money for myself. Am I ready to start looking into becoming a business owner myself? Yes I believe that I am!

I also believe that being a business owner is the best way to accumulate wealth. The reason I believe this is that best way to accumulate wealth is because unlike with a regular job where you do your thing and get paid. With a business you need to grow and learn and adjust to the things that happen; you are in control over your own success and you are in control over what you learn and do. The other nice thing with owning a business is that unlike a job if something changes the business itself is an asset where simply having a job doesn’t have any future or potential value.

So what’s the next step? Its time to start evaluating some ideas for what I could do for a business, how I could start my own thing and maybe get it going before I try stopping being a working stiff.

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One thought on “Working versus Business Ownership”

  1. I believe that we definitely need to have our own business. And I believe it’s smart to also start out small and do it part-time, then keep growing it until it becomes your day job. Just like Robert Kiyosaki says, having a business is like planting a tree… you put it in soil, fertilize it, water it, and keep repeating until one day the tree grows strong enough to where it doesn’t need you anymore…and then it provides shade for you forever.

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