Hello friend, are you a business owner? If yes what kind of business do you run? On the other hand, if no, would you like to become a business owner?
Am sure your answer above will be positive. Well, it’s no doubt that in our world today everybody desires to be at the top.
Nobody wants to be poor, everyone wants to become rich.
One of the reasons why the rich grow richer is because the rich startup businesses that turns into assets, which returns to pay their bills.
It looks competitive, however with focus and determination, it’s possible.
In this article, you will find out the 4 classes of people with regards to their financial status, 10 powerful reasons you need to become a business owner and how to become a business owner.
Table of Contents
4 Different Kinds of People with Respect to Income:
There are four different kinds of people when it comes to their income life, let’s quickly talk about them before unveiling the reasons you need to become a business owner.
1. No Job:
These categories of people are completely jobless, they have no job, no business, no appointments.
Well, on the other hand, they have all the time in the world to attend parties, birthdays and are always available online and offline any time they are needed.
The crazy aspect of these class of people is that they might have all the time in the world but they mostly have no money.
Hence, I strongly advise you shouldn’t be in this class.
2. The 8 hours Income class of people (9 to 5):
Here comes the 8 hours working class people.
These class of people work for a boss. They dont care or desire to become a business owner, hence we call them employees.
They work 8 hours daily for a paycheck.
Well, such people have the advantage to earn money, some of them can afford to earn well enough to live a comfortable life.
Hence, they might have money but have little or no time for their private life’s and hardly travels because if they are gone for a long time they will just get fired and replaced by their boss.
In conclusion, they have money but no time.
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3. Self Employed personnel:
Have you heard about the one man business thing, here is the one man business class.
I sincerely honor the self employed income class. They are diligent, productive and hard working. These categories of people choose to work for themselves and do absolutely so.
Most self employed personnels make more money and are more financially stable than employees.
Well, it takes discipline to succeed here, also it’s important for you to know that they are just one step away from becoming a business owner.
Self employed personnel’s have the money, they can freely travel anywhere they want at anytime, however, they have little or no time for their private life’s.
Also, they can only earn money when they are present at there businesses.
4. Business owners / Entrepreneurs:
Here are the entrepreneurs, the job creators, the opportunity seekers and inventors. Hence we can call them the business owners.
The business owners are in the top class income workers, they have all the time in world, they enjoy the opportunity to travel round the world, to top it all they also have the money.
Business owners make money even in their absence from their business locations simply because they have people working for them.
One of the 18 habits of business owners is their ability to go extra miles in making sure success is achieved, by working smart and hard.
They are called the entrepreneurs.
Entrepreneurs are the crazy people who work 80 to 100 hours a week because they don’t want to work 40 hours for another person.Tesla and Space X CEO Elon Musk
Furthermore, there are quite another class of people who are called investors, these are the people who look for businesses to put their money. Thereby making their money work for them.
A good example of one of the world most successful Investor is Warren Buffett.
10 Powerful Reasons You Need to Become a Business Owner at all cost.
1. Business owners control the economy of the world:
Let’s talk about trade and commerce, take Amazon for instance, Amazon is a trillion dollar company and the largest e-commerce company in the world.
Amazon was launched by Jeff Bezos in 1995, If Jeff Bezos hadn’t start Amazon, he wouldn’t have been where he is today.
Also, despite his 11% ownership stake in Amazon today, Jeff is still the richest man in the world by Forbes billionaire rich list at the time of writing this article.
2. It offers you the privileged to pay yourself:
Majority of small business owners today can afford to pay themselves irrespective of the global recessions in the world today.
Nothing compares to the fulfillment and joy of being the boss at your workplace.
You decide what happens and what doesn’t happen.
Hence, you get to work for yourself and pay yourself at will.
3. Salaries are never enough hence becoming a business owner is the way out:
The richest men in our world today aren’t salary earners, they are business owners and investors.
These are men and women who took the bull by the horn to escape the rat race of salaries according to Robert Kiyosaki who calls it the rat race.
Hence, if you know that salaries are never enough then you need to sit up and start up a business of your own.
Therefore, I encourage you to take actions to become a business owner today because business owners make more money.
4. You never get fired when you make a terrible mistake:
Who fires the boss? Well, from my perspective only his customers can fire him.
On the otherhand, no body fires him if he sticks to his job and do it diligently.
Hence, we can say one of the reasons and benefits of becoming a business owner is that nobody fires you.
5. You can fight against inflation as a business owner:
The current inflation rate in our world today is killing the purchasing power of money.
Hence, if you earn a fixed salary, inflation might weaken the purchasing power of your money as times goes on.
However, business owners can afford to regulate the prices of their products and services to match the current rate of inflation.
This is true because they don’t live on paychecks but basically on product and service commissions.
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6. You can learn what schools will never teach you:
According to Robert Kiyosaki, his poor dad wants him to go to school, get good grades and get a job.
However, his rich dad wants him to learn how to create jobs.
In our modern schools today, its a normal myth to go to school, get good grades and come out to get yourself a job.
However, being a business owners makes you learn the reality of life.
Therefore, you learn how to sell, how to bargain, how to cut losses, take profits and so much more.
7. You pay lower taxes when you become a business owner:
Do you know that the employees and self employed people pays the greatest amount of taxes.
Business owners on the other hand pay relatively lesser tax because the business and workers pay their taxes for them.
Owning a business will give you the opportunity to pay less taxes and keep more profits.
Lower tax benefit is one secret most investors and business owners would never tell you.
8. It makes you an employer and job creator:
Being a business owner gives you the opportunity to create employment opportunity for others.
I call it your contribution to the society. It helps in reducing poverty, unemployment rate and increase the standard of living in an environment.
Apart from government agencies, the only way to become an employer of labor or job creator in our world today is to become a business owner.
For instance, employers like Jeff Bezos, Bernard Arnault, Elon Musk, Bill Gates and many others have added value to our world today.
9. You get the opportunity to innovate on existing problems:
The urge for innovation burns daily in the hearts of men and women, and one good way to do that is to own a business.
Innovation requires creativity, change and money to accomplish.
Hence you can only expect little or zero world changing innovation from a 9 to 5 worker because they might be restricted by their jobs and their bosses.
The sense of fulfillment that comes with the ability to introduce innovation resides with business owners otherwise called entrepreneurs.
10. Becoming a business owner is vital to create a huge asset column:
Becoming self employed can help you build a huge asset from scratch.
This means over a specific period of time you own a system that generates consistent income to you.
According to Robert Kiyosaki, best selling author of rich dad poor dad, an asset is any thing that puts money into your pocket.
Most successful business owners in our world today are world class asset owners.
Also, it’s vital for us to know that assets makes people make money in their sleep.
Therefore, we can also say one good way to make money in your sleep is to become a business owner.
How to Become a Business Owner:
According to Robert Kiyosaki, best selling author of rich dad poor dad, “Often, in the real world, it’s not the smart who get ahead but the bold.”
Therefore lets checkout some 9 solid steps to become a good business owner.
- Find a problem and offer a solution, If possible try to innovate existing solutions.
- Do your passion, it’s easier to succeed in doing what you love.
- Build good relationship with customers, here is an article on how to build a great customer’s service in 365 days.
- Take up a challenge to grow yourself by surrounding yourself with men and women of vision.
- Appreciate all members of your team.
- Connect to a mentor who is already producing the kinds of results you want.
- Never give up even when all odds are against you.
- Have a handover plan, you wouldn’t work forever.
- Design a system that works freely and smoothly.
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How will you feel if you become a business owner today? Oh, I know that will be so refreshing.
On the other hand, are you already a business owner, share your experience with me at the comment session.
Being a business owner will give you the opportunity to make your own decisions, create jobs for others and contribute to the world around you.
Am sure after reading this article, you now know the different class of people with respect to incomes, the 10 powerful reasons you must become a business owner and how to become a good business owner.
Did you get the point behind this article, why not share your thoughts with me at the comment session.
Also share this article across social media, you might be helping someone.