So, if he makes $100,000, then the difference from what you cost him and what he makes is $50,000! That $50,000 is his override on you.
If you are an employee you are being overridden – everybody! Even if you are making $200,000 - you’ve got to be worth a lot more than $200, 000 for somebody to pay you $200,000! So, you are being overridden right now too.
Now, think about your employer, are you his only employee? How many employees are there at your work – about one hundred? So, let’s say he’s making $50,000 per employee in overrides. What’s he making? A lot of money, right? He is taking advantage of what is called leverage. That’s why being a business owner is better than being an employee, because now you can start leveraging your time and energy.
“I would rather earn 1% off a 100 people's efforts than 100% of my own efforts.” ~ John Paul Getty
Making 100% off 1 person’s effort is the most unstable form of income this planet has ever known, yet it is sold with a false sense of security. Most people think that they have security when they have a job. However, the problem is, you don’t own your job and it can be taken away from you at a moment’s notice. You have absolutely no control and 100% of your income is off your efforts. That is why it is a false security.
True security is having a thousand people who you are overriding.
Overrides are the most stable form of income. Overrides don’t get sick; they don’t get hurt; they don’t die; they don’t get laid off and they can work 24/7/365.
The bad news is that 95% of Americans are employees and are being overridden while only 5% of Americans are business owners who are doing the overriding. The good news is that America is the Land of Opportunity. It’s not too late to get yourself in position to start a business, perhaps even on a part-time basis, and plant the seeds to creating a stream of overriding passive income where, as your income grows, you can lessen your dependency on having to have a boss or having to have a job.
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