Thursday, March 31, 2011

“Getting a Job” and Three Other Ways to Earn an Income

In these tough economic times we need to start thinking differently. With an uneasy economy, low consumer confidence and high unemployment numbers it is important, now more than ever to change our antiquated way of thinking.

Elementary School children take their State school assessment tests in an attempt to measure their teacher’s performance and how their schools are doing. Middle School children take their PSATs as a means for preparing for their SATs that they will be facing later in High School. High School children take their SATs in hopes of getting into a better college and they take their CATs to figure out what career they would like to get into after high school or college. It almost seems like, with the current way of thinking, that we are more worried about the number or the scorecard, rather than the future of the child.

Furthermore, once they get into college, they are, for the most part, taught the skills they will need to get a good job, so they can work for money. Where’s the creativity in this? I think we should be teaching our kids how to get into a position to make money work for them!

Jim Rohn says, “By the time a child turns eight they should own two bicycles, one to ride, and one to rent.”

I know I am over simplifying things a bit, but we should at least be teaching in school the four ways to earn income:

1.) Become an Employee – As an employee you have a job. Income is based on position and not the person. Being an employee builds no equity.

2.) Become Self Employed – By being self employed you own a job. Some examples are dentists, doctors, lawyers, hair stylists, real estate agents and salespeople. Your income is limited by the amount of amount of people you can see in one day.

3.) Start a Business – As a business owner you own a system. You have others working for or with you. You have unlimited income potential and equity.

4.) Become an Investor – As an investor you have money working for you. You enjoy complete freedom and can live the dream.

Don’t you think that this is something important that kids should know and understand before they go job hunting? Their primary goal in life should not be just to “get a job”.

Well, we cannot rely on whether or not this important information is taught in school, so for now, it is up to us to make sure that we spread the word to as many people as possible.

As parents and teachers, it is important that we know “The Rules” too. And one of these rules is that the primary goal of business is to make a profit. Simply put, Profit = Revenue – Expenses. Where do you think Employees fall in this equation? That’s right! Employees fall smack dab in the middle of the Expenses column.

I am not at all against Employees who have jobs (I am one of them myself) – and by all means, my heart goes out to the people who are unemployed and are trying to find jobs – but I think it is important to teach kids that there are other options out there.

Just imagine if kids were taught to be more creative and entrepreneurial at a younger age and knew and understood all of their options – if they couldn’t get that job as an Employee, maybe they would instead create their own job by possibly becoming Self Employed, starting a Business or maybe even by becoming an Investor.

I'm so excited to share this information with you. If you have enjoyed the information or feel that it would benefit someone else, please share it. If you have any questions or comments, please feel free to contact me.
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