Sunday, April 24, 2016

The Only Way to Get Really Really Rich

Check out this gem of an investment opportunity: It’s a simple investment; you only have to invest almost all of your money. On the upside, after a year you might earn 3% more. The downside, any day you could lose it all for reasons usually outside your control and that you will almost never see coming. Would you make that investment? Of course not, yet millions of people do every day. They go to work for someone else. (Of course the analogy isn’t perfect until you get laid off or fired.)

At a job, you do earn a salary, but when you work for someone else your upside is always capped. Sure, you might occasionally get a raise, but in most cases 3-4% is the best you can expect, but yet your downside is almost always unlimited because getting fired or laid off can make your income disappear overnight and with it the considerable investment you’ve made in time, effort, dedication and sacrifice. Extremely limited upside and unlimited downside – that’s a terrible investment.

If you wish to become really rich, working for someone will never get you there. Working for a salary won’t make you really rich; making only safe income investments won’t make you really rich; investing only in stocks of large companies won’t make you really rich.

Owning a business or businesses could not only build a solid foundation of wealth but could someday generate a huge financial windfall and make you really rich. Clearly getting really rich in financial terms is a result of investing in yourself and others; of taking risks; of doing hundreds of small things right and then doing one or two big things really right.

There’s another way that by owning a business you get really rich – really rich in life. By asking how it feels to be an entrepreneur many usually gush about the challenges; the responsibilities; the sense of mission; the sense of purpose; the sense of fulfillment and excitement of working with and for a real team; the amazing feelings of empowerment and the control over their own destiny.

The only way to become really rich both financially and really rich personally – in other words, really really rich – is to start your own business – even if it is just on the side; even if it is just a slightly stepped up hobby. There’s no reason not to. You don’t even have to quit your job - right away, probably, you shouldn’t anyways. One of the best ways to minimize your risk is to keep your full time job while you build your foundation for success. Plus the basics for starting a business are easy – you can learn them in one day.

Here’s the deal, in return for less freedom, less control and less fulfillment, every day you go to work for someone else your upside is always capped and your downside is always unlimited. The downside for entrepreneurs is also unlimited but in return, they enjoy the possibility of an unlimited financial upside and an unlimited personal upside.

So, take a chance on yourself. Try to get really really rich. Maybe you’ll only become really rich, but one out of two is still really awesome and you will have achieved it on your own terms.

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 comments, please post them below, otherwise, feel free to contact me.
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