How To Think Like An Entreprenuer!
Posted: Wednesday, January 13, 2010
by Rhiannon Wilkinson
I will give you a perfect example of how an entreprenuer must think. I went with my business partner to teach a work study class about starting an online business. One student raised their hand and said, "What do you pay?"
To which we replied, "We don't pay you anything, you have to sell!"
Needless to say, there was a lot of disgruntle kids in the room. lol...
Most people would much rather go for the safe, secure and steady paycheck. But is it really? Is it safe to let ONE PERSON be your only source of income - instead of hundreds or thousands of people? Because basically, one customer is one income source. When you are an employee, you limit yourself to just one income source instead of opening yourself up for having hundreds, thousands or even MILLIONS of income sources.
At first, you have to work for free. It is very hard to build up to the point where you supplement your income that you would make at a job. So, you have to look at being an entreprenuer as a long term investment versus a short term fix.
Being an employee is only a short term fix to your financial situation. An employer is barely going to pay you enough to cover your living expenses. If you make higher than average income working for an employer, then Uncle Sam will take the rest by putting you in a higher tax bracket. High earners in the employee bracket are in the 50% tax bracket - which means half of their money goes to taxes.
When you are a business owner, you can write off everything that pertains to your business as an expense.
The best "How To" book about becoming an Entreprenuer is "Rich Dad Poor Dad" by Robert Kiyosaki.
Also, you don't need money to get started.
For example, I was flat broke with bad credit when I found a property that the owner was willing to sell for $40,000 dollars.
I knew it needed $20,000 worth of work and that once it was fixed up - it would sell for $125,000 dollars.
I found a person in town who was THRILLED to partner with me on this deal, because there was so much money to be made. He had the money. What I brought to the table was finding the deal, making sure it was fixed within budget and advertising for a buyer until it sold.
So, it doesn't take money to make money. All you have to do is train your mind to spot an opportunity, and you can start generating an income stream.
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