RISK OR FREEDOM? (The Millionaire Next Door)

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AudioRISK OR FREEDOM? (The Millionaire Next Door)

Why do people operate their own businesses? First, most successful business owners will tell you that they have tremendous freedom. They are their own bosses. Also, they tell us that self-employment is less risky than working for others.

          A professor once asked a group of sixty MBA students who were executives of public corporations this question.

What is risk?

One student replied:

Being an entrepreneur!

          His fellow students agreed. Then the professor answered his own question with a quate from an entrepreneur:

What is risk? Having one source of income. Employee are at risk… they have a single source of income. What about the entrepreneur who sells janitorial services to your employers? He has hundreds and of source of incomes.

          Actually, there is considerable financial risk in being a business owner. But business owners have a set of beliefs that helps them reduce their risk or at least their perceived risk:

  • I’m in control of my own destiny.
  • Risk is working for a ruthless employer.
  • I can solve any problem.
  • The only way to become a CEO is to own the company.
  • There are on limits on the amount of income I can make.
  • I get stronger and wiser every day by facing risk and adversity.

To be a business owner also requires that you have the desire to be self-employed. If you hate the thought of being outside the corporate environment, entrepreneurship may not be your calling. The most successful business owners we have interviewed have one characteristic in common: They all enjoy what they do. They all take pride in “going it alone.”

          Consider what a multimillionaire once told us about being self-employed:

          There are more people (employees) today working at jobs that they don’t like. I’ll tell you honestly that the successful man is a guy who work at a job, who likes his work, who can’t wait to get up in the morning to get down to the office, and that’s my criteria. And I’ve always been that way. I can’t wait to get up and get down to the office and get my job under way.

This Article is taken from The Millionaire Next Door

Written by Arshad. A

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