Start your own Business

START YOUR OWN BUSINESS

WHY DO I NEED DO HAVE A BUSINESS OF MY OWN?

According to Mr. Robert Kiyosaki,a financial expert, there are four ways to earn income. 

 ACTIVE INCOME is when you work for money. "No work No pay"

1. E refers to Employees: When your an employee, you work for someone else's business. If you don't work you don't get paid. 

2. S is for the Self-employed, like lawyers, doctors, or those persons with small businesses. They might have control of their time, they can take a vacation but if they don't work or attend to their clients, customer or patient (for doctors), they will also have no income. 

PASSIVE INCOME is when you put less or no effort at all but still money keeps coming in, even if you are on vacation or sleeping, 

3. B is for big businesses, they own companies where people are working for them.They use the Law of Leverage, in order to increase income. They multiply themselves but hiring other people to work for them. They multiply their time and effort through others.
Like for example Henry Sy, he owns a lot of companies (SM Malls, Banco de Oro, etc)

4.  I refers to Investors, who has a lot of money and lets their money work for them.

 When you have a job, you are selling your time, knowledge and skills for money.  Your income depends on what your company or boss gives you. Even if you work harder everyday, your income still depends on them, they control the how much you can earn. 

And the only way you can control your own income is by having a business of your own.
"You can never be truly financially free as long as you are working for somebody."  

 If you are an employee, you can make that transition from having an active income to passive income by having your own business. 

DIFFERENCE BETWEEN AN EMPLOYEE AND A BUSINESSMAN
If you are in Employment, you are… Follower. You have a boss.
If you are in Business, you are… Boss. Because you own the business.

If you are in Employment, you have… Limited Income. A fixed monthly salary
If you are in Business, you have… Unlimited Income / can provide you Financial Freedom

If you are in Employment, you…Reach the dreams and goals of your boss or the business owner.
If you are in Business, you… Reach your own dreams and goals

If you are in Employment, you have… 100% effort required
If you are in Business, you have… 1% effort needed. you multiply your time and effort through others. (Its called the Law of Leverage)

If you are in Employment, you… spend more of your time at work.
If you are in Business, you… can have Time freedom.Because you give less effort and less time because you have other people working for you.

If you are in Employment… starting date cannot be specified.
If you are in Business… you can start today.

Among All the businesses out there,
What kind of business can I start?

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