When you become an entrepreneur, you’re hopeful. You get into business because you want freedom and control, but is it really what you get?
It won’t take very long when you start to become a business owner, you start to realize, “Wait a minute, I kinda own a job”. You’re in the very same rat race you wanted to get out of, even when you’re making more money!
Watch this video to learn more about what makes entrepreneurship a rat race and how you can get out of it so you can become stress-free and financially independent!
“I became an entrepreneur just out of college. My whole goal was to learn how to be a business owner so I can consult people on businesses.”
“I dropped out of college with one class to go to get my bachelor’s in Sociology and I decided I’m gonna take that entrepreneur path.”
“I wanted freedom, I wanted the control of my time, how much money I make, and my life, essentially. So that’s the path I took.”
“It didn’t take very long and those of you who have been in business, you get it – that when you start to become a business owner, you start to realize, “Wait a minute, I kinda own a job”.”
“The problem is there’s a rat race also for entrepreneurs. Entrepreneurs can end up being in the same place even when they’re making millions of dollars.”
“I’ve seen entrepreneurs making millions of dollars a year, yet they are still stuck in the rat race, just as bad if not worse than people who have a regular job.”
“You wanna be able to track the money coming in but you wanna be able to track the money going out too. Make sure that both in your business and in your home, you’re profitable.”
“The big trap that entrepreneurs get stuck in is they say “I’m reinvesting in my business”, and trust me, I get it. I put money into my business as well, yet if you’re always “reinvesting” your money but you’re not taking a lot of that home, you’re not actually profitable.”
“You’re not actually investing, you’re just spending money in hopes that maybe it’ll build up that revenue.”
“You have to be profitable in your business first then you have to be profitable at home, second.”
“Basically, he’s talking about trying to save or invest about 75% and living on 25%, but at least putting away 50%.”
“If you have a lot of money coming in, you can totally do that and that’s great, but the concept or the principle behind it versus the numbers is essentially the same. You need profit at home, you need extra money to be able to free up – this means you need to be a wise steward.”
“Focus on profit in your business. Get your business profitable where you have more than enough to bring home.”
“With that money that you bring home, have extra that you can then invest to generate more streams of income than in your business.”
“When you start coming from a place of mission rather than just commission, that is when you start to see some amazing things happen. You start to work less and make more.”