When you are a business owner you don’t have the liberty of going broke. You can’t spend everything you have. This is because you don’t really know when the next check is coming in. The bills don’t care though. Your bills, your tenants and your employees don’t care if you are having cashflow problems. They only care that you owe them.
Since you don’t know when the next check is coming you can’t let go of everything that you have like the paycheck to paycheck person. You are forced to create wealth. You are forced to accumulate what you earn even if you already have more than enough.
The amazing thing about this though is that this FORCES you to create wealth.
The more money you accumulate and don’t spend is wealth. This wealth is measured by the the amount of days forward that you can live without generating income. As you improve your skills, systems and processes you will continue to stack more and more wealth on top of the existing wealth. The entrepreneurial process won’t allow you to spend your last so you are then forced to accumulate mass amounts of wealth.
For example, if your annual living expenses are 1k a month and you have 10k saved you can live 10 months before you are homeless and hungry. You can then put this 10k to work yielding you interest and passive income while you grow your business and continue to stash money away.
This is important and this is why so many business owners live frugal, retain cash and don’t spend their last.
On the other hand, the lie of job security allows people to be poor.
The common acronym for JOB is Just Over Broke. Many people make money and spend it in hopes of getting it right back in the form of their next paycheck. Because they have the “guarantee” of a check coming in a week or so they are then able to go broke, and most wage earners do.
The reason why so many people are poor is because they get their income from the wrong places. It is not a wage issue it is a source issue. The fake security of the job keeps your wages low and it also allows you to let what you have go. Jobs allow people to be poor.
This post was inspired by the new mindset I have developed around business and investment income as a newly self employed individual. I realize that this lack of a check that comes in a week has forced me to hold on to every cent even more tight than frugal me already does. This then allows me to accumulate wealth upon wealth. I look forward to sharing more stores with you.
If you are interested in learning how to invest long distance email email@example.com
I encourage you to invest with us and join our partnership. We are doing a great work and if we keep up the pace we can be into twelve doors before the middle of next year. We are also going to buy a truck by midyear. If you want to form your own contact us for a consultation and we will walk you through the process.
If you are interested in investing with our club on either the stock or real estate side we would be happy to welcome you into the partnership. Email firstname.lastname@example.org today to join.
We have an amazing course that will teach you all you need to know about how the stock market works and you can find that here: https://www.udemy.com/what-they-didnt-teach-you-about-money/
Thanks for reading!
Be great, invest well,