subject: Escape from the Rate Race by Starting Your Own Business [print this page] Escape from the Rate Race by Starting Your Own Business
Ever thought about starting your own business? About how much better it would be to run your own show? If not, you should!
Think of your life now. If you are like most people, trapped in the rat race, your life is controlled by someone else. You are shouted at to get up by your alarm clock. You hustle out the door and race down the road because you must arrive at your employer's business at a certain timeor else.
You must take lunch at a prescribed time, and you must stay on the premises until someone says you can go. Even to go to a doctor's appointment, you must ask permission and schedule the "time off."
Contrast this with starting your own business. You say when it's time to get up, time to eat, time to go to the doctor, time for a vacation, a golf game, or a manicure. With your own business, you are in charge of your schedule. You are the boss!
But it's not just that. There are other factors to consider in the age-old question of whether to keep a job or start your own business. Take money, for example. Your job pays you a set amountno matter what. Typically it's the least amount your employer can pay to get you to accept the job and stick around to generate more money for his business.
Unfortunately, the typical salary doesn't allow you to save and invest much. You just can't get rich working for someone else! Even with a measly 2 to 5% raise each year (count yourself lucky if you get that much), you just can't get your salary high enough to build real, true wealth.
Let's say you are earning $50K. That's about the median salary businesses are paying in the U.S. right now. If you save 15% a year, or $7.5K, it will take you ten years to save $75K. And that's not enough to buy a house or to have a secure future.
By starting your own business, however, there are no limitations on your earnings. After you pay back the initial investment made for starting your own business, you are the sole beneficiary of every dime you make! Because your business can grow over time and eventually run itself (with the help of others and the beauty of automation), you will continue reaping ever-growing rewards. Starting your own business means that you are building financial freedom for yourself and your family for generations to come.
In the history of corporate America, no one has ever saved themselves rich by working a job. In the past, with pensions and healthcare coverage for life, you could work for a business and retire with just enough to maintain your current or a slightly reduced standard of living.
The trouble is that scenario is gonefor good. Our entire society has changed. It's about entrepreneurshipstarting your own businessand carving out your own financial destiny. Don't wait until it's too late. Every day you could be getting wealthier by starting your own business!
