Business Owner vs Self-Employed
Would you believe that this is something I am still struggling with.
I had to have a discussion with a good friend of mine about this.
And I thought to a large extent many people are confused by these two categories.
They mistakenly think that being self-employed is being a business owner.
My coach has been going through these concepts with me for a while now.
He shared with me Robert Kiyosaki’s Wealth Quadrant (or whatever it’s called)
We’ve all seen it before right?
Here it is! Just in Case you haven’t
But we all know the facts.
80% of the people exist on the left side
and they hold like 20% of the wealth in the world.
Where as on the right side 20% of people reside on that side and hold 80% of the world’s wealth.
So you’re probably noticing that being Self-employed is on the LEFT side
20% of the wealth.
So you’re probably asking yourself how come working for youself doesn’t generate wealth.
Well this is how my mentor explained it to me.
When you’re an employee you just have a job.
You go to work, you perform your assigned duties and then you leave.
At the end of each month, you are paid based on your time.
For salaried people they are paid whether they “work” or not.
For hourly paid people they paid once they SHOW UP
Again – no work really needs to be done.
The self-employed person says,
“I want to work for myself!
I want to control the hours I put out.
I want to feel more accomplished at the end of the day.”
This is a great and first step to moving out of the employee mindset.
But there is a kicker!
Being self-employed is only OWNING your job.
What we don’t realize is that if you are on the left side of the quandrant you are doing what the rich never do
You are TRADING TIME for MONEY.
Trading time for money only means one thing
If you don’t work, you don’t get paid.
As an employee y ou only have one job to do.
As a self-employed person – you have the job of the HR department
The IT department
the Operations Department
the Processing Department
the Customer Care Department
It is no wonder many self-employed people pack up shop and go back to getting a job.
They haven’t figured out that once you are trading time for money you will continue to drown yourself.
Tomorrow I’m going to go into what it really means to be a business owner.
Have a great one!
Hilary De Freitas
Online Marketer, Operational Nerd and Mom
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