[VIDEO] INCOME SERIES #2: Profit Income – Why Many Millionaires are Business Owners
Business ownership is considered one of the best strategies for building wealth because of the opportunity it creates for high income. Income from the business is one such opportunity. For business owners, this income is an additional income to their earned income.
So, you can only get profit income when you establish a business and the business makes a profit. This means that owning a business is an investment vehicle that you can exploit and invest in to make additional income. However, you can only make this additional income when the business makes a profit. Since making the additional income requires that the business make a profit, the decision to become an entrepreneur is often a difficult one for most people.
For the risks of not making a profit and sometimes not making enough revenue to pay themselves earned income for working full time running the business, most people prefer to remain just comfortable working for other people and getting paid just their earned income.
Knowing that successful wealth-builders never rely solely on earned income, could be your motivation to build wealth by establishing a business of your own. Depending on your stock of capital, profit income could be that additional… Share on X
Excellent and well detailed