If you are a sole proprietor; You are a one man organization.
You may fall under the left quadrant which is a self employed, or to the RIGHT quadrant which is a NR (New Rich/entrepreneur) or an investor
I prefer to be a NR.
Why? because I still have not delve into the world of investing. As of now Self made business is all I have.
When you are self employed, you will not have the luxury of time.
Think of businesses with the end in mind. A Business that will generate profit and consume the very less of your time.
Have a vision. A business for the sake of money is a business designed to fail. A business designed to fulfill peoples need and enrich their life is deemed to support one.
Hire someone to manage your business. If you can't afford it or have a small capital, make sure it is easily managable and not time consuming.
Let us discuss entrepreneurship and resources.
Entrepreneurship is gathering resources.
Captial- I suggest that money may come entirely from you. Having a loan is suicide in advance.
There are also clever ways to get capital. ASK FOR IT. No, they won't get offended, you are just asking, it is up to them to decide what they want to do.
Labor-If others can do it for you, hire them. Just make sure that they are world class doers. Not hiring or wrong hiring may result to it becoming a liability.
Liabilities - I prefer businesses without liabilities. As what my professor said "your business is very liquid" (my business)
You may fall under the left quadrant which is a self employed, or to the RIGHT quadrant which is a NR (New Rich/entrepreneur) or an investor
I prefer to be a NR.
Why? because I still have not delve into the world of investing. As of now Self made business is all I have.
When you are self employed, you will not have the luxury of time.
Think of businesses with the end in mind. A Business that will generate profit and consume the very less of your time.
Have a vision. A business for the sake of money is a business designed to fail. A business designed to fulfill peoples need and enrich their life is deemed to support one.
Hire someone to manage your business. If you can't afford it or have a small capital, make sure it is easily managable and not time consuming.
Let us discuss entrepreneurship and resources.
Entrepreneurship is gathering resources.
Captial- I suggest that money may come entirely from you. Having a loan is suicide in advance.
There are also clever ways to get capital. ASK FOR IT. No, they won't get offended, you are just asking, it is up to them to decide what they want to do.
Labor-If others can do it for you, hire them. Just make sure that they are world class doers. Not hiring or wrong hiring may result to it becoming a liability.
Liabilities - I prefer businesses without liabilities. As what my professor said "your business is very liquid" (my business)
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