Wage vs. profit? It’s more of a question of owning a business or working at a job; which is the better way to earn income?
If you’d ask any entrepreneur who have had some sort of success in a business or as a self-employed person, it’s a no-brainer. People who have experienced earning full-time income from a business will always and will always choose profits over wages!
It’s otherwise, however, if you’re just looking to earn a living and nothing more but the fact that you’re asking this question means that you’re onto something deeper than simply earning a living.
If building wealth is your cup of tea (which should be, otherwise, you wouldn’t be on this web site), you’re better off with working your way to earning a profit than a wage. Of course, that answer should come with an explanation as earning profits on a full-time basis may be more complicated than punching the clock.
Earning wage is easy; just get a job, show up, do your hours; rinse and repeat! Working at a job is a matter of punching in and out of a workplace. Just be ready to work 8 hours a day for at least five times a week building someone else’s business for 30 or 40 years. That’s all you got to do and you’re guaranteed to receive a wage every two week for the rest of your working life. There are only some problems with this career path: one, is the fact that you will have to do this repeatedly until you no longer can, second, is the fact that you’re only paid enough to make you stay!
Earning profit on the other-hand can be more difficult than working for a wage but as Jihm Rohn puts it:
“Profits are better than wages. Wages make you a living which is fine. Profits make you a fortune, which is super fine!”
Based on my personal experience, all the challenges that you’re going to encounter in building a business that will turn in profits for you and your family will all be worth it!
You may not earn income-replacing profits on a sustainable basis right away but it still is going to be worth your while… think of it like planting a tree. You will need to work hard on nurturing your business in the first couple of years but it may bear fruits for your family for many generations to come.
If you fear hard work then profits may not be for you but if you don’t know it yet; you’ll be working harder and longer if you settle for being paid a wage.
A lot of people are afraid of starting a business not only because they fear that it’s going to take a lot of work but at the same time because they fear failure. Let me tell you something, people fail in life not because they have tried and has not succeeded but because they have never tried for fear of failure.
If you’re reading this, you may be looking for a way out of the matrix. If you want to be successful in life, just do the opposite of what the 95% of the world is doing, you’ll pretty much end up with the 5% of the world’s population that are successful.
Most people feel safe and secure with a regular 9 – 5 jobs; depending on where you are in the world, a “safe and secure” job has never existed. It’s nothing more than a conspiracy of the world’s elite to keep most of the world’s population from amassing wealth of their own.
This was a belief that kept 95% of the world in poverty, so the chosen few can enjoy the majority of the world’s wealth.
Generation after generation, parents per-conditioned their kids to study hard, get good grades, finish school and get safe and secure jobs, believing that their doing their kids a favor but the reality is; almost, no one ever has gotten wealthy from a job.
Back in the day, my mom really wanted me to become an Accountant which she deemed to be a safe and secure, high paying job. I’ve always been an obedient child that’s why I took accountancy in the university but at the back of my head, I have always questioned that career path. Just because you’re working in an office, doesn’t mean that you’re stable financially and that you’re set for life which is opposed to what most people think.
I’ve always seen working for someone else as a form of slavery which limits a person’s personal and professional development because most jobs won’t even incentivize you for thinking; heck, thinking may even get you in trouble or worse; fired! Safe and secure means just doing what you’re told, you’re not allowed to think or question your boss’ decisions because even when you’re smarter than your superior; you’re safe from getting fired if you just do what you’re told.
If you’re searching for answers, you may be just one step away from earning profits from a business or investment. A lot of people who starts businesses do it all wrong as most would start a business when they’re desperate; not to say that it won’t work but you must take measured risks. The Rambo approach rarely work in the business world; if you currently have a job that provides wage for you to support yourself and those who depends on you for financial support, don’t quit just yet. Quitting will put you and your family in all hoops of trouble; some gurus and network marketing leaders lure people into going all in and quitting their jobs to focus on the business 100%; while it’s true that you’ll have more chances of becoming successful when you focus all your efforts into it; quitting your job to focus on a business that doesn’t turn in profits yet is a stupid idea.
Start part time and treat your business like a day job; you must put in the hours to build a real business. Don’t join or start a business that doesn’t require any work; anyone who tries to lure you into joining a network marketing company or sell you a course or product that promises an “auto-pilot” business with no work is lying from you. There’s just no such a thing, you know you can’t build an empire without the hustle. You have to be willing to lay some bricks and get your hands dirty!
If you want to switch from earning a wage to earning profits which has the potential to become a semi-passive source of income in the future, you have to commit to working hard on your business; at least in the first few years. Sure you can turn in profits in one or three years but building a real, solid business takes time and you have to be willing to commit at least 10 years in building your empire. Remember, building a business is like planting and nurturing a tree. Commit your hard work, talents and skills into something that has the potential to change your life financially.
If you think that switching from a wage earning employee to a profit yielding entrepreneur is hard work then you have to better think harder: 10 years of commitment into a business is way better than 30 to 40 years at a job!