What is the best source of income?
Which quadrant you lie and would prefer as the best source of income?
1. Employee - For generations parents have been giving the
following advice to their children, "Son, go to school,
get good grades and find a safe secure job. Save money and
buy a house."
We have been psychologically programmed by our society
to be work for someone else. To be independent.
The advantage of this quadrant is that you master what you have
studied for. For example you study medicine and work in a
hospital. You gain experience after some time and become good
at what you do. The disadvantage is if you want to earn more
money you have to exchange more time or expertise (like a master's
degree) to your boss.
2. Self Employed - This is the dream of many people. To own their
own small business. Most professionals like doctors (specialists),
lawyers, engineers fall under this quadrant. The advantage of
this quadrant is that you have control; you are your own boss.
There is no one above you to tell you what to do except
yourself. The disadvantage is that in order to earn money you
have to spend more time running your small business. So the
more money you earn, the less free time you have. When you're
sick or you travel, you make no or very little income for you as
the business cannot run without your presence. A good example
is a cardiac surgeon who starts his small cardiac surgery
hospital. For cardiac procedures to be done, he has to be there
otherwise he won't make any money. That's why Self Employed
people are so busy struggling trying to make ends meet. They
have very little or no free time.
3. Business - If you want to be financially free, then this is the
best quadrant to be in. This is where the majority of the
wealthiest people in the world are. But the surprising thing
is that more than 85% of the top entrepreneurs don't even have
a college degree. Examples of those who quit high school before
establishing a successful business are Bill Gates (the founder of
Microsoft and the second richest person the world), Michael Dell
(The founder of Dell Computers), Mark Zukerberg (The Co founder
of facebook and the youngest Billionaire) and many more. Unlike
the S Quadrant, in the B Quadrant, you don't have to be the
smartest to succeed.
You just have to be smart enough to hire the smartest people in
your team. Success in the B quadrant it's not about what you know,
but it's about who you know. Here you build a system and hire the
smartest and best people to work for you. The more people you have,
the more money you make. That's why they say, "The A students
work for the C students and the B students work for the government."
That is not just a saying, but it is reality. Look around. The
richest people weren't the smartest in school.
4. Investing - There are 2 types of investors. Those who invest
because they have no money and those who invest because they
make a lot of money. Here I'm specifically talking about the
2nd group. The rich and wealthy generate a lot of money in their
businesses. The extra money they make, they invest in their
rich friend's business and earns a percentage of the profit.
That is why Bill Gates (2nd richest in the world) and Warren
Buffet (3rd richest in the world) are best friends and they
all invest into each others business. Here money works for you.
The company you invested in does all the work and generate income,
and you get a piece of that pie.
Which quadrant you lie and would prefer as the best source of income?
1. Employee - For generations parents have been giving the
following advice to their children, "Son, go to school,
get good grades and find a safe secure job. Save money and
buy a house."
We have been psychologically programmed by our society
to be work for someone else. To be independent.
The advantage of this quadrant is that you master what you have
studied for. For example you study medicine and work in a
hospital. You gain experience after some time and become good
at what you do. The disadvantage is if you want to earn more
money you have to exchange more time or expertise (like a master's
degree) to your boss.
2. Self Employed - This is the dream of many people. To own their
own small business. Most professionals like doctors (specialists),
lawyers, engineers fall under this quadrant. The advantage of
this quadrant is that you have control; you are your own boss.
There is no one above you to tell you what to do except
yourself. The disadvantage is that in order to earn money you
have to spend more time running your small business. So the
more money you earn, the less free time you have. When you're
sick or you travel, you make no or very little income for you as
the business cannot run without your presence. A good example
is a cardiac surgeon who starts his small cardiac surgery
hospital. For cardiac procedures to be done, he has to be there
otherwise he won't make any money. That's why Self Employed
people are so busy struggling trying to make ends meet. They
have very little or no free time.
3. Business - If you want to be financially free, then this is the
best quadrant to be in. This is where the majority of the
wealthiest people in the world are. But the surprising thing
is that more than 85% of the top entrepreneurs don't even have
a college degree. Examples of those who quit high school before
establishing a successful business are Bill Gates (the founder of
Microsoft and the second richest person the world), Michael Dell
(The founder of Dell Computers), Mark Zukerberg (The Co founder
of facebook and the youngest Billionaire) and many more. Unlike
the S Quadrant, in the B Quadrant, you don't have to be the
smartest to succeed.
You just have to be smart enough to hire the smartest people in
your team. Success in the B quadrant it's not about what you know,
but it's about who you know. Here you build a system and hire the
smartest and best people to work for you. The more people you have,
the more money you make. That's why they say, "The A students
work for the C students and the B students work for the government."
That is not just a saying, but it is reality. Look around. The
richest people weren't the smartest in school.
4. Investing - There are 2 types of investors. Those who invest
because they have no money and those who invest because they
make a lot of money. Here I'm specifically talking about the
2nd group. The rich and wealthy generate a lot of money in their
businesses. The extra money they make, they invest in their
rich friend's business and earns a percentage of the profit.
That is why Bill Gates (2nd richest in the world) and Warren
Buffet (3rd richest in the world) are best friends and they
all invest into each others business. Here money works for you.
The company you invested in does all the work and generate income,
and you get a piece of that pie.
