Having a business doesn't give you more freedom it gives you a bit of flexibility... Having to keep track of your employees , lincences, permit's ect can get very busy the more you grow. You can't just let it run on it's own and trust your employees will handle it you need to physically be on top of all
You can have a business and outsource most of the operations to another company like Nike does or in the case of having employees, hire a competent CEO to stay on top of it. When the owner of my McDonald's starting to expand and own more stores, he eventually hired someone to oversee all of them. This gave the owner more time to developing relationships with City Council, Chamber of Commerce and local non-profits to develop Goodwill which eventually would lead his company more profitable through sales, and tax savings.
I love how it's just you need to be here in B an I quad. 99 percent of ppl don't have the connections to just be in B quad. You start as an employee, you make a decision to make your own job to open opportunities an build a brand an build finance to position yourself to get to the B quad whitch then positions you to an investor. I'd love to see this blue print of how you go from working at taco Bell to B quad. What taco Bell systems need put in place to get into B quad?
I think that from a taco bell employees standpoint. First step should be knowledge and understanding of cash flow. And its important to learn certain basic things like R.O.I. Starting a lawn care business in my opinion is great way to jump from E to S then as you get guys running routes you'll learn that each route is an asset. Keep building assets hope that helps out
@@davidpadilla6098 I can agree with that. That's how people should be thinking unfortunitly where I'm from very very very few have this mentality it's pretty sad actully I can't even have conversations with people 20 years older than me because they have no clue what I'm talking about the system was built to turn humans in a workforce for them man did they ever do a good job it's wild to see things differnt and be on the outside looking in
@@davidpadilla6098 I feel you and it's their lost. This is the very reason why Mark Cuban thinks Gen Z will be the most successful generation cause they a ton of information about starting a business at their finger prints ie Smartphones.
Thanks for the info. To each is own, I personally prefer being self employed and dont care to grow more into a million dollar business. I work when I want and dont when I dont and make a decent living.
This is very good information. I heard this for years but just recently it clicked! Focus on systems and don't get caught up in making your business too complicated. Focus on getting the right people to free up your time in what ever field you are in. The perfect example is a property management company. Shout out to lawncare millionaire And Robert kiyosaki. Thank you for posting this video!
David Padilla he unfortunately passed away here is the link www.google.com/amp/s/www.dignitymemorial.com/obituaries/dallas-tx/frank-rumbauskas-8024606 His blog is still alive nevercoldcall.typepad.com his book changed my life!
I'm self employed, an want my contractor to let me run my own taxes and run my trade name an be the only worker of my own business keep the same rates an let the the principal still have all the rights I just want to be my own boss legally? Is this better, I believe so as I can pay my own drawings keep my total annual income tax low an pump all my profit Into assets? Is this a good idea 💡 🤔, I want to buy a house an I think some how I can run it under the business,I'm in new Zealand is well any advice would be great 👍
22-05-2021 Bangalore India Your effort is good in presentation. You can improve your presentation as under:- Everyone supplies at least one factor of production to another and earns money income as a REWARD. 1) Everyone earns income (money income ) by being employed; or self employed or elected by voting. 2) Person employed: He is an employee. He gets salary / wages for the work done. An employee supplies labour/effort/skill and time to the employer and gets salary as reward. 3) A self employed is a owner as well as employee. He supplies labour and capital (at least two factors of production). He earns salalry and interest / profit. Eg: An auto driver. Drives an auto (self employed) - one factor of production. Drives auto as a paid service to passengers. I will details if you respond to me for details. With regards, - Nagaraj TV Bangalore India Retired Manager.
