Want To Be Rich? Don’t Start A Business.
When it comes to achieving financial success, starting a business is often seen as the ultimate path to wealth. Many people have the dream of becoming their own boss and creating a flourishing enterprise that brings in substantial profits. However, contrary to popular belief, starting a business may not always be the most direct route to riches.
Unquestionably, entrepreneurship has the potential to generate wealth and create opportunities for financial success. Countless success stories of self-made billionaires, such as Mark Zuckerberg or Jeff Bezos, have undoubtedly inspired aspiring entrepreneurs. Yet, it is essential to recognize that these exceptional cases of entrepreneurial triumph are the exception, not the rule.
The reality is that running a successful business requires significant time, effort, dedication, and a considerable amount of luck. The path to profit is rarely as smooth as the success stories might suggest. Starting a business involves numerous risks and challenges, such as fierce competition, regulatory hurdles, and financial uncertainties. These obstacles can rapidly erode one’s financial stability.
Furthermore, the statistics surrounding business failures are far from promising. According to the Small Business Administration, approximately 20% of new businesses fail within the first year, and roughly 50% fail within five years. These figures highlight the immense challenges and risks involved in running a business. If your primary goal is to be financially secure and accumulate wealth, it might be prudent to explore alternative avenues.
One such alternative is prudent investing. Investing, when done wisely, has the potential to yield significant long-term financial gains. By investing in diversified portfolios that include stocks, bonds, and real estate, individuals can benefit from compound interest and market growth over time. This approach can offer a more secure path to accumulating wealth compared to the uncertainties and high risks associated with starting a business.
Another option worth considering is focusing on advancing your career within a stable job or profession. Climbing the corporate ladder or gaining expertise in a specific field can lead to significant salary increases, bonuses, and other financial perks. By focusing on continuous learning, skill development, and engaging in strategic networking, one may have a better chance of experiencing financial success in a more predictable and secure manner.
Moreover, not all entrepreneurs are necessarily motivated by the sole desire for financial wealth. Many start businesses to pursue their passion, make a positive impact, or create products and services that benefit society. Fulfillment and personal satisfaction often play a more significant role in these cases than monetary gains alone. If your ambitions align more with personal satisfaction and contribution, starting a business may still be an excellent decision, regardless of financial outcomes.
Ultimately, no single path guarantees financial success or wealth. The decision of whether to start a business should not be solely based on the potential for riches. It is crucial to evaluate personal goals, risk appetite, and skills before embarking on any entrepreneurial endeavor. Whether choosing to invest wisely or focus on professional growth, individuals should make decisions that align with their aspirations and values rather than simply chasing the allure of vast riches.
In conclusion, starting a business does not always guarantee financial success or wealth. While entrepreneurship can lead to significant rewards, it also entails substantial risks and challenges that can lead to financial instability. Exploring alternative paths such as prudent investing or focusing on career advancement can offer a more secure path to accumulating wealth. Ultimately, the decision to start a business should be driven by personal goals and values rather than the allure of immense riches.
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Mark: "what if your passion doesn't have the ability to make you money?"
Me: cries in Artist
A one person business will always fail or there's a 10% chance of getting lucky.
With all respect, I learned the hard way that using your so-called natural “talents” or naturally “good at” backfires in so many ways and ultimately becomes toxic. I’m so glad to no longer do what others perceived that I was good at and I’m glad to be free from that unnecessary toxic slavery. It is as I learned – we may be natural talents at sex but that doesn’t mean we need to make a living as a prostitute or in the sex industry. I’m now free from it. I credit God for learning I don’t have to live like the opinions of ungodly people.
I'm so smart but have no one to bounce ideas off of….
Zrunnerselfrescuesystem Is My truth of height related scenarios…
#Zrunnerselfrescuesystem
9:35 that’s bull crap, your customers don’t know what they want that’s why you’re the professional not them.
starting is business is intensely difficult.
I didn't realize I was on the right track. Lots of truth in this video… businesses are dying for good people
This cat is trying to make money with YouTube videos
If you're a multi-millionaire why are you even doing YouTube
We come across as too dramatic
glad you to show this to us!thanks
Do something you love and enjoy
Impressive, i made $500k from multiple income streams with the help of my FA Susan Kay Mack, i hope this inspires someone to stop slacking off and save to invest for early retirement. Personally, i'd rather be in hawaii living off dividends with my husband than working the rest of my life when i could have invested in long term high yield etf's, as for me i have personal stake in APPL, TSLA, NVDA along with ABBV and KO when i focus on dividends. Goodluck
Saying having a bad attitude and leaving a minimum wage job that makes others millions/billions will affect your future performance in a real career is complete and total nonsense. Just bs.
Everything is saturated.
Instead of starting a business, buy an existing profitable business without using your own money nor taking any personal risk (either buy it with using asset backed finance, deferred payment or a combination of the two). That way, you can enjoy the cashflow without the time and headache of starting your own business. You can work on the business not in it: improve the business while other people take care of the day to day running of it. Then you can sell the business for a nice chunk of cash in 1 to 5 years as you see fit. Build up 5 or so businesses (that you buy) in your portfolio to spread the risk. Don't focus on small businesses – it's easier to get finance for bigger businesses actually, so shed the limiting beliefs. A bigger business will also allow you to make more money and delegate the running of the business to a management team etc. You can also buy distressed businesses, fix them up, enjoy the cashflow, then sell for a nice cashout.
Once you've made some money buying and selling businesses, you can invest money into property (real estate) and grow your wealth even further if you want to. Or keep buying and selling more businesses. Even one good business which you buy, improve then sell could make you enough to retire on and never work again if you choose to.
You're such an inspiration, Mark!!! I'm so greatly appreciative of you taking your time to make these videos, and thank you for doing so!
Wrong!!! All wrong
I ran an internet based small business for three years, it had all the potential to be better. It got so caught up in some serious technological issues and public opinion that the whole mission faded. It was a psychoeducation business that offered consulting, training, and public events to learn more about self-care!
To have skill is diffrent than to make money as people dont give you proper money even after skill
this guy pathetic
Anyone here Mark's last boss?
I'm gonna watch this video over and over and over and over again.
Finally! I found this video for the 2nd time and now I'll sub
Is the guy that owns model planes business
This guy is glazing himself so hard
I love the content, the only thing I have trouble understanding is the 80/20 fact, what do you mean by 80% of your results is 20% of your side hustle? Are you implying for us to strive to identify how we are getting that that 20 percent to 100 or something else?
so i could just put some informations online and when people order i ca let them just stay there even when im dont bought it ?
Shepherd's Chapel Network !!!!!!! Do you know where America is mentioned in the Bible ???????
This only works if the people are not absolute f witts. I have been targeted and taken down and abused, there is no return to this world for me. I can no longer see it and gangs rule Australia by subverting it.
thet most useless video
Ima follow my passion because it gives me purpose in life
what is the fonts in video?
1:26 that hits hard
Tremendous video! It is very important for any person to find something to strive for and fight for no matter what the circumstances. Once you set the right goal for yourself, making decisions will be easy and fun. What used to seem like an excruciating chore will turn into an enjoyable activity. Go where your labour will be needed! Go where there is money and where your work will be decently paid! Sooner or later you will have to co-operate with people of different nationalities and cultures. To make your business successful, you should learn a foreign language. I would like to recommend to you Yuriy Ivantsiv's workshop "Polyglot Notes. Practical tips on learning foreign language". This book will help you to structure and organise your individual language learning process, will give you the opportunity to independently determine the methodology of language learning, which will become interesting and unburdensome. In this amazing book everyone will find a lot of useful information: how to learn foreign languages, how to memorise information, how to deal with culture shock, what to pay attention to when travelling to another country. I am convinced that the book "Polyglot Notes" should be in the bag of every business person, school and college student, and tourist. The most important thing is that the book gives a good motivation. Don't be afraid to do something to realise your dreams! If people realised that fears have no connection with reality, everyone would live a much better life. Thanks to the author of the channel for the informative and useful video. Your videos motivate me and give me new ideas!
I'm in the club! XD Great technique to get people engaged.
Free market anarchy – i.e. capitalism – is a failure. The ONLY way to make money in this world, and the only way we SHOULD make money, is for government to create all businesses and manage the economy. Otherwise, government has NO right to punish anyone. Everybody is forced into the world without their consent by their selfish breeders. Therefore, nobody has any obligation to keep the status quo, or even the nation. Everybody is justified in rewriting the laws, WHICH INCLUDES LAWS/RULES ABOUT OWNERSHIP, to their liking. They SHOULD CHOOSE to make those new laws fair.
You lost me with the job stuff, knowing damn well jobs don’t care about employees. Hints why people don’t care
steps to be a rich
wow amazing!
can i marry you?
Such a great valuable information and creative too ,, Keep it up