Business Concept 7: Differentiate Wealth Creation, Risk, and Uncertainty

Our 9th Business Concept every entrepreneur should know, is on Wealth Creation, Risk and Certainty.

Most wealth is created through a business opportunity combined with ownership.

In the process of entrepreneurship, wealth is created by building a business that has a profit and can be sold for a multiple of earnings (sounds like 'Richest Man in Babylon' language).

Both mental and monetary wealth is the end result of a successful entrepreneurial career.

A successful entrepreneurship career is well thought out and planned.

Being an entrepreneur without ownership is a nightmare-other people make the profit on your insights.

This happens when thought and positioning is not deliberately sought after.

The sooner an individual understands the difference between salary and profit, the better.

Ownership of future profits can be sold for a multiple of earnings.

Salaries and wages are compensation for work in the present, and hence are worth less than profits — which are projected into the future.

That is the major difference between income earned as a salary, and one earned as profits.

All investments take place in an uncertain world with risks.

Key Takeaway

Being an entrepreneur without ownership is a nightmare-other people make the profit on your insights.

The investment of resources to create a new business needs to be wisely balanced against the risk involved.

Millions of money sink on the alter of starting a business.

When in the wrong hands, money can burn like fire

The essence is to grow and multiply money.

If you do not have the skills and the expertise to start and run a business; please invest in other businesses, or in the money market

Do not burn money up in flames.

We continue on Monday.

Have an awesome weekend ahead!

'Mobolanle


You can't run a business without taking risks. The brave may not live forever - but the cautious do not live at all!

 Richard Branson

 Founder, Virgin Group

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By | 2018-05-30T23:07:32+01:00 May 14th, 2018|Blog, Grow your business, marketing, Start your business, startup, Uncategorized|Comments Off on Business Concept 7: Differentiate Wealth Creation, Risk, and Uncertainty