Almost everyone I know wants to put-up a business. However, only a few people actually do.
In most cases, people I have talked with know that putting up a business is one of the ways where they can be financially independent. What actually stops them from putting up their own business are the risks involved. But as the saying goes; the higher the risks, the bigger the rewards.
Unfortunately, we were not taught the rules of business. Even in business schools, there was hardly any mention of any rules of setting-up a successful business venture.
This is the first rule of business... businesses should earn.
There are some cases, however, that the business owner forgets that. If the business does not turn a profit, it is a non-profit organization that just helps individuals get jobs. This is not sustainable. Sooner or later, the organization will fold up if they don't earn enough money to meet the expenses.
Businesses are run and structured so that they will be able to earn money. The money earned should be used to grow the business further, meet the expenses (i.e. payroll, utilities, etc.) and pay the shareholders.
In most cases, people I have talked with know that putting up a business is one of the ways where they can be financially independent. What actually stops them from putting up their own business are the risks involved. But as the saying goes; the higher the risks, the bigger the rewards.
If only people would realize the business is a game then it a lot more people would be willing to take calculated risks. To succeed and become a winner in any game, one must know the rules and must be able to play by them,
Unfortunately, we were not taught the rules of business. Even in business schools, there was hardly any mention of any rules of setting-up a successful business venture.
This is the first rule of business... businesses should earn.
There are some cases, however, that the business owner forgets that. If the business does not turn a profit, it is a non-profit organization that just helps individuals get jobs. This is not sustainable. Sooner or later, the organization will fold up if they don't earn enough money to meet the expenses.
Businesses are run and structured so that they will be able to earn money. The money earned should be used to grow the business further, meet the expenses (i.e. payroll, utilities, etc.) and pay the shareholders.
Business = Profit
