To earn money, we must be an employee, self-employed, employer or investor. Of course, we can be a few of these at the same time. We mentioned about that. Let’s look at these four ways to make money in more detail. Thus, we will see the characteristics of the people who tend to take each path.
Employee
When I hear the words “assurance” or “side income,” I get an idea of who the person is actually speaking. The word “assurance” is a sign of fear. There are many who hate the fear that comes with economic uncertainty. Employees frequently use the concept of assurance when they are afraid.
The concept of “side income” refers to a defined additional income besides the wage received, such as a health plan or individual pension. The important thing here is the desire of employees to feel safe and to see something on the document. Uncertainty doesn’t make them happy; they seek certainty. They say, “I’ll give you this… but in return, promise to give me that.”
Employees want to reduce their fears. They want assurance and solid agreements when it comes to employment. When they say “Money doesn’t concern me.” they say it right.
For them, assurance is more important than money.
Employees can be senior managers or janitors. It doesn’t matter what they do, what matters is the employment contract they signed with the institution they work for.
Self-employed
These are those who want to “be their own boss” or “do their own business.”
They’re tight when it comes to money, and they don’t like their income dependent on others. If a self-employed person works hard, they want to pay off. They do not like to be determined by someone else or someone who does not work as hard as they do. If they work well, pay them. No, if they don’t do their job well, they will understand that they have to get as much as they deserve. They have a completely independent spirit when it comes to money.
This group includes well-educated “professionals” such as doctors and lawyers who have spent their years studying.
Most self-employed people are perfectionists. They want their work to be very good. According to them, nobody but themselves can do the best. They don’t believe that no one can do a job the way they want to. These people are artists in their own field and they do their work in their own way.
That’s why we become their customers. For example, you will go to a dentist, you want her to be well trained and experienced in her field. But more importantly, you pay attention to her being a perfectionist. You show the same care for hairdressers, marketing consultants, plumbers, electricians, lawyers or trainers. Whichever self-employed you need, you look for the best in the field.
It is not easy for these people to find someone to work with, because they do not believe that there is someone who will do the job better than they do. It is not easy for these people to find someone to work with, because they do not believe that there is someone who will do the job better than they do. “I cannot find a suitable colleague to recruit,” they often complain.
They train someone and teach the business. Most of the time, the trained employee quits the job to “do his own job”, “to be his own boss” and “to go his own way”.
Employer
They can do almost anything that self-employed people do not. Real employers hire people from all four categories for their business. Unlike self-employed people who do not like to distribute work to others because they don’t think that anyone but themselves will do the job the best, real employers love to share work. The motto of these people may be “Why should I do it when I can have someone else do it?”.
Henry Ford, for example, is one such person. It is said that a group of intellectuals accused him of being ignorant. They claim that Ford is “unaware” of the world. Then Ford invites them to his office and tells them to ask him questions. Thus, these intellectuals begin to pose questions to America’s most powerful industrialist. After listening carefully to the questions, Ford reaches for the phones on his desk and calls one of his smartest assistants inside, asking him to answer the questions. At the end of the panel, he tells his guests that he is hiring smart, educated people so that he can devote time to more important tasks. His more important task is “thinking.”
Self-employed people own a business, whereas employers own the system they have set up and employ people who are qualified to run that system. Most of the time, self-employed people can’t leave their jobs. When they want to take a vacation, their income must also go on vacation. This is an important difference between self-employed people and employers. Employers can take a vacation whenever they want, thanks to the systems. When they go on vacation, the flow of money continues.
The requirements to be a successful employer can be summarized as follows:
a. Owning or controlling the system;
b. Leading people.
Investor
Investors make money from money. They don’t have to work because their money works instead.
This way is the playground of the rich. Whichever way one earns money, if one day aims to get rich, sooner or later he has to choose the investment path. This is the only way where money can be converted into wealth. And the great thing about all of this is that it is possible and easy for anyone, whether poor, middle-class or rich, to choose this path.
I recommend you to read my THE KEY TO BEING A SUCCESSFUL INVESTOR post. You may also read THE FIRST RULE OF GETTING RICH if you are interested in investing.
Here are some other posts related with investing:
- MAKE YOUR INVESTMENTS TO EARN
- WHY YOU NEED TO INCREASE YOUR FINANCIAL IQ
- DON’T WORK TOO HARD -WORK FOR YOURSELF
- YOU NEED TO SAVE MONEY
- WHY ACCOUNTING KNOWLEDGE IS NEEDED
Would you like to have a look at my latest posts?
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