Being an entrepreneur is about becoming a generalist, rather than a specialist.
A specialist is easily replaceable. A specialist is taught to follow. A specialist ends up working for a living, rather than living a life.
Generalists, on the other hand, think for themselves. They are great leaders, they take on risks and reap the rewards … And more importantly, they collect long-term income from the work they do today.
They also enjoy the profits, as well as so much more.
The generalist, the person I refer to as the entrepreneur, works today to make money for the long-term. They work to build wealth rather than make income.
Becoming a generalist is the first major task of anyone considering venturing into business for him or herself. This is the single biggest mindset change to make your business work.
I want to take you on a journey up the entrepreneurial ladder. This is the ladder you climb to create wealth through business.
The Entrepreneurial Ladder
You see, when I wrote my book, Billionaire in Training, I understood that people needed to see what is the road map to wealth.
We all start off as a student … and of course, as a student, we’re not actually making money. We’re costing money. We have to spend the money to go to school.
School is like an apprenticeship to become an employee. Being an employee is like an apprenticeship to your own business.
You want to have multiple different jobs in different areas … so you learn a bunch of things.
You want to learn sales, you want to learn marketing, you want to learn all the different aspects of business. So when you do go into business for yourself, you’re not the one having to learn it.
Now, once you become an employee and you have learned different areas through different jobs, you might start your own business or buy into a business and become self-employed.
The challenge is there’s still a lot to learn. It can feel like a seesaw…
Find the work, do the work, make the sale, do the work. Because what you’re doing is learning. You’re going to have to learn it when you start your own business. And that’s why it’s struggle at the start.
For most small businesses, the amount of knowledge you have to take on … sales, marketing, taxation, purchasing, you name it … it’s all on you. Eventually, as you succeed, you start to employ others and you move up to the manager level.
Now everyone’s asking you questions. Now they’re coming to you for answers. And sometimes it doesn’t feel like they work for you. It feels like you work for them.
In fact, it’s off the seesaw and on to the merry-go-round… Running round and round in circles, putting out fires.
Ultimately, though, you can step up to being the owner. You can build a business that works so you don’t have to.
My definition of a business is… A commercial profitable enterprise that works without you.
We’ve invested…We’ve built a business that works so we don’t have to do that. And that leads us to become an investor.
Trading time for money isn’t really where we want to be. We want to build that money up and then start investing.
There’s three categories of investments that we want to look towards:
- Real Estate
You want to learn all three because of the different cycles of the market. And when you learn all three, you set yourself up for success.
Now, the ultimate investor is the entrepreneur. The investor is buying investments with their money. An entrepreneur is creating investments, creating capital for others to invest into.
You see, if you can start this entrepreneurial ladder, you can build a business that works without you become an investor and ultimately an entrepreneur.
???Download the infographic so you can build a business that works without you, become an investor and ultimately an entrepreneur …???