Why do hundreds of people chuck in their job every day\nto journey down the road to become self-employed?<\/p>\n\n\n\n
In the vast majority of cases, it’s to escape the\nincome trap a normal worker-boss relationship perpetuates – i.e. if you stay a\n“worker” then you stay in this one-to-one relationship that exists\nbetween worker and boss, where you exchange your skills and effort in return\nfor a fixed wage every week.<\/p>\n\n\n\n
The only way you can get money is to come back and do the same things all over again next week… or maybe do a little more work to get a little more pay.<\/strong><\/p>\n\n\n\n This linear relationship – you work<\/strong>, and then get paid<\/strong> – fixes your income. It commits you to a life of “more of the same”<\/strong> week in and week out, and never really provides the extra needed to escape this cycle.<\/p>\n\n\n\n Now since the “boss<\/strong>” appears to be the winner here, the theory is that becoming your own boss is the first step on the road to wealth.<\/p>\n\n\n\n But is it really?<\/strong><\/p>\n\n\n\n When you think of someone who is self-employed, whom\ndo you think of?<\/p>\n\n\n\n Do you think of trades people like a plumber or\nmechanic? Perhaps you think of a shopkeeper or take-away shop owner?<\/p>\n\n\n\n Have these self-employed people escaped the linear\nincome trap and put themselves on the road to wealth?<\/p>\n\n\n\n No<\/strong>! They are still earning a linear income, because they only make money once from each person they sell or provide a service to.<\/p>\n\n\n\n While they can maybe earn more than they could as a worker, it does come with the added costs of working longer hours, extra responsibility, and financial liability.<\/p>\n\n\n\n And their income potential is still limited because they can only work for a fixed number of hours.<\/p>\n\n\n\n When seeking out self-employment opportunities, avoid\nthose that revolve around linear income where you repeatedly do the same tasks\nin order to earn an income.<\/p>\n\n\n\n Instead, locate those opportunities that allow you to\nbuild residual (or passive) income.<\/p>\n\n\n\n While these do take some effort to set up initially,\nonly a little maintenance is needed once underway to keep the income flowing\nin.<\/p>\n\n\n\n And what are you doing while it’s earning money?<\/strong><\/p>\n\n\n\n If you are smart, you are looking to find and build\nanother opportunity to generate recurring, long-term income for you, while you\nsleep, when you are on holiday, or even after you’ve retired!<\/p>\n\n\n\n Whatever you do as a self employed person; you will\nhave to work hard at it to make it work.<\/p>\n\n\n\n But think smarter as well… Chase passive, residual\nincome, and wealth is a lot easier to build.<\/p>\n","protected":false},"excerpt":{"rendered":" Why do hundreds of people chuck in their job every day to journey down the road to become self-employed? In the vast majority of cases, it’s to escape the income trap a normal worker-boss relationship perpetuates – i.e. if you stay a “worker” then you stay in this one-to-one relationship that exists between worker and […]<\/p>\n","protected":false},"author":2,"featured_media":9042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":""},"categories":[40],"tags":[97,96,98],"yoast_head":"\n