business talk

The Value of Creating Additional Income with Your Own Business

by The Hammer

The Value of Creating Additional Income with Your Own Business

In America, we are a part of a system that is designed to keep us broke and financially dependent on jobs beyond retirement age. In fact, most Americans over the age of 65 are dependent on family or public assistance or even worse still working. This is something that I do not understand, I thought the point of retirement was to discontinue your time as someone’s employee and start living your life on your terms. Unfortunately, this will not happen when people live "paycheck-to-paycheck" for well over 40 years and never diversify their income with anything that is viable.

Some people may beg to differ, but the job system in this country is not geared towards making anyone wealthy or giving them time to enjoy wealth. When people make a 6-figure income from their job and constantly say that they don’t have time for anything else (ex: family vacations, attending children’s activities), there is a problem. They may have a more impressive W-2 form than their high school classmates, but they have no more control over their lives.

Also, when a person is getting paid for a "full time" job and they still need to take a part time job on top of that just for survival, they have a problem. Perhaps I’m being naïve, but shouldn’t anything that occupies most of your time on a daily basis be a more than adequate source of income? Quite often, people find that this is not the case and they ultimately become victimized by organizational pyramids and politics that will withhold time and or finances from them.

People constantly switch jobs and move from place to place in search of more income. However, these higher salaries put them in higher tax brackets and inflation will negate those supposed cost of living increases. For some reason, people will move their families almost anywhere just for this.

This is prevalent in America with people of all occupations. Many white-collar professionals who would have you believe that they are among the rich and famous experience the same predicament. The combination of their suburban homes, luxury cars, and children’s educations leaves them in the mix with the rest of the population.

I’m not discrediting the professional world because there are many organizations that serve a worthy purpose and many people enjoy their jobs. The conflict comes in the fact that when one is an employee, they are seen as more of an expense than an asset and their job can be taken away at anytime. This reality creates great tension and anxiety in the workplace. Why would anyone want to deal with this for life?

There are ways for people to supplement their income. One method that is currently growing is private franchising. In private franchising, you receive the mentorship and training you need to build a profitable business. Much like anything else, there is a learning curve to owning a business but you would have access to successful entrepreneurs who seek to empower others. It is quite rare that wealthy people are willing to teach others how to accumulate wealth. In a corporate environment, not many active leaders will show you how to do their jobs because you just might absorb the information and become a threat to their position.

Private franchising encourages the concept of duplication, where after you learn the business you teach it to others who will ultimately teach their people and the cycle continues. This how you develop a growing organization from which you can receive willable residual income. A job cannot offer you this type of compensation and there will be no system in place where you do the work and a "superior" will always make more money than you.

The time that a person would put into a second job where they are being paid a pre-determined amount of money can be put into this type of business, where there is no ceiling on the money that you can earn. A fraction of the time that most people spend doing nothing productive can be put into building a strong private franchise. There are people from various professions (ex: medicine, law, engineering, business ownership, and education) who are building successful organizations that will enable them to surpass their full-time income and have more choices in life.

Private franchising does require some work but the best approach is to build your business when you don’t need it so that you can have it when you do need it. At some point, a job’s income may not be there and having your own business to fall back on will give you financial stability and less dependence on what an employer will pay you.If you would like more information about private franchising options, feel free to contact Hamilton Johns at (866) 610-9902 or by e-mail at hamjohns@bww.com

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