Pam Kennett is a Director of WealthBeing. Pam has first hand experience moving from employee to self employed to business owner. She is the founder and CEO of WealthBeing. WealthBeing is a wealth education and coaching company which helps individuals develop practical skills and knowledge to build their wealth.
Find out more by visiting http://www.wealthbeing.co.uk or contact Pam direct at mailto:pam@wealthbeing.co.uk
Copyright (c) 2007 WealthBeing
Cashflow Quadrant identifies four ways in which individuals can earn money: as an employee, as a self employed worker, business owner or investor. In Robert Kiyosaki's book, to be truly financially independent, people must operate as an investor and business owner rather than as an employee or self employed worker. This is because as a busines owner you are able to generate 'passive income' through your business, even when you are on holiday or taking a break. An employee has obvious tax disadvantages and a self employed person only earns money when working. Once they stop, so does the money.
Athough many recognise the potential in this argument, individuals will often choose to stay working as an employee, even in jobs they hate. Some of this is to do with fear of the unknown or their capacity to deal with risk. Being an employee feels more comfortable. They like to point out those business owners who have failed. The statistic that 9 out of 10 new businesses fail is enough to reinforce the message that being a business owner is hard work and full of risk.
There are many successful business owners and investors in the world
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