Back in 1998, there was a fascinating book written by Thomas J. Stanley & William D. Danko called The Millionaire Next Door. The subtitle summed up the theme of the book “The Surprising Secrets of America’s Wealthy”. The book was considered to be the most comprehensive research ever conducted on who the wealthy are in America. The affluent were defined by having a net worth of at least 1 million dollars and not by how much income they earned. At the time the book was written, there had never been such an abundance of personal wealth in America, over $22 trillion!
However, that wealth was owned by only 3.5% of households. If you haven’t read the book, you would be surprised to learn that having a high income was not the best predictor of becoming wealthy. However, business ownership was. In fact, two thirds of all that wealth was owned by the self-employed. It is clear that, outside of a financial windfall from an inheritance or hitting the lottery, the most secure path to wealth was through business ownership.
People are waking up.
We should also note that money is not always the primary motivator for someone looking to start a part-time business from home. You might be familiar with Robert Kiyosaki, he is a multi-million dollar investor and probably best known for being the author of the #1 personal finance book of all time Rich Dad Poor Dad. In another one of his best sellers Business of the 21st Century, Kiyosaki points out that It’s not just about making a living; it’s about the quality of how we’re living. People are waking up to the fact that they want more control over their lives. We want to be more connected to our families, be in charge of our time & determine our destinies. Kiyosaki sites a poll from the Fresno Research firm Decipher, which found that 72% of all Americans would rather work for themselves and 67% of people think about quitting their job constantly. The #1 reason they gave for wanting to work for themselves was to be more passionate about their work life.
So whether it is about building wealth or having a better quality of life through passionate work…becoming a business owner makes sense.
What’s your number one reason for wanting to work for yourself? Share your thoughts in the comments below!”