Think of establishing your own Business

[Somali2003]

I think this is a very important personal consideration in regards to your social mobility. You will never get ahead if you work for a company unless you are a distinguished scientist or have a major stake in that company.

For example, “The top 300,000 income earners in America,” former Senator John Edwards once said, “now make more than the bottom 150 million combined.”

Do you see why the gap between the rich and the poor widens every day? Economists and politicians have concluded that the middle class is no longer sustainable. In 20 years time, there will be no such middle class. You will either be a POOR or RICH. But who really wants to be Poor? None.

If I give you a practical example of how this income disparity has evolved ever since, let us say that you are an executive of major company. You believe in the profit motive and your main goal is to maximize the profits of your company as an incentive to both of your bonus thing and investors.

You are therefore dealing with the model that Revenue minus Expenses totals profit. To increase your revenue, you have to lower your expenses. As an employee, you should know that you fall under the overhead expenses of the company. So for someone who is control of the company, will he let you increase his EXPENSES?

Hell NO. Think of it.

[Basra-]

OK... Mr. Independent Rich guy-- r u looking for a wife?

[Somali2003]

No, but I want to encourage my fellow countrymen to be a successful entrepreneurs.

[Koronto91]

Starting a business is easier said than done. Eventhough the idea sounds very appealing, there are many obstacles that must be overcome. Opening a business is a risky move and most people know this, that is why they would rather work for someone than work for themselves, because of lack of confidence or fear of loosing it all.

[Bagamundo]

:

[Basra-]

Koronto

Maybe u should start with your name, and go from there.Change it, and dress to impress also. Opening a business is a good idea, prophet Muhammad PBUH had blessed busines. As to Somali2003 idea of lowerings ones expenses, thats ludicrous.I only live once and that one time must be exorbitant and luxirous not to mention, glamorous.

[Koronto91]

Basra,

What's wrong with my name? I thought you liked it?

I have owned my own business and speak from experience. I know the benefits and the hardships a business owner faces. Nevertheless, no one should be detered from opening their own business.

Just make sure you do your homework, before you start any venture.

[FAH1223]

[quote="Koronto91"]Basra,

What's wrong with my name? I thought you liked it?

I have owned my own business and speak from experience. I know the benefits and the hardships a business owner faces. Nevertheless, no one should be detered from opening their own business.

Just make sure you do your homework, before you start any venture.[/quote]

how was it?

[Basra-]

Koronto i love the 'idea' of your name but not essentially the name itself. Its sounds, catchy, authentic , very Somaliish, but i wouldn't want to be caught with it on my driving licence or something! Know what i mean?

[Koronto91]

[quote="FAH1223"]how was it?[/quote]

It was one FANTASTIC joy ride. At first, it was very exihilarating, exciting, intoxicating, but by the time I caught up with things, it became exhausting.

I made the mistake of having a partner and of not doing enough research.

In the end, we split, I got my investment and he sold the business.

[Koronto91]

[quote="Basra-"]Koronto i love the 'idea' of your name but not essentially the name itself. Its sounds, catchy, authentic , very Somaliish, but i wouldn't want to be caught with it on my driving licence or something! Know what i mean? [/quote]

[FAH1223]

koronto, what type of business?

[Somali2003]

Koronto, you have to be a risk taker. Otherwise, you won't make it to the top.

What you think of the 300,000 people that make as much money as the rest of 150,000000 people in the United States. They are business owners and the form of business they adopt mostly is either Partnership or S-Corporation, or LLC, all of which have limited life unlike the Corporation which has unlimited life and easy transfer of ownership.

Let us be a risk taker.

[Spragga Benz]

[quote="Somali2003"]Let us be a risk taker.[/quote]


You start.

[Somali2003]

I already did and I am on the move of making it a successful one.