Why You Should Own Businesses

This is why I have businesses...and why I believe you should too.

First, I believe the true path to wealth and financial freedom lies in entrepreneurship. If you aren't thinking about starting a business now, you should be for your own future.

Starting and operating my own business has unlocked a world of opportunities that simply make me a better person. I have a duty to fight for a profitable business because of what entrepreneurship has offered me.

I don't have that same feeling being an employee of someone else.

So, why do I do it. There are three primary and very practical reasons why anyone should be a business owner. And a variety of super touchey-feeley reasons why people say they want to be business owners.

Let's stick to the practical: it's about money.

Yes, I know. I've said it before. Owning a business is not always about the money.

But money certainly should be a priority to keep your business running.

It's the oxygen your business needs to keep going.

To provide for your community.

To provide for your employees.

To provide for your future.

Here are the top 3 very practical and money-focused reasons why people like me start businesses, and what every potential business owner should focus on.

1. To Generate Income for You and Your Legacy:

Owning a business gives you the power to generate multiple income streams and steadily accumulate wealth over time. Offering products or services that solve real life needs can earn profits that directly contribute to your net worth and long-term financial growth. Why else would you do it? Business is risk for reward.

2. To Create and Grow Assets:

As an entrepreneur, you're not just earning a paycheck – you're creating and growing a valuable asset that contributes to the economy. As your business becomes more profitable and its equity increases, your personal net worth appreciates right along with it. This is how you build real, tangible wealth that lasts. And, it's why business owners have a higher net worth than a lot of high paid employees.

3. To Leverage Tax Strategies:

One of the biggest advantages of business ownership is the ability to legally minimize your tax burden through strategic tax planning. From income shifting to expense deductions and tax credits, you can leverage a range of strategies that you can't do with your job. This is probably the most overlooked reason, yet has a huge upside financially.

Look, I get it – people start businesses for the passion or the desire to make a difference (the touchey-feeley).

But, if you're not focused on these practical wealth-building strategies, you're missing out on the true financial power of entrepreneurship. Why take the risk if you don't get the financial reward?

Building a successful business is about creating value, generating income, growing assets, and maximizing wealth through smart tax planning.

That's how you achieve real financial freedom and security.

It's practical and powerful, and you should be doing it too.

Set up a time to talk with me about starting your own business: bit.ly/schedulecindy.

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