A Business CANNOT be compared to a Job

A Business CANNOT be compared to a Job

Kim Daly Coach's Corner

If you’re comparing owning a business to having a job, let me stop you right there. There is NO comparison. Recently, a candidate said he was disappointed with this business after it being open for 6 months because while he wasn’t losing money, he wasn’t making money. I started biting my nails but said nothing. He went on to say how the company that had laid him off had since asked him back, and he took it because he could make way more money from that job, plus he got a company car, 401K matching and insurance benefits. I let him finish and then asked the following…

1. What happens when that company lays you off again? 2. How much equity are you building for the hours and compromises you will make to your family? 3. Why aren’t you using your car as a company car and getting tax deductions for gas and mileage? 4. Why aren’t you using the ROBS program so you can own that 401K program and instead of getting matching have the ability to leverage those funds to invest in your future and build a bigger nest egg?

THERE IS NO COMPARISON. He was right, and a business that is open for 6 months that is not losing money is AMAZING! We never said the business was an instant ATM machine. We said the business is a wealth generator because it produces cash, equity and tax shelters.

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