Chapter 9 Ownership and being an Entrepreneur
Perhaps it was the tremendous inequality that I saw in the modern day industrialist system and my continual disgust and attraction to the capitalist system that lead me on to studying the entrepreneurial system in great detail. I have learned that all sources of profit go to the owner. This is what made me want to use the system for myself. In
As owner, I am entitled to all profits from the company. I am also taking the greatest risks. Starting my own business will not be easy, but there is nothing else that I would rather do with my life right now. And the worst thing that could happen is I could fail, and I would not be in any worse condition them I already am in now.
As owner, I get to do what ever I want to do to make money. My personal interests are in house refinishing and furniture building. This is how I want to spend my laboring time for the next few years. After my business gets big enough, my job is going to change to running the company. I want to do this job for the rest of my life. Dealing with employees, making business deals, buying more assets and increasing profits and so on. First I have a hell of a lot of hard work ahead of me. I am 22 years old and there is nothing else that I would rather do then work on MY houses and building furniture to sell to my houses.
More to the point, I sure am not going to work for someone else, making them profits EVER AGAIN. I have to do this my self. All I have to do to do this is buy houses, finish them and furnish them. One-step at a time. This is explained more in section 3, every step of the way. I know what to do to do this and I am going to do it.
Example of working for profits, and risks.
If I build 80 beds, and nobody wants fully furnished rooms, I lose. However, if I can rent out the apartments and add the furniture to the rent over 2 years, I make:
10 houses, 8 bedrooms each.
80 beds x $100 each = $8,000
$8,000 in beds x 4 years = $16,000 profit
Much more risky then working at the mall, but much more profitable. Now I have assets too, which continue to make money for years to come.
Why work for some one else, doing something I don’t want to do, when I can work for myself doing something I like and making huge profits along the way. When I work for myself, I set my own hours, do what I want, I am my own boss, nobody telling me what to do. In addition, I make all the profits.
Why would I do anything else? This is my main reason for starting my own business. No wage job in the world can offer me what I am going to do for myself. I am going to make more then anyone ever could working for a wage. The only difference in the actual work is that I am not going to be paid by the hour. This is where most people get scared, so they are willing to work for $10 an hour. They are so used to making money every time they work, they when they start working without immediate pay, it seems weird. However, I am not working for free. I am not going to be paid right away, but I am going to make much more in the end. The proofs in Chapter one show that I can make $100/hr building my own furniture. And if I have my own houses to put the furniture in, they I do not have to worry about selling it. Also working for myself I get houses, cars, money and control over my own destiny.
It is my goal to acquire these assets. I want to own these moneymaking buildings as soon as possible. I want to own 10 moneymaking houses. I will buy 10 houses in the next 3 years, and I will furnish them all to make the most money I can. It is not my goal to make tons of money by exploiting my renters either. I am going to charge them a fair rent. My profits are going to come from my hard work. I want to put aphorisms on all the doors to all the apartments. This will add a little touch too all the apartments.
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