Over the last few years we have heard about wealth-creation and business experts such as Brendan Nicholls and Robert Kiyosaki among many others; who have suggested that the right home based business, internet business or network marketing business can be an excellent business and wealth creation vehicle for generating a leveraged or residual income stream. Many of the experts then go onto suggest redirecting that money into other forms of investment; such as real estate, commodities or shares which in turn creates a compounding effect via the multiple streams of passive income.
Without a doubt, one of the greatest by-products of significant passive income streams is that it gives you the ability to be in control of how you spend your time. In my opinion, time is a far more valuable commodity than that of money. Now you may disagree here, but please listen to my logic! Time is something that we can only use once and once spent it is gone forever. Whereas once an entrepreneur understands how to implement income and wealth generation strategies than these can be applied almost at will to develop income-producing assets.
My personal standpoint
Personally one of my greatest fears would be to look back when I am 80 and evaluating my life and to only have a healthy financial balance sheet, and then realize that I have a major deficit on my lifestyle balance sheet. Given the limited time we have on this earth I think that most of us would prefer to spend as much as we can with our family and friends, travelling the world and or just experiencing the joys of what life has to offer without the stress of worrying about money.
Almost without exception when you are working for a corporation or in a job your application of time and efforts generally rewards others financially. Your time and efforts are bought at wholesale (what you are paid) and then effectively on-sold at retail (what you are worth to the organization through the results of your productivity). The result of your production is that of a retail profit which is more or less returned back to the business owner and shareholders in some way, whether it be in the form of a company profit or no dividend.
Unfortunately, the vast majority have not yet awoken to the fact that their lifetime of dedication to their job will never make them wealthy. More importantly, though they will never be in true control of how their effort or their time, and then they are hit with the realization that the vast majority of how they have spent their 4000 or so weeks on this planet has been at the mercy of someone else.
Own business equals 100% payment for your efforts without any discount
My objective here is simply to highlight that we do have a choice and that we do not have to spend the majority of our working life working! The years 20 to 60 are the time when many of us enjoy premium health and is when family and friends should take priority in our life, however for so many people across the world we invest roughly 70% of our time throughout these 40 years on doing something that we would rather than not be doing and that is making someone else wealthy through our endeavour and production.
Would you be open to looking at an alternative plan where you could spend 70 – 80% of your time in pursuit of your lifestyle and then spending just 20 – 30% of your time in doing something that earns you significant income and that you are passionate about. If so the answer you have been looking for is in the form of buying or building your own home based business or internet business.
So the good news is that a home-based business is endorsed by many wealth creation experts, as being a great vehicle to leverage your time, your money and your efforts. If you choose the right business vehicle; and then combine it with discipline and consistent applications, there is the potential that your home business opportunity can become a long-term way of generating substantial wealth. Certainly one of the most significant advantages of a home based business or internet business is that the majority of them can be started on a part-time basis; without having to give up the safety net of the income you earn from your job or self-employed business.