T. Harv Eker explains why owning a business is his top rule for building wealth. The key difference: a business has no ceiling on what you can earn, while a job locks you into a fixed salary.
What I especially like about owning your own business is that you have put yourself in a position where creating wealth is at least possible. Now think of it this way. You know tennis, everyone's watched tennis, played tennis, whatever. But if you're playing tennis and the ball is way, way over here, way over here, okay. So the first thing you have to do if you're going to hit the ball is if you're way over there, you've got to get yourself in position to be able to hit the ball. You can't hit a good shot from way back over there. There's no way. It's the same as well, you have to give yourself a chance. And your best chance comes with your own business. You know the research show, it shows that 90% of all self made millionaires did it in their own business. Why? Well, let me tell you why. Because what I call wealth rule number one. Make sure you memorize this. You, you write this down. You, you print it on your forehead on your mirror. Wealth rule number one. And here it is. No limits on your income. I will repeat that. No limits on your income. Here's the problem. If you are in a job or you get paid a set size salary or even any situation where you get paid by the hour, that means you are being paid for your what? Your time. And of course, here's the challenge. There's only 24 hours in the day. And since time and your time is limited, your income becomes what? Limited. And you've broken the most important rule of wealth. Again, no limits on your income.
