A mentor of mine, Jim Rohn, who I’ve been following for a couple of years now, uttered a phrase that caught my attention, more so than usual while studying him recently. He had such a strong and significant impact on me on the day that I heard him say “profits are better than wages. Wages will make you a living, profits can make you a fortune.”
I found the phrase sage like. I remember repeating what he said to myself and then thinking about how truly difficult it most likely is to get rich on just wages alone, and how readily profits can be made if we focus our efforts on accumulating them. It was a pretty outstanding moment of clarity for me, and I still get the goose bumps whenever I think about it!
Following that phrase, Jim Rohn went on to make a point about how profits can actually change your whole attitude, even if you start part-time. I really warmed up to his suggestion, and perhaps you will too, because he states that it doesn’t matter if it’s part-time on your entrepreneurial business, your network marketing company, or your service business.
To Jim it didn’t matter. To him it could be a real estate business, a tutoring business as a teacher, a website design business, a landscaping business in the summer, a consulting practice, woodworking, or a hobby, heck, he even goes so far as to mention a business of hanging Christmas lights in the winter. The magic he says, comes from the moment you start investing effort part-time into your own business, because it is then, that you will find how much more exciting it is to get up in the morning, look in the mirror, and go to work on your fortune, even if it is only a small portion of your schedule,… something like 10 – 15 hours per week.
How empowering would it be, to be able to go to work on your fortune every single day rather than going to work to just pay the rent or the bills? So you don’t get me or Jim wrong I will quote you some words directly from him when he says ” Now – it is noble to go to work to pay the rent, but if you could also parcel out part of your time – go to work to make your fortune. Your whole attitude changes; your spirit changes. It is in your voice. It is in your face. It is in your gestures. And then you can say, “I am now working full-time on my job and part-time on my fortune because I found a way to make profits.”
Wow….how amazing is that? Slightly magical isn’t it?!! What do you think on the idea of Wages Vs. Profits? Have you taken any steps to learn how you can make profits vs. wages? Are you teaching your kids these kinds of concepts? If not, why not?