In Session #6 of ‘A Lifetime of Education in 52 Weeks,’ we dove into the crucial topics of self-employment and making money. Our focus was on understanding how money works and exploring self-employment as a viable path to wealth creation.
Recap: The Foundation of a Better Life
In Session #2, we established that life is a process—a continuous journey where the goal is to create a better life. The objective we’ve set is to get wealthy, and the primary action to achieve that is getting money. Our discussions have taken us through various strategies, including understanding rules, inflation, and investments. We’ve also touched on some religious considerations and boycotts, highlighting the complexities of wealth creation.
Applying What We’ve Learned
Now, we are moving from theory to practice. In recent sessions, we began applying what we’ve learned. We revisited our objective of getting wealthy and delved into different methods of obtaining money, focusing on employment. However, this session was all about a different path: self-employment.
Understanding Self-Employment: Individual and Corporate
Self-employment is an alternative way to get money, distinct from traditional employment. It involves taking on all the risk, equity, and responsibility yourself. Whether as an individual or through a corporate structure, self-employment requires a deep understanding of the market and a close connection to the end-user.
Self-Employment – Individual
When you’re self-employed as an individual, you are responsible for everything:
- Total Risk: You bear all the financial risks involved in your venture.
- Total Equity: You own all the equity, which can be rewarding but also comes with all the liabilities.
- Total Control: You have complete control over decisions, which means you call all the shots but also face the consequences.
- Total Responsibility: Every success and failure falls squarely on your shoulders.
- Market Knowledge: You need to understand the market thoroughly, as you are closest to the end-user who is paying for your product or service.
Self-Employment – Corporate
In a corporate self-employment scenario, things are a bit different:
- Shared Risk: The risk is distributed among the stakeholders.
- Shared Equity: Ownership is shared, which can dilute control but also spread out responsibilities.
- Limited Control: Decisions are made collectively, limiting individual control but potentially increasing collective wisdom.
- Shared Responsibility: The success and failure are shared, reducing the burden on any single person.
- Shared Market Knowledge: Market understanding is combined from various sources, potentially leading to better-informed decisions.
How Does Money-Making Work?
At its core, making money is about getting the end-user to part with their money. This is no easy task, and it requires a deep understanding of human psychology and market needs. Here’s how it breaks down:
- Provide Value: Whether as an individual or an organization, you must offer a product or service that has value to society.
- Employing Talent: Employment involves using people’s skills, experience, and time to create that product or service.
- Self-Employment: Self-employment combines all these elements, but with you at the helm, taking on all the risks and rewards.
The Challenge of Getting Paid
No matter the method, making money ultimately comes down to convincing someone to give you their hard-earned cash. Here are some strategies:
- Give People What They Want: If you can offer something people truly desire, they will pay for it, sometimes even more than it’s worth.
- Give People What They Need: If your product or service fulfills a real need, people will pay for it out of necessity.
- Make Them Think They Need or Want It: This is a common strategy, particularly in marketing. Many businesses thrive by convincing consumers that they need or want something, even if they initially didn’t.
Rogue Institutions and the Role of Common Sense
During our discussion, we also touched on the concept of rogue institutions—organizations whose purposes do not align with their stated goals. These entities often mislead and deceive the public, prioritizing profits over people’s best interests.
At LifeBahn Global S.L., our mission is to create institutions that avoid these pitfalls. We emphasize the importance of reconnecting with common sense, allowing us to make independent, smart decisions.
Conclusion: Building a Better Future Together
These sessions are designed to empower you with knowledge and practical insights. As we continue this journey, our goal is to help you build a better life—whether through self-employment, traditional employment, or any other path you choose. Remember, collaboration, not competition, is the key to success for many.
It is time for the truth and real education – GREAT@ education, about the facts of life !!
On www.youtube.com/@lifebah ‘a lifetime of education in 52 weeks “ an education continuum, helping to make a better life for our families and our future generations.
Autobahn — Road for Automobiles.
LifeBahn —- Road for life. Built on the simple principle.
While competition is a good way to succeed for a FEW,
collaboration is a BETTER way to succeed for MANY.
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