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Everybody Starts Their Own Business

Discussion in 'General Mindset, Motivation, Beliefs' started by RichieG, Nov 30, 2018.

  1. RichieG
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    RichieG Contributor

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    I have always been a believer that everyone should attempt to own their own business. However, the more i think about this the more I think is it possible. Do some people need to be "workers"?

    Lets say there are 100 people in the world ( all adults ) who own their own business. We rank these people in what they earn. The person who is ranked 100th actually loses money. So needs money. The most profitable business then offer him a job which he has to take. There are 99 business owners and 1 worker. This process continues until there are 10 businesses and 90 workers. How can this cycle be ended? Can it? Or do some people need to be workers?

    The 2nd point based around this is we need "service people". If we want everyone to own their own business how do we get Firemen, Poice Officers, Doctors etc.How do people do this if the theory is for everyone to own their own business?

    I hope I have explained that well and people understand the point I am trying to make.

    Is it a case of raising above the masses and make your business profitable and not resting on your laurels so you have to become an employee again? Does this help drive the economy?
     
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  2. Blu H
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    Blu H Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    I truly believe things would simply go back to... exactly how they are now! I've been around some folks who simply love the 9-5 life & the "security" it offers. Also being your own boss implies indirectly becoming a salesman... and some peeps have nausea just thinking about it
     
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  3. Envision
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    Envision Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    Thats because the statement everybody needs to start their own business isnt true. And the odds of becoming a successful entrepreneur are extraordinarily low.

    Some people start out working jobs they gain experience, understand needs, and maybe if they have entreprenuerial tendencies go out on their own and start a business.

    Others are born selling shit from the time they come out of the womb.

    The vast majority need the structure and stability a job provides, the propaganda that everyone needs to start a business isnt true and for a lot of people it doesnt even make sense. If you're making 80k+ a year and you're happy as a plumber, electrician, doctor, salesman, investment banker, accountant, etc... and you have a family and obligations to support - the risk of starting a business is even higher and the incentive is not there.

    They dont need to be workers, they want to be. If they didnt want to be and hated it enough to change - they would do something else.
     
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  4. minivanman
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    minivanman Platinum Contributor Speedway Pass

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    My wife is a worker. Has NO interest at all in starting a business and can NOT get her to retire. She loves her job. There are people at the museum where she works that has been there since the 1970's. When she worked at the Metropolitan Museum of Art she said people spent their whole life working at that 1 place.
     
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  5. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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  6. GoGetter24
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    GoGetter24 Gold Contributor Speedway Pass

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    Short answer: no, everyone can't start their own business.

    This is due to economies of scale. So long as Microsofts and Wallmarts exist, it's logically impossible that everyone can be a businessman. Most people will always be workers.

    There is an equilibrium level between owners (businessmen) and servants (employees). As more servants attempt to become owners, it bids up the cost of capital, economies of scale weigh them down due to capital limitations, and wages rise. This in turn encourages people to go back to employment.

    In a way, being a businessman is a form of social rank. Only about 10% of the population could feasibly be businessmen at any given time, and it's very hard to enter that group and stay there (consistent with the 1-in-10 business success rule).

    Sole proprietorships are, however, the most common form of business. E.g. in 2008 US, there were 22M sole props, 3M partnerships, and 6M corporations (again: total of those numbers is around 10% of population).

    In a world where everyone is a businessman, this would mean they're sole props, or partners, or CEOs/directors in corporations (depending on where you draw the line at 'businessman'). The only way that could be possible is:
    • Far higher levels of specialization fan-out -- which would necessitate complete overhaul of education culture.
    • Far more rapid attainment of mastery -- again, education overhaul.
    • Far more partnerships. There has been some movements to encourage this in the form of "LLPs" (limited liability partnerships) in several countries relatively recently.
    • Far more efficient streamlining of overheads, i.e. legal/accounting/financial/reporting&tax -- the world is generally moving in this direction due to digitization (but interestingly -- businesses that provide these kinds of services are the most common sources of partnerships, so it may not have a net businessman-producing effect). All of these overheads eat into people's ability to focus on their specialization.
    But as mentioned, most people want nothing to do with business. They want a straightforward, easy life; and to live for the weekend. That's fine. It's just not for us.
     
    Last edited: Nov 30, 2018
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  7. Sebastya
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    Sebastya Bronze Contributor

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    Exactly. It's similar to saying everyone can be a famous singer/actor/athlete.
     
  8. Megan Kay
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    Megan Kay Contributor Read Millionaire Fastlane

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    My husband is the same way. I think there's a place where everyone fits in and for most people, that's in a structured work environment.
     
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  9. socaldude
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    socaldude Platinum Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    You can say the same thing about the college bubble.

    If everybody goes to college then who is gonna start businesses or become plumbers etc?

    The same reason all of these businesses you talked about failed is the same reason why college grads fail. The underlying assumption was that they deserved money just by virtue of existing. And economics doesn't work that way. It's cold and heartless because consumers are selfish and penny pinchers. Economics does a pretty good job of weeding out inefficiencies of resources.
     
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  10. Xeon
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    Xeon All Cars Kneel Before Pagani. Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    If everyone is a businessman and everyone adopts fastlane thinking, there would be no fastlane or rich/successful people.
     
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  11. ruzara5
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    ruzara5 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Interesting. No this is not the case. One instance is that some people choose a job. A fastlaner in the making. Probably started with a job that you 'hate'. Possibly applied a CENTs based approach to a 'problem'. Keeping this short. They changed the lives and impacted the market. Possibly en masse. No you do not have to become a 'employee again'. That is what does happen when you enrich others lives. Comparing to that classic tiny ripple effect in the big puddle. It touches on all shores. Cheers.
     
  12. Pedro Henrique
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    Pedro Henrique Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    There are people who simply cannt be an entrepreneur. And that is because they dont have ability (which can be learned, but for any reason they wont) or a mental deficiency (this fact, in most cases, cannt be changed). Moreover, exists jobs that are essential to our lives.

    Enviado de meu Moto G (5) usando Tapatalk
     
  13. minivanman
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    minivanman Platinum Contributor Speedway Pass

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    I have this with a job.... no ability/ mental deficiency.
     
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