This is the eighth article in a 10-part series for recruiting professionals and entrepreneurs who are interested in joining the Lakeshore platform. To read the previous seven articles and learn more about this and other reasons to join Lakeshore, you can visit our series homepage.
One of the main concerns with starting a business is financial instability. Entrepreneurs often worry that they will struggle and not be able to support their families. But what if you could do just the opposite? Build a business that supports your family, not just now, but for the rest of your life.
Well, what are you waiting for? Get going now and don’t wait around and let your life, and your finances, pass you by. It’s important to lay a good foundation for yourself and your family as early as possible.
By building a business that supports you and your family early on, you set yourself up to have the financial security for the rest of your life and are able to take advantage of things like compounding interest (earning interest on your interest). That means that whether you’re saving for retirement or a new house or your kids to go to college, the sooner you put some money into solid savings, the more that money grows over time. It’s literally the difference between making money and making a fortune.
But how do you even begin to build this business? With the skills, knowledge and experience that you already have. These are your biggest assets. And your business future is the most important factor in achieving financial independence and security.
For those just entertaining the idea of owning their own business, consider this: the future entrepreneurship is as bright as ever. And the sooner you start building your business the sooner you can also start building a financial legacy for your family. And those who are in a position to take advantage of these opportunities will benefit the most.
Look at yourself as a financial asset. Investing in yourself and your business will pay off in the future. Increase your value through hard work, continual upgrading of skills and knowledge, and making smart career choices. Entrepreneurship can have a far bigger impact on your financial security than tightening your belt and trying to save more.