Why You Need To Start Your Own Company TODAY!
- Andrew Veglas
- Jun 4, 2020
- 3 min read
Updated: Mar 4, 2021
As everyone knows, life isn't what you expect. The majority of people spend their lives trying to dodge the curve balls thrown at them.
When you're younger, you have hopes and dreams that one day you're going to be successful doing what you love. Unfortunately for most, that doesn't seem to come true. You end up getting a job once you graduate, get married, have kids and start piling on bad debt.
You hardly have the time to play golf, let alone start a business. You now have a family to support and they are expensive. You become risk adverse and try to make the best of your situation while hoping that one day, you will have the means to enjoy life to the fullest.
REALITY CHECK. THAT DAY WON'T COME.
The older you get, the less you're going to care about putting in the hard work and the more you care about just relaxing and enjoying life without the kids being home. Your friends will get a beach house and spending their days relaxing, while you still need to have a job to pay off your 30-year mortgage.
The sad thing is that everyone does the same thing. They wait until it is too late and look back regretting certain decisions that they made.
Whether you're 20 or 60, you need to set the rest of your life up for success. If you don't care about your life, do it for your kids or grandkids.
You see, setting up a business isn't as hard as it is made out to be.
All you need is a passion or a skill/knowledge, and use that skill/knowledge to fill a need, or find a solution to a problem.
It really is that simple.
Hypothetically speaking, lets say your profession is a police officer.
First, thank you for your service.
Secondly, although you will be retiring with a pension, that pension dies with you and is only one form of income.
You need to establish a way to create generational wealth and have another source of income for retirement.
The first is to use your skills and knowledge to fill a need.
Ideas if you're a police officer might be: you can create a private security company, a security consulting company, firearms training center, etc,
Now I know you're thinking "where am I going to get the time and money to do this?"
Well, there is no great answer. Life is about taking risks to move up. If you know there is a need that you can fill, then you should attack it, even if that means having late nights and working on the weekends.
My example is viable because everyone/every company has some sort of security need. There are thousands of retired police officers and military veterans who are looking for jobs. The internet has bridged the distance between people and places.
If there is a city in Texas with large corporations and an issue with crime, and you live in Massachusetts, you can start the company in Mass and hire out by each location. Essentially, each one of your 'employees' would be an independent contractor.
You can do all of the administrative work on your computer from home, and find potential customers, then you use Indeed.com or Monster.com to post a job advertisement to fill the position.
Your upfront cost are only to file as an LLC and maybe some marketing.
Once you start getting more and more customers, you scale your operations by reinvesting the earned capital and by utilizing debt to get an office and equipment.
Now you're earning $70,000/ year as a cop (I have no idea how true that is), and your company is earning you $250,000 in the first few years, and much more down the line.
The other great advantages of owning your own business are the tax benefits you have.
You can buy your vehicles through your company and write them off and some of their expenses on your taxes. Travel expenses for work, entertainment expenses (like taking a client to a Patriots game), All of or a percentage of those expenses can all be written off. There are so many other benefits aside from taxes.
This is a reality.
People do this everyday in every industry, and they become incredibly successful.
You just need to have the guts and drive to do it. It is possible for everyone and I promise you, it will change your life forever!
If you need help, contact us at Tritonexchange.com
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