Unearthing One of Life’s Most Valuable Assets
When you get immersed in your career as an employee, you tend to overlook one of your life’s most valuable assets.
Most North Americans work for someone else as their way to a life of financial and benefit security.
Historically from 1989 to the present day, the number of folks working as employees is over 90% of the North American workforce.
What is also interesting is the largest segment of the self-employed folks is over the age of 45. I don’t think this comes as a surprise to most people over the age of 45; at some point, we all become a little-dissatisfied working 9 to 5 for companies who are not always engaged in our long term job satisfaction or job security.
The Employment Route
As an employee you have someone else handle the deposit of your salary, they deduct your government contributions to Social Security, Old Age Security, CPP, workmen’s compensation, possibly some variation of medical and dental benefits, and company pension.
The funds left over after the government and your employer have taken their share is your net income.
Net Income is a term often used as a measurement of business success. Why don’t we use it more in measuring our financial success?
According to Investor Words:
For an individual, gross income minus taxes, allowances, and deductions. An individual’s net income is used to determine how much income tax is owed. (remember your income taxes are taken off your paycheque before you see the money deposited into your account)
One of Life’s Treasures
At some point in your career road, you will hit a few bumps, and you might want to join the ranks of the self-employed. What can you do during your time as an employee to give your self a chance at other options?
Think of Yourself as a Business
Thinking of yourself as a business when it comes to personal finance and personal well-being is a method that can help you build a strong financial foundation, unlock sustainable wealth and create a living legacy.
Everything we do in life should be built to realize a return on our money and time invested into anything we do. We should be looking to create a profit for our personal well being; mental and physical, for our family, community and work.
Giving thought to a return on everything you do would help create a purpose to your entire life.
Do you have a purpose to any or all of these areas of your life?
Are you feeling frustrated with your well being, family, community or work?
If you start to think of yourself as a business the moment you start your career or the moment you read my blog; it is never too early or too late to start thinking about yourself as a business.
It has been said that the mission of business should fill that need the customers want; I agree with this, but it is half the truth, you need to supply your wants.
Filling your wishes is why I challenge and encourage you to think of yourself as a business.
As an employee, your employer has asked you to think of the people you serve which may include your employer first and customers second.
The great companies always think of the customer first, and their company’s need second.
Because I am encouraging you to think of yourself as a business; I also challenge you to think of yourself as your first customer. Without any question; serving yourself first will help ensure your mental and physical health including your financial well being are taken care of.
Once you have taken care of yourself first; you will be able to be more successful in serving others, and this will only grow your success.
Most successful businesses have a mission statement which summarized as one sentence.
Your mission statement describes what you do for yourself and what makes you unique to others.
Can you write your mission statement for you as a business? How will it read?