Professional Documents
Culture Documents
Build or Buy Equity in a Business
Build or Buy Equity in a Business
It’s ownership versus wage work. If you are paid for rent-
ing out your time, even lawyers and doctors, you can make
some money, but you’re not going to make the money that
gives you financial freedom. You’re not going to have passive
income where a business is earning for you while you are on
vacation. [10]
If you look at even doctors who get rich (like really rich), it’s
because they open a business. They open a private practice.
The private practice builds a brand, and the brand attracts
B U I L D I N G W E A L T H ·
people. Or they build some kind of a medical device, a proce-
dure, or a process with an intellectual property.
You have to work up to the point where you can own equity in
a business. You could own equity as a small shareholder where
you bought stock. You could also own it as an owner where
you started the company. Ownership is really important. [10]
· T H E A L M A N A C K O F N A V A L R A V I K A N T