Another reference from Rich Dad’s CashFlow Quadrant
We all have a price for our time.
E’s take less money for their time because they get the security of a paycheck. E’s feel that more education will always translate to more money. How many people go back to college later in life because they want a higher paying job?
S’s feel they are entitled to more money now that they are the boss, especially since they work much harder than they did as an S. A problem that can occur when the business grows more successful is the new S feels they deserve to share in the success with pay increases. In Reptacular Animals we got into trouble when we needed to keep our higher salary but felt we “deserved” to not work as hard and hire people. Our business wasn’t ready to afford that. I heard a saying that a self employed person will work 80 hours a week to avoid working 40 hours a week for someone else. How true!!
Both the E’s and S’s trade their time for money.
Now to switch over to the other side of the CashFlow Quadrant to the B’s and I’s! B’s hire people to do all work and the I’s use their money to do all the work for them. Both the B’s and I’s do NOT trade all their time to get all their dollars.
My “Ah Ha” moment from this?
What price do I give for my time? Right now if someone offered me $10,000 a month for a standard E job with benefits would I take it? Do I truly want to be a B and/or I or just want more money?