Page 75 - Midas Touch

Problem: It’s difficult to become a focused entrepreneur if your mindset
remains focused on steady paychecks and security. Given the lessons
learned from the last recession and other economic downturns, how safe
and secure are steady paychecks anyway? Or is it just an illusion?

The S stands for SELF-EMPLOYED, SMALL BUSINESS,
SPECIALIST. When most people quit their jobs and start their own
businesses, most move into the S quadrant. They have successfully
changed their focus from a steady paycheck, security, and benefits (the
focus of the E quadrant) to focusing on being their own boss and doing
things their way. The mantra of most people in the S quadrant is, “If you

want it done right, do it yourself.”

Robert always says the S stands for “smart” which is why many doctors,
lawyers, and accountants become typical high-income inhabitants of the S
quadrant. Other typical professionals who live and work in the S quadrant
are real estate brokers, business consultants, restaurateurs, beauty-shop
owners, and most home-based businesses. One reason why many people in
the E quadrant never move on to the S quadrant is because the S quadrant

does not guarantee a steady paycheck or benefits.

Problem: In the S quadrant, when S’s stop working, S’s stop making
money. E’s get to enjoy days off with pay, sick pay, and paid vacations.
Most S’s don’t have those luxuries, at least not at the start. Getting a
business off the ground requires round-the-clock, day-in day-out focus.
And there are no guarantees. Many new entrepreneurs go years without

any time off. Another problem is that S’s tend to pay the most taxes when
compared to people in the other three quadrants. The people who give up
the second highest percentage of their income to taxes are the E’s.

The B stands for BUSINESS OWNER with over 500 employees. People
in the B quadrant often pay the least in taxes, if they pay anything at all.
Unlike S’s who prefer to do the work themselves, B-quadrant

entrepreneurs are looking for good people who can do the work for them.
They look for others who are the best. They don’t consider themselves as
being the best. They look for people who can do what they cannot. They
strive to use other people’s talents and other people’s time (OPT). Most of
the time, B-quadrant entrepreneurs look for the best E’s or S’s they can
find to operate their businesses.