In business and finance, always seek to own everything 100%. Good examples of the importance of this can be found in the world of show business.
A good case is Simon Cowell. He is a judge on American Idol and is highly paid, but the producers of that show get paid more than him, so he created his own show, The X-Factor, so he could have the lions share of money. He cannot sing or dance, but he controls the fortunes of extremely talented people, because he owns the format. He decides where the money goes, and he is able to ensure he gets as much as possible.
Recent winners of talent show the X-factor only got paid £250 a performance, while Simon Cowell made sure he got paid millions. The story is the same wherever you go in the world of business and finance. The business owner gets the most money because they can control where it goes.
The TV show Americas Next Top Model had Janice Dickinson as a judge, and she was very good and no doubt got paid a lot. Did she settle for this? No, she started her own show, The Janice Dickinson Modelling Agency, and made sure she owned the rights.
In music the songwriters get paid more money than the singers, because they own the rights to the song.
Donald Trump owns 100% of his company and is a billionaire.
If you start your own business, make sure you are the sole owner. No partners, no hassle, no fuss. All the risk, all the responsibility, and all the rewards.
A good case is Simon Cowell. He is a judge on American Idol and is highly paid, but the producers of that show get paid more than him, so he created his own show, The X-Factor, so he could have the lions share of money. He cannot sing or dance, but he controls the fortunes of extremely talented people, because he owns the format. He decides where the money goes, and he is able to ensure he gets as much as possible.
Recent winners of talent show the X-factor only got paid £250 a performance, while Simon Cowell made sure he got paid millions. The story is the same wherever you go in the world of business and finance. The business owner gets the most money because they can control where it goes.
The TV show Americas Next Top Model had Janice Dickinson as a judge, and she was very good and no doubt got paid a lot. Did she settle for this? No, she started her own show, The Janice Dickinson Modelling Agency, and made sure she owned the rights.
In music the songwriters get paid more money than the singers, because they own the rights to the song.
Donald Trump owns 100% of his company and is a billionaire.
If you start your own business, make sure you are the sole owner. No partners, no hassle, no fuss. All the risk, all the responsibility, and all the rewards.
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