Cooperative Economics

Dr Boyce Watkins: Here’s a huge secret about owning a business that few people know

Dr Boyce Watkins: Here’s a huge secret about owning a business that few people know

by Dr Boyce Watkins

When I speak about black people owning their own businesses, a lot of people think that I’m only talking about the economic opportunities that come with business ownership.  Well, the truth is that being able to run a business is one of the best ways to position your children to have more than a million dollars in financial assets by the time they retire.

But to my surprise, the best part about running a business wasn’t the money.  Instead, it was the ability to form bonds with family members that I work with.

You see, when you spend the bulk of your life on the corporate plantation, you’re spending that time away from the people you love. You’re also doing work that may not mean much to you other than a paycheck.  In a way, it’s a lot like getting married only for money and not caring one bit about the person you are with.

When I learned how to run my own business, I had the chance to spend time with people who cared about me, wanted to help me and ultimately wanted to see me succeed.  This made the experience into a special one that I’ve come to cherish far more than any dollar amount I could ever receive.

To help you understand this, I did a podcast episode on this very topic, along with many others.  If you haven’t subscribed to my podcast, you should.  It’s the best in the country.  You can hear my episode on these issues at this link.  But I must warn you:  Be prepared for a wild ride, I can get a little bit out of the box!

 

Dr Boyce Watkins is a Finance PhD and founder of The Black Wealth Bootcamp.  To learn more, please visit TheBlackWealthBootcamp.com

  • Cooperative Economics

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