You don’t want to bust your a$$ making someone else rich while you go no where. Do not make others do that for you either.
Why do so many people want to or do start their own business? There are so many reasons why people want to own and/or run a business. Get rich. Make their own hours. Answer to no one, but themselves. Stick to The Man. All these reasons and more, can be summed up with the fact that they are tired of working all the time and getting nowhere real quick.
A rare few start a business because they have a new idea to take to market. We aren’t talking about those individuals.
It is awesome that people have the gumption to start their own business. It is great fuel for our economy. However, it is despicable that people are motivated to venture out on their own because they are not being properly compensated.
It has been a while since I have looked at the numbers, so bare with me on this. Off the top of my head, productivity has doubled since 1970-ish. Since then the average household income has stagnated.
To put it simply, pay your employees what they are worth–which isn’t always in line with what the market pays them.