Mind your own business
It is important here to understand the difference between profession and business.
A lot of us use these words interchangeably.
For Ray Kroc, his profession was to sell franchises for making burgers; but his business was to build assets regarding the income-generating real estate.
As a professional, we are ‘minding’ someone else’s business. Instead, we should be ‘minding’ our own
business.
As a professional, you are working for a salary that becomes your ‘income’. As a business person, you are looking at spending your income to buy revenue-generating assets.
The ‘usual assets’ like a mortgage-bought home or a loan-bought car, become liabilities when we lose our jobs due to downsizing or restructuring.
Minding your business is about buying revenue generating assets instead of liabilities or vanity goods.
Revenue generating assets include stocks, bonds, mutual funds, real estate that generates net positive income after factoring mortgage and anything that produces income.
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