Rodney Gainous, Jr.

Posts Tagged ‘labor’

Now if you know anything about the late great Jim Rohn or have heard any of his CD’s or tapes, you should be familiar with the phrase, “Profits Are Better Than Wages” because he mentions it a lot.

Now some people probably think that profits and wages are the same. I mean it’s all about getting more money isn’t it? As long as the paper is coming in, I don’t care what you call it. Profits, wages, bucks, dead presidents, moolah, greenbacks, duckets, scratch, dough, Benjamin, C-note, clams, cheese, cheddar, lettuce or bacon. Okay, I’m hungry now.

Well there is a difference.

Let’s look at the definition for each one.

Wages-a payment usually of money for labor or services usually according to contract and on an hourly, daily, or piecework basis.

Profits-a valuable return; the excess of returns over expenditure in a transaction or series of transactions; the compensation accruing to entrepreneurs for the assumption of risk in business enterprise as distinguished from wages or rent.

There are some distinctions in these definitions that I would like to point out that is crucial to determining the difference between profits and wages.

Let’s take a look at Wages. What sticks out in this definition for me immediately is the word labor. Now I know nothing in life is free and we have to work if we want to eat but when I read this definition I have visions of not just labor, but HARD labor. You know the type of work that is stressful, back braking and physically hard.

The next part of that definition that gets my attention is on an hourly, daily, or piecework basis. The way I see it is if you put in a certain amount of time, you will get back a certain amount of money and nothing more. Now that’s how we’re all raised to believe but wouldn’t it be nice if we could minimize the amount of time we put in BUT increase the amount of money we make? That is the world of network marketing.

Now let’s look at Profits. In this definition there are so many things that appeal to me, the first being value. When something is of value it is looked upon as great worth. Next there’s excess of returns. Who doesn’t want excess when it comes to our returns. Every business person wants the maximum amount of return for their efforts.

The next two phrases are entrepreneurs and business enterprises. Let’s face it. If you are a business owner or interested in starting a successful business, you now have the mindset of an entrepreneur so anything that is associated with business ownership or building an enterprise is a good thing.

As an entrepreneur you do what you do because you love it but also because you want to make a profit and you want to create wealth. If you’re not in it to make any money then I question your sanity. Seriously. Let’s be real, if we want to create wealth for our family and provide a financial freedom we need to earn profits. Earning wages is good for paying our bills but we all want more than that. We want to be able to dream and then make those dreams a reality and the only way to do that is to get those profits.

So let’s stop settling for mediocrity and go for the gold.

To Your Success,