When we talked about micro-entrepreneurship in class it caught my attention. I’ve thought a lot about how important it is to have multiple streams of income. Most millionaires have 7 so as an ambitious person of course I want to have 7 streams of income. I’ve watched a few videos on the pros and cons of micro business. They are often cheap most would consider the startup costs to be less than $50,000. Some of the other qualifications are that they usually start as sole proprietorship companies, they bring in under a quarter million in revenue a year, and they have less than ten employees (some say six). My dad owns a micro business and has been very successful in it. I have more of a passion for it than ever because I want to help people and I think there are many more ways to help people than be a doctor. I hear people complaining about how the government needs to generate more jobs all the time when the people of the country are the ones who have the opportunity to create jobs for this country. Micro businesses are typically run out of someone’s home and people use some of their home expenses to cover their micro business. This concept makes them even easier to get off the ground and side hustles are way easier to do than people think. Having multiple streams of income is something that all Americans should desire instead of trying to get into big companies with good benefits packages because those types of jobs are becoming few and far between. America was built on small businesses and they need to continue to be a desire for the American people.
Explained | What is a Micro Business? (youtube.com)
BoweryJE22
Micro-entrepreneurship is cool concept, offering a pathway to financial resilience. Your thoughts on the importance of diversifying income streams is really good. It’s inspiring to hear about your ambition to have seven streams of income, mirroring the strategies of many successful millionaires.
A lot of people say micro-entrepreneurship is a new thing, but I think the last few statements of your article bring up an interesting point about the history of entrepreneurship. America has always been a land of inventors, and if you look at many of the big businesses now, you realize that many of them started as micro-entrepreneurship businesses. Your article serves as another voice telling Americans to work for ourselves and make our own wealth rather than relying on others to do it for us.