Look at the wealthiest people in the world: most of them own a business or multiple businesses. They may not be the happiest people, but they do have a certain level of freedom that often is not attained by working an average or slightly above average employee position. As a result, they are usually pretty happy, too. Perhaps you have no interest in starting a business because of the risks and uncertainty. I understand that. An approach that seems to be a great fit for individuals who do not feel comfortable taking significant risks is to divide their savings and time. People in this situation often separate their savings into three or more categories. I have personally practiced putting savings into three funds:

1. Ultra conservative funds earning basically no interest — usually cash in a lock box at the bank and in a savings account.
2. Moderately conservative accounts such as index funds or mutual funds.
3. Risky endeavors such as investing time and money in a microbusiness that may not turn a profit.

This approach allows employees to start a microbusiness or own a percentage of a business. Someone who has some extra savings they will not miss at all may hire a few app developers and own an app development company. It may not be profitable, which is why it is categorized as risky. However, if it is profitable, they have the chance of getting a high payout. Owning this kind of business is possible while keeping a day job. They are basically in charge of finding new clients and outsourcing the work to reliable app developers while they keep a percentage of the profits since they started the company and found the work. They may even know how to build apps themselves, giving them more funds for hiring a great marketing company to help them find new clients. Yet they may not want to find too many clients. Keeping the business at the microbusiness level and working their day job may really appeal to them. Their microbusiness is likely to make them an extra $5,000 to $20,000 a year. Not too bad for a side income.

If an endeavor like this is not successful, they will only have lost a small amount of money they did not absolutely need. This allows them to give it another shot. The time spent on the project was more than likely well spent as they probably learned from the experience. Perhaps they discovered another profitable endeavor and can pursue it with the extra money set aside in their risky fund. Whether a project works or not, they keep going and stay the course even if it takes them another six months or year to set aside some extra time and income for the next business.

We all know owning a business can provide us with an amazing lifestyle. So why do many individuals quit when they fail with their first effort? They probably think it is a waste of time and it won’t ever work. These people do not realize how businesses often differ from traditional jobs. As we know, when you get a job, you go to work, and you immediately get a paycheck after working for the company. Starting a business that makes you hundreds of thousands or millions of dollars a year often takes more time – time many of us simply do not have since we have to pay bills this month. That’s why staying the course may be easier with a secure employee position. Or it may be easier when you own a business that is in high demand but not necessarily your long-term goal.

You will more than likely be successful owning a microbusiness if you stick with it. It may take you a few years, and it might only provide you with an extra $15,000 a year. However, you will begin to think like an entrepreneur once you’re successful with a microbusiness. This is the thinking that could lead you to millions because you will have a better understanding of how businesses work. You will talk with several successful business owners and read books written by successful entrepreneurs. I have owned microbusinesses for nearly four years, and I have been starting to think more like an entrepreneur who is more comfortable with higher risks and higher returns. I’m starting to realize how business loans work and how to run a bigger business. I hope all of you interested in running your own microbusiness stay the course. It may take years to become truly wealthy as a bigger business owner, but let’s be honest: It is a realistic approach if you constantly do what you need to do in order to succeed and research other successful business owners.