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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The best way to get rich is to start your own business. Otherwise, you're just working for someone else and it's the margin. For example, a non-partner lawyer is billing at $X per hour, then the firm takes their cut. There's an upper limit to how many hours you can bill, so there's the limit on your income.

If you own a business, you can scale it up and make more money, endlessly.

Our HHI is $1mln. We eat out when we want, and drive nice cars and live in a nice house. Nothing is extravagant, but it's nice and high quality. More importantly, I always treat people with respect. Golden rule.[/quote]

I represent a lot of business owners and learned early on I never ever want to own my own business. Subcontractor claims and disputes, owner refusal to pay, always having hundreds of thousands of dollars tied up in a project that if it goes sidewise your business could go belly up? Nah![/quote]

Sounds like a construction or real estate development business, with an incompetent owner. All those risks can be managed, for example by using third-party escrow on funds, and trusted lenders.

I've been doing my business for 15 years and I certainly learned a lot of painful lessons early on, and we learned to handle them. Now we no longer have those issues.[/quote]
Some are large and some are small. However, when dealing with federal projects there are always issues. And I’ve been on both sides of the table as the govt representative and in private practice. It’s not the escrow on funds or trusted lenders that are the problem. That’s easy. [/quote]

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