Can't win without business knowledge

"The book The Sovereign Individual by James Dale Davidson and Lord William Reees-Mogg contains some extremely important information on social, economic, and political trends and their implications, and how Sovereign Individuals can adapt their strategies, tactics, and actions to best take advantage of developing and changing situations in the world."

Source: http://www.buildfreedom.com/sovind1.htm

I've read the book mentioned above, not just once but SEVERAL times. It is truly worth reading if you want to thoroughly understand how the Internet is changing the way we create value, and the way we compete for a better life -- the ultimate life being one where you have complete control over how you spend your time every day.

Obviously, most people are still "slaves" to their job or employer. They cope psychologically with this situation through self-denial or through comforting themselves with material possessions or by watching the news filled with stories of death and disaster and corruption ("hey, my life is not so bad, look at all these people mentioned in the news and their misery").

Even as a teenager, I felt I was different from the others. I knew I had a capitalist mentality, not an employee mentality.

If you have an employee mentality (i.e. you expect an employer to take care of your career, you seek security (not opportunity), and you think a paycheck is fair compensation for the amount of life that you give up every day, 9 to 5), it is still not too late to switch to a capitalist mentality.

How long it takes is entirely up to you: it can take five minutes, or it can take 30 years.

Here's a story to illustrate my point.

Bob goes to see the dentist to have a tooth extracted. He asks: "So doc, how much is this going to cost me?"

Dentist replies: "$200."

Bob: "And how long is it going to take?"

Dentist: "Oh, about five minutes."

Bob: "What?! You're charging me $200 for five minutes? Isn't that ridiculous?"

Dentist: "Well, Bob, if that's what's bothering you, I CAN TAKE AS LONG AS YOU LIKE!"

Anthony Robbins wrote about this also, saying that most people mistakenly believe that change has to take a long time. It doesn't. You can switch your mind in a split second.

This is something we teach at Talentelle, the career management company I created with my sister Zoonie. We teach a seminar called Economic Destiny, where we help participants explore the intellectual, psychological and emotional issues involved in switching from an employee mentality to a business owner (or capitalist) mentality.

I created that seminar because I saw so many intelligent professionals lose money and wealth, just because they did not know the first thing about business. They are thoroughly exploited by their employer.

To live and work in a capitalist system like ours and not having business knowhow or not making business decisions, is like playing the Monopoly game but without ever buying any house or hotel! You cannot possibly win.

The rules of capitalism is set in stone. Anyone, even people with PhD in nuclear physics, who doesn't understand business, cannot possibly win and won't likely achieve financial independence.

Fortunately, more and more people are beginning to realize the importance of business knowledge. Every year, McGill University's business school accepts only 1 out of 100 applicants to the full-time BCom programme. That gives you an idea of the demand for business education.

Also, the required GPA to get into the BCom programme is 80%, vs 78% for Engineering School, and vs 75% for Arts and Science.