As the Powerball jackpot approaches $700 million and Americans dream about what it might be like to become a millionaire, it’s the perfect time for me to push the power of entrepreneurship to the front of our nation’s zeitgeist.
Here’s the real deal. You have a much greater chance of becoming a millionaire from good old fashioned business ownership than ever winning the Powerball – or any other type of lottery game. Truly, is it really worth your time dreaming about a lottery win when you only have a 1 in 292 million chance of winning? To put this number in perspective the U.S. population is about 325 million!
A more practical use of your time is to start brainstorming what type of business can grow in value over time. Owners of prospering businesses have higher annual incomes and net worths that are three times their salaried counterparts. That’s success.
Check out the Forbes 400 – the big bank account club of the four hundred richest Americans. Today the majority of its members were self-starters and became millionaires and billionaires from starting Home Depot, Starbucks, Amazon.com, Facebook, Microsoft, Google, Bloomberg and more. Oprah Winfrey is on the list too. She decided she could own the studio that produced her show rather than work for some other studio or production company as a salaried employee.
Each year, thousands of people become millionaires because of business ownership than ever win the lottery. But you have to start a business, to win the high prize of entrepreneurial life. You can do it.