Steven Odzer of Woodmere, NY On the Rewards of Business Ownership
Steven Odzer of Woodmere, NY believes in American business and business ownership. Over the years, he has owned many companies and helped others startup careers of their own. And he fully believes that this pathway is one of the most joyous, exciting, and prosperous ways to achieve success in America.
Why Steven Odzer Believes In Business Ownership
Although the spread of Covid-19 has impacted many business owners, Steven Odzer believes that this career pathway is still one of the best people can take. There are a handful of reasons for his enthusiasm. First of all, as a business owner, Steven Odzer has found that his life has never been more independent and in his control, a factor that many people likely consider when opening a business.
First of all, Steven Odzer of Woodmere, NY wants to emphasize that you are free to do what you want, pursue any business you desire, and find a way to make it successful. This factor is one that makes business ownership so alluring. You don’t answer to anybody but yourself – and Steven Odzer finds that most people who own a business find it nearly impossible to go back to the regular work-a-day routine.
When talking to people who own businesses, Steven Odzer finds that over half of them claim that they started a company to be their own boss. Most of the rest of these owners started up a company to reap more financial success. Tired of working hard to see others succeed, Steven Odzer and others like him start businesses to take control of their financial destiny.
Before starting a business, most people make around 1-5 percent of what a company earns. So if a business makes $5,000,000 per year, they can expect to make just $50,000 or so of that. However, when you own a business, you will get closer to that total of $5,000,000. Of course, Steven Odzer emphasizes that you have to pay expenses, such as insurance, rent, and employee wages out of this money.
However, if you consider that about 25 percent of your income will be expenses, another 10-25 percent taxed, and a further 10 percent being used for other costs, you’re still making much more than you would as an employee. This financial gain is something Steven Odzer of New York heavily emphasizes to those on the fence about business ownership – overcoming financial limitations is possible in this way.
Of course, Steven Odzer knows that many businesses do fail through no fault of their own. And this is a risk that all companies take. However, Steven Odzer believes that the benefits are more than worth it. Being able to say that you took a chance, tried something unique, and failed is still engaging and worthwhile. Even if your business isn’t immediately successful, you may still find success later through sustained growth.