Ep. 166 - What is Business Ownership?

There are fundamentally 3 things that set the owner apart: Risk, Responsibility, and Reward.  The owner takes a risk to initiate and operate the business, takes responsibility for everything in the business, and is rewarded in return for his risk and responsibility. Risk, Responsibility, and Reward are what distinguishes the business owner from other stakeholders. Risk, Responsibility, and Reward is Business Ownership.