When I started my business in the health, skincare and consumer staples industries with my mentor’s guidance there was only one goal in my mind.
Financial freedom. Or getting out of the rat race of the 9 to 5 job world.
In other words, having the freedom of time and money to do more things that I wanted to instead of what I was forced to.
I’m guessing the reason you are reading this is also because you may have contemplated what it would be like to earn money while you sleep or be young, rich and free. Or just in general, having multiple sources of income outside our job gives one more peace of mind.
If that is you, then I agree that there are tons of opportunities that promise financial freedom and choosing between them can be challenging. Here are six pointers that I would consider:
👎Cyclical industries that go through boom and bust periods that aren’t recession proof are very risky and, in my opinion, aren’t worth the loss of peace of mind
✅An in-built education platform that can teach you what to do step by step is preferred instead of figuring everything out on our own
✅A mentor who already has the results and is willing to be our guide is even better
👎High upfront capital investment would be a red flag for me
✅Operating costs of $200-$500 a month are acceptable depending on the industry (high ticket businesses would have different figures which is fine too within reasonable limits)
✅However, the most important thing that I would look for is the possibility to learn how I can create my own personal brand and actually do it. Creating a large following where it’s a win-win for our audience and ourselves is where it’s at!
In my journey so far, what I have done is
👉Identified my goal or overarching desire which for me was financial freedom (You too? Wow! I thought I was the only one!)
👉Identified a business vehicle which met all the preceding criteria
👉Started educating myself through books, podcasts, and networking with others in the same industry
👉Used my products and services to experience the value they will add to my customers
👉Crystallised my target audience, who I would like to serve or do business with (no I can’t relate to everyone & chances are, you too!)
👉Setting up SMART (Specific Measurable Achievable Realistic Time bound) goals
Once I was convinced of the value I could bring and whom I could serve, then I started working on marketing which includes social media platforms, websites, face to face interactions, and so on.
But that’s where most entrepreneurs give up because of the rejections they encounter. Which is why continuing to immerse ourselves in self development along with doing the grind work is the true recipe to move forwards!
So have you decided upon your vehicle to get to freedom yet? Let me know in the comments 👇
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