While Most people dream about financial freedom, they lack the resources to ignite a new financial freedom reality. Here are the 3 Main Resources you require in order to ignite financial freedom in your life.
Igniting Financial Freedom Resources
In order to build a financially free life there are only 2 approaches … save, save , save and invest your way there OR create a seismic shift (huge increase) in your personal income.
When you want to increase your personal income you will require a business vehicle or vehicles to monetize value added activity.
Many people launch businesses to create financial freedom resources; however, many people also fail to achieve the results they desire. When you integrate the following three components into your income explosion program, you great enhance your chances of successfully attracting substantial financial freedom resources.
Once you have chosen a business to open here are the 3 points you must master …
1) Tactical Mastery – You must learn the mechanic of your particular business. More specifically you must learn how to attract new customers via marketing. When you get started building your financial freedom resources, you must focus on this first. If you don’t know what to do, hire the talent or a consultant to direct you to the right place.
2) Personal Growth – All new business owners experience some degree of fear, and it is this fear that will impede your progress, and completely block your success. Building financial freedom resources requires that you emotionally develop; or increase your emotional IQ about business, people, and money. Personal development is the key to emotional development.
3) Financial Literacy – Understanding how to effective manage cash flow, daily operating requirements, and the financial metrics of the particular business you are in is critical. If you don’t have this experience, hire a professional like a CPA. After all your goal is to create personal financial freedom resources, not just pass money around. In order for this to happen your business must become profitable, and a competent objective “outsider”/consultant can save you much heartache and failure.
Of these three points of mastery, the highest priority for any new business is generating cash flow, and then profitability. A business that does not turn a profit does not become part of your financial freedom resource set, it becomes a drain on your asset base.
The best advise you can adhere to is to find your niche, don’t expect that you will be expert at everything; bring in the experts you need to assist you to get your idea to marketplace, and your business into cash flow. Cash flow is king in business, and personal cash flow is the most important financial freedom resource you can have.