Uncategorized, Business, Entrepreneur

How To Achieve Your Financial Freedom

If you want to take rest and let other things work for you, then you are at the right place. Everybody has...

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achieve financial freedom

If you want to take rest and let other things work for you, then you are at the right place. Everybody has its own definition of financial freedom but the main thing is that you just sit and relax and your dollar meter going up everyday is called financial freedom.

If i say it is because you do hard work then you’re wrong. The most hard work done by donkey but all it gets in return, only grass and pot of water to take. Hard work is a failure if you are going in the wrong direction. A lot of bloody people saying that hard work is the key, but they are unable to explain the sense of purpose, and action plan which is first needed before you go on hard work.

I have listed 5 crucial steps to achieve your financial freedom after my own experience and learning from other successful people in the world.

1. Set Goals

Ideas don’t come out fully formed, you have to work through it to make it better and clear. All that you need to have vision, without a vision you drift around and end up to nowhere. Once said in the army that, without knowing your enemy, unable to defeat it. Means your target should be clear. You should have clearly defined goals. It can be whatever but a solid, clear and reasonable target to achieve it.

Like you want to achieve financial freedom and it takes a lot of money to buy and run everything on autopilot. So write down your goal enlist everything needed to achieve it. resources, constraints and limitations etc.

If you are unable to set goals then, you can generate ideas and put them together to know which one suits your personality, skillset and resources. Assumingly you get to know that you need $10M to achieve financial freedom then comes step 2..

2. Make a action Plan

Now you set your goals of Financial Freedom. You need to have a solid action plan to achieve it. First thing you can do is to write down your goal and also write down all the steps needed to be done to achieve you goals like

  • Our goals is to achieve Financial freedom
  • Financial freedom can be achieve by earning a lot of money
  • Money can be earned through a job or business
  • Job or business which is best to achieve your goals.
  • If job is best, then Where, What job is best to achieve you goals
  • If business is best, then Where & what business is best to achieve you goals, whether online or local business is best?
  • Cost to do something
  • Timeline to do something
  • Team work required
  • Location

If you decided to start an business to achieve financial freedom or make $10M so it can be devised as

Sell $10 product to 100,000 people

Sell $100 product to 10000 people

Sell $1000 product to 1000 people

or something else.

then comes to point 3…

Hard Work

Any time if you face failure, forget the pain, just remember why you started. Here you will build your empire. Once said, if you want to buy things without seeing its price tags, then start working without watching clock. But never ever do hard work like donkey like i said earlier, before starting hard work, lets create you brand, or a great product having unique market position and size that could solve a biggest problems of people. As per goals set and devised action plan at point 1 & 2, you have to put hard work in a right direction.

Here you need to cleverly understand and anticipate the future to take benefits of upcoming opportunities.

  • Spend less
  • Track every spending and
  • Get experience instead of things
  • Pay off debts and avoid now and again.
  • Pay off your self first

Create Multiple Income Streams

Every successful entrepreneur have 7 to 8 income streams, Guru said, don’t put all eggs in one basket. If basket lost all eggs will gone. Suppose if you choose to start a business, you can also do

  • Freelancing,
  • Invest in stocks and bonds
  • Invest in join ventures and real estate,
  • Create rental incomes etc.
  • You can write book or create a unique formula, or patents to get royalty incomes

but all that is done should be towards your main goal and purpose you defined at start.

If you’re doing local business, then you can start the same online business to reach millions of customers everyday. You can buy running businesses and get them up. Always remember, success don’t come overnight. It can be small as less than one year or long as more than 4 years to achieve your goals so, be on it. It is going to be a great thing…

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