Discover the steps you need to take to build your business to achieve financial freedom in this week’s episode of the InFlow Podcast with Michelle Bosch.
Why People Are Turning Their Backs on Corporate America
Over the past 18 months, the Covid-19 pandemic has disrupted our way of life on many levels. We were all forced out of our comfort zones and had to adapt to a new way of working, parenting, and playing.
Now that the pandemic is finally subsiding, people are asked to return to the “old normal.”
The problem is that people who were numb to the pain of their corporate jobs have experienced something different, and they don’t want to go back.
Who wants to return to
- A painful commute?
- A boss that you hate?
- Hours of your life spent building somebody else’s wealth?
The result is that many professionals want to build a life that speaks to their real priorities and values:
Mothers want to raise their kids. Fathers want to be around for the milestones. We want to be able to set our own schedules, travel, and experience life.
Basically, we want to live AND work – not live FOR work.
The Shift To Entrepreneurial Freedom
Suppose you, like so many, found yourself re-evaluating your priorities during the lockdowns and discovered that your job causes you more pain than pleasure. In that case, you may be considering starting your own business.
However, you are also likely to know as many as 80% of startups fail in the first year.
So, how do you walk away from the pain of your job while ensuring your ability to provide for yourself and your family?
The answer lies in the approach you choose to take when starting up your own business to achieve financial freedom.
In my view, you want to find a proven and repeatable business model that will get you cash results fast and scale with ease.
The four pillars to build your business for financial freedom
When you are building a business to achieve financial freedom, you have to have a game plan. You want to ensure that you have the pillars in place to set you up for success before you hand in your resignation.
1. Uncover your WHY and commit to it
In my opinion, the number one reason businesses fail in the first year is that the founder of the company has not fully uncovered and committed to their WHY.
When you decide to start your own business, it is going to be difficult. It will demand that you stretch out of your comfort zone and challenge yourself in ways that you have never been challenged before.
When things get tough, you need to have a deep and gut-wrenching motivation to provide the necessary grit to keep going.
2. Decide on WHAT you are going to do in your business
To build your business, you need to buy and sell a product or provide a service for a charge.
According to research, the number one stumbling block for many businesses is providing a product or service that nobody wants or needs or entering a market that is already saturated.
Therefore, you must identify a business model with high market demand, low competition, and a proven and scalable strategy to maximize your profits – FAST.
You should aim to get your business to income generation as fast as possible. Once the money starts coming in, you can reinvest in the team and systems you need to scale your business to meet and then exceed your current financial needs.
To achieve financial freedom, you need to build your business to be a solid cash-generating machine that will ensure cash flow. Once your cash exceeds your costs, you can reinvest your money into more income-generating assets to create passive income.
One of the great benefits of land investing the LPG way is that it is the perfect recipe for a startup.
- The system is proven and repeatable.
- There is almost no competition, and
- Market demand for land is higher than ever.
This is why we are seeing so many of our coaching students achieving financial freedom in under a year!
3. Identify WHO is going to help you build your business
You are the engine of your business, and, therefore, you must invest in yourself first.
However, trying to build a business in isolation can be insurmountable.
The first thing that you want to find is a mentor to help you compress time.
During the first few months, you will have to learn a whole new skill set, and having a mentor that is already where you want to be will dramatically accelerate the learning curve.
4. Make sure you know HOW to build your business
There are four phases that every company goes through as it matures:
- Startup
- Build up
- Build out
- Mastery
In the first 90 days of your entrepreneurial journey, you will be laying the foundation for each step that follows.
The foundation is the most critical phase of your business development.
If you miss-step in the startup phase, every step that follows will remain vulnerable to failure.
Therefore, investing in a business coach, who is in the trenches and has made the mistakes before you, is a sure-fire way to ensure that your business is set up for success.
Find yourself in a position where you dread returning to the “old normal”, and are committed to building a future with freedom of cash, time, relationships, and purpose?
The Fall Intake for our Land Profit Coaching program is currently open. You can apply to become a part of the number 1 incubator of land investing businesses on the planet.
There are only a few spaces left, so be sure to book a call today.