Here’s What We Mean by “Financial Freedom”

Our last post discussed running your business with “providing for your family” as the motivator behind it.

But maybe you’re in a decent place financially. Although providing for yourself and your family is obviously important for everyone, perhaps in your circumstance your family is doing okay on that front. Instead, you may have a different motivator, a different “why,” behind running your business.

Perhaps your “why” is financial freedom.

What is financial freedom?

“Financial freedom” moves beyond just covering your basic needs and wants, beyond just getting by.

Financial freedom means being in control of your income – not being confined by “I can’t afford that.”

If you want further financial cushion because you’re thinking of having more kids, or if there’s something particular you’d like to purchase to help out your family – instead of waiting and hoping for your boss to give you a raise, having your own business provides you the opportunity to earn more, on your own time, so you can accomplish these things.

This can be a good motivator to step up and succeed in your business.

It can actually help to have a very specific goal. You can think, “I’d like to get my spouse xxx for Christmas” or “I’d like to start giving xxx amount to my church” (although this second motivation may fall more in line with the “impact” motivator, which we’ll discuss later).

What about you?

Does “financial freedom” align with your “why”?

Do you have any particular financial goals you’d like to attain? If so, how can running your own business get you where you’d like to go?

What can you be doing in your business right now to press toward your goals?

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