How important is “freedom” in your life and business? For example would you rather be able to travel whenever you wanted or would you rather make more money leaving freedom on the back burner? Is making more money more important to you and your life? This Really is really a strange question because as entrepreneurs ultimately we want both! That is what we have left our jobs in persuit of in the first place. As job gives you no leverage in both time and money where a business you can leverage other people’s time or assets to create more value than you ever could earn per hour. But let’s face it most entrepreneurs want to make it big and make as much money as possible. Who really wants to settle for second best?
What if there was a way you could have both freedom and money. It is truly possible that if this is your total desire it is possible. Of course it is not easy and takes a whole lot of work. Remember though I am talking about “freedom”. This can mean many things to different people, first what is freedom to you? being able to start your next project without concerns, being able to go away for a weekend with your wife whenever you want, not having to work a full time job. Whatever freedom means to you here are 10 tactics to help you get closer to that goal.
- Efficiency- This is number one on the list for a reason. This is so important and all other tactics below are based on efficiency. We as entrepreneurs are very heavily results based. What’s the point of working 80 hours a week and getting nothing done? In a job where you get paid hourly there is a point but not in this game. You need to make sure every cog in your system is set up perfectly so everything runs smoothly with or without you. Do not let yourself fall in the trap just “simply work harder” to succeed. Challenge both your staff and yourself to work together more efficiently.
- Use Technology- You can literally communicate/delegate to your staff from anywhere in the world. These days you DO NOT need to be sitting next to your employees in an office. Even if you have an office they work from you literally do not need to be handcuffed to your desk. Also you can use all the online software readily available to you to share documents and easily collaborate and communicate. Such as- google drive, dropbox, Gmail, Skype, basecamp, go to meeting and so on.
- Leverage Virtual Assistants- do not spend ANY time on tasks that can easily be done by a VA. If you do, you simply are an loosing out! If you have a process that can easily be followed by a VA then get to hiring one and get them trained as soon as possible. Almost any online business will have something that a VA could be doing for them. One thing to remember never hire a VA to “make you money” and never hire them if you don’t have a real need for them. Some people can waste time and money here thinking a VA will create value and money for them even if they really have nothing for their VA to do.
- Delegate- Once you start getting bigger and making more cash your freedom may be sucked dry even more. This is the best time you to start delegating more and maybe even get a management team set up. Once you have a management team set up and a good process they can do the majority of work for you. Let your employees show their skills and let them contribute to your business.
- Passive Income- This is hard to achieve and you need to use some of the above tactics to achieve this goal. I have personally used this tactic for a very long time to help me have more freedom in my life. Whatever the passive income is for you- real estate, shares, a business, royalties or even interest in the bank. The impact this has on your life is huge as it gives you money you don’t even have to get out of bed for. It allows you to either save more, invest more or spend more. Check out how Dave Lee travelblogsuccess.com uses online passive income to have the freedom to travel the world super cool.
- Financially Savvy- This is another tactic I have used for a long time which has allowed me to work for only 6 months a year for the past 4 years. While I am no Warren Buffett (he managed to make AND save $9,800 by the time he was 20, this would be equivalent to $120,000 today). I have fairly good financial discipline that I have tried hard to turn into a habit. The more you earn the more you should save or invest over time. I had an argument with one of my friends about this…he said “i’m money hungry and love money too much”. That is not the case at all, I don’t love money, I love the freedom money gives you. You’re either a slave to money or money is a slave to you. Spend your money wisely but at the same time don’t live your life simply trying to save pennies, otherwise you’re not much better than someone wasting their money but living a good life.
- Stop micro managing- This can be a huge time drain as you spend hours following up on staff making sure everything is ok, You should have managers and systems set up to follow up for you and check that everything is ok. At times you need to micro manage virtual assistants as they need alot of guidance often its quicker to get the job done yourself. This can often be hard to avoid but hiring good quality staff for those more important decision making roles is very important.
- Get things Done- Even if things are not perfect “finished is better than perfect”. You can waste so much time on getting things exactly right only to realise your ideas totally suck or was not worth the time spent. If you just get things out there you will start to see more results, you will get more done and your business will grow quicker, ultimately making you more money. We didn’t have 10 tactics to create more freedom but we still put out this post because “finished really is better than perfect”.
What tactics do you use to create more freedom in your life and your business??? I’m sure I missed 100 or so great tactics that could easily be implemented so please leave a comment below.
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