For most people, financial freedom is limited to getting a raise or a promotion in their workplace, and having sizeable savings in a bank account or deposits. This is all considered ?normal’ in the ?normal world.
Then one day you look at the rich neighbor, business owner, investor and you think they must be lucky and they probably have `high connections’ that made them rich. You think that climbing to their level is next to impossible since they have these unfair `advantages’ over you.
This could not be farther from the truth
If self-made business owners, investors, `rich people’ have anything in common, it is the Entrepreneurial spirit.
I don’t know about you, but many people I have talked to always seem to think they are unique and have some sort of message to bring to this world. It is true that each of us is unique in terms of appearance, personality, dreams, and nightmares. But most often bringing out our inner message to this world is difficult and usually it is suppressed by external factors and having to `settle down’.
Bringing out this inner message or as I like to call it inner mission, can be done in many different ways but if you don’t bring out your inner mission to the world and realize it you will most likely end up with an average 9-6 job, having an average financial situation and being just an average person in general.
Successful people on the other hand realize the importance of realizing their inner mission and do it by becoming an entrepreneur, a scientist, an engineer, or whatever they might feel that their inner mission is connected to as long as they become accomplished in their chosen field.
Here comes in the entrepreneurial spirit. The spirit is merely channeling your inner mission to this world towards entrepreneurship, it is an inner feeling and yearning for not only financial freedom but also growth. Without growth you cannot have a sustainable financial freedom.
I can tell you all the tips and tricks to manage your money but without a growth and personal development strategy, these tips and tricks are worthless.
How did they do it?
Ask yourself this, why do Warren Buffet, Bill Gates and many others have NOT stopped working and nurturing their entrepreneurial spirit after they hit their first million or billion dollars? They could have spent the rest of their lives travelling, bought their dream home and just kept a hobby or two.
The reason is that their entrepreneurial spirit is almost indestructible and constantly growing. As I said before financial freedom and growth go hand in hand. When attaining their financial freedom their objectives didn?t halt, their inner mission dictated that they should grow more and more by expanding developing more ideas and products that will not only add to their financial status but also for the benefit of their customers, investors, and even humanity.
People on Forbes, Fortune 500 lists don’t call it the day after they have made it into the lists. And it’s not because they are greedy which most of us average people think they are. It is because for them it’s a conquest, a challenge for expansion and making a difference.
You see, most of us are average because our entrepreneurial spirit is absent. We may yearn for financial freedom and start one failing business after another, but the reasons we fail are many. Aside from different strategic business decisions that are a likely reason for failures, I would like to focus on the entrepreneurial spirit as a reason of failure. Even poor business and financial decisions are a result of the lack of entrepreneurial spirit which promotes increasing your knowledge and growth to make better decisions.
Ask yourself these questions:
* How many times have you saved up a decent amount of cash only to spend on a thing or two and get back right where you started?
* How many times have you gotten a bonus or a raise at your job only to feel excited, and then after a month or two when you have spent your extras, you feel depressed and right back where you started?
* How many times have you started a project, and when good business and money started coming in you felt excited and accomplished, only to have the orders stop coming in and eventually close down your business which gets you back right where you started?
* How many times have you had a great idea, only to lose motivation overtime and right back where you started?
If you answered just 1 time, then you need help. There is a clear pattern of returning to square one even if you have a short success.
The reason is that most of us focus only on the financial freedom part but neglect growth and personal development to fully nurture our entrepreneurial spirit.
You set a goal to earn and save up several thousand dollars, you save up the required amount only to spend it and go back to where you started. Even if you manage to save millions of dollars you can spend it all in a year or less and go poor or average once again.
By neglecting the growth part and focusing only on the money, you neglected the fact that without a sustainable and growing source of income you have allowed yourself to make purchases you think you can afford while the truth is you can’t really afford them. A small example would be saving up several thousands of dollars, buying your dream new car only to find yourself unable to afford repairs and gas for such an expensive car. So you essentially save up say 20000 dollars, reach what economists call a stagnation point where you stop saving and adding to your monthly income, after the stagnation begins economic depression where you blew all your saving on a purchase or two and you start saving again. The cycle goes on and on and on, and you never seem to reach your financial freedom goals.
How to cut off the Vicious Cycle
Your primary goal should be growth of your monthly income. You should be constantly setting and upgrading your goal in terms of dollars for your monthly income.
After setting a certain amount of dollars per month to be attained, the hard part comes in. You should clearly define how you are going to attain this certain number; usually it is attained by having different projects, businesses and investments all at once.
Let me though make it clear for you, unless you are a CEO of a multinational corporation, or the President of a country you will never have financial freedom working a job from 9 to 6. Even CEOs and Presidents do not have as much personal freedom as much as you think they would.
Ask yourself, how much time on the job you actually need to finish your day’s work? I willing to bet it’s not more than 1-3 hours of pure work that are needed, yet you sit at your desk all day for fixed amount of payment. So your employer essentially pays you for these few hours of work, but he would never pay you the same for rest of the hours you sit at your desk, he does pay of course officially on paper. Imagine if you give 3 hours of pure work to your employer you can be spending the other 6 hours of the work day working on increasing your own income. But few if any employers will allow you full-time pay for 3 hour work day which is essentially all the time needed to do all the tasks your employer gives you each day.
Starting your business may not be for everyone but there are more ways than that to increase your income. In future articles I shall discuss it and help you attain your goals. Just remember the key for success is having a healthy entrepreneurial spirit that promotes financial freedom, growth and personal development. So if you reach your goals don’t forget to expand and update them.