We all dream of waking up one day without a care in the world and having the financial security to be able to do anything we want (well I do anyway). Although this would eventually get boring as most entrepreneurs report, just being able to do anything at anytime with no obligations of a job or mortgage would be awesome. I’d like to think that I will be able to achieve financial freedom within 7 years by following several steps, as everyone has to start from somewhere. For example this guy did not get 99 mil in the bank without starting at the bottom. Here are certain steps millionaires followed in order to achieve financial freedom.
#1 Don’t Spend Money You Don’t Have
You may have heard this from Warren Buffet or other highly successful entrepreneurs, however the first step is to never spend money you don’t have. The reason Warren Buffet stated this may have been because it is a simple financial trick that most people use to stay debt-free. For example you have just seen the new iPhone come out and you already have the previous iPhone, unless you can afford to buy it financially, theres no reason to buy it. Most people seem to waste money they do not have, and borrow money on credit cards and try to play out that they are rich and have a lot of money because they can buy this and that, however they are just lying themselves and can not get out of the big financial hole they have dug themselves.
#2 Save, Save, Save!
The best thing most people find, to ensure they have financial freedom in the years to come is by saving their money and putting together a budget for their expenditure in order to control their money cash-flow. You may have to get used to saying the word no to yourself, to your friends and family members because you can never preserve wealth if you just lend it out or spend as much as you get on your income day. It is good that you are earning money don’t get me wrong, however without budgeting your just going to spend it and not use it wisely when it comes to any business opportunities.
#3 Network with As Many People As Possible
Look most people that have gotten to the top have not done it by themselves. Think about it logically, in order to make around 100 million, or even a fraction of that amount you need to know people that know people. So your task or goal should be to network with people that are in your field, or can help you achieve what you are trying to achieve. For example for someone that wants to launch an online social business, you would try to to network with people that know a lot about the topic, you would network with web designers, programmers, CEO’s of certain companies. The best thing about networking in this day and age is that it has been simplified due to how easy it is because of LinkedIn, Twitter, Google+ and many other social networks. Now remember if you don’t have anyones backing at the moment don’t let it put you off, people want to see what your capable of doing, so show them a preview and they will see your potential.
#4 Start Now, Rather Than Later
Look we do not know what the future holds so start now if you are thinking of doing something. I do not mean this literally, I mean it in the sense that if you do not have the money now to put into your business idea, get a job and work on it whilst you have a job and network with people, you will be surprised that most people want to help if it is a good idea. Most people think of excuses, such as I don’t have time because I’l be tired after I get home from my job, however with that thinking you will most likely never become as wealthy as you had wanted. I have noticed in today’s society that most people talk a lot, by talk I mean; they do not back up what they say by actions, as Thomas Edison once said Success = 1% inspiration 99% perspiration. It is all about executing your ideas and not leaving them to melt as nothing results from nothing.
#5 Magic Formula?
I’m sure everyone was thinking there is some sort of magic formula to success? Don’t you get it most these people that are super rich breathe money, they see what they can do to make more money they are always on the lookout. They have no morals towards money, they just think about profit, why do you think people get laid off even though their bosses are still getting multi million bonuses because profit is what they care about. Have you ever heard the saying “good things happen to those who wait” well that complete …. Good things happen to those who make them happen! So to get financial freedom you basically have to start now, don’t waste money you don’t have, network with as many people in your field as possible and save save save for when your ready to execute. And a last tip, if you come onto something good, sell your first company as fast as possible, you can always make more money on your next idea. That’s what I’l be doing in the next 2 years and so should you. Also follow on Twitter: Follow @Entreprenkorner
Do you want financial freedom badly? or does the grass always look greener on the other side?