2nd Guiding Principle
The first duck to get in place is: It’s not all about you!
You may have a spouse and/or family members. What does the concept of building financial freedom mean to them?
Take a long hard look at your situation – do you know where you currently are in the greater scheme of things financial?
What steps might you take to measure and control the finances in your business and in your personal life?
Money – most of us spend too much and make too little. What effect will this have on your row of ducks over time?
So, you’re going to need a plan!
To draw up a plan you need to know which are the best things to put in it, an idea of what the plan needs to achieve and what a success would look like. Oh! and when will all of this happen?
There really is a lot to think through and it’ll take some energy and commitment.
Here’s some more ducks to straighten out: how do you make more money? If your revenue comes mostly through your business, what can you do to improve profits?
How do you spend less money – besides the obvious (drink less coffee/wine/beer and sell the Merc!), what else is there?
How about looking at your tax structures, your insurance payments, your mortgage repayment scheme. Errr... and your credit card habits! Now you know why your spouse needs to be involved!
Wow! However, with commitment to making a plan, and commitment to following the plan (much harder), it can happen!
Once you begin to approach the wonderful world of 'surplus' what should you do with it: invest? Why? Where? How?
If building financial freedom were easy, everyone would be doing it. How many people do you know who have achieved this?