Happy Friday! I wanna share a little story of an interaction that occurred a few weeks back. It was on a Friday, not unlike this one. I stopped into a business to buy some supplies. While waiting for the credit card receipt to print, the friendly guy at the register asks "got any special plans this weekend?" I reflected for a moment and responded, "I guess I haven't thought about it." I hesitated for a moment before I went on to say "I like the idea of having freedom over my time so I don't have to wait until the weekend to do what I want to do."
At that moment, I noticed a small shift in his face. I'd describe the look as a mix between excitement and disappointment. He proceeded to tell me how he would love to do his own thing and not work for anyone. I could tell that he wanted to escape his 9-5 so badly but felt hopelessly trapped. He mentioned having the responsibility of having two children and so on. I understand where he's coming from. I mean, leaving the "security" of a regular paycheck can seem like a scary thing.
BUT, at the same time, I could tell he wanted to experience a different reality. And I know a lot of you want to as well. My last post on financial abundance struck a chord with many of you. I received a ton of emails where many of you shared your desire to change your current situation. But it seemed like the biggest challenge was knowing where & how to start.
Ok, now that I got that out of the way, let's move on. Basically, there seem to be two different paths to freedom.
PATH : Person A works full time and starts business on the side that eventually becomes a full time income source.
PATH : Person B is unexpectedly laid off from their job and, starts a business that eventually creates their financial success.
In both of these scenarios, there are two factors involved: TIME + MONEY. Time and money are your keys to creating the life you seek.
In scenario 1, person A has a limited amount of time but has access to money (via her paycheck).
In scenario 2, person B has limited amount of money but has complete access to use her time to create income streams.
I fell under the first scenario. My time was extremely limited and I received a check every two weeks. Team, I worked 50-70+ a week. It was not uncommon for me to be on conference calls at 11:00 pm. Once we were on a call that ran into the next morning. Not to mention the times when I'd wake up at 2:30 am, work on my side projects before leaving the house at 4:00 am to catch a 5:30 flight. I pretty much worked through every weekend and operated on very little sleep. It was insane. But, I'm grateful for all of that because it helped me get up every day and work with great intensity to change the situation. If I had a job where I was home every night by 6:00 pm, I may not have felt the burning desire to keep pushing forward. Your time is VERY valuable. You have to realize it's value and redirect how you spend your time. I know a few people who tell me they want to create freedom but they don't utilize any of their free time to changing their situation.
Here's how I feel about using my time to create my future. When I wanted to start my career, I spent hours in classes to get a degree so I could get the job. Why wouldn't I allocate my time to create my new "career?" The harder you work now, the harder you get to play later. Yes, there were years when I couldn't really "enjoy" free time, but yesterday I went for a 90 minute massage at 9:30 am when most people are starting their work day.
Actually, let me clarify, even though I worked like a madwoman, I still did things like go out to brunch, visit the mall, etc. But when I was home, I was always working. If I'm watching online t.v, I opened a second window to work at the same time.
Because the amount of time I could contribute to my projects was limited, I adjusted my budget to save a good sized portion of every paycheck. It may seem like I spend all my money on hair products and beauty tools, but believe me, I saved way more than I spent. Without money in the bank, there's no confidence to finally make that decision to venture out. I also invested some of the money into building my entrepreneurial skill set (invested in coaches, courses, etc).
There was a lot work I needed to do on my mindset. For instance, I built a successful career that paid well. I had a company car, expense account, enjoyed wonderful dinners, free trips, stock options, you name it. I essentially had on a pair of golden handcuffs. Leaving that type of environment is scary to say the least. So I had to let go of the belief that this job was the only way I could enjoy that type of lifestyle. The new belief I took on was that I could earn even more through my businesses. Even if I didn't earn more money, the time freedom would make up for the difference. Working for someone else is optional. I also had the option to create freedom.
When I first ventured on this journey to financial and time freedom, I had no idea what I wanted to do. I know a lot of you are in a similar situation. Because I didn't know exactly what I'd be doing, I focused more on the lifestyle I wanted to live. I fantasized on what I would do with my free time. And I kept repeating a mantra that I've had for years. I've always told people that earning money from a business (or online) is superior to working because the growth potential is so much greater.
Towards the end of my work life, I'd laugh silently to myself when my supervisor informed me of my 3% annual increase. The revenue I generated online, on the other hand, was growing exponentially. Although I wasn't making anywhere near what I earned at work, I knew that it could easily over take it based on:
(1) how fast it was growing,
(2) there was no limit on how much I could earn.
It's like being given the option of $100,000.00 now or one penny doubled every day. Having a fixed income is like choosing the $100,000.00 up front. But a penny doubled every day will grow to over $500,000.00 in 30 days.
Again, I go back to my initial advice for your to earn your first $1.00 outside of your job. That dollar has so much power in it. That measly little dollar can turn into millions if you keep getting better at what you do. Again, you have time and money at your disposal. Use them both. If you don't know what to do next, find someone who is doing what you want and model their path. If you'd like to connect with me for more insight, drop me a note.
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