5 Steps to Financial Independence
Hi there, do you know that in the process of looking for a happy life, many people are looking for a way to become independent financially?
This is a topic I'm really passionate about. From my own experience, I can tell you that you can create your own financial situation. Read on if you are curious about what I went through. Note that this is not the scenario for "get-rich-quick" platform, you need to be committed for you to be able to make a change in your life.
Step 1. Find out what you can offer
Either you have hobbies or interests or currently working on a job that you have a lot of knowledge about. You can have an idea about the product you can sell. Almost everything you can think of is something that people are willing to spend money on.
The bet way you can monetize what you are offering is the key here. Is it a skill, it is knowledge, it is a product or idea? There are so many ways in which you can sell all of them. All you need is to be creative in what you do.
If you are not sure about what you can offer, I can help you discover it. I'll guide you through the process via online coaching sessions. You can go to my coaching page for more information about the cost and time of these sessions.
Step 2. Free up time
It is important to understand that you need to open up new income possibilities so as to become financial independent. You will probably need to invest time for you to be able to do that.
You'll have to make some changes in your working arrangements. When you are working 40 hours a week, it has a way of depleting you from time and energy. Keep in mind that family, friends and leisure time are also very important in order to keep the battery charged.
However, it takes time and energy to achieve your new endeavors. Not many people are in the luxurious position to make this change with a big bang. But, anyone can think of small steps you can take to free up time which can be invested in your new project.
Step 3. Start your own business
The job is a steady stream of income, but this income is not flexible at all. The salary is stable and if you get a raise, it is usually a small percent or more in the case of promotion. However, the chances that it will lead to double or triple your income is very low.
In order for you to be able to open yourself to other sources of income, you need to start a business. In this way, you have an entity in which money can flow. The business does not usually have one customer, therefore by starting one, the potential of a large number of transactions will be opened. The good thing is that the business usually can make the most of the tax-deductible expenses.
Investing time in what you're offering your audience, results in building this business. Also, it will give you a great sense of purpose. You now can put your money where your mouth is or so to speak.
Step 4. Change your mindset
This is an odd step to put in an ordered list like this. This step can be done first, or at any time during the process. The basic concept is that you have to change your mindset of the scarcity of abundance. I know this sounds easier than it really is. I'll try to explain it a little more.
The world, in general, is abundant, but the people who live on the face of the earth lived in a society that is built around scarcity. From my own experience, I can say that it is a personal challenge to change this believe. You can even get results from unexpected sources. In any case, it's life changing.
So what are the magic trick that you need to master if you want to change this around to your own advantage? This is a question that many people ask themselves nowadays. I was also looking for the answer as well.
The key I found is with confidence and determination. You have to believe that you will have enough to eat, to sleep, to stay dry on a rainy day and give your loved ones. You need to believe that a change of mentality is what you need. Believing in abundance is necessary for you to believe that more money will make its way to you. So you have to be determined so as to be able to change this inside you. You have to rebuild your beliefs and behaviors to match this new mindset.
The subject of abundance is so simple, yet so hard to master. It has a lot to do with personal development and is a very broad topic. Firstly, I wrote my own experiences in order to share them with you. Aside from that, I also coach people on it.
Step 5. Let go and take a leap of faith
So, you have something to offer. You find a way to invest the time to develop it into your new business. You likewise think about this process and life in general, from the perspective of abundance. Now, the time has come to take a leap of faith.
Come on! Get rid of all the old beliefs and customs. No really, letting go of the past is crucial to move forward. Dragging the past along with you is a waste of energy. Believe me, all you will do, in the end, will bring more happiness, freedom, and wealth.
These are the five steps to be taken in order to start your path to financial independence:
1. Find out what you can offer
2. Free up time for this project
3. Start your business
4. Adapt the abundance mindset
5. Let go of the past and have faith in the future
Is that all? No, of course not, there are many things in every step which I can elaborate about endlessly. But it is a good starting point to get you on your way.