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How do you build a profitable business so that you can do anything else without worry or concern for money?
There’s nothing more special than having freedom. We have the freedom to create a life that we want – freedom to live, work and play, to dream and follow our goals.
Having a business is the key to unlocking financial freedom. Let’s talk about how financial freedom starts with you and how you can begin right now.
In terms of business, we like to refer to “financial freedom” as freedom from financial worries – freedom to enjoy leisure time, family time and personal time. How do you build a profitable business so that you can do anything else without worry or concern for money?
Maybe you want to own a bakery, spa business, restaurant franchise, marketing agency, etc. Or, maybe you want to start something completely new and unique that no one has ever seen before. You have the freedom to pursue any dream and make it a reality. When you do something you love, it’ll be easier to create financial freedom. With some hard work and patience, the business of your dreams can become a business-in-the-making. Once you have found what you want to put all your time, energy, ideas, innovation and creativity into, you’re ready to take it a step further.
Let’s say you want to own a tech business. You may find that there are already many out there who are doing what you want, but nobody is focusing exclusively on a specific aspect. It could be an app or feature that’s NEVER been created before. This means there would be no competition and a need not met by anyone else! This gives you a clear advantage in your market and helps set you up for financial success.
Business plans are incredibly important and can help business owners avoid problems before they happen. You may be unsure if your business idea is viable or not, which is why with a small business, it’s always good to test the waters first.
Debt is the killer of business and financial freedom! This means that you should not take on any debt before starting a business unless it’s for something like equipment or supplies immediately needed for start-up. Instead, get out of all credit card debt and loans as soon as possible so when you do start your business, you can start building wealth right away.
Investing is a business in itself and it’s crucial for business owners to know that there are plenty of risks involved, but also huge rewards. You want to make sure you invest wisely, diversify so they’re not all in one place or company, and always have enough money set aside for emergencies.
If you’re looking for business advice, this is one of the best tips I can give: investing in real estate may seem risky to some, but it’s actually a really good way to grow your wealth exponentially, over time. Having a passive income can help you grow your business even more and provide you with the financial freedom you crave.
A New York Times bestselling author, Cardone is the world’s No. 1 sales trainer and an internationally renowned speaker on leadership, real estate investing, entrepreneurship, social media and finance. His privately-held companies have annual revenues exceeding $100 million. Forbes named him No. 1 of the “25 Marketing Influencers to Watch in 2017.” He regularly appears on Fox News, Fox Business, and MSNBC and writes for Forbes, Success Magazine, Business Insider, CNBC, and Entrepreneur. He urges his followers and clients to make success their duty, responsibility and obligation. He currently resides in South Florida with his wife and two daughters.
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