Bringing a new business into the world isn’t much different from bringing a new child into the world. It’s exhausting, keeps you up at all hours, and everyone has the perfect advice for you. Which, given your sleep-deprived state, you could probably do without! Good thing our Cash Flow Cure coaches know what they’re talking about and have been around the block a few times. Today they share the advice you really do need as you begin your journey as a Business Owner.
Make Sure This Is The Right Path
If your business isn’t going to move you toward Freedom, then you may need to consider a different path. Coach Julian Musgrave explains why.
“Let’s sit down and make sure that when we understand what Freedom looks like to you and your family and that the business is the right vehicle to get you there. Better to find out now than 20 years down the track when it turns out it was just a job with 3x the stress, half the income and 2x the hours. You now have no retirement income, nobody wants to buy the business, and it’s too late to start again.”
Find Your Village
You need a tribe to motivate you, encourage you and help you to the next level. Coach Laura Huntley recommends finding a person or a group whose work you admire and follow them closely. Then, find a tribe (like your fellow Cash Flow Cure classmates!) to keep you going!
“The life of a solopreneur can be lonely, and you can really get caught going down a lot of unnecessary rabbit holes. My advice is to get a Mentor. Join a group, something that gives you access to successful people that help you through encouragement and advice. You’ll be amazed at the creativity and support that will come from that. I can also help you avoid a lot of unnecessary mistakes. ‘Success leaves clues.’ I love that quote. Find someone that has accomplished or is accomplishing what you want or more and learn from what they do. The other advice I would give is to be the person you want to attract.”
Align Your Business With Your Financial Freedom
Freedom is your goal. Work to make your business support that goal. But remember, no one gets it right every time. It’s okay to tweak your finances and processes until they work for you.
“Look at your personal world first. What is it that you need to meet your living expenses now? Ensure your business can achieve this as fast as possible. You don’t have to be perfect, just step in. If you don’t get it right, adjust and go again. Always ensure your business is aligned with your primary goal in life: Freedom!”
Strategy, Strategy, Strategy
Coach Mick Aspinall knows all about strategy. After all, he’s a pilot by trade, and strategy is a huge part of his job. The same type of strategy he uses in the air works in business, too.
“Begin with the end in mind–an ounce of strategy will beat a pound of tactics every time! Consider needs versus wants, and focus on the needs. Consider what is important versus what is urgent, and focus on the important. Most importantly, you are not your business. True Freedom lives outside your business!”
Mick Aspinall, Founder and CEO, Factor Performance
Some answers have been edited for length and clarity. The views and opinions expressed are those of the guest author and do not necessarily reflect the views and opinions of MindShift.money.