An upward journey through class status to financial independence involves both slow and fast routes. Both slow and fast routes have three resources in common that determine what path you will take: time, energy, and money. Some Common Situations People Find Themselves In Here are some common situations I have been in or others I know have been in:
·0 You have enough of money, but very little time to invest in a vehicle that will get you to financial freedom.
·1 You have enough of time, but very little money to invest in a vehicle that will get you to financial freedom.
·2 You have very little time or money, but the energy to do something about it. ·3 You have very little time, money, or energy. Some Common Solutions
·4 If you have extra money but not enough time, you can pick a business that you could outsource some of the work to others you trust and/or run marketing campaigns in order to grow your customer base. If you have a lot of extra cash flow and no debts, you could seek out profitable investments and investment strategies.
¡5 If you have extra time and/or energy but not enough money, you can pick a business with low to no marketing costs to begin with. I like network marketing businesses that have products with such great quality that "sell themselves."
¡6 If don't have either time or money, you need to "reposition yourself financially" in order to move forward or find a business team that will be able to do the work you can't do without a fee, but because it also benefits them. Again, I hate to sound trite, but many of today's network marketing companies are set up so that when you get ahead in business because it also benefits your sponsor. Therefore, no money is involved initially to help those you sponsor, but the benefits can follow successful team work if you can teach those on your team how to become independent business people over the long haul.
¡7 If you have very little or no time, money, or energy you have basically two options.
1. You need to reposition yourself somehow so that you have more time, money, or energy. This could involve solutions like getting another intitial job, paying off debt including mortgage, or other game changing goals. 2. You can lean on to a team as a resource until you reach the ultimate goal of becoming an
independent business person. This would involve a type of "tag team situation." There would need to be clear agreements between individuals about this situation ahead of time. Strategies For "Upper Class Positions" As an individual seeks employment promotion, he or she ends up in a position where they get paid more money, but also have more responsibilities. Over the years I've seen some people hurt themselves and their families in various ways and others do okay. Here are some strategies you can use when in these positions.
·8 First of all, you can "enter with an exit in mind." The reasoning behind this approach is many of these type of positions seem to involve a lot of business politics. Although they may provide "flashy statuses," they are not always all that they are cut out to be. You could get fired simply because you don't fit into the company culture, your family and social life may suffer because of long business trips, and so on. Having another less demanding career skill set to fall back on and/or a side business you are working on developing into a stream of supportive income would be two ways of creating that exit you may need.
·9 Another strategy you could use in conjuction with the first is to be out of debt entirely or almost entirely. And when I say "out of debt," I also am thinking of mortgages. When this happens, your monthly expenses are significantly lowered.
·10 Have healthy habits that keep you on track as an individual. These habits need to be part of your everyday life. They could include examples like calling your wife everyday, staying in touch with your kids, exercising, meditating, relaxing, and so on. The Final Financial Goals Your final financial goals need to involve your own financial independence. Here are a couple of options that would help you reach this goal:
·11 A "lifestyle business"- Some of us know by now that sitting at home on the couch is not fulfilling, but depressing. As people we want to feel productive and like we are making progress in our lives. A lifestyle business is work you can do that doesn't feel like work, but pays you and gives you a degree of satisfaction and fulfillment.
·12 A business that creates residual income. Residual income is money that you work for once, but continues to pay you over time. Two businesses that I'm involved in that do that are affiliate marketing and a network marketing business called Arbonne. https://theinspiredandinformedlife.com/start/home http://SteveKMartin.arbonne.com/
¡13 Creating passive income through investments. This could involve a number of things like real estate, stocks, commodities, etc This type of investing involves education and practicing what you know gradually.
¡14 A combination of the above solutions.
Bringing It Together Three resources determine the path and speed a person moves toward financial independence: time,money, and energy. Depending on the path a person choses, knowledge and wisdom needs to be obtained for an "easier more focused ride" to the desired destination.
So Where Are You Now and What Next? In your own upward journey through class status to financial independence where are you now, where to next, and what knowledge and wisdom do you need to discover for an easier and more focused journey?