You most likely have goals for your business and hopefully for your personal life too as your business should support what you want out of life, not the other way around.
There are many ways to be FREE and live a happier life but ultimately they can be pooled together under 3 main drivers:
– Financial Freedom
– Time Freedom
– Mind Freedom
You may not have realised that we are able to help you in ALL of these areas. It’s with our support that we can help you retain your hard earned dosh, pay less tax (legally of course) and this in turn gives you the ability to create the life you really want to live.
So what are these 3 freedoms and how can a business such as ours help?
To most this means having enough money to enjoy the lifestyle they truly want. To have goals for the money you need to be financially free, having the ability to pay your bills and have the all important treats for you and your family.
This number can change as your circumstances change. When I think back to when I was raising 2 teenagers on my own my business had a lot to live up to although we did go without on luxuries such as holidays and takeaways.
Now they have flown the nest, they are not so reliant on me (I won’t say not reliant) but my priorities have changed and I have other ambitions such as travel and converting my campervan.
As the numbers change the amount you need for financial freedom changes too it maybe more, it maybe less. The older we get we should turn our attentions to building some kind of nest egg for retirement as well, possibly even an early retirement.
To get to the zen place of financial freedom you need to look at the numbers in your business, will you need to increase sales, profit margins. What is your target figure? Work out the lifestyle you would like, really visualise what it would feel like; the home, the car, the experiences and things you want to have in your life then reverse engineer it to see how much revenue and profit you need to bring in to make it happen.
Your accountant can of course help with the whole process. Once we know the numbers we can help build a plan to help you achieve it.
Having money is great but if you don’t have the time to use it then it all is pretty pointless. You can always make more money but you cannot get more time.
Time freedom is having the time to spend with your family, to have hobbies, to pick the kids up from school. It’s actually a really important measure of success that many business owners sometimes forget although with the last 2 years being as they have, I think more people are realising now that time is the true gift to give to yourself and your loved ones.
Being able to live the life you want and/or being able to drop the 9-5 sometimes 7 days a week, is massively impactful for your mental health.
My goal is to drop from 5 days to 4 by end of April this year so that I can spend more time doing the things I love camping, hiking, seeing friends, going to festivals. Sure I’ve worked crazy hours in the past as many of us have and I think there comes a time when you realise the benefits of rest and exercise on our mental and physical wellbeing and the positive impact it can also have in our businesses as a result.
So to get back more time look at creating a scalable, saleable business, improving efficiencies so that you and your team are all working from the same structure, it can be handed to anyone in the team and they can pick it up without you having to be there all the time.
Your mind thrives on downtime, digital detox whatever and however it affects you. You need peace of mind to really switch off and be present and of course to get a decent nights sleep.
I know I know, it’s not easy but it’s worth it believe me. Our businesses are an integral part of our lives so it’s natural that we think and worry about them right? Will we ever not wake up at silly o’clock with an idea, or go away and not get inspiration?
This particular freedom is probably the trickiest to nail but it’s possible. Having peace of mind that things are done without you having to be in the office everyday means knowing that your accounts, tax and bookkeeping are all done, filed and correct that tax planning comes as standard with your accounts service and more complex tax planning is there if needed but you may also need support in understand what your numbers mean, are you on track, are you making a profit?
So I ask you again .. how free do you want to be?