LETS DISCUSS THE FIRST OF THE 3 FREEDOMS – FINANCIAL FREEDOM
In my last blog I touched on what we have discovered working with our Client’s in the coaching space. What we have noticed is a reoccurring theme from Clients like yourself that what you really want is help with the 3 Freedoms, which are:
Financial Freedom – is all about having the money and sufficient Cash Flow to be able to do what you want when you want without worrying about the Cash.
Time Freedom – is really about having balance in your life to enjoy the things outside of work without stress.
Mind Freedom – is the ability to sleep at night and having peace of mind that things are as they should be.
So Lets look at the first Freedom in more detail:
What does it mean to have Financial Freedom? Why is Cash Flow So Important?
Because Cashflow is Reality.
Over the years we have seen many good businesses that have fantastic Turnover, strong Profits but lacks the appropriate Cash Flow to give the owner the income they desire or even survive and as a result the business struggles, the owner ends up working longer and harder for no benefit or worst case the business dies.
We talk about Cash Flow being the reality for every business and going further it is the life blood of every business….. that keeps your business alive and allows you to enjoy your desired quality of life.
So what in your Business is stopping you from achieving Financial Freedom? I ask this as every business owner is different and what could be stopping one person may not be stopping you….
Some Common Issues:
- Not knowing where your cash goes?
- Lack of understanding of your Breakeven point?
- Not knowing what drives cash in your business?
- Insufficient Turnover for your lifestyle?
- Are Customers paying you late?
- Do you struggle to turn Leads into Business?
- Are you Discounting prices?
If any of these issues are ringing bells for you or you want help to identify your issues so you can have greater Financial Freedom, come and talk to us about how we can work together so your business can help achieve Financial Freedom.
In the next blog we will look at the second Freedom, being Time in more depth
Written by Alan Jarvis