Finally lets look at our last Financial Freedom – Mind Freedom
I have touched on the First Two of the Three Freedoms in my previous blogs which I recommend reading if you haven’t already.
Financial Freedom, having sufficient Cash Flow to enjoy your desired quality of life and
Time Freedom, making sure you have balance in your lives to enjoy things outside of work.
In this blog we take a closer look at the final Freedom:
The ability to sleep at night without worrying about your Finances and your business or how you will pay your bills tomorrow…
It is all about having the peace of mind that things are as they should be, whether you are comfortable that risks are being managed, no tax surprises and the business is resilient enough to sustain a downturn should one come along. The recent Covid lockdowns being one example which effected businesses on a global scale.
So, coming back to the fact that over the years we have seen many good businesses that have fantastic Cash Flow and Turnover, Strong Profits and yet the owner always complains the business keeps them up at night?
Why is this?
They lack Mind Freedom, and someone once said….
The business should deliver you the cashflow you need and the discretionary time to enjoy it.
So what in your Business might be stopping you sleeping at night and achieving Mind Freedom? I ask this because every business owner is different and what could be stopping one person may not be stopping you!
Some Common Issues:
- No clear Plan for the Business
- Lack of good Systems
- Lacking sufficient Working Capital
- Unsure about tax payable on current year Profits
- Not having the right people in the right jobs
If any of these issues are ringing bells for you or if you want help to identify your issues so you can have greater Mind Freedom, come and talk to us about how we can work together so your business can help achieve Mind Freedom.
At Jarvis we have a saying, “our fees and tax should not be a surprise”, so if tax is a surprise, then contact us to talk about our no surprises Fixed Fee and Compliance services.
In the next blog we will wrap up the 3 Freedoms and next steps…
Written by Alan Jarvis