Money is not the only answer but it makes a difference- Barack Obama
Human beings have various parts that complete them, this include Spiritual, Health & Fitness, Family and Career & Financial. Our needs for each of the various blocks vary from person to person and they are largely influenced by the environment we find ourselves in but, occasionally we have seen people get above the norm and achieve significantly more on one value compared to the others. It is good to note that people are driven by different things that form the core of who they are e.g. Martha Theresa was a spiritual person who wanted to see the world a better place for all while looking at Elon Musk is a businessman who wants to change the world differently and make money doing it. The aim is to always have a much-balanced life and no wonder we have seen a lot of debate on work life balance and work life integration. As we were growing up most of us had career aspirations and the key driving force was either to make a difference or at least make some money.
Below is a summary of the key steps required as you start your financial freedom journey:
- Self-Awareness: Set out your soft issues, understand your current position putting into perspective your overall objectives, your beliefs and what drives you. Most of us have done things that are not in line with what we believe in either because of fear or not knowing when and where to create boundaries. If you do what you like doing you live a more fulfilled life and your work or business does not seem like work anymore.
- Look at your current resources: Resources can be in different forms: time, money, relationships, personality etc. Understanding what you have and what it can be used for is a key starting point as it helps you know what assets and what baggage you need to lay off. All the resources are finite and that is why the way we employ them means a lot and we need to ensure that we put them into the highest and best use.
- Create an Execution plan: Depending on what stage you are at, plans vary with some of them being rather short term meaning you can easily achieve them eg if you need to bid for a certain business and what stands on the way for you is maybe a critical certificate like the registration with AGPO and that can take a week for you to get it while others need just time for example if you identified that what you need to do to get to the next level in your career is to undertake some course or go back for some academic papers you might need to be patient and take time required to get the said papers. The execution plan helps you see how far you are from attaining your goals.
- Starting: There is no plan that can be achieved without taking the first step. If it is starting a business you must begin with something as basic as registering the company or even just telling someone about what you want to do. One of the key things about starting is knowing when to share your idea, who not to share the idea with and starting to implement the sketch. If you ask many people who have started anything, the actual thing that they currently have as a success story is very different from what they had in mind when they were starting. So, for as long as you have the general direction of what you want to do the next is to start as you shall always refine it on your way.
- Creating a feedback Loop: Being human we shall make mistakes more often than not, the key is how do we rise above the mistakes and how do we change tact and get back on track. Remember “You have to make mistakes to find out who you aren’t. You take the action, and the insight follows: ``You don’t think your way into becoming yourself.” - Anne Lamott. With the changes in the world, the people who make it big are the people with significant adaptability capability to take advantage of the new opportunities while alighting from the train that is taking them nowhere. Creating a disciplined way to take stock is very important. This can be in the form of having a coach/mentor, creating processes of accountability if you are working with a team etc.
It is therefore very important to ensure that your financial goals are in line with your other goals and they both move in the same direction. We have seen many successful people in business in their later years saying they would have loved to have spent more time with family. For you to completely say you are on the path of true financial freedom it has to not conflict with your inner self.