I have finally decided I want more! More of the stuff I like and less of the stuff I don't. Sure we all think this at time, but what do we actually do to get it? I have taken some risks and chances to get on the road to time freedom. It's not for everyone, but if you are keen to get more time, travel, life and less work, pressure and stress - then this blog might be for you. Below I discuss the four things I am doing to give me back ownership of my time, money and life. Enjoy!
Vietnam holiday, amazing!
Here are the four things I am doing to get more of the life I want
1) Start your own business
A few years ago I stepped off the corporate treadmill and started my own business Social Star. I wrote about my 'Why' in this blog so if you are new to my story (welcome!) but read the blog to catch up.
The key to starting your own business is to be prepared. Don't just jump ship tomorrow without a parachute. My exit from corporate was quite sudden, but I already had a business I was running on the side so it was a lot easier for me to take that full time. I only had 4 months income, but I had all the other assets I need to scale quickly and we were making profit in month two.
I recommend having 6 months income in the bank, a strong network, current clients who have road tested your product and your digital profile (website, social media, LinkedIn) to ensure you can scale quickly. If you start taking action now, in 18 months you could be ready to jump into your own business and start the next challenge of your life!
Sure it is risky to start your own business and you sure work hard at first. But if you follow the right path you can release yourself from the day to day workload in only 2-3 years. Then you can spend more time doing whatever takes your fancy. For me, more travel, fitness and kid time. I already have flexibility in my time which is fantastic and soon the freedom.
If you want to know more about setting up your own passion business check out our courses.
2) Reduce your expenses
I can't possibly reduce my spending! I hear this all the time, in fact I use to say it when I was in corporate and had a $10k AMEX bill EVERY MONTH! Whey drink domestic when you can have french! Let's fly business and bespoke clothes were a must - rubbish.
If you want to change your life, you gotta make some changes. Some are hard, but it is worth it in the end. When I started my own business I HALVED my spending in a month. Basically I gave up all the non essentials so that my new business wasn't weighed down with high monthly wages payments.
I didn't change my lifestyle drastically, just altered some choices. I flew economy, I camped with the kids, I ate at home more, I bought less clothes, had less stuff, reduced my non-essential costs. Basically I tightened my belt. But I still traveled to Bali, USA, London and Vietnam in the same year!
The funny thing is you get use to it and any extra money seems like a blessing! So you appreciate it more and are likely to save it.
3) Ensure you are protected
If you are going to risk your income on a new venture, don't risk your families future. Get insurance and make sure it fully covers you. Recently I upgraded mine as I realised I wasn't fully covered in my business and realised how exposed that left my family and shareholders if something should happen.
Get personal cover for death, total and permanent disability and income protection. There are ways to make this very affordable so get some quotes. I can highly recommend my guy so contact me if you want some details.
Also ensure you are insured by the business for any debt or fees involved in leaving your business. I discovered that you have to pay tax on business payouts so ensure you have enough cover. The worst thing in a tragedy would be for your family to have to untangle you from your business.
4) Create a secondary income
When I was working in corporate I didn't really need a second income. However corporate life is fickle these days and you never know when the next take over and retrenchments are going to be. So I started Social Star as a Plan B income source and because it was fun to run. Lucky I did as when I suddenly left my job, it was right there to provide me with a chance to start a new life in my own business.
Today, I run Social Star and love it. But I still have a Plan B income source, this time in travel. As a Independent World Ventures representative, I get to travel for ridiculously cheap prices and help others to create a bit more freedom in their lives too. Pretty cool yeah!
I got involved as I really want to travel more with my kids and knew I couldn't really afford it at retail prices. This business gives me the opportunity to take trips more regularly and earn points for doing so.
I'm all in for the business side of things too because the people I get to hang out with are top notch. Yes it's a MLM style of operation, but get over yourself and start looking at the big picture of how to release yourself from the day to day travelator of work. If you keep doing the same thing as everyone else, guess what, you're going to have the same result.
Contact me here if you are keen on talking about getting more travel in your life and check out this video.
I recommend everyone to find something that you love as a secondary income source. At first it was Social Star when I was in corporate. Now it's travel so I can take my kids away more, make a few dollars and mix with inspiring people.
So I ask you a question. What's your plan to stop being a sheepeople and get back ownership of your time and money?
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