As a professional, one of the things we strive for, is financial prosperity.
We want to be able to go on vacations without worrying about the costs, or support our children financially through the university, or have sufficient savings for a safe landing after retirement.
Everything in the previous paragraph can be attributed to financial freedom. Financial experts like Robert Kiyosaki and Napoleon Hill advise that this can be attained by simply being independent. How?
From the time we were younger, the norm has always been to go to school, get good grades, attend university, get a good job and live a comfortable life. While it is right, the formula doesn’t address the importance of being independent.
There are more benefits in being self-employed than toiling and looking forward to a monthly pay check in your personal account. In the latter, you have more time for yourself, including attending you sons football game or daughter’s school musical performance.
Being financially prosperous means never having to bother about whether you can afford those things that really matter. It doesn’t necessarily mean luxury.
The following are some tips to achieving independence (becoming an entrepreneur):
1. Identify your passion
There is a popular saying, “Find something you love doing, and you will never work a day in your life.” While it is not exact as easy, it does make a point. We all have something we are talented at, and while some people take years to discover their gift, others find it as early as childhood.
Take the case of musical prodigy Wolfgang Amadeus Mozart who began composing symphonies before he was 10. Some people are born with talent, others learn it. However you acquire yours, simply be extremely good at it.
2. Find a way to monetize it
It is one thing to identify your passion, but it is a different thing to make a living from it. This is usually easy for artists or sports athletes, but for others, it is not so black and white. It may require extra learning- if you want to manage yourself. Conversely, some extremely good people hire a financial manager to help them organise their skills and make a living from it. Here is a guide to monetizing your skills.
3. Choose the right partner(s)
No matter what they say, two heads are always better than one, provided they are well-informed. Sometimes, it is difficult to navigate solo in the business world. You want someone to be the voice of reason, if you are impulsive, or the risk-taker if you are too cautious. Either way, a yin and yang partnership help businesses to shape ideas from a diverse perspective.
- Plan and plan again
Taking a decision as important as becoming an entrepreneur is a mighty big step. You want to plan thoroughly before making that leap. When you have identified your skills/strengths, and how to make money with it, discuss goal setting with your partner(s). Where do you want to be in the next 3 – 5 years? How do you plan to get there? Adopt a SMART strategy.
Becoming independent is not something that happens overnight, and the rewards come even slower. It requires commitment, dedication and smart work (lots of it). When you keep to you goals and maintain a practical consistency, your financial prosperity will be inevitable.