| My grandfather had a good job with a company called | | | | National Bank. (your pocket!) |
| Western Auto. He was a store manager and moving | | | | A Freedom Business has low fixed overhead. Fixed |
| up fast. But he wanted to "do his own thing". So, he | | | | overhead is the enemy of this type of business |
| bought a shoe store franchise and went into business | | | | because it does not allow you to make quick changes. |
| for himself. Shortly after buying the franchise, the | | | | Often you have to keep doing things the way they are |
| franchise closed so he changed the name of the store | | | | just to pay the bills that fixed overhead created. |
| and kept going on his own. He ran that store for the | | | | A Freedom Business is often portable and very |
| next 30 years and made a decent living with it. The | | | | flexible. This allows you to take longer periods of time |
| problem was not that he had his own business, the | | | | off. You can often gun it for a period and then step |
| problem was that he worked 7 days a week for | | | | back. In my business, the summer and fall are great |
| many years, 10 to 12 hour days. | | | | times to earn, then from Thanksgiving to New Years |
| So, he had not gone into business for himself, he had | | | | Day, we take most of the time off. This allows us to |
| bought a job. A job with more risk, less pay at the | | | | structure our lifestyle to the way we want. |
| beginning and a lot more hours. I guess I did get some | | | | A Freedom Business has few to no employees. You |
| of my grandfathers characteristics, because very | | | | may be surprised to see how big of an income you |
| early on I knew I needed to have my own business. | | | | can build with outsourcing projects and maybe one |
| The major difference is I did not want to work any | | | | key employee. I know several business owners that |
| where near those kind of hours. So I set out to design | | | | have gotten to seven figures with one employee. (I am |
| my work life and after a number of failures, I am there. | | | | not there yet, but coming on strong!!) |
| I now have a business that runs with little management. | | | | A Freedom Business can use partners but you don't |
| Frequently, I spend 10 to 20 hours a week in this | | | | want partnerships. Here is the difference. A partner |
| business and it shoots off a healthy six figure net | | | | can come on for a specific purpose or a specified |
| income. It took me several years to get here, but now I | | | | project, but does not retain ongoing partnership rights. |
| can go out and do it over and over again. I have | | | | These are primarily called Joint Ventures. A partnership |
| created what I call a Freedom Business. Most people | | | | is often doomed to failure as each parties needs and |
| want to go into business for themselves so they have | | | | desires change. |
| more freedom and control, but they end up with a lot | | | | A Freedom Business often has a Big Hit component. In |
| of risk and stress and insanely long work hours. Pretty | | | | my business, I keep steady and busy for most of the |
| soon that business that you thought would bring | | | | year. But a couple of times a year, I get a job that |
| freedom is a burden. | | | | sends profits way up. So I would be profitable at the |
| In this article, we will focus on some characteristics of | | | | end of the year without these hits, but they add as |
| a Freedom Business and in further articles we will talk | | | | much as 40% to my net profit.... |
| about how to build one. | | | | A Freedom Business is designed to give you options |
| A Freedom Business is quick, light and nimble. This | | | | and choices in your work life. If set up properly, it can |
| allows the business owner to move freely from one | | | | be a machine that runs more and more efficiently and |
| opportunity to another. If you are a big operation that | | | | allows you more and more freedom. |
| specializes in only one area or one niche, than you are | | | | We have an analyzing tool that we use with our |
| in trouble in the industry changes or the economy | | | | coaching clients that shows you in a matter of minutes, |
| changes. | | | | if the business you are in or looking at has the potential |
| A Freedom Business focuses only on NET. Gross | | | | to be a Freedom Business. This can save a lot time |
| income is only important if you want to one day sell | | | | and energy and money chasing the wrong opportunity. |
| your business to a big corporation that has more | | | | Stay strong and focused on building a Freedom |
| money than sense. For your business you want net, | | | | Business and you can wake up living the life you have |
| the money left over that is profit and goes in the Hip | | | | always wanted. |