There’s a strategy of Entrepreneurship Time Freedom that is often overlooked in the quest for success and money. If you are mindful of strategy while developing your entrepreneurial business, time freedom can be part of the scenario that unfolds as you grow.
My loyal readers have been asking where I’ve been.
They are curious what I’ve been doing in the past few months since I’ve had much less online visibility and interaction.
Surveys have indicated that many who are exploring entrepreneurship are as intrigued by the time freedom potential as by the money potential. There is both truth and fallacy to the expectation that owning your own business will open up hours of time and freedom, while the money keeps pouring in. The truth is that’s it’s possible. The fallacy is that it’s easy. Many (most) never get there – instead they are sucked up into the vortex of the running their entrepreneurship machine – or their business doesn’t ever really get off the ground.
Every day for the past two months I have taken a moment to count my blessings and be thankful for the time freedom my hard work and family arrangement has given me. I am grateful that though my focus was required elsewhere, my entrepreneurial pursuits continued to provide income and opportunity
Without sharing all the details, suffice to say that to finish the school year academically without pushing the limits of my child’s school’s intolerance and unskilled social guidance, we decided to create a hybrid of school and home-school . It turned out to be a wonderful decision in so many ways. The growth, responsibility and understanding that unfolded for my child in the past two months was a beautiful thing to observe.
How am I able to run a business during a period time devoted mostly to parenting?
When I began my entrepreneurship journey over 20 years ago, my goal was income, time and freedom. Recently when speaking at Westminster College Gore School of Business, to a class of MBA students I illuminated the choice we entrepreneurs all must explore – the decision as to which values move to the forefront. For me, Freedom/Independence takes the lead. I will leave money on the table in order to maintain a lifestyle that I have chosen. This decision is not for everyone, or even for many. The people who step into the entrepreneurship realm are often driven to achieve greatness and part of their definition of that is”highly financially successful”.
For me, money is good. I like it. But it is not one of my three top drivers. My top core values are Time -Freedom – Impact. The fact that I can earn very good money while embracing these values, is wonderful.
Throughout my career(s), I have made decisions that keep my highest goal in the forefront. Thus while I was sitting in my child’s classroom, my strategically organized business was working for me. When I was deeply involved in teaching the 7th grade version of post WWII Germany, the strategy I have worked consistently to perfect, was putting me in front of prospective clients, joint venture partners and colleagues. New opportunities presented themselves during this time period. Existing clients thrived. My marketing list grew by 20%. All because of a well structured strategy put in place to provide the freedom of time when necessary.
You have the opportunity to make choices throughout your career. You can find more ways to trade your time for money, or creatively construct strategic ways for your business to work for you and for residual income to unfold. There have been times I’ve had more residual than others. There are also times I’ve worked almost 24/7 to create the structure that now enables more time freedom choices.
When people hear the term “residual income” many jump automatically to the perception of MLM or Network Marketing industry. I appreciate that industry and have experienced a six figure income in that arena. When I decided it was no longer for me (for reasons related to culture, structure and behind-the-scenes realities), I did not for a minute believe that it was the only road to residual.
Some other strategic and residual income avenues to investigate:
- Creation of your own evergreen products
- Creation of video courses hosted on a great marketing platform
- Affiliate products that you create and own and have others marketing for you
- Multiple income streams – did you know that most wealthy people have at least 7 income streams.
- Systems that bring in clients, customers and sales automatically
- High dollar workshops and events that you offer only a few times per year
- Joint Venture scenarios – sharing complimentary areas of expertise with each party doing only part of the work.
There are many many more, including investment vehicles, real estate and others which I am not knowledgeable about (yet).
The take-away here is to expand your mind and view the big strategy picture for entrepreneurship time freedom. It is easy to get mind-stuck in the day to day ritual of your work and lose sight of how to tweak and expand it to provide growth and income even when your energy is elsewhere.
The Strategy of Entrepreneurship Time Freedom begins inside your own mind. It starts with getting down and dirty with your drivers and desires. From there you create your business in a manner that brings to the forefront through intelligent, creative strategy, those things that hold the highest value for you.