Hacks for Starting a Business With Limited Finances
Ted James
June 27, 2022
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If you dream of becoming an entrepreneur, starting a business is a logical move.
Don’t you think that the word Financial Freedom is overused, abused and misused?
Everytime you hear someone talk about financial freedom, you bet either that someone is selling life insurance or is a recruitment agent of a multi-level company selling coffee or soap. Well, nothing’s wrong, they do give financial income. In fact a lot of them did. Although, feeling like being sold or being recruited sends a bad taste in the mouth – but how bad do you want financial freedom?
Notice how an MLM company frontliner flaunts their new car, new home, travels, new jeans and new looks. Don’t you think they are financially free? If you think that is how being financially free is – then they are!
There is one caveat though, they might be financially free but they could be missing one thing…
Financial Guarantee.
So, what’s the difference? In times like this, you cannot be confused further, right!
Let’s define financial freedom really quick. Common sentiments tell us that financial freedom is the capability to do or buy something without financial or monetary limits.
Have you ever tried buying groceries and then spend a couple of hours comparing prices instead of qualities? That’s quite different from spending a little more time comparing values of products over the tag prices. So, financial freedom can be taken into account like buying all you need and even all you want without minding those ridiculous price tags.
Our senses are flattered by rosy adverts coming from well meaning financial seminars or workshops about people washed upon the beach of Boracay sipping Peña Colada. But can financial freedom sustain that kind of lifestyle or at least your own definition of freedom?
Remember though, that we are not comparing apples and oranges here. Financial freedom is good, but Financial Guarantee is best!
You can be financially free all you want, but it doesn’t mean that you are financially foolproof or guaranteed.
Financial guarantee is the capability to sustain financial freedom for life, beyond life and beyond earth. What that really means is that, unlike financial freedom which is as fleeting as a candle in the wind, financial guarantee will keep you and your upkeep regardless of what happens to you or whatever happens to the economy at large.
Financial freedom will see you through for as long as you have a high paying job, or maybe a passive income from a small business venture or perhaps if the economy is at par and kicking with the odds.
But what if not?
Remember however, if you are financially free according to the definition we set above, pat yourself on the shoulder, walk with a skip on your step and a smile on your face because you are way ahead of the rest of humanity who are still dreaming of it. But also, do not forget that a real financial freedom is foolproof. You cannot be financially free today and broke tomorrow just because you were retrenched from your high-paying job during a viral pandemic or economic recession.
“If you want to call it financial freedom – then make it last! Because everyone can be financially free but not all can be financially guaranteed.”
Think about how your financial freedom will be able to sustain you in a post apocalyptic earth. Or how your financial freedom will be able to outlive you or even be able to benefit your family and kins after you. And better yet, your financial freedom will be able to benefit people outside of you. Maybe you’ll be able to put a charitable foundation that would feed the hungry and send kids to school.
This might be too much to take, but you can take it either as advice or a hyperbole. After all, how many on earth do you think are actually financially free – not much. Then how much more are financially guaranteed individuals – at least. But worse, others are neither of these, but are financially abused that is why it pays to know if you are financially abused and how to get over it.
Bill Gates, Warren Buffett, Jeff Bezos or Mark Zuckerberg might just be few of those overly financially guaranteed individuals on earth. Mark alone with his almost a hundred billion net worth would take him thousands of years to spend it all just for his personal dinner alone – even if it’s the most expensive dinner on earth done on a daily basis.
We’re not even talking about these “lucky sperm club” members. You’d be very hard-pressed to work your ass off to join and qualify for a membership. But in case you insist, you either have to work and do business the way they do or you’d be handpicked by nature through natural selection to be one of them.
Here are a few things you can do to not just be Financially Free but also Financially Guaranteed.
No doubt there are businesses that don’t last long. They say if your business survives for more than 5 years, it has at least enough root to hold the ground come stormy season – but still not a guarantee. Sustainable business can not only give you financial freedom but financial guarantee as well. Since sustainability is the lifeblood of your business, it will sustain economic spiraling if it happens.
Business related to food or agriculture is one business you can do that is sustainable. Food is the closest element to our gut. Everyone on this earth just got no choice but to eat – and eat some more! You can forgo a purchase of a dreamt luxury item, but you cannot forgo eating to feed yourself and be alive. We have no choice.
Sustainable business cannot just sustain you but sustain the kin coming after you.
Here are handful of advice on How To Thrive In A Food Business ➤
Gift of letters is one way to financial freedom but gift of music is another. Sing or dance, spin your own record label, be a name in the industry and right there you have just woven you financial freedom. Selling your records every time without you doing it all over again, then that’s financial freedom by royalties.
Michael Jackson, Elvis Presley, John Lennon and Whitney Houston have all one thing in common – they’re dead. But their masterpieces are still selling like hotcakes earning them millions more than their living counterparts.
Not just a book, a best-selling book with proven principles written in it. Or a book with really interesting content to last a lifetime of men. If I were J.K. Rowling, I would not think twice to repeat history for me and be me again after I’m raised to life.
Dan Brown, John Grisham, Rhonda Byrne, Stephen King are few of the authors who made it to the best-selling list. Their books have been reprinted several times and have been sold off the shelves thousand times. Their books even made it into motion pictures, another hefty offer not just on hardcover but on bank notes as well.
Speaking of financial freedom? You bet. Financial guarantee? Their book’s income may even outlive them.
Know that some of the Best-Selling Books of Dead Authors ➤
All those mentioned above are potential passive income ventures, but they are just some. Passive income is the most powerful income in the world. In fact, there is only a thin line separating financial freedom and passive income. Earning while sipping your best shot on the beach side or even while you sleep – in your dreams, right? Well, you might want to wake-up. While you still dream about it, others are now living the dream.
Real Estate rentals are one of the most powerful passive incomes you can get. Buy units, rent it out and prepare your cash wagon at the funnel on month’s end. But don’t just jump in easy, real estate business is as complicated as it is promising, so you might Want to Know if Real Estate Investing is Right for You.
Stock Market is another promising daylight for those that are looking for financial freedom. Only that it is just a very technical way of getting your way into that freedom. But don’t fret, if there is a will there’s a way, that’s all they say. Remember Warren Buffett, George Soros, Nelson Peltz, Bill Gates and that guy named Jordan Belfort – they have one thing in common, they made millions and billions in the stock market, and they’re humans too. They just know all that Little Dark Secrets of the Stock Market which is very interesting to know if you want to venture there.
If you are amenable about stock market, start your hustle towards it by Learning How To Start Investing in the Stock Market ➤
Remember though, that those above are not the only ones you can do to be financially free. Those are not the only ones written on stones, there are hundreds more you can do out there in the wild. So, go catch one for yourself ➤
If you dream of becoming an entrepreneur, starting a business is a logical move.
You’ve always wanted to start your own business, but since you’re currently living in
Business ideas for teens have come a long way in the past decade as online
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