Why You Need a Freedom Fund

Why You Need a Freedom Fund

What would you do if money was not a concern? Travel the world? Start making music? Enrol in a painting class? Devote all of your energy to the side project you’ve been passionate about for the last 4 years?

If your bills were covered, would you go to work next Monday? Most people I know wouldn’t. But few of us have this option – don’t rock up on Monday and we’re told not to bother coming in on Tuesday. With rent to pay, bills outstanding and for some, a family to feed – losing that job seems disastrous.

If you haven’t already heard, the end of jobs is nigh. The world is now rewarding individuals willing to take a punt at starting a business and as painful as it is, punishing those that aren’t ready to adapt.

It’s claimed that 69% of Americans have less than $1000 in savings. We hear similar stats coming out of Australia, UK, Europe and elsewhere. Psychologically, would you be confident quitting your job and starting a business with less than a grand in the bank? I know I wouldn’t.

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Maker, Manager & Dreamer Schedule

Maker, Manager & Dreamer Schedule

Are you a maker, manager, or a dreamer? A technician, the boss, or an entrepreneur? Every individual brings different value, but simply put:

  • an entrepreneur changes the business,
  • a manager runs the business, and
  • a technician masters their craft.

It may seem that you need to choose a role in your career. While some clearly choose a role, most of our personalities share traits with many of these roles, either in different times during our life or simultaneously.

The challenge is to schedule according to your role/s, realizing that different roles have different needs.

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Selling My Website Business: Lessons Learned

Selling My Website Business. Pictured: Code that has nothing to so with said website business.

A few months ago I decided to sell my website business. Established back in 2011, the site began as a hobby and a way for me to support the brands that supported me by way of discounted or free products.

Though the site started as a passion project, over the years it began generating an increasing amount of income by way of affiliate sales and product sales through Amazon and ShareASale.

Through this post I’ll tell you why I sold my website, how it ended up selling and lessons learned along the way. Of course, I am no expert so please do your own due diligence if you are looking to sell your own website.

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Business Idea Evaluation

The biggest mistake any one of us can make is wasting time. While it is fun to dream up new businesses, we need some quick methods for business idea evaluation to make sure that demand for your product exists.

If demand already exists, you simply have to convert those customers or clients from the services or products of another business, or better yet – fill the need that does not currently exist in the market (no competition!).

If there is no demand, your business will have to find and educate your audience to teach them why they need your product. This costs money, or worse – time, typically neither are in great supply for grass roots startups.

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