Everybody wants freedom but the problem is that most people don’t know how to get it. Entrepreneurs have been searching for years and most of them just create a high-paying job instead of creating a life of freedom.
Join Jay on today’s Black Entrepreneur Blueprint podcast episode # 484 as he revisits one of his most impactful episodes and discusses why freedom is so important to your wellbeing and decodes the secrets to help you learn and implement the “Freedom Equation.”
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BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 484
Today’s show is based on a previous episode # 293 from February 24, 2020, titled “The Freedom Equation – How To Control Time And Money.” On today’s show, we are going to discuss and decode why freedom is so important to your wellbeing, and how to implement the freedom equation.
What Is Freedom – the quality or state of being free, such as the absence of necessity, coercion, or constraint in choice or action. liberation from slavery or from the power of another. IN TRUTH – Freedom Is Learning How To Control Time & Money
Why Is It So Important – here are some benefits
- You have a fundamental natural right to be who you want
- Freedom is important for a long, happy life
- Freedom allows you to make your own choices
- Freedom gives you the right to free expression
- You have a right to be free from discrimination
- Allows you to do and pursue things that are important in your life
Why Is It So Elusive – Most people have never looked at freedom as an equation, they look at it as a state of being.
The Freedom Equation – Cashflow plus Passive Income equals freedom
What is cash flow and how do you create it (cash flow controls time)? Cash flow refers to the net balance of cash moving into and out of a business at a specific point in time. Learn how to get your Daily money, weekly money, monthly money, and yearly money.
What is passive income and how do you create it (passive income controls time)? Passive income is money that you earn either automatically or without putting in much effort.
What are some business ideas to create freedom that you can start right now?
- STEP 1 – Find a business or businesses that create consistent cash flow that doesn’t require much of your time after the business is set up.
- STEP 2 – Look for businesses that don’t require much of your time after the business is set up. Examples of passive income include rental income, interest income, investment income, and affiliate marketing.
- STEP 3 – Look to create multiple streams of income to minimize your risk; only after you’ve created your first solid stream of income.
- STEP 4 – Find a business or businesses that intersect both steps 1 and step 2.
EXAMPLES: E-commerce, real estate investing, vending, dividends from investments, Monthly Recurring Revenue business models like software,