Financial Independence and Entrepreneurship – part 1
The world economy has slummed in an unconceivable magnitude over the last 18 months. I thought it necessary to share my ideas on the power of an entrepreneur – Financial Independence!
Your understanding or perhaps, your definition of what financial independence means will go a long way to affect how you think and how you implement your business ideas and solutions.
I am not sure there is a right or wrong answer to this, however I think the current financial climate will convince you of your independence or otherwise.
Some have defined financial independence to mean being able to live your life – provide for your family, buy things you need, go on holiday etc without the need for credit.
Another definition from my dear wife was – the ability to afford anything you want or need at anytime without worrying about money.
What is your own definition?
Why? - Because it will affect how you work hard at creating and maintaining a profitable business.
As an entrepreneur, you own a business or an invention and you carry the risks of the business, which means that ultimately, you are responsible for either the success or failure of the business.
Not everyone will be or can be a successful entrepreneur, because lots of people are not ready to take sensible, calculated risks. If you design a product, create a service or start a trade and you have enough passion and skill to steer it to profitability, the reward you get, especially in this so called recession is financial independence!
What ever your definition of financial independence is, you can relax knowing fully well that your money is working for you.
I spend a lot of time thinking, planning and acquiring skills to start small businesses – especially web-based ones, and I realised that with hard work and faith in God you can live above the current recession by creating your own wealth!
Be Inspired! (C) Abolaji Lawal, 2009
5 comments:
Nice blog, keep it up bro.
Truly to your words, this current financial climate has made me to redefine my definition of finacial independence.
Also, acquiring new skills might be one of the solutions to overcoming the current recession but i know that ideas without implementation is just a waste of time.
I will always forward to your blogs.
Thanks for your comment.
I was in a meeting yesterday evening discussing "success at the level of thought" and we all agreed that the best way out of this recession at an individual level is to acquire new skills in the area of our "dearest passion".
Please watch out for the second part to this article and also "success at the level of thoughts".
thanks a lot.
'Bola'
What a good wisdom from Christ Jesus!blessed the name of the Lord for your life.Keep on firing for God.nice blog!!!
I quite agree with this article.
I believe it take a lot to be successful at this time of our lives.
As an Entrepreneur, you have to be willing to see it(the business) to the end, this is what gives the fulfilment.
You know, just as people are shouting there is so much recession so are some people creating wealth at this time.
Think!!!
Eunice
Great! these are relevant for our times, the toughest step to financial independence is taking the first step as an entrepreneur, have a vision and you will see it unfold right before your eyes if you keep at it.
God bless you Bola.
Be inspired...
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