The #1 Way for Entrepreneurs to Reach Financial Independence
I'm always looking for the most efficient and effective ways of doing things. I feel personally incapable of simply accepting things as the way they are and the way they always will be. I strongly feel the there is a completely new way to live and to do business, which will make the greatest impact not only on our lives but on the lives of others as well.
This blog brings together online business with financial independence and philanthropy to create a completely new model of life and business that blows everything else out of the water.
Online Business Plays A Huge Role In Changing Your Life, And Others
Both the present and the future of business lie in the online world. With most of the world already online, and a projected hundred percent of the world online by the year 2020, it's easy to see that this is the path we are following.
I love the nature of online business for so many reasons. It's so full of opportunities. There really is no reason that anyone needs to work a job they hate anymore. With all of the free and low-cost tools available online, anyone can create a business or steady freelance work that they love and that makes an impact on the world.
Not only that, but the online world is available almost everywhere. Working online means that you can work from every corner of the globe. If you have dreams of traveling, you no longer have to beg your boss for time off. You have the freedom to simply pick up your computer, pack your bag, and take off.
Frankly, I don't believe that humans are meant to sit in an office for 9 hours a day begrudgingly doing work they don't love simply for a paycheck. I believe that everyone has some talent, some gift, something that they are really good at and passionate about that they can share with the world in a better way than anyone else. It's a shame that so many people are keeping those talents and strengths to themselves.
Running your own business online also gives you complete control of your future. You can decide where you want to live, instead of having to choose your city based on available work. You can decide how much money you want to make, without having to go through your boss to try to snag a raise once in awhile. You can decide which hours of the day you want to work, leaving you with more time and focus for your family and friends and hobbies.
Working online isn't easy, but neither is working in the physical world. I truly believe that if you want to do work you love, in the most impactful way you can, while creating a life that you look back on with pride, building a purpose-driven online business is the way.
Financial Independence Gives You The Time To Focus On What Matters Most
My second focus on this blog is to help others become financially independent. You can probably see how an online business ties into this idea.
But what does financial independence actually mean?
In essence, financial independence means that you no longer have to actively work to bring in your needed income.
More specifically, entrepreneurs have the chance to achieve FI by reinvesting their business profits into stock market index funds. As compound interest goes to work in these funds over time, dividends are paid out to their shareholders (that's you!), or are reinvested in the index fund.
You become financially independent when your investments are creating enough wealth to where you can withdraw 4% of the principal amount per year, and have enough to cover all of your expenses.
The amazing part for you is that, as an entrepreneur, YOU get to decide how much money your business makes. If you decide you want to become financially independent in 5 years, you can do that.
Most employees take the slow route, setting aside small amounts of money in their 401K year after year until hopefully they can retire at 65.
Entrepreneurs, especially online entrepreneurs, have a serious advantage. If you get serious about your business and build it up to where it's making six figures or more per year, you could easily reach Financial Independence in less than a decade. If you get serious about your business and build it up to a 6+ figure business, you could realistically reach financial independence in less than a decade.
So why do I encourage entrepreneurs to go after FI? Isn't that what we have social security for?
It's simple really. Financial independence gives you options.
Maybe you dream of retiring in your 30s, 40s, or 50s and spending the rest of your days doing whatever the heck you want.
Or maybe you want to have your financial baseline covered so that you and your spouse can spend as much time with your children as possible.
Or maybe you simply want the freedom to work on only the projects that are near and dear to your heart, rather than ones that have to make money to be worth your time.
Everyone has a different reason for wanting to become financially independent. Personally, I love working and I can't see myself wanting to stop working anytime before I'm 70. That being said, I love the idea of me and my husband having all the time in the world to spend with our kids and travel the world.
I also care deeply about spending my time on projects that make a real difference in the world. Things like environmental conservation, spreading education worldwide, helping the poor, and effectively creating a much better world than the one we see today.
Let's be honest for a moment.
In the right hands, money can be used to change the world for good. It’s hard, though not impossible, to make a significant difference without money in some shape or form.
Philanthropy Is The New Black
In just five years, Adam Braun was able to create Pencils of Promise from scratch and build 260 schools in third world countries across the world, bringing education to thousands of children globally.
At 16 years old, Boyan Slat dreamed of finding a way to help clean up polluting plastics in the ocean after scuba diving in plastic drenched Grecian waters. In just 5 years since then, Boyan was able to create The Ocean Cleanup, a non-profit that uses large buoys and the natural flow of the ocean to collect trash that will otherwise soon be broken down into hazardous microplastics.
“How much could we achieve if thousands of entrepreneurs in the nonprofit and for-profit sectors actively contributed to a better world?” https://bit.ly/2vjOatC
In 2015, entrepreneurs Ben Simon and Ben Chesler discovered that nearly 30% of fruits and vegetables grown on farms across the United States are thrown out before they ever even head to the grocery store.
In perfectly edible condition, the produce isn't thrown out because they've gone bad or they have wormholes. They are disposed of simply because of a slightly irregular shape or size. We’re talking bananas that are just a hair too long or asparagus spears that are a few millimeters thicker than grocery standards.
We waste millions of gallons of water, fertilizer, fuel for transportation, and labor on fruits and vegetables that are a half inch too big or too small for grocery store standards. Simon and Chesler wanted to fix this problem, and they soon created Imperfect Produce, a nonprofit organization that purchases oddly-shaped and sized produce directly from farmers and ships them to households across America.
The truth is that our world is filled with social issues and environmental issues that are hurting humans, plants, and animals equally.
My mission, in addition to donating 10% of my business profits forever to high-quality purpose-driven organizations, is to create an army of entrepreneurs who do the same.
Imagine what the world would look like if instead of a handful of beneficial organizations helping the world, there were tens of thousands. How much could we achieve, and what problems could we overcome, if there were tens of thousands or hundreds of thousands of entrepreneurs both in the nonprofit and for-profit sectors actively contributing to a better world?
The answer, I believe, is that we could create a world that is safe and healthy and beautiful for all of us to coexist in. I think we would see entrepreneurs who are proud of their organizations and personally fulfilled in their lives knowing that they are contributing and that they matter. Happiness stems from giving and from progress.
This is what I am here to do. Will you join me?
How to Never Have to Work Again (Yes, Really)
The Financial Independence Road Map will show you how to use your business to drive simple investments and never have to work again.
Join the FIRE Hotlist and receive the road map as a perk of becoming a subscriber.