I get asked all the time, “Loral – you talk about reaching my Freedom Day, but when do I know it’s time to pull the trigger and work for myself?”
My answer is always the same. Do 12, 4, 5 (how much you need to make in 12 months, divided by 4 weeks divided by 5 days a week) and determine how much money you need to bring in each month to make it. Then, develop a sales funnel that will achieve your goal and do it.
It’s the “doing it” part where people get stuck. They plan. They work out their funnels. They educate themselves. So, instead of me repeating myself, I’m going to inspire you in another way. I went to my Facebook communities and asked THEM the question. Here are some of the best answers. (It was hard to pick JUST FOUR!)
“I made the jump from 1099 income to full time entrepreneur when the R.E. market took a crash here in CA. But I was pretty much on my way and really had already made up my mind it was the next journey in my life I wanted to take. If people ‘jump’ just to jump… they won’t make it. The jump has to have meaning, passion and the desire behind it to make the leap and keep moving forward! ” – Lynn B.”I had been hearing Loral share about the power of being control of my own finances. That only brave are entrepreneurs. I lost my W2 job May 2011. I was completing my MBA in Entrepreneurship at the time. I was not being successful in getting hired anywhere. I had an ah ha moment. Shouldn’t I manifest in my life what I’m getting my MBA in? I took control of my life. Instead of sitting around waiting for someone to GIVE me a job I took action, quit filling out applications (a full-time job in itself), and used that energy to grow my business. It’s been a year now. It hasn’t been all roses. However, I love the freedom that I have. I own myself and no one is going to limit my worth or give me pennies for work or results that are making them thousands. NOT!” – James R.
“For me it was when my employers decided to open a second business and offered me 20% stock in the company and double my salary. Sounds great right? I am the marketing, recruiting, IT, accountant and maid already. They want me to continue this and do the same for a new company. Me and another person had the knowledge and skills for the new company – all other stock owners were not even investing money. They started asking friends to join in stock till I had none and the other man has 10% – they were going to make millions a year off our skills and knowledge. Why would I do this for a wage that I would only get as long as I was working? We are going to start our own company. I would not have decided to do this with out the past 6 months at Big Table.” – Debbie Y.
“Oh Loral! I’ve told you this story – the week after I read Millionaire Maker, I quit my job. I knew when I read that book I had everything I needed to make the jump and that it was all going to work out great! In the five years since we did that – wow have things changed!!! Can’t imagine ever going back.” – Lisa L.
Become part of the conversation. You can like my two Facebook pages, Live Out Loud and Loral Langemeier. I’ll be asking a question like this every week.
