Hey Reader,
Yesterday I asked a question on Facebook: How do you take care of young infants and toddlers while working on your business from home?
The responses were really interesting and this sparked a very lively conversation.
The common response was that it is very hard to do.
Infants and toddlers require a lot of attention and energy.
And this got me thinking about why I am so dedicated to creating a business model that allows me to have a very flexible schedule.
If you are taking care of aging parents, if you want to travel internationally, if you have an illness where you can’t always be available, listen to what I am about to say…it might change your entire perspective.
In order to setup a flexible business model, you need a business that doesn't require:
This will allow you to really work whenever you want and take weeks off when needed.
So then what type of business model would this be?
Well for one, a solo freelancer where you are doing done-for-your services like marketing, web design, bookkeeping is time consuming and is NOT "freedom lifestyle".
It's actually far from it.
When I first started out as a social media manager, I was working 40 + hours a week and it felt like a job without benefits.....
It wasn't fun.
Only after I hired assistants and created an agency did I get my life and time back.
If you are a freelancer and you want more "freedom", you need to great an agency where you hire other people to do the client work.
In fact you can have an agency that runs by itself and you just live off the profit margins.
Your profit (the amount you pay yourself) might be around 30% - 50% and sometimes put to 60%, depending on the type of people you hire for the agency.
The second way to create a lifestyle, freedom business is to have more semi-passive income like digital products, self study courses and affiliate revenue.
I personally have created a passive income revenue stream in the form of self study courses which has given me a lot of time to help my family who needed me.
For both of these business models to work you need to play the long game. It will take time. You will need to be patient.
But when the money starts rolling in, the ROI is massive!
Ultimately, you have to decide what type of life you want to live?
How do you want to really spend your time?
Personally, this year I am on a journey and looking forward to more travel (which I can’t wait to share with you).
A journey of being more creative in my business and sharing new ideas with the world.
I'm also on a healing journey from burnout that came from personal family things and a few business things...maybe I'll share in another email.
So in the meantime.... If you want to create more of a lifestyle business, I put together a few videos to help you streamline your business and remove yourself from the day-to-day.
Check them out below:
WATCH VIDEO: Start a Social Media Management Business + Agency
WATCH VIDEO: Create an Automated Client Onboarding System to Save You Time!
Online Course Creation Ideas for Passive Income
Best,
Alma Bradford