This weekend I reflected on what I have done since beginning this journey to financial freedom earlier this year. I think that sometimes we view the goal as being so far away that we forget what we have already accomplished. I feel that it is very important in life to celebrate oneâ€™s successes and gain confidence from the fact that, even though it might come slowly, the fruits of the work we put in do eventually come around. This exercise helps me to maintain the focus and motivation that is required for me to reach my goals.
This weekend I golfed with my commercial lender and had a good conversation about the structure of business and the advantages of some of the government sponsored small business loan programs. This was very enlightening and showed me that risk can be mitigated greatly using these programs, giving the small business owner a substantial advantage in terms of risk vs. reward.
I am currently trying to persuade my money guy to venture into a franchise operation with me. I will be meeting with him this coming Saturday to discuss several options that my commercial lender and I came up with that would allow for a win-win situation between me and this investor. At this point, I am confident that one of the options will appeal to him and that we will proceed with the franchise application.
In one of my earlier posts I noted that I was putting these possible franchise opportunities on hold. At the time it was necessary to do so, but after reflecting on my goals and the relatively short time frame that I have allowed myself, I found it necessary to entertain franchising as an option.
In order to reach my goal, I must have sustainable income. This income is best derived from Business and Real estate and not from trading stocks or locating properties for other investors. The latter will allow me to raise capital, but will not allow me to sustain financial freedom.