The story about Tom – I was in a conversation with Tom about what he wants from his business. We were getting into what the business will look like three years from now, and what was slowing him down.
Tom is the CEO of a design and manufacturing company for precision vehicles, If you are a car person or just love performance, Tom is the type of person you might love talking with. He is the type of business owner who wants to be the best, not the biggest. He actively looks for better approaches
So we had the future org chart worked out Big steps together with a financial flight plan.
I asked, “Why is this outcome important to you?”
[Pause] that’s when it got even more interesting.
Tom, describe growing up
His father grinding it out doing something that he almost hated. Making enough money to be ok, but not enough to miss a beat. It became apparent, that one of Tom’s motivations is to gain Financial Freedom.
Financial Freedom
Financial freedom means peace of mind.
When you have peace of mind, you think clearly, make sound decisions and take action with skilled follow-through.
It means relief from stress.
Money is a resource, if something happens you can absorb it, you win a large contract that needs to ramp up, you get the tax bill you didn’t expect, or a vehicle breaks down, financial freedom is having sufficient resources to handle the known and the unknown.
It’s about feeling safe and knowing what you can afford to buy or do, not so much about status symbols but being able to do what you care about. For example, buying the equipment your team needs or buying the family room furniture so everyone has a place to hang out. That’s financial freedom.
Being clear on where you stand and where you are going is essential. For instance, not knowing if a division of your business is making money or not will work against freedom. You deserve to at least know.
Financial Freedom means taking all the emotions and stresses away from money so you finally have clarity. How would that make you feel?
Conclusion
It’s common for CEOs to experience forks in the road where they have fundamental business decisions and stall points.
Sometimes CEOs are uncertain about what the best path is, other times the business just isn’t as effective as it needs to be.
I believe every business owner deserves to have the clarity they need to make good decisions around how they spend their money so they take action, without wondering if they can afford it or fear making a mistake.
This is the peace of mind that CEOs gain with financial freedom.
Reach out today for an initial call and we can discuss your situation and how you can Gain Financial Freedom.
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