“We are here to kickstart your ecommerce ambitions by providing you with a range of ecommerce stores in the most popular niches whilst providing you with a fully functioning business complete with products to sell saving you time, money and effort in the process."
“We are here to kickstart your ecommerce ambitions by providing you with a range of ecommerce stores in the most popular niches whilst providing you with a fully functioning business complete with products to sell saving you time, money and effort in the process."
Why are you right here, right now listening to the Serial Entrepreneur Podcast?
I think it would be fair to say you are here to learn more about making money online and to start up your next business. But what will YOU do once you’re successful? Well, I asked 50 Startup Streams entrepreneurs to find out what they would do with financial freedom.
The results may surprised you. The number one thing, people would do with financial freedom is not what you think.
What is financial freedom?
Financial freedom, or financial independence, is defined as the status of having enough income or wealth sufficient to pay your living expenses for the rest of your life without having to be employed or dependent on others.
This certainly sounds fantastic. Never needing to worry about food in the fridge, petrol or electricity in the car, and a roof over your head.
But going beyond these basic needs, have you considered what you would do with a surplus of savings? I mean, seriously, beyond day dreams and browsing flashy cars on internet.
The "Why"?
Having this personal, end goal in mind is super important for your mindset when making money online. The ‘WHY’ is one of the best motivators there is. You need to have a strong ‘why’ to remain determined and focused - especially when things get tough. It is the power behind people being able to go above and beyond in the lives. The ‘why’ can only ever be unique to you.
Once you have your ‘Why’, it is important to be reminded of it constantly. The first thing you think about when you wake up, the last thing you think about before bed and the only thing you think about in-between. You can do this by having a poster or a representational object in clear site in your bedroom, living room in front of the TV, or posted on your fridge door - anywhere you will see it multiple times throughout the day. Just think of how someone may put their ‘thinspiration’ picture, a photo of themselves overweight, or a picture of a model with the body they aspire to achieve on the fridge to remind themselves not to snack or eat junk food. This reminds them of the ‘why’ and is important for you to do the same, in the same way.
So, are you struggling to find your ‘why’? Keep listening to find out about our customer’s thoughts about what keeps them going, as this may just help you find your motivation, to get started and keep going…
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What are Startup Streams members working towards?
So, let’s jump into the responses from our Startup Streams customers and members. Here are the top 5 reasons why people want to start a business and find financial independence…
It’s no surprise, with the average age for a Startup Streams member being between 40-60, that the world ‘retirement’ came up a lot - if not for themselves, then to help other family members to retire also.
25% of our respondents stated they wanted to reinvest accounts into helping their family and younger generations, with one person stating simply that they would “take care of family”.
20% stated they would invest in other startups or property, and let their money work for them. One customer stated “I would invest 90% of it into something fairly secure such as property and live off the income from rentals. This wouldn’t provide a lavish lifestyle but would give me enough freedom to enjoy my life”.
Shockingly, only 5% stated they would go on some sort of spending spree; nice clothes, fine dining, new gadgets, fast cars… more of the same.
But before we move onto the biggest motivator for people wanting financial freedom, here are a few honourable mentions. One respondent stated “I would be a mentor to those who were in my spot and can’t find the way out”, which is wonderful to hear. Another said “I would take my family on a vacation.” which is a great plan and another respondent wrote “The end goal is to build a multifamily portfolio”.
A true community of serial entrepreneurs
And finally, I can reveal that a whopping 50% of respondents stated that what they would do more than anything else is.. to start a new business.
I honestly thought that the percentages for those wanting to go on a spending spree and start a new business would be reversed. It turns out that we really DO attract a lot of serial entrepreneurs, happy to keep making businesses, even when they don’t need to.
One respondent summed it all up beautifully by stating “With a million dollars I would do what I love, give my family financial security and invest it in a good business.”
Soundbite references:
What's motivating you right now?
So, what is motivating you? Helping save for retirement? Do you wish to help your family, wish to invest in a new startup or, like the majority of our customers, want to start a next business?
Not quite there yet? Head straight to StartupStreams.com right now to explore our dozens of pre-made businesses for sale, and join our community of like-minded entrepreneurs today.
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