← Unemployable with Jeff Dudan
Unemployable with Jeff Dudan
Want More Freedom? 4 Reasons Why Entrepreneurs Win | Franchise Fridays with Jeff Dudan #196
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Jeff Duden
Hey, everybody. Jeff Duden here. And welcome back to Franchise Fridays. Today we're talking about one of the most important things in life. Freedom. Freedom means different things to different people depending on where you live in the world, how you grew up, what you value, and what your risk tolerance is. I have a friend who says he builds businesses so he can do what he wants, when he wants, wherever he wants, with when, whomever he wants. Now, is that selfish? It might sound like it, but he's not a selfish guy. In fact, he's engaging, generous, and a devoted friend and a family man. He makes the point that he couldn't be any of those things if he didn't have freedom and control over his time, his energy and his resources. His choices give him the option to be ever present and ever attentive at his discretion, not somebody else. I've come to understand the freedoms that matter most to me, how I achieve them through entrepreneurship, and how you quite possibly can, too. So today we're going to talk about the four freedoms and maybe five. But I think there's four, though there are certainly more. And you can define these in your life any way that you want to. So let's get into it. Number one, freedom of opportunity. You all have heard me say it all, work is honorable. I respect anyone who gets up, shows up, whether it's to a workplace or to a laptop in a home office. Helping a company win. We all have obligations, and we each have to decide what we're willing to trade to meet them. But when you own a business that you've scaled, you have more skills and options. When new opportunities come your way, when you have a job and you're honoring your responsibilities to that job, you typically have to give up that job to get a better one. But that's not the case. When you're a business owner, you have options. You can explore new opportunities on the side, you can pilot them, you can invest in them, you can spin up a separate company and. And you can staff it. You can find partners, you can create a joint venture, you can merge, you can file for intellectual property and license it out. I believe you need to win the opportunity you're in to earn the right to the next one. So if you haven't scaled up yet to create the time or the capital to pursue these opportunities, you may not be ready. But that's your choice. And that is certainly something that you're building towards down the road. You see the difference. It's incredible. The freedom to decide what to do next, what to pursue, and the opportunities to pass on. Which brings me to the next Freedom. Freedom to Pursue Curiosity Humans are complicated. We live many seasons in one lifetime. I've been a college athlete, a painting contractor, a private investigator, although I don't talk about that one much. A restoration contractor, a consultant, an expert witness, a franchisor, a speaker, an author and undercover boss. I never planned to be many of those things, but I was self employed and I was able to follow my curiosity. Curiosity is like pulling a thread on an old sweater. You never know how far it's going to go or what it might expose or untangle. And if you want to succeed in entrepreneurship, curiosity isn't optional. It's essential. You must stay curious about people, about numbers, about systems, about what's possible. Ask what if? Ask how is this done in other industries? Is there a better way? And one of my all time favorites. If we weren't doing this today already and we were going to start doing it, would we do it the same way over again? You're constantly challenging yourself and being curious about every aspect of your business. And that's curiosity inside your business. But what about adjacent to it? Or what about in a brand new business? When you start solving problems in your own business, you start spotting similar problems all around you. And that's where curiosity turns into innovation. And it's not just about business. It could be in new skills like leadership or public speaking. Or it could be something personal. Exploring Africa, learning about ancient South American civilizations. Your business gives you the resources to invest in yourself and your curiosity to meet new people, expand your thinking and become a more interesting human. Business ownership feeds curious people. It enables curious people. And once you learn how to follow the thread, you'll keep pulling again and again and again and seeing where it leads you next. Which brings us to the third freedom is your freedom to have great experiences. This is one my friend was talking about. Doing what you want, when you want, where you want, with whom you want. This includes the freedom of the whole, meaning you choose who to spend your time with personally and professionally. Many entrepreneurs align their business relationships with their friend groups. They attend the same events, they join the same masterminds. They even include their families. We all have blind spots. And sharing meaningful experiences with other business owners is a powerful way to learn, grow, and to shape your perspective. But it's also about the experiences you create with the people who matter the most. Your parents, your siblings, your family, your friends, your think about someone you know, a business owner living a life that you admire. Maybe they took their family on A safari. Maybe they cruised the Mediterranean, RV'd across the country, attended a Super bowl, or just shared a memorable dinner. Big or small, it's your call. Successful business owners don't just create experiences, they leverage them. They deepen relationships with those who matter the most. Personally and professionally. Shared experiences build memories. Memories build bonds, and bonds build relationship equity. Show me your friends and family and I'll show you your future. Okay, that's three. And I've got one more. And this one is the common sense one, but it touches all the others. And that's financial freedom. I suppose that you could argue that financial freedom is the foundation of the other three because it provides the resources for opportunity, curiosity and experience. And you'd be right. But it's also about something deeper. Certainty, security and continuity. Every business has risk, but lots of things are outside of your control. The stats on how many people can't afford a basic emergency like a surgery, a car repair, or missing one paycheck are staggering. So yes, financial freedom is about building something great, but about choosing your path and creating options. But it's also about protecting those who depend upon you. Every day, business owners over time accrue assets and they accrue value in these assets. And that's something you usually and typically don't get from a job. That includes residual income tax efficiency, because businesses are a high class asset. Equity in your business or real estate that you've accomplished with or assembled along the way. An income that flows even when you're not present. So for me, financial freedom meant knowing that if something happened to me, my team and my family would be taken care of, that our work would not collapse without me. And yes, life insurance and disability insurance, those help and you should have them. But they only make you worth something when you're dead or disabled. How about living a life? How about creating a life where you're worth more alive than you are dead? Because that's what, what it's all about. It's about your body of work. It's about your life's work. And one day you'll look back and you'll have to make peace with everything that you did. All the good and all the bad. It all tallies up to the great tablet that is your life. And you have to look at it without regret, knowing that you did everything that you could and you maximized every opportunity. Because we do live in the greatest, most free country but world has ever known. And never forget that freedom will never come without your courage and your willingness to sacrifice something. Today to create freedom. Tomorrow only you can decide. Godspeed, my friends. And hey, while you're sitting here listening and pondering something that worth knowing, the property services industry is one of the fastest growing sectors in franchising. And that's no accident. At Home Front Brands, we are not just in the space, we are leading from the front with a platform of essential services that everybody needs and will always need every day and every year of their lives. Built to perform in any market and in any economy. It is the most durable sector that you can possibly build business in. I believe it and that's why I'm in it. So if you're serious about building something real, maybe this is your shot at freedom. Hit the link below to grab a free copy of my book, the Business Athlete's Regimen for a Great Life Through Better Decisions. Because you've got to start making great decisions to build a great life. And check out the franchise opportunities we're building at Homefront Brands. I think you'll like what you see. Thanks for being here and until next time, stay sharp, stay focused and stay unemployable in the best way possible. Let's go build something great together. Thanks for listening.