In the world of business, there are three things that all business owners desire:
Financial Freedom, Time Freedom and Mind Freedom
Financial Freedom means having enough cash flow to enjoy the desired quality of life.
It’s not just about profit; it’s about being able to manage cash effectively.
Time Freedom is all about balance – balancing work and personal life to be able to do the things outside of work that you enjoy.
Finally, Mind Freedom is the ability to sleep at night, knowing that your business is being managed efficiently and effectively.
How does the FGG principle apply?
This principle involves finding out what you want within your business, going and getting it, and then putting it back into the business.
First you need to understand what you want to achieve and what roadblocks need to be broken down to get you there quicker.
To deliver Financial Freedom, you need to manage your business’s cash flow effectively.
This could be by increasing turnover and profit, but also by understanding the language of cash flow.
To deliver Time Freedom, you must find balance in your life.
This means ensuring that you have enough time to do the things you enjoy outside of work and are not a slave to your business.
Finally, to deliver Mind Freedom, you should feel a peace of mind when it comes to your business.
This means managing risks, avoiding tax surprises, and ensuring that your business can sustain a downturn if it should happen.
By using The FGG Principle, you can achieve your goals and deliver the services that you need to run a better business.
For more advice on this concept, get in touch with our expert accountants today who can provide you with a more detailed insight into this.