Do You Have Financial Freedom

 

Everyone wants financial freedom. Many people take the path of an entrepreneur and open their own businesses to achieve this. However, among the many business startups out there, hardly any grow or survive.

Four stages for business growth and expansion

There are four identified stages of business development that are critical for growth and expansion.

The first is Stability. The foundations of a business are anchored on the entrepreneur’s mastery and consistency of their purpose.

The second is Cash Flow. This is about finding the niche and building a system of controls for the business.

The third is Time. An entrepreneur builds his dream to retrieve his time. He establishes the vision and direction of the business while the team implements the mission and operations.

Fourth is Prosperity. Entrepreneurship is enriching the self while enriching others.

The FREEDOM Framework

Mentors developed an integrated framework to help an aspiring entrepreneur start a business to further understand these four stages. Or an existing entrepreneur transforms the business to operate even without him. The mentors created the Entrepreneur’s Toolbox for Financial Freedom or the F-R-E-E-D-O-M Framework.

FOUNDATION is the period of mastery of business fundamentals to eliminate the chaos and create internal stability. This first stage of growing or startup is to ensure we gain profitability, productivity, and enough quality information to make a good decision.

REASON FOR BEING. Knowing the BIG WHY for being in business will propel an entrepreneur to thrive and sustain growth. The reason for being will entail self-mastery and goal mastery.

ER FACTOR. A clear niche in the market will enable a business to have stable cash flow. Steady cash flow is the next primary phase in the life of a company. The “ER” factor refers to creating a niche by being better, faster, and other “ERs” than the competition in terms of products and services. The ER factor should also be applied in terms of generating profits, i.e., Better conversion rate, higher average orders, more transactions, more leads, and higher margins.

In terms of priorities, most people start with lead generation, but this is actually the most expensive way. Unless there are enough, leads should be the last area of focus.

EMPOWER. It is time to lift the business to the next level and empower it for more growth. This is achieved by creating suitable systems to handle the extra work. There are four areas to empower: 1) Structure; 2) Process; 3) Management; and 4) Technology.

DREAM TEAM. When a business is profitable, has excellent cash flow, and operates with standard procedures, the next step is to build a solid team. This is when the business owner can free up his time, and the business will operate even without him.

The role of an entrepreneur transcends to supporting the team. The team supports the customers. The customer supports the business, and of course, the business supports the entrepreneur in full-cycle.

As an entrepreneur, the critical attention is in selection and recruitment and the induction of new team members to the vision, mission, and core values of the company. The focus is ensuring that the six keys of a solid team are present:

1) Strong leadership

2) Vision and clear key performance indicators

3) Shared value and straightforward standard operating procedure

4) Action plan

5) Support risk-taking

6) 100% involvement and responsibility

OPEN FLOOD GATES. Now that the business machine is healthy functioning, expect the business to scale up fast. As it expands, expect some cracks and problems to arise. The entrepreneur will need to keep an eye on these problems. And plan for the future with a view of the present.

As the business prospers, this is also a time for the entrepreneur to leave his legacy and contribution. Start corporate social responsibility programs and understand personal financial stewardship to God.

MULTIPLY. At this stage, with the excellent cash flow, great systems, and a solid team, the entrepreneur is now in a position to multiply the business through:

1) Expanding in other areas;

2) Franchising; or,

3) Selling the business at a premium and cashing out to buy a more significant business.

The Mentors of Lead More

With the desire to become an instrument of change for others, the Business Mentor was invited to Lead More group. It is an organization of mentors who design, develop and deliver entrepreneurship frameworks with the purpose of prospering entrepreneurs and professionals on the way to mastery of their craft.

Lead More was born from six mentors’ shared passion for teaching.

In the Philippines, Jojo Apolo is the only certified master practitioner & trainer in Neuro-Linguistic Programming (NLP) by both USA and UK academies. An Asian Institute of Management (AIM) alumnus, an author and business turnaround mentor specializing in sales and market development, business strategy & systems, and personal & organizational development.

Known to many as the Franchise Guru, Butz Bartolome has over 35 years of experience in franchise consulting. He mentors aspiring and existing entrepreneurs on franchising, business planning, development & expansion, and family business succession. He is also a columnist and 2012 Book of the Year Author.

AIM alumnus Carlo Calimon is a serial entrepreneur and recognized digital game-changer. Acclaimed for his work in digital innovation, he is a business mentor who specializes in digital marketing, product development & innovation, and entrepreneurial mindset.

Author of the nationwide bestselling books, Dean Pax Lapid is one of the respected entrepreneurship mentors in the country. He specializes in strategic management, business development, enterprise creation and growth, financial wellness, and family corporation growth. Aside from being a bestselling author, he is an Asian Institute of Management (AIM) professor and business consultant.

A mentor in entrepreneurial finance, Marites Dimaculangan is a certified public accountant. She is also an AIM alumna, she mentors and specializes in financial literacy & analysis, personal finance, accounting, and taxation.

Life coach, toastmaster, and author, Raju Mandhyan has 15 years of experience as a learning facilitator in communication skills, entrepreneurial leadership, and personal & organizational development. He serves as a mentor on innovation and entrepreneurship, leadership & strategy, and sales & communication.

They are active mentors in the Philippine Center for Entrepreneurship – Go Negosyo and/or the Truly Rich Club with the heart to share. Their purpose is to mentor more, lead more and give more in their lives.

As respective experts in their field, they created the FREEDOM Framework. It is a toolbox that will lead an entrepreneur towards prosperity in business and family through applied knowledge. It will enable an entrepreneur to have more free time for a balanced work-life-family lifestyle and give back to society.

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You may contact Armando “Butz” Bartolome for questions and more information.

By email: [email protected]

FB Page: Butz Bartolome

Website: https://www.butzbartolome.com