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Financial Independence

 

The concept behind Independence Day was for our country to not be held to the rules of the crown. Becoming an entrepreneur is basically the same thing. An entrepreneur’s main purpose is to work for themselves and have financial independence. The reason for wanting to have expendable finances could be for a multitude of different reasons. The entrepreneur may have gotten fed up with their overbearing boss at their day job and decided enough was enough. Maybe they just want to work for themselves. Some may have decided that it was time for them to make a change in their life. 

Reasons Behind Starting My Own Business…

My reason for deciding to start a business was so that I could have financial freedom. I stay at home with my daughter full time while her dad works in a corporate setting. He would like to own his own business at some point as well. Unfortunately, right now it’s not economically possible for the both of us to venture out. Another motive for my decision to become an entrepreneur was to make a dent in my student loans. According to a report on studentloan.net, former students have racked up 1.4 trillion dollars worth of debt. With the new income, I can make larger payments in addition to my current loan installments. I am also to able to contribute to the essential needs of our home. I can even contribute to anything extra that I may see. Say for instance I want to buy a new pillow or buy my daughter an expensive toy, I now have the means to do that. (I’m also slightly addicted to online shopping for her.)

Reaching Financial Independence…

On top of that, my newfound income is affording me the luxury of planning ahead.  It’s allowing me to save for my childhood friend’s wedding next year.We’re originally from Little Rock, Arkansas, but she and her fiancé live in Maryland. They are planning to wed in Virginia. I am most definitely looking forward to the festivities. I’m not insinuating that if I had not become a small business owner I wouldn’t have the funds to attend. But being able to pay for it on my own and not take from the household is an added bonus.

Finally, with my new found financial independence I can pick up a new hobby. I have been wanting to start a garden forever or possibly take back up the Yoga classes I enjoyed in the student recreation center in college. If I didn’t take the initiative and begin the first steps to possess what I want, none of these things would be possible. Owning a small business is just the first step, I eventually want to invest in stocks or find another way to have some residual income. Taking ownership and creating opportunities for myself has allowed me to dream and think of even more ways to generate an abundance of outside revenue. At this point the sky is limit, and I’m shooting for the moon and hoping to land somewhere amongst the stars.

Are you interested in starting your own virtual assistance business? Check out our blog, Tips And Tricks To Starting Your Own Virtual Assistant Business, that will guide you through the process.

 

 

Karimah Mitchell is a mother, aspiring author, and entrepreneur. She just started her own Social Media Management company called Mitchell Enterprises LLC. Her goal is to help small business owners and entrepreneurs have a positive online presence through various social media platforms.

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