The BIGG Successs Show
Freedom Or Security - Which Do You Choose?
Having one often means sacrificing the other. Learn how you might have both! Listen to the show & read more here.
Welcome to our 43rd big success show. Today we ask which do you choose? Freedom or security? The big success show with George and Mary Lynn. Freedom and security, those words have so many meanings, Mary Lynn. And so I think the best place to start is let's define exactly what we're talking about. When we say security, we're talking about things like your financial security, your job security. And likewise, when we're talking about freedom, we're talking about your financial freedom, your career freedom and that sort of thing. Yeah, and we're told that you can't have them both. You got to have one or the other, but we want to examine that. Well, and so Mary Lynn, when I say security, what comes to mind for you? I think about a regular paycheck, salary increase every year, not having to worry about losing my job. I think that's pretty consistent with what most people would say. And let's go to the other one, freedom. When I say freedom, what does that mean to you? It means creative control. No money worries. I can set my own schedule. I can be my own boss. You've kind of answered my next question and our listeners can't see it, but which one of those is more fun? Obviously freedom. And when I asked you about freedom, you instantly smiled. Right. Well, I think they could probably hear that in my voice, right? Probably so. So why is it that we all love the idea of freedom? Why is it that we spend so much time worrying about security and so little time thinking about our freedom? Well, if it wasn't for those pesky bills and off that pesky family that we've got to provide for, it's money. We need the money. Yes, money, money, money, money, right? As Donald Trump would say. Well, what if you could have both, though? What would you think of that? I'd say bring it on. Obviously, that's ideal. You know, we want freedom and security. Well, and so let's look at a couple of scenarios and I want you to kind of just follow along with me. If you're an employee with an employer, think about this. Think of your employer as your customer. Think of your services that you deliver to your employer as your business. Now, here's the question. How many customers as an employee selling your services to an employer? How many customers do you have? You've got one. You've got one big one. That's right. And so if something happens with that customer, that customer decides they no longer want your services, what happens to your income? You've lost 100% of your customer base, so 100% of your income is gone. It's all gone. So how much security is there in that? Okay, and we're going to come back to that in just a second. But picture yourself now in a business with five customers. And let's just say that each of those customers gives you an equal amount of business. So one fifth of your business comes from each customer. So what happens if you lose one? Well, you still got the majority of your customer base and you've only lost 20% of your income. That's right. So which one of those two is more secure? Having multiple customers, obviously. But okay, let me just throw in a little wrench here. If I do have a job, there is some security in the sense that I may have unemployment insurance. Or I've signed a contract with my employer, so they're going to buy me out if I've lost my job. Well, Marilyn, that's certainly true. And we don't want to ignore that. But here's the thing. How do you feel if your employer comes to you and suddenly says, you know, we're facing some cutbacks and your job is gone? That unemployment insurance obviously is a nice cushion, but it doesn't change how you're going to feel about that. How do you feel, even if you have a contract, how do you feel knowing that you're kind of out there and you've now got to find something? I think the point we're trying to make here is that when you're dependent on one source of income, you can't ever be free. So isn't there more security in multiple sources of income? I see what you're saying here and obviously in more freedom, coming up two ways to get started having both freedom and security. The first way to have freedom and security is to start a part-time business. And the thing about this is it's wonderful because you still have your full-time job, there's all your security, and now you're going to start trying to do something part-time. It can even be as simple as some type of freelance work. It can be related to what you do or not, but as you get customers in, you're diversifying your income. Now, picture this. Your part-time business gets to the point where you have more income from it than you have from your full-time job. Is that freedom? Yeah, because you can tell the boss to shove off. That's right, and you're not threatening any security. So that's one way. The second way is this. Start setting aside a set amount of money each month, invest it. And as you invest it, you're going to grow your passive income. As you grow your passive income, at some point, your passive income will exceed your salary. Is that freedom? Oh, yeah. Absolutely. When your money is working for you, that's a good thing. And actually, we did a show not too long ago on that very topic about passive income called "Getting Aggressively Passive." And we've got a link to that on BigSuccess.com. Also, a written summary of today's discussion is at BigSuccess.com on our blog. And let's get our big quote today, George. Our quote today comes from the great author, Alan Cohen, who said, "It takes a lot of courage to release the familiar and seemingly secure to embrace the new. But there is no real security in what is no longer meaningful. There is more security in the adventurous and the exciting. For in movement, there is life and in change. There is power." Don't let a false sense of security hold you back. Ultimately, true security comes from the freedom you find when you pursue your dreams with passion. Next time, we'll talk about how to get the credit that you deserve. Yeah, we're going to offer up a big solution to one of our listeners. That's right. What to do when you're doing most of the work, but getting very little of the credit. That's the case where you want to tell the boss to shove off, huh? Until then, here's to your Big Success. The Big Success Show at B-I-G-G Success.com. [MUSIC] [BLANK_AUDIO]