- Ashley Cockwell
11 Tips for Building a Freedom Business
Updated: Mar 1
Getting a business up and running is a big investment of time, money, and resources. However, once you have a passion-based business that lets you live the life of your dreams while helping others live theirs, you’ll never look back! If you’re looking to build a business that maximizes your freedom and aligns with your overall life goals, you’ve come to the right place!
What is a Freedom Business?
If you’re searching for a business that allows you to make your own rules and live life on your terms, you’re already familiar with the concept of a freedom business.
While there’s no one-size-fits-all version of a freedom business, most people agree it involves using your passion to help others live their best lives while you get to live yours. If that doesn’t sound like freedom, I don’t know what does!
Now, what your best life looks like is where things get more personal. Maybe you want the freedom to spend more time with your family and be present for your children. Maybe you want to have the freedom to work from anywhere in the world, be it a hammock, a yurt, or a sailboat. Maybe you want the freedom of zero stress at the first of the month, knowing you have more than enough money in the bank to cover your bills and then some.
Whatever your version of freedom looks like, there’s a business model that will build the purpose-driven life you were meant to live. And I’m here to help you uncover, understand and start that business! I've been travelling the world for 3 years
Time Freedom Business
For many people, time freedom is the type of freedom they’re the least familiar with. Everyone understands financial freedom and with the growth in digital nomads, location freedom is becoming more familiar, but we don’t seem to hear as much about time freedom.
But I’m here to tell you, time freedom is one of the most overlooked and undervalued types of freedom there is! Sure, you could be making 7-figures from a cabana in the Maldives, but if you’re working 80 hours a week to maintain your business, do you really have any freedom at all?
Time freedom is the ability to spend your time how YOU want, not at the mercy of your clients, your projects, or your business. You’ve probably heard the term “passive income” in your research or from other online business owners, and this is one of the best ways to get your time back. When you’re just starting your business, choosing a business model that allows for more passive income is one of the best ways to increase your time freedom!
Financial Freedom Business
A financial freedom business means that your days of living paycheck to paycheck are over! Financial stress, and the want to overcome, it is often a big motivator as to why people start working on their online business or building a side hustle.
To truly build a financial freedom business, though, you need to build certain strategies into the framework of your business. Financial freedom is closely related to time freedom. If you build a business where you need to do a task that takes time to make money, at some point your ability to earn more will top out, simply because there are no more hours left.
By building a scalable business, you can ensure that you don’t have to trade time freedom for financial freedom. With the right strategies, you can have both time AND money at your disposal. In my signature program, Freedom Club, I teach a model that is strongly aligned with time, location, and financial freedom.
Location Freedom Business
A location freedom business is the most tangible aspect of a freedom business. Can you grab your laptop and head to the airport Friday afternoon, hop on a plane, and still be able to take client calls Monday morning? If so, you’ve mastered location freedom.
Location freedom is often romanticized with the often-seen Instagram pictures of sitting at a beach cafe with a margarita and a laptop. And while this absolutely is location freedom and is an amazing thing to achieve, it doesn’t always have to be so grand.
Location freedom can mean the ability to stay with a loved one indefinitely if they suddenly need support. It can mean the ability to work from the comfort of your home if you have health issues that may limit your mobility. It can also mean that you simply have the freedom to create and work from a space that you love and that inspires you every time you sit at your desk.
Whatever location freedom means to you, the ability to choose where and how you’ll work is a key feature of a freedom business. So start daydreaming about your perfect work locale!
11 Tips For Building a Freedom Business
Now that we know what a freedom business is and the types of freedoms it will bring you, the question is, how do I build a freedom business?
Fear not my friends! While building a business is a challenging feat, there’s nothing more rewarding than creating a business that lets you live your passion and support those around you. Building the life you want is your birthright and I’m here to help you create the life you were destined for. So, ready to get started? Good, let’s do this!
Here's what we'll cover:
1- Get Clear On What The “Freedom Life” Looks Like To You
As we talked about earlier, a freedom business isn’t one-size-fits-all. So to build YOUR freedom life, you need to know what that means to YOU.
Don’t get caught up in other people’s freedom lives. Just because someone built a life of freedom that makes their soul sing, doesn’t mean that following that same path will make you happy. You need to know what your values are, what’s important to you, and what your priorities are in life.
Take your time with this. Meditate, journal, think about your self and your life from all different angles. What does true freedom mean to YOU?
2- Do Your Research
Once you know what the freedom part of a freedom business looks like to you, it’s time to focus on the business part. What are you passionate about? What do you love to share with others?
If you’re not sure, read more about turning your passions into a business now!
If you already know, take that passion of yours and start googling. Who else offers services in your area of passion? What other businesses exist? Who do they serve? Who do you want to serve?
You need to look into:
people already in the space - what makes them successful, what do you want to emulate, what do you want to change, etc.
the people you want to serve - what do they need, how will you help them, where can you find them, etc.
This is a very quick overview of the process but that doesn’t mean it's not important! This research will create the backbone of your business.
3- Determine Your Freedom Business Model
One of the most important pieces of building a business that’s truly “free” is implementing a model that allows for freedom. If you want the location freedom to work from anywhere in the world, you need an online model. To maximize your financial freedom, you need a model that is scalable and isn’t tied to the amount of time you work.
Choosing a business model that matches your goals, values, and purposes makes sure that your business really is a freedom business, not just a 9-5 grind in a different hat.
4- Get Real About Your Finances & Money Mindset
How we think about money has a deep effect on our ability to grow a financially successful business. Limiting beliefs and a scarcity mindset can hold you back from reaching the financial freedom you deserve.
Overcoming your anxiety about money and opening yourself up to abundance are so important in building the freedom business of your dreams.
5- Build an Emergency Fund / Financial Buffer
The first step on your journey to embracing an enlightened money mindset is to build a financial buffer to protect you while you build your business. We all know that Rome wasn’t built in a day, and that means your perfect freedom business probably won’t be either. Whomp Whomp.
Don’t be discouraged, all that means is you need to be thoughtful about how and when you build your business and make sure you’ve got all your financial bases covered. Abundance is flowing to you, you just need to give it a bit of time.
6- Familiarize Yourself With Digital Business Tools
Once you start building your business’s workflow, you can start to look into tools that can help you streamline your processes and better manage your time. There are so many tools out there that can help you automate the administrative side of things so you can focus on your passion.
A few of my favorites are 17 Hats, Kajabi, and FloDesk. I have more information on why I love them (and maybe a discount code or two…) here.
7- Step Into a Freedom Mindset
I deeply believe that entrepreneurship is 20% strategy and 80% mindset. To truly live a life of freedom, you need to wholeheartedly believe, down to your bones, that you DO deserve this!
You deserve to make the money you want. You can work from wherever you like. You are worthy of taking time for yourself and not dedicating your whole self to a job.
It all starts with you, so get on board and start telling yourself you can do this. And you will.
8- Start Networking With Others Living a Freedom Life
You’re not the first person to do this, so don’t try to figure it all out on your own. Connect with those who’ve already done it, those who are trying to figure it out, and those who are just starting to daydream about the possibility.
There are Facebook groups and meet-ups for digital nomads, groups for online business owners, and virtual and in-person networking events. Find your tribe and build connections with like-minded people.
9- Find Your Dream Location To Start Your Journey
Grab your favorite beverage and get comfy, cause this is the fun part. Start picturing your ideal life. How do you spend your days? What do you see when you look out the window in the morning? Where’s the first place you go when you step out your door?
When you can envision your life of freedom, you can start narrowing down where in the world can offer you everything you’re looking for. So whether you journal, vision board, Pinterest, or paint, start creating a vision of your ideal life. Cause it’s coming for you!
10- Prioritize Your Freedom
Too often, people set out to build a freedom business but after a time find themselves being pulled back to their old ways of doing things. When you’re fighting through the building phase, it can be easy to lose the forest through all the trees.
So remind yourself often to prioritize freedom. Make choices that align with your ideal life, your values, and your purpose. Don’t lose sight of the end, you're too close!
11- Celebrate Your Wins
I know you already know this, but I’m going to remind you anyway… YOU DESERVE TO LIVE A LIFE YOU LOVE! And you deserve to celebrate the wins along the way, big and small.
The journey is just as important as the end, and once you reach it, you’ll have a new different end to work toward and the journey will continue! So enjoy yourself, have fun, and fight the good fight. You got this!
And if you’re looking to join a community of people just like you who will celebrate with you every step of the way, check out Freedom Club. We’re a community of freedom seekers just like you and we’d love to get to know you!