How to Build and Run a Business That Gives Us Time & Financial Freedom w/Lars Hedenborg
The one thing all entrepreneurs have in common is that we started our businesses in order to give ourselves more time and money freedom. The ugly truth is, most entrepreneurs have zero freedom. They are constantly stressed and exhausted. As a result, their families suffer. What do we need to do in order for our businesses to give us true freedom? How can we get out of doing low value work? How can we make sure our businesses aren’t negatively impacting our families?
On this Boss Dad spotlight episode, I’m joined by founder of Real Estate B School and host of the Business Freedom Podcast, Lars Hedenborg. He shares powerful business, marriage and parenting nuggets, while discussing how he built a 7-figure business that still allows him time freedom.
“It’s not just about being a world-class leader, it’s about being a world-class father and husband.” – Lars Hedenborg
Things We Learned From This Episode
1. Know your worth and your dollar per hour value (11:41 – 13:47)
One of the biggest barriers to our growth as entrepreneurs is not having a concrete dollar value for our time. Because of this, it makes it hard for us to know what we should be spending our time on. If we know that our time is worth $250 per hour, we won’t spend it on $10 per hour tasks.
2. Delegate to elevate (14:22 – 16:50)
Entrepreneurs often wear all of the hats in their business, but the problem is, some of the work is something we could be passing off to someone else. Pay them $10 per hour and then we can focus on higher level work.
3. It’s impossible to grow a business if you don’t know the numbers in it (17:02 – 17:48)
The first step to successfully scaling our businesses is tracking and measuring everything we do. Once we know our numbers, we can systematize processes, optimize them and even teach other people how to do the tasks.
When our businesses aren’t set up with systems and processes, we become chained to them. As a result, our partners and children carry the weight because we can’t be present with them. We have to learn that our time is valuable, and that doing every single role in our business isn’t noble, it actually puts our families at financial and emotional risks. We have to know our numbers, get a good system down, and bring on people who can help us work more efficiently. This is how we show our children that running a successful business venture can be fun, fulfilling and financially viable.
No B.S. Time Management for Entrepreneurs: The Ultimate, No Holds Barred, Kick Butt, Take No Prisoners, Guide to Time, Productivity, and Sanity by Dan Kennedy
The E Myth by Michael E. Gerber
Lars Hedenborg is the host of the Business Freedom Podcast and the founder of Real Estate B-School, an education and coaching program for top producing real estate agents looking to build sustainable, systems-driven businesses. He is passionate about bringing real-world tools, and strategies to top agents and team leaders so that they can achieve success and freedom in the real estate business. Go to RealEstateBSchool.com for more information and get a free Business Growth strategy session at REBSstrategysession.com.
MeetEdgar is a social media automation platform founded in 2014 by Laura Roeder who was tired of doing social the time-wastey, old-fashioned way. Since then, Laura and the MeetEdgar team have served thousands of small businesses and entrepreneurs with effortless automation and best-in-class social media marketing education.
You are going to love how MeetEdgar helps you amplify your presence and message across multiple social networks. Sync Edgar with Facebook, LinkedIn, Twitter, and Instagram and connect with your audience where they are, when they’re there.
Head on over to meetedgar.com/bossmom and use the code bossmom to get an extended 60-day free trial.
We love hearing from you!
If you’ve got a question about today’s episode or want to leave us some inbox love, you can email us at firstname.lastname@example.org. Or, you can always find Dana hanging out in her happy place, the Boss Mom Facebook Community.
We would also LOVE it if you’d leave a podcast rating or review for us on iTunes! We know it can be kind of tricky to figure out, so here are a few step-by-step instructions on how to leave an iTunes rating or review for a podcast from your iPhone or iPad.
- Launch Apple’s Podcast app.
- Tap the Search tab.
- Enter the name of the podcast you want to rate or review.
- Tap the blue Search key at the bottom right.
- Tap the album art for the podcast.
- Tap the Reviews tab.
- Tap Write a Review at the bottom.
- Enter your iTunes password to login.
- Tap the Stars to leave a rating.
- Enter title text and content to leave a review.
- Tap Send.