Earn Entrepreneurship

Unlocking Financial Freedom: How One Entrepreneur Made it Happen 

Lucy Vincent  |  April 26, 2024

How entrepreneur Lucy Vincent went from $20k debt to earning 7 figures and finding financial freedom.

Having $20k in debt was a low point for me — but thankfully it ignited a fire within me to turn adversity into opportunity and find the financial freedom I’d been searching for. After pouring my heart and soul into my business, I transformed it into a thriving 7-figure company through perseverance, strategic planning, and dedication. 

Here’s how I did it, and how you can beat the odds, too. 

Finding Financial Freedom — Getting Out Of The Red

After having some of my team members leave my company, taking with them one of my yearly clients worth $90,000, I realized every mistake is an opportunity for growth. 

To make sure you’re growing and never stagnating, here are some of the questions I recommend asking yourself to make sure you’re maxing out your potential:

  1. Does your software save you time and money?
  2. Does your team’s work create client wins and retention?
  3. Are your team members completing tasks efficiently to reduce cost and increase quality?

Had I asked these questions early, I feel confident that the knowledge I gained would have reduced my growing pains. 

Team Buy In: Your Vision = Their Mission

Many people talk about the benefit of good leadership, yet few talk about the cost of leadership. In the words of renowned football coach Kirby Smart, “You will be disliked despite your best efforts to do the best for the most.” I decided I was going to always do what was best for my business first. 

I made the mistake of granting excessive autonomy to my team, rather than showing them the way as their leader. Looking back, there were three steps I could have taken to avoid this: 

  1. Have difficult conversations. They will either unite your team or weed out the ones who aren’t there for the right reasons. 
  2. Don’t tell them – show them. Leading by example is the best way to get your team to implement your vision. 
  3. Cultivate an inclusive environment where your team feels valued and empowered to contribute creatively, facilitating their growth beyond your guidance.

Obliterate Your Comfort Zone By Taking Action

Comfort zones are meant to do exactly that: keep us comfortable. Which is great in some situations. But we won’t grow if we stay comfortable forever. Here are three action steps I recommend taking to escape your comfort zone and step into financial freedom for your business:

  1. Stop people-pleasing. Starting a business challenges childhood identities, forcing you to stop people-pleasing, putting everyone’s needs before yours to avoid coming off strong or “bitchy.” Consider this your green-light to ask for more money, sans guilt. The truth is, you’ll always be “too much” for someone – and that’s really none of your business. It’s better to be labeled a “bitch” than inauthentic. 
  2. Set unrealistic goals. This may sound counterintuitive, but I’ve never achieved my set business goals, yet I’ve doubled every year by setting intimidating ones. Pushing these boundaries forces growth, challenges every aspect of your business, and unsettles small-mindedness. 
  3. Prioritize self-care. Your energy is everything. At the end of the day if you aren’t taking care of yourself, you cannot lead your team, clients, or yourself properly. Whether you think you can or think you can’t, your mindset is in control.

Financial Freedom = Investing In Personal And Professional Development

Entrepreneurship is like a rocketship of personal development, testing every insecurity, limiting belief, and fear. I recently attended a retreat for women in business, and the takeaways I gained reshaped my perspective, affirming my path for professional and personal development. The most important ones were: 

Take a step back. Sometimes taking a break from your business can provide clarity. When you’re too close, it’s difficult to see the entire situation clearly. Like holding a dollar bill too close to your eye; if it’s blurry, pull it back and it becomes crystal clear. 

Keep good company. Who you surround yourself with is so important. Build relationships with people you admire, who lift you up, and believe in you. 

Focus on your zone of genius and delegate the rest. Don’t waste time on tasks you dislike; concentrate on refining your expertise instead of lower level tasks that don’t fill your cup.


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