The goal of business is to make money.
“Wait,” you say, “I’m not in this just to make money… there’s more to it than that.” And I believe you, but hear me out.
Now money may not be the sole reason you started (or want to start) your business. You may have a dream of helping people overcome a problem you’ve already solved. You may possess a valuable talent or ability. Maybe you are just tired of putting in the hours for someone else’s company and you think you could do it better and on your own terms. Go girl!
There are many reasons for starting a business, but there is one definition of a successful business. It must be a system that produces more cash than it spends.
If you are not actively engaged in commerce and trade — if you’re not making money — then you do not have a business (yet). You have a wish, a promise, an idea in search of investors, a business plan, etc. But you don’t have a business.
To put it very simply, you set your mind toward making something happen that brings in money.
Today I’m reminding you about how to frame your life in terms of success as you define it, so that you have the money you need to spend, save and give what you want, whenever you want, and to whom you want.
In the “Define Your Dreams” workshop, I’ve identified seven areas that are not necessarily tied to business, but have everything to do with business. Once you set goals in these areas, you’ll know exactly what you want, and exactly what you need to do to attain it.
For a small business owner, this work is crucial to your success, because it forces you to think about the relationship between real life success and your money. Ahh, the old work/life connection again.
I only ask one thing before you sit down to this task of defining success…
You must take total control of these areas. And if you feel that one or two of them are areas where you have no control, I want you to pretend that you have control.
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Define your goals in these areas so that you are able to know when you’ve achieved them.
Also, don’t gloss over some areas because you think they don’t apply to you. It’s amazing to me how some people say they don’t have money for certain things, but if their car stops running or their cell phone breaks, they find a way to get it fixed. It’s because there are some things that are so necessary to your well-being that you’ll do whatever it takes to accomplish or attain them. You “need” these things just to get by.
In the same way, I want you to identify your basic need. Imagine the minimum you will accept in each category. For example, to be healthy, what does that really mean to you? Does it mean you will be able to touch your toes in one month, or get at least seven hours of sleep at least 6 nights each week? Or does it mean you’ll be able to run a marathon in less than 4 hours? Define what you need to see to call each category a success.
Are you ready? Go:
- Health
- Relationships: both personal and professional
- Personal Finance
- Material Items
- Spirituality
- Fulfillment
- Fun
By the way, you can download worksheets that accompany this exercise. They are found within the 6-Figure Biz Club, my online course that walks you step by step through a business plan you will really use. Guidance is helpful, but if you’re creative — and I know you are — you can dream up very specific answers for each of these areas of your life.
Remember, I’m literally giving you permission to determine exactly what you want. It’s OK to be a control freak in this case. Isn’t that great? It’s fun, too, you have to admit!
Some of these areas will require a stretch, but think of your business as the means by which you will “back into” each one of your dreams. Your business is the channel through which you’ll be able to frame your success, because your business provides or allows for each for these categories’ successes.
Empowerment comes when you match the dollar amounts to your realistic life goals. You may be surprised by what you discover about your monetary requirements, and how much you really need to be successful.
This knowledge and control sets you free to really succeed.