Episode #124
Here’s the short version. To listen to the full episode with more stories, examples and insights, click or tap the play button above!
Let's talk about how much money you want your business to make.
In other words…What’s your number?
Unlike in a job, there is no financial ceiling as a business owner. The sky, or your ambition, is the limit.
The limitations that you have in your career such as there being fewer roles at the top and a ceiling on how much you can earn depending on your specialism, just don’t exist in online business.
But, it’s not just about the money. If you want to change your life, to create a business with meaning, that fulfils you and makes an impact in the world in some way, there is more to it.
You need more than just the chance of making a million to get you to the other side. Things like passion, purpose, resilience and energy all have a huge role in becoming your own boss.
IMPORTANCE OF HAVING A SUCCESS VISION
One thing I’m always talking about is the importance of having a vision for the future you desire. To know exactly what you want your life to look like.
From where you are living, who you are with, your health situation, your assets and basically everything that is in that ideal life.
Your vision of success acts as a mindset tool to keep you motivated and focused when things are challenging.
But there is another reason for creating that vision.
You need to know where you want to get to, so you can design and create a business that is capable of getting you there.
WHAT IS THE NUMBER?
This isn’t about the number you need to make to pay your bills - that is your ‘ NEED to have’ number. It’s the figure you will need in place to create that vision you have in your mind - or Your ‘WANT to have’ number.
How big or small that ‘want to have number’ is, will determine the business you create. So many people make the mistake of creating a business that makes them money but does not match the type of life they want and they end up having to pivot and change it anyway. It’s so much better to think it through at the start.
Create your business for the life you want, rather than let your business dictate your lifestyle.
HOW TO DISCOVER YOUR NUMBER?
Look at what you have written down as your vision of success. The detailed description of what you would love your life to be like in the future.
And put a number on each thing. So how much would the house cost, the travel, any cars or other things you want in your life? How much would you need to make each year to sustain that kind of lifestyle?
When you have the number, you can start to think about how you can get to it and put a timescale on achieving it. Your business strategy can start to come into form.
HOW DOES IT FEEL?
When you have that number written down, whether it’s 100k or 1 million, how does it feel? Does it feel realistic? Does it feel achievable?
Because if it feels like a fantasy or something that you can't hope to make then you will need to do some work on your money mindset, before you move forward. If you don’t believe it’s possible, it will not happen. When you are in a career you are conditioned to only think as earning as much as the top job in your specialism. So you go for years thinking that no matter how hard you work or how successful you are… there is a ceiling.
There is no limit to what you can earn in the online business world. So you need to start thinking beyond that career upper limit. That it is possible to make that million. But it is totally up to you if you want to or not.
CONCLUSION
You get to decide what revenue you want to generate. You get to decide how big or small your company will be. You get to decide exactly how it is designed.
Because YOU ARE THE BOSS.
