One of tenets of business I hold dear is this:
If your business doesn’t make money, it’s not a business; it’s either a charity or a hobby.
Here’s another truth I hold dear:
Money is not the end game; the purpose of money is to fund your ideal life.
And you see this all over my marketing materials:
Your business should CREATE your ideal life, not COMPETE with it.
When you’re a business owner, if you DON’T pay attention to money, you’re bound to fail. Yet if you see everything through the lens of money, you become a slave to your business. You become reactive and blown by every whim of your customers and competitors.
You must set goals, and you must create plans to reach them. You must be as accountable to yourself as you are to customers and employees.
You must articulate your own unique definition of success and make sure that definition encompasses both professional and personal aspects of life, or NO DOUBT YOU WILL FAIL IN ONE AREA OR BOTH!
What constitutes success in YOUR BUSINESS?
Is it acquiring a certain amount of money? Is it based on gross revenue? Net profit? Number of employees? Number of locations? Number of satisfied customers? Your status among competitors or within your local business community? Or…?
What constitutes success in YOUR LIFE?
Is it ONLY having a successful business? Or is it about a happy marriage? Well-adjusted children? A healthy body? A spiritual existence? Time to enjoy hobbies and experiences? Supporting causes you care about? Or…?
Every time I go to the beach I think about how much I love to go there and it reminds me to prioritize what I value and what I really, truly enjoy so that I don’t fall into the trap of making business my whole life. I value time alone in beautiful places, yet I don’t spend enough time like that. It’s my right and my responsibility to do so. I will FEEL more successful and BE more successful and then be better able to serve others.
Please take a moment to watch and listen, and then I challenge you to take a few more minutes to reflect on how you’ll know YOU are successful.