I have become increasingly aware of a breed of so-called business coaches who market entirely based on “Make 6 Figures NOW!” It seems that more and more frequently society is being encouraged to define success by how much money we gross. These days hitting 6 FIGURES seems to be a benchmark for how far we’ve gotten as entrepreneurs. In the same way that a particular number on the scale does not mean the same thing for every human body, nor can reaching a goal weight ever make us feel whole and complete if we base our worthiness by x number of pounds, I’m not convinced that 6 figures simply for the sake of 6 figures is really all that and a bag of chips. SO I want to offer a few observations and pose a few questions regarding this phenomenon.
- Location, Location, Location: money is relative and where we live makes a significant difference in our expenses and cost of living and how much bang we get for our buck. A person grossing 100K in Manhattan or Hawaii is going to have a very different experience than someone grossing 100K in Mississippi. This is going to make a huge difference in the quality of life. Therefore basing your goals on an arbitrary number because it is trending on the latest blogs and social media pages can not serve you as much as understanding your needs and basing your financial goals accordingly.
- What do you really want? According to Forbes the sweet spot for happiness is somewhere between 50-75k depending on needs. The thing is that businesses that generate more money also need an exponentially greater infrastructure of systems (and staff) to support them. There is a significant difference between what it takes to run a business which grosses between 50-100K annually, a business that grosses 250K and a business that is hitting 7 figures and beyond. Is managing the responsibilities and magnitude of a high 6 or 7 figure business what you want to do with your life? The question you need to ask yourself is “WHY?” Why do I want to gross X figures? What important things would I be able to achieve with that income that I can not achieve already?
- What is your vision for your ideal business? What kind of impact do you truly want to make in the world? If you get really honest with yourself how much exposure do you actually want? Do you have dreams of being the next Oprah, being the darling of Ted Talks or the latest YouTube Sensation? Do you want to create an empire with an international following and a life filled with traveling to events and speaking opportunities where you are supported by a staff of people who also depend on your business to thrive? How far do you want to take it? What is the point really? AND How hard do you really want to work for it?
I actually believe that how you feel right now is far more important than whether you hit 6 or 7 figures this year. Quality of daily life, health, happiness and contentment is true prosperity. If you are stressed out and worried about whether you are reaching your financial goals while you are missing out on connecting with loved ones, you have no time for fun and instead you are always focusing on what you hope to achieve some time in the future, you are missing out on the only thing we really have which is being HERE NOW!
Prosperity starts in the moment, not some day far off in the future. Wealth is far easier to manifest when you really know the purpose you need it for. Instead of regarding a specific number as your goal, you might consider it a benefit of a healthy money mindset.
So I leave you with some questions to ponder…
- Why do I want more wealth?
- What impact will money afford me that I do not have today?
- What is the message and mission I want to share with my world?
- Knowing what actually matters to me, what action can I take today to make greater impact right now?
I hope that by asking you these questions I have offered you a few possibilities today. You are clearer about the reasons you’d want more money and what you would do with it. Hopefully you have realized that you already have a lot of what you want today. You recognize ways you can achieve greater impact with the causes that matter to you and you can do something about it at your current income level. You can let yourself off the hook that some arbitrary number is the most valid evidence of success and instead base your wins by how you feel, how you spend each moment and how much influence you have on the things that matter to you.