Why It’s Okay to Lower the Bar in Your Business
hey. what if I told you you didn't have to try so hard?
*pauses for reaction*
I'm not sure what my Enneagram is (I know, I know I'm THE ONLY person who hasn't taken this test) but whichever one just wants to do good & meaningful work while also going to yoga in the middle of the day and eating carbs while dreaming about more food is my number fo' sho'.
(true story: 10 years in and my Hubs is still befuddled by the fact that when my sisters and I are together, literally all we do is: cook, eat, talk about cooking/eating and he's like, "HOW?! How do you guys always manage to talk about your next meal while you're still eating the current meal?!")
If you're like me, you like to get sh*t done and achieve and create a legacy and all that. You might even be a perfectionist. But after last week's swift kick in the pants, I thought I'd cut us all some slack and say:
You don't have to kill yourself in your business.
Seriously. Am I the only one who looks around and thinks, "when did building a 6-figure (or multi-6-figure) business become THE measurement of success?"
Do you notice this, too? That it's like every single webinar/online course/coaching program is guaranteeing you a 6-figure business in less than a year!!!
Let me shout out a few things real quick:
of course there're exceptions, but typically it takes longer than 12 months to build a 6-figure business
we need to ask ourselves why 6-figures? and
I believe there are much more meaningful measurements of success in your business
We don't have a lot of time so let's skip straight to #2 and #3...
Why 6-figures?
Now, don't misunderstand me: I believe in metrics and I 100% believe money is a GOOD thing. It's a symbol of value and it's a helpful tool. It's not dirty, sinful, shameful, etc. (fyi - most of us have so many weird hang-ups around money, right? my personal belief is if you're a greedy, rich a**hole you were probably a greedy a**hole before you had money).
And, frankly, I'm happy as hell to see women earning their own money and accessing resources that weren't available to us before (friendly reminder it wasn't until the 1960s that women in the US could open a bank account).
But still it's worth asking: how much money do I need? WHY do I want more money? What amount of money actually supports the life *I* want? (not the life Instagram tells me I should want).
A helpful place to start is with an actual number for your Minimum Viable Income. In my small group program this week, one homework assignment was to get a handle on MVI. I thought it'd be a helpful exercise for you too, so follow this link to get the worksheet.
Point is: say $50,000 a year would positively change your life and support your dream life style, what's wrong with aspiring to that number?
Real talk: I don't earn 6-figures in my business. And right now, I'm okay with that. Sure, my long-term goal is to pay myself $100K but know why? It's not so I can trade up my Chevy mom-SUV for a Porsche (though if that's your bag, you do you!) it's so I can support my Hubs in his dream of becoming a stay-at-home Dad and spending his afternoons baking bread and rolling pasta (thank god we both love carbs).
Which brings me to my next point: how do we REALLY measure success in our business? This is where it helps to know your MVI (I bet it's lower than you think!). To me, a successful business is one that:
earns you your MVI (and yes, in the long-term, grows beyond that number if you want it to)
has consistent clients and predictable revenue
allows you to work reasonable, sustainable hours (honestly, what's the point of making a sh*t ton of money if you're miserable working 15 hour days and never get to actually enjoy your money?!)
affords you time and energy to pursue interests/relationships outside of your business
So no. I don't earn 6-figures in my business. But I consider myself a success because: I have a business I love that genuinely helps other people. I earn the money I need to be financially independent and help support our household. I have consistent clients and predictable monthly revenue. Plus, I get to go to yoga on Fridays and I finish everyday by 2:30 to pick-up my daughter and go play and have dinner with my fam. I don't have to work in the evenings or weekends and instead can have guilt-free Netflix binges and brunch with friends.
Basically, my business is built to support my best life. Not the other way around. And that's success to me.
What about you? What are your measurements of success in your business? I'd love to hear from you :)
Here's to lowering the bar in the best way possible!