Everyone wants to be remembered. It's just how we are as humans. Entrepreneurs are especially bad, I think. And it makes sense for the most part, doesn't it? You spend your whole life creating a product, service or experience for people, that it makes sense you would want them to remember you after you're gone.
Many first-time entrepreneurs are most excited about the notion of making a ton of money. It's all about the Benjamins. You'll work tirelessly, drooling at the idea of earning a huge amount of money and all the luxuries that come with it. And that'll work—it'll keep you going.
That is, until it doesn't.
You see, life isn't about the money. There's way more to life than earning a high salary, having a huge bank account, or buying nice shit.
Before we get some random trolls in here screaming about how, "I don't think money is everything becuase I've never had money," I'm not saying that money isn't good—it's definitely good. And I've amassed enough of my own to know that. I'm just saying there's so much more to building a business than the financial upside attached to it.
Money is great, but you need to discover something deeper within you. A drive that will keep you going, no matter how bad shit gets. If you only care about money, you'll quickly learn how unfulfilling that pursuit is. Money can make you happy, but only to a certain point.
Clear your mind for a second and think about something: "Why are you really starting a consultancy?
Is it truly to achieve financial independence? If so, how much money do you want to earn? What do you want to do with that money once you've earned it? This second answer is your real goal. Your "why".
This is the single biggest thing for you to remember during your journey as an entrepreneur.
Perhaps you want to use the profit form your business to travel the world. Maybe you'll use it to pay for your kid's college education or allow your spouse to retire early.
I want to use my consultancy as a spotlight and a launchpad for other endeavors. My current consultancy allows me to buy real estate, invest in fledgling businesses, and pursue my crazy passion for automobiles.
This underlying "why" needs to be written down. Hell, it's worth getting it tattooed on your chest but I won't make you do that.
That "why" is going to be your guiding light—your "North Star"—when it comes to building your consultancy. It is your origin of truth and will be a point of reference to you for a long time. Keeping track of your "why" will help you avoid the mindset of building a business for the sole interest of money. Spend time reflecting on this "why" and use it as a yardstick for measuring your daily, weekly, and monthly goals. Are the steps you're taking moving you toward your "why"? If so, how so? If not, why not? Write down this progress in a notebook so you can reflect back on it at the end of each year.
Keep your "why" in mind and you will achieve it far sooner than you understand. Use it as fuel to build a great business, and do even greater things as a result.
- Write down your "why" somewhere it will be accessible in the futhre.
- Send me an email entitled "My Why" and let me know what you came up with. I'll make sure to respond to your email.
Subscribe to The Mavericks Project
Get the latest posts delivered right to your inbox