How to Know What You Want to Do for a Living
I sat there with kind of blank stare on my face. It was a tough question and honestly one I hadn't really considered.
He asked me once more, "And then why exactly practise yous want to make one million dollars a year?" The person asking was a very successful 'new lifestyle' friend of mine named Dave who was mentoring me.
I dont know, I stammered, I guess if fabricated a 1000000 a year I would take enough to embrace the lifestyle I want and still non have to worry about coin?
He shook his head slowly. And then magically one million dollars is the verbal number that gives you lot the lifestyle you want?
Wait he explained, lets say you make roughly $1,000 to $2,500 per calendar month per client right? On your side business you are currently making about $five,000 – $7,000 a month, which is $lx,000 – $84,000 a twelvemonth.
If you wanted to make a million a twelvemonth income that would be about 35 clients 10 $ii,500 (loftier stop) which is just over one million a year.
I got where he was going with this. I was able to manage 2-3 clients at a time even with my full time task merely not many more.
When I quit my job I would of grade have more than time to get more clients and make more coin.
But the main reason I wanted to quit my task in the starting time identify was to take more costless time! If I were to go from 2-3 clients a month to 35 I would be swamped and it would totally get against the lifestyle I wanted!
Now of course I could hire people and scale upward as I go only I'm not really interested in managing dozens of employees as that as well goes against my ideal lifestyle.
This chat is when I first realized you really need to get detailed and specific to the type of lifestyle you lot want and then that you lot can be in total alignment with it in your work and goals.
I have since had this conversation with many people and have realized I wasn't lonely in my lack of planning in this expanse.
Some people I know are already doing actually well financially only they actually don't know what their destination is. In other words they brand more than money just for the sake of making more money.
When they make more than money they spend more than money.
In that location really is no end to it.
On the other hand I've also talked to people who like me are exploring this Internet Lifestyle just they are not detailed on what they want and how much they need to make to become them there.
So what most you lot? Have y'all figured out your exact platonic lifestyle and what it is going to cost y'all to become there?
I promise you that once you know exactly what you want it will be easier to achieve it considering all of your energy and goals can now be in alignment towards it.
Since being woken upwards on this Ive washed a LOT of thinking about it.
Below are some techniques and exercises that I take used to give me more clarity on this.
I hope y'all tin use some of these techniques in your own life. Id recommend information technology be something y'all practice sooner rather than later or you may end up working really hard for years to go somewhere you didn't want to stop up being in the first place.
Imagine Your Ideal Day
And I don't hateful a day when your on vacation in Hawaii.
I hateful what is your average twenty-four hour period similar? A typical Monday/Tuesday work day. Why non strive to make your typical, average mean solar day amazing?
And so Im going to go a little new age with you but calm downwards this is totally worth it.
Close your eyes and imagine yourself waking up to your platonic reality.
What kind of bed are y'all in?
What does your bedroom look like?
What neighborhood practise you live in?
Do you have a view from your business firm?
Who are yous waking up adjacent to?
Now think virtually the clothes you are picking out. What do they await like?
Now y'all are out in your garage. What kind of machine is there?
Are you commuting to your office?
What type of office do y'all own? Or maybe you work from habitation?
How many hours practise you work and what are you doing?
Practise you work solo or accept employees?
Now work is over and you are heading dwelling house for dinner. Imagine your perfect evening from dinner to bed time and everything in betwixt.
And then that practise was the typical work mean solar day. Do the same thing for your perfect weekend.
My Ideal Day Example
Here is my perfect work twenty-four hour period.
I wake upwards effectually 7AM and wash my face and brush my teeth. That is followed by 5-10 minutes of mindful thought and positive affirmations of how I want my twenty-four hour period to get.
I then do thirty minutes of my daily P90X or some other similar exercise.
Side by side I shower and get dressed in my extremely overnice outfit that I laid out the night before. I leave to my lawn in the Burbank Hills that has an amazing view of the city.
I relax on a chair and do a few minutes of reading or play with my son earlier he goes to school.
Now its time to go to work. I actually dont like working from home and so I exit to my garage and climb into my BMW. Its a BMW X3. I know not the flashiest auto in the world but I take a kid and wife so need to have some practicality with what I drive.
I take the short commute into Los Angeles and go to one of my favorite trendy coffee shops. After a few hours there I head up to the Penthouse of the role I share with my brother (luckily this penthouse role office already exists.)
Information technology has a rooftop view of Los Angeles. I work from 9AM-12PM and and then its time for lunch. I either go with people from the office out or eat the healthy dejeuner I brought from domicile.
I get back to work from 1:00PM to virtually 3:00PM. I then get out and hit a new, different spot in LA. One of my hobbies is to explore new places in the urban center and then Im always looking for more fourth dimension for this hobby.
Around 5PM I head home. After decompressing, I hang out with my son and wife and see how their days went.
After a clean, healthy dinner I spend an hour watching Television set or doing some other activeness with my wife and son. They go to bed virtually 8:thirty and I bound dorsum online and stop anything I missed during the day or program out my one about important work task for the next day.
From 9:30 PM to 10:00 PM I read in my room or office. I then lay out my outfit for the next mean solar day and go ready for bed and off to sleep by x:30 PM.
That to me is a perfect workday schedule and much different to what I take at present.
Now I am forced to become up earlier than I desire, rushed through the morning to die slowly in 45 minutes of LA traffic and sit at a desk for the next 9 hours.
Merely to exist followed past an over an 60 minutes commute in miserable LA traffic back to my house.
Exercise The Math On Your Ideal Lifestyle
If there is a neighborhood yous desire to live in become online and expect at houses that but sold recently. Selection out the accented best house for yous. How much did it sell for?
Now you know what you need to earn to accomplish this major piece of your perfect twenty-four hour period.
Do some inquiry online for the cost of that car you lot pictured yourself driving? How much to buy it in cash?
What about your family vacations? Will you exist taking ane-2, or possibly 3 a twelvemonth? Gauge all that cost.
Now you figure out how many clients you lot need to pay for this lifestyle.
You volition be able to accomplish these things if you know what y'all want and how much it costs. Considering one time y'all know those two things you volition know exactly what it takes to achieve information technology.
Just dont stop getting clients/selling products etc until y'all take that magic number y'all need to pay for your lifestyle.
My Lifestyle Math
So with a little bit of work and idea I already roughly know the cost of almost of my platonic lifestyle. This is very important!
If you want to ain a luxury car or a nice house dont just retrieve to yourself "maybe someday". Practice some inquiry, put pen to paper and figure out the cost of this life so you lot know exactly what you lot need to practise to achieve that 'someday'.
The neighborhood I desire to live in is called 'The Burbank Hills'. I already live in Burbank so I know this is an expensive expanse.
So what you lot want to do is discover a house you want to live in that'southward for auction in the neighborhood y'all want to be.
Here is my example in Burbank
http://www.zillow.com/homes/for_sale/Burbank-CA/pmf,pf_pt/20060581_zpid/396054_rid/34.260337,-118.157788,34.103845,-118.492871_rect/11_zm/
Now my actual dream habitation would probably be with an Ocean view but I desire to be realistic.
When I say realistic I dont mean what Im capable of affording I mean this isn't just a fantasy for myself but a place I could realistically live with my family as well.
We already know we love Burbank, CA as a place to heighten my kid so I wouldn't force them to move to the Beach but because that is what I desire (and could at present afford)
So it looks similar the kind of business firm I desire in the neighborhood I desire to live in is between 1.ii and 1.7 1000000. So lets call it 1.v million. That is about 3xs the cost of my current identify. My mortgage is roughly $3 thousand a month and so that x's 3 = $ix,000 a calendar month!
Now of class Ill exist paying a crap load of taxes with this being California and other costs so lets get upwardly to $x,000 grand a month.
Non going to lie this sounds mind blowing to me to pay that much money every calendar month. BUT my average client is $2,500 a month. And so that means I only demand 4 clients to pay for my dream firm.
What if I wanted to buy the firm outright? Id hate to be stuck with monthly payments that big.
Well at $2,500 a month and $30,000 a twelvemonth per client that would be a whopping 50 clients I would need to pay it off in 1 year.
I already know that is more clients than I want so I would probable save for a yr and put a huge down payment downwards first lowering the monthly payment.
(note: I believe in non overpaying for things even if you have the money so I might consider renting this place and investing the money instead just for the purpose of this do nosotros volition say I'm buying information technology)
Now with my motorcar I already have a BMW X-1 so I'm familiar with this cost. A BMW X3 is only one model above what I drive at present (again not a big car guy) and is roughly $40 chiliad.
So 5,000 x viii= $40,000 which means I could buy the car with 8 months of payment from two clients.
Or to purchase information technology outright in 2 months I could do (8 clients x $2,500 for two months = $40,000.)
I would do this for everything in my ideal lifestyle.
For case my platonic lifestyle on vacations is 4 a yr.
iii locally and 1 international.
The same process of breaking down roughly how much that costs for a 4 a twelvemonth. Figuring out how many clients/products are needed to pay for it and work towards that.
RECAP
Tin you meet the ability in this method? Almost people just stagnate one time they hitting a certain level in their business.
Others do the opposite and keep working difficult to grow and make more and more and more than without ever thinking about what all the money should be going to!
Information technology should be going to the ideal lifestyle you lot want. And I assume that includes lots of costless time.
So if you do the math on your ideal lifestyle and it includes too much time investment in work you may need to re calibrate.
Either lower the expense of your life or observe a way to aggrandize your business and make more money without devoting all your gratuitous time to it.
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Source: https://www.cerebropower.com/define-your-ideal-lifestyle/
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