Tag Archive: business finances

For Entrepreneurs, Nothing Fails Like Excess

yachtWe caught an interesting piece on CBS Sunday Morning a few weeks ago. Not surprisingly, a lot of yacht owners have given up the boat as a result of the Great Recession.

A boat repo man said most of the yachts he recovers are from people “who weren’t as rich as they thought.”

They should have read Tom Stanley’s latest book, Stop Acting Rich … and Start Living Like a Real Millionaire. Like his prior books, he demonstrates that most truly wealthy people don’t live like they’re rich.

BIGG success is life on your own terms. If material possessions are part of your definition, more power to you. However, a lot of people end up much poorer trying to feel richer than they are.

As an entrepreneur, your standard of living can also impact your business. You won’t have as much flexibility if you put an undue burden on your business finances by buying toys you don’t need.

You may miss out on opportunities. It may create unneeded stress. It can even lead to bankruptcy.

There’s nothing inherently wrong with enjoying the “good life.” You should enjoy the “fruits of your labor.”

Just remember that nothing fails like excess.

Image in this post by wilksailor

Does Your Career Affect Your Lifestyle or Vice Versa?

linkedHere’s a story we’ve been told our whole life:

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icon for podpress  Hear George & Mary-Lynn discuss today's topic on The Bigg Success Show! Click the player to listen while you read [3:47m]: Play Now | Play in Popup | Download

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You choose a career.
You get a job.
It pays the bills.
Life is good.
You live happily ever after.
If you’re lucky. Because …

If you’re lucky, you love your job.
If you’re lucky, your work is stimulating.
If you’re lucky, there is room for growth in your chosen career. 
If you’re lucky, you earn enough from your job to support your desired lifestyle.
If you’re lucky, your job also affords you time to enjoy the fruits of your labor.
If you’re lucky, you realize that luck is only a small part of all of these things.

As the old saying goes, “It’s better to be lucky than smart.”

Lifestyle costs affect career decisions
However, smart decisions often increase your chances of getting lucky. And who doesn’t like to get lucky?

You get a job to support your lifestyle. But how does your lifestyle affect your career?

  • If the costs of your lifestyle put too much of a demand on how much you have to make, you may have to take a job that you don’t love just to pay for your lifestyle.
  • If your lifestyle consumes every penny you make, you may have to jump at the first offer that comes along instead of being able to select the job that fits you best.
  • You may have to take a job that takes up all of your time. You have no time to do anything else including things you love to do or spending time with people you love.

Find harmony between the two
The two are completely interdependent. Your career choices affect your lifestyle. That’s certainly true. But the piece that’s missing is that your lifestyle also affects your career decisions.

In other words, how you spend your money may determine how you earn money.

Bigg success is life on your own terms. The five elements of bigg success are money, time, growth, work and play. The bigg idea behind bigg success is that there is synergy between these five elements.

You are the entrepreneur of your life. It’s implicit in our definition of bigg success. You and you alone are in charge. Successful entrepreneurs understand that their business finances and their personal finances are linked.

Their business has to make enough money support them. But that’s only half the story. They also have to be careful that they don’t put too much of a burden on the business with their personal financial decisions.

Even if you aren’t an entrepreneur in the traditional sense, it’s helpful if you see yourself in business for yourself. You may have just one customer – your employer. Your lifestyle affects your career and your career affects your lifestyle. Find the harmony between them and you’ll find bigg success!

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Would you like more tips and tools to live your life on your own terms?
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Thanks for reading our post today. Please join us next time when we discuss the one thing you need to face challenges with confidence. Until then, here’s to your bigg success!

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Direct link to The Bigg Success Show audio file:
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