January 8, 2022
Money is never enough
When people apply to my private coaching program, the second to last question on the application form is:
“What would you like to achieve from our engagement?”
It’s extremely common for the answers to that question to center on some sort of financial success metric.
- Increase annual revenue from $150k to $300k by the end of the year
- Maintain annual income of $250k but working 20 hours per week instead of 50-60
- To double my coaching investment in the first 90 days
Having specific numbers like these is a great starting point but it masks the deeper reality.
Invariably, there are lots of unspoken - yet non-negotiable - constraints that come along with the financial success metric.
People often lead with the money goals, but in reality it’s almost never the most important thing.
For example, let’s say a React developer came to me and said:
“I want to go from doing $90k per year to $300k.”
And I said:
“No problem! Borrow $100k from somebody and buy a Dickie’s Barbecue Pit You’ll hit $300k in the first year, even with the loan repayment.”
Turns out… it’s not just the money that matters.
In fact, money might not even be in the top three for most people I’ve worked with.
People care a lot about non-monetary things like:
- Maintaining their current identity
- Leveraging their best talents
- Having control over who they work with
- Autonomy over their schedule
- Flexibility to work from anywhere
- Not doing work that they feel is tedious or boring (or unethical)
- And so on…
Here’s the thing…
When you list out your objectives for this year, be sure to include the non-monetary stuff that matters to you.
Once you have that list, ask yourself:
“If I did have all this, how much money would I really have to make to be happy as a clam?”