How much money do you want to make this year? I work with a lot of serious entrepreneurs. By “serious” I mean devoted, aware, hungry, keen. At conferences and party do’s, I come in to contact with plenty of hobby-preneurs, freshling-preneurs, just-getting-on-the-path-preneurs. I adore them one and I adore them all. But this takes the wind right out of my strategic cheerleader sails: I ask: “So how much money do you want to make this year?”
Reply: “Um…I…well…” Knife in my heart. You’re in business to make money, right? Question 2.5 in The Burning Questions of The Fire Starter Sessions and with my 1:1 clients is this: How much money would you LIKE to be making? As Naomi Dunford put this question to me, “The best way to think about this question is this…we want the number that would make you happy. Aim for that. 1. Goals are to manifesting what a microphone is to Lady Gaga: essential and effectual. This may sound over-simplified, but when you know what you want to make in a year, you can do what it takes to…go make it. 2. 3. 4. 5. 6. 7. What Is your Purpose for Money? Beyond the basics of food, shelter, and health, what do you need money for? Does beauty matter?
Does comfort matter? Does stability have great meaning for you, or the capacity to travel the world? If you say it matters to you, then it matters. And what matters varies wildly from person to person. You are the economist of what matters to you. Luxury might be a necessity for your peace of mind. When you establish your purpose for money, you have a rudder to help guide your purchases, investments, donations, savings—all the things that you do with money.
Tucked into my planner is a tattered and love-worn list titled “My Purpose for Money.” Every single word in my purpose list is intentional and prayer soaked. My Purpose for Money. Do you want to make a million bucks a year? Conscious wealth has greater value. xo. Danielle LaPorte is the author of The Fire Starter Sessions: A Soulful + Practical Guide for Creating Success on Your Own Terms(Random House/Crown). 17 Money Practices That Cost Me a Lot to Learn. 1. The question I get asked the most in terms of monetization and business priorities is about what to focus on first. Here’s the only mantra you need: Get the money in the door. I talk about this in The Fire Starter Sessions and in this Interview with Glen Stansberry at LifeDev.net What can you do in your business to make money RIGHT NOW? Today? This week? And the week after that? 2. 3. 4. It’s good to know where cheap money is so you can focus on the meaningful money (because meaningful money goes farther). 5. 6. 7. 8. 9. 10. 11. 12. 13. 14.
The boys from ReWork (Jason Fried and David Heinemeier Hansson) sum up my sentiments on raising money perfectly. . • You give up control. • “Cashing out” begins to trump building a quality business. • Spending other people’s money is addictive. • It’s usually a bad deal. • Customers move down the totem pole. • Raising money is incredibly distracting. 15. 16. 17. It’s all about relationships. Prosper. xo. Lost Generation.