Never chase the money.
When we chase money, we don’t win.
We end up doing crazy stuff that is outside of our character, our values, or even the visions we have for our business.
We make deals that don’t benefit us.
We take on clients we normally wouldn’t.
In the end, we’re unhappy. So if we get the money but we’re unhappy about it, it was never about the money to begin with.
Case in point: I had a client who set a monthly revenue goal for $24K.
He had a vision for how he was going to reach that amount, but around the mid-month mark, he wasn’t really that close.
He worked another part of his strategy and heading into the final week he was at $17K.
We started talking about ways to bring in that other $7K.
“I’m thinking about liquidating this other product,” he told me.
“Are you liquidating because you need that money this month?” I asked him. “Or are you just trying to reach your goal?”
He was trying to reach the goal. He was chasing the obvious path to money.
“Is that what you really want to do?” I asked.
I knew the answer to this question, too. It was, of course, no.
He wanted to sell that product for what it was actually worth, which would be significantly more money if he sold it to the right buyer.
So we pivoted.
We took the goal off the table and instead made identifying and finding the ideal buyer the priority.
Guess what happened?
He found the right buyers and exceeded his goal, making $25K that month.
By settling his emotions around money, and hitting the pause button before reacting based on those emotions, he found a new way forward that produced the result he ultimately wanted: getting this product into the right hands.
Which, in turn, allowed him to reach the revenue goal. (Notice how this wasn’t the primary goal.)
Never chase the money. You won’t get what you’re looking for.
Here’s the 3-2-1 on not chasing the money.
- When we chase money, we allow it to influence the direction we go or things we do that don’t end up serving us in the end.
- Being calm and grounded and present with ourselves instead of emotionally reactive, allows us to come up with other ideas about how we can attract the money.
- Sometimes money comes to us in less straightforward ways but we have to remain confident in ourselves and what we offer and how much we charge. When we do that we’ll start to see our businesses grow and the money comes.
- Set a monthly revenue goal.
- Project/envision ways to reach that goal that are aligned with your values and not about the money itself.
- What actually needs to be my focus instead of chasing the money?
This money conversation continues on YouTube. Check out Don’t Chase the Money to join the discussion and make sure to subscribe while you’re there.
To your impact and legacy,