This post is for entrepreneurs, business people and online sellers. I’d like to put forward an idea about how we value money. Money is the largest motivator for many people, although many would say happiness is the real motivator but money is the source of that.
I can’t disagree that making or spending money doesn’t give a little buzz or excitement. I’ve just spent $3,700 on a sexy new road bike and I’m very excited to ride my new glistening carbon purchase. However, what I think we often actually crave is a healthy work-life balance. Because we can, as business owners, control our time and income, I think having a healthy work-life balance is what we really want and can also achieve.
Let’s look at two examples of individuals:
Person A:
- Takes home (gross) pay approx: $125k per year
- Works: 65 hours per week
- Commute time: 5 hours per week
Remember:
Working longer days or weekends means you’re more tired and can lack will power. Let’s be honest, when we get back from working at 8.00pm, do we really want to hit the gym or socialise?
Person B:
- Takes home (gross) approx. $85 per year
- Works: 35 hours per week
- Commute time: 2 hours per week
Remember:
With shorter days or days with multiple hour breaks, it’s easier to achieve your goals and spend your time and money on things you enjoy!
New Year resolutions
I think it’s very important to remember what we’re doing it all for! I’m a big advocate for thinking long-term and making work sustainable. I spent plenty of time in that first Person A situation, working sometimes 100h+ a week because it seemed required or because I wanted to push, hustle and grind hard for a period of time.
However, my mental health suffered as a result and my social life and hobbies disappeared from my radar entirely.
My 2016 New Year resolution was to say yes more. It opened a world of opportunity for me, meant I spent more time doing things I love and investing in my career. However, I never cut down on activity, I just filled up my calendar even more.
My 2017 New Year resolution is to say no more. The aim was to preserve my time better and only do the things that really return for me, in a work context at least. This change means that I’m probably taking home financially less than my potential.
However, I get to spend my money and time in a more productive and pleasant way. I’ve hired a Spanish tutor, gone full vegan and (thanks to my new bike) reignited my cycling passion.
Look at the bigger picture
Let’s conclude and bring what this means for YOU.
Here are a few points I’d like to make as I coerce you into my new way of life:
- Look at the bigger picture and bigger plan – what do you really want to achieve and when (I know I’ve 50 years’ minimum left, why rush and ruin my 20’s)
- Don’t give up on the vision – giving yourself more freedom can tempt you to give up working altogether, but revert to point 1 and don’t give up, keep your lifestyle sustainable by keeping the cash flowing
- Before you jump at a new opportunity, check what you have to sacrifice as far as time
- Question if you’re able to cut aspects of your work out. I’d recommend Tim Ferris’s 4-Hour Work Week for an insight into ending your slavery to email and firefighting
Final thoughts
This really doesn’t apply if you’re starting out or running a start-up business. There are definitely some points in a career or business where it’s make or break and you need to put in the work. I’d suggest during that time being aware of the effects of overworking and how it can ultimately impact your happiness.
For you online sellers, here’s a great way to save time and allow you to get closer to the perfect work-life balance.
- RepricerExpress – Automating your Amazon pricing with RepricerExpress’ repricing tool can allow you to make more sales and profit with less time investment. Once you’re set up, you’ll never need to manually reprice again. If you’re interested in winning the Buy Box more often and improving your work-life balance, then check out their FREE 15-day trial. The only question is, what will you spend all that extra time on?!
