Who Wants to Be a Millionaire?

I saw that today is National Be a Millionaire Day, and whilst it’s nice to wonder what it would be like to be a millionaire, it’s our experience that the richest currency is time.

Yes, the business owners we work with want financial security, but the thing most precious to them is time. It’s also the thing that is most scarce for them.

It’s why we NEVER focus on those promises the “guru’s” out there claim: we’ll make you a million pounds over night – more ads - more lead magnets - more more more – the only thing that are at the end of leads are dogs!   

One thing we CANNOT buy is time ....

And very few of us pause to think about how we spend what time we have (and how we’d ideally want to spend that time).

This is why everything we do for our clients (and ourselves), regardless of what stage their business is at, starts with understanding what they want, and what they’re prepared to do, to get it.

And this starts with defining your T.E.R.M.S:

T – Time

How much time are you going to invest in running your business?

E – Enjoyment

Business is tough enough, and there’ll always be elements we prefer doing over others, but if you’re no longer enjoying the journey, then you need to look at why this is.

R – Resources

What personal and business resource (outside of Money) are you prepared to commit to running your business?

M – Money 

Do you really know how much you need to survive? To break-even? To reach your personal goals?

S – Sanity 

What are you prepared to do to make it work? How much fight do you have in the game?

Once you have this, you can then create your Life Plan and then Manage your Time to achieve this.

Your Life Plan isn’t a just a bucket list of holiday destinations – it’s all about what YOU want to Be, Have, and Do.  It can be anything from pursuing your hobbies, family time, a new pet, a legacy, through to a dream car, travelling the world, investing your time in you, or exiting your time to pursue X, Y, Z... So, think about them as goals or milestones.

The sooner you start this; the sooner you’ll have a business on your T.E.R.M.S and one that runs whether you turn up or not.

How would that feel?

Martin Norbury

Investor | Business Mentor at Advocate | Author of I don’t work Fridays