Alot of people have goals, both financially, and as regards their online business. I assume you are one of them.
Maybe you want to make an extra $1000 a week to help pay the bills. Maybe you want to build your business to $10k a month to replace your work income and quit your job. Maybe you want that mansion and Ferrari that you see in those “how to get rich” advertisements.
Knowing WHAT you want is important. But knowing WHY you want it, is VITAL.
Because money – including that which you hope to make online – is always a means, never an end. It’s only ever a vehicle by which you can obtain something else.
Maybe that something else is security – the feeling of greater comfort and less stress related to your finances.
Maybe that something else is freedom – a greater level of choice over how you spend your time.
Maybe that something else is respect – a way to gain greater admiration from those around you. (the “something else” isn’t always a positive thing).
For me it’s freedom.
I just got back from a little jaunt snowboarding in New Zealand with a group of old friends. The past month I’ve been back at home in Australia visiting family but for the rest of the year I’ve been living in Puerto Vallarta, Mexico. The ability to live and work anywhere, choose my own work hours and freely decide exactly how I spend my time every day is the peak for me. That’s what life’s about for me right now and that’s the WHY that my financial goals move me toward.
There are 2 reasons that knowing what that something else is for you, is important.
1. For your own motivation
Because “what’s” aren’t inspiring. $10 000 a month as a physical object is nothing. It’s just paper. But the changes that would make to your life are inspiring. What you would DO with that income is inspiring? What WOULD you do with the level of income you desire? Do you even know? Alot of people don’t.
Moving toward “Freeing myself from my day job to spend more time traveling with my family” is a lot easier than moving toward “10 000 a month in income”.
2. To make sure your goal is really going to bring you the “something else” that you want…
There’s a good example of this idea in the movie Wall Street. The guy is a big financial trader, hoping to do these massive deals and become a multi-millionaire. When asked what he will do after that, he says something like “Just retire, buy a motorbike and ride across China”… ie, something you could do for probably $5000 if you really wanted!
So many people say for example “I want to take my business to 7 figures a year” – and I often think: “What for?”
What will you do with 7 figures a year? Do you even know? What is it that you REALLY want?
I don’t say so to blow my own horn, but my girlfriend and I have this year lived a life that it seems alot of people dream of. Classified “retired” by our level of work in most people’s standards, living in a beachfront, oceanview apartment in the basically year round sunshine of west coast Mexico. We have a lady to do our washing, clean our place if we want, we eat out probably 4-5 times a week…
Want to know the big secret?
Our rent is $695 a month! I pay $1.50 for beers – $20 for a high end meal.
I always said I wanted to be a millionaire. But the longer I live, I only grow more convinced that you don’t really need to be!
The point is that if you know what you REALLY want (that something else), underneath the monetary goals, you might realize that you don’t actually need anywhere near as much money to achieve it… you might even see that no level of money is going to get you to that thing you really want. Maybe it’s time that you really need… maybe it’s love? It’s always something.
So what is that WHY for you? What is your “something else”. I’d love to hear from you!
Or if you don’t want to post, give it some thought in your life this week. What is it you really want, and are you really moving toward it…
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Andrew
Your post has come at a time when although I have the reasons (age 57 with no pension fund due to a heart attack and losing a traditional business) the ability and the knowledge to build a massive income on line, I still procratinate!
Don’t get me wrong I earn a nice income off the internet, but with a little bit more effort, I would be secure for the reast of my life.
By a strange coincidence your post is the 3rd instance in the last week where I have been challenged to take more action, so I guess somebody or soemthing is trying to tell me sometheing!!!!!
One way to drive myself is to make a commitment to others. So I am taking this opportunity to commit to you and to everyone who reads this post that my work ethic has increased from today!
To answer your original question – I want to enjoy every moment of the rest of my life without having any financial concerns for the future.
Thanks Andrew for the kick up the ….
Paul
excellent post Andrew! sounds like you’ve been reading ‘the 4 hour work week’.. it’s surprising that what we want doesn’t actually cost as much as we think most of the time. I’m with you on the freedom part dude. money is no good if you can’t enjoy it!
Stu Sensei
Nice article, Andrew. It’s nice to hear you’re able to live on a budget, but economics of living standards just differ from countries to countries, like paying 3 times that rent to live in a decent apartment in highly populated Singapore and still have to put up with urban noise.
I suppose you are now based in Toronto. When I was a student I had a drive along Great Ocean Road (Victoria State) and seen some houses built into the face of cliffs and facing the ocean. Thanks for the memories.
Personally for me, I am working towards getting more freedom. Freedom to spend time with my child & family, freedom to choose my hours of work, freedom to go places without looking at my budget, freedom to not work for anyone else etc.
Ooops I have used the word freedom too much! This post should help us visualize what we really want. For me it’s being able to do things in life on my own terms.
Great post Andrew.
My wife is a financial professional and watches every dime. My goal is to have the passive income that will help her relax more. Then the only concern is where to re-invest money and not “oh no, our son’s next college tuition bill is coming up”.
Plain and simple freedom.
Freedom from the painstaking day to day repertoire of doing what I’m told by a boss.
I agree that money is just a means to another end. I think my true goal is
simply the freedom to live where I want and do the things that interest me.
I would also do whatever I could to help family members, and then local
charities, moving outward in a circle of positive influence.
I think many lottery winners go broke in a few years because that was their
mindset to begin with. Like you suggested, it is wiser to live below your
means. There a many things in life that feed the soul, but don’t have to cost
much. More STUFF can just mean more shackles to pull you down. Wealth
is good, but the mindset in using it is more important.
I pass by a neighbors house, and their garage is literally full of junk, halfway
to the ceiling, and that was still after a dumpster full of more junk was hauled
away. It may be nice to have a big house, but if most of it is full of junk that will
never be used, it becomes an expensive storage facility, and someone with a
small apartment might be living a better life. I guess those things are simply
a reflection of what is going on inside of people.
I have my own share of trials and purging to go through and I am sure that I
am no where near what I should be, but I press on.
I want to make as much money as I possibly can, and I want to send almost all of it to people who need it to survive, ie. the starving, malnourished, diseased etc.
I just keep back the small amount I need for basic cheap food, shelter, and other bare necessities.
I want to make money online just to prove to myself that it’s POSSIBLE, and it’s not reserved only for certain people.
I do believe however, that making money online is not for everybody but knowing it is possible for people like me, is crucial.
I on my way to making a substantial amount of income online but the level is not yet convincing, so I’ll keep at it until I’ll pull this off.
And you have inspired me. In fact, my first big commission was from promoting your NEG – Niche Empire Generator.
I appreciate you!
You know what Andrew, you allready live like a millionaire, while I know other people who really have a lot of cash, but can’t afford to live that lifestyle, because their business owns them.
It’s not about the money, but about the freedom and some very rich people are not free at all.
Andrew, like you and Azghar, I also want the freedom that an internet business gives me.
The gratification of building a successful business from scratch is also a special feeling. It took me a while to even tell anyone what I was doing, but now I can’t stop talking about it.
Freedom is what I am searching for — the freedom to NEVER have to deal with the Corporate world again, ever — to have enough put back for retirement — to be able to help others out when needed — to slow down and enjoy what I have. For me being rich is not important, I don’t think I’d change much about my lifestyle, but doing what I enjoy is important. Did I mention never dealing with Corporate politics again?
Hi Andrew,
This post hit right on me, I mean, it really hit me on bulls eyes, especially when you talk about – “What is it that you REALLY want?”
I’ve been asking myself what I really want in 3, 5, 10 years time, but did not quite answer to what I REALLY want. After reading that, I started to think the inner side of me underneath the monetary goals.
Now, I’m clear of my WHY and it really started to open up inside me. Yes, is not the monetary goals (though is important) but more important is something that we work to achieve on and to enjoy it when we reach it.
Thanks Andrew.
Best Regards
Jeff
This post was timed perfectly with a lot of the questions I’ve been asking myself recently. My income has been so low for years now, I keep thinking “if I could just make a little more and pay off my debts, I’d be free”. But what comes after that freedom? What do I do with myself?
I’ve found two core values becoming the principles in my life: building relationships and helping those less fortunate then myself. Life is worth so much less unless you have loved ones to share it with, and I long to travel to see old friends and being able to have the option to “treat” them on vacations as well. I also have a strong heart for missions, and not only do I want to advance their cause, I hope to one day be able to pay for the medical care I need to bring myself to a level of health where I can preform those missions myself.
Andrew:
Great post. I think that too many people get caught up in wanting to make that six or seven figure income. I am not saying that it is not okay to make that kind of money but I agree that there are some things in life that are much more important.
Yes, I want to be financially free but that has a different meaning to me versus someone else. I would be happy to just replace my current income and have more time to spend with my family. If I end up making six figures then so be it, I would be able to save or invest more money and not necessarily spend more money.
- Rick
That’s exactly it Rick – There’s nothing wrong with wanting to make 6,7,8 figures… if you have a good reason to do so. It’s just that you might not necessarily need to.
My goal is to make money online, but not just to make money for the sake of having a lot of money. Its what you can do with money that interests me. We want to be able to replace my husband’s income so we can move to another city, without him having to find another job, as he is at an age where finding employment is not easy. Also he has some health issues that restrict his job choices.
Great Message Andrew- Its all about freedom for me as well, thats why I am putting outsourcing processes (full time guys in the Phillipines)
Freedom really, is getting up in the morning, chooseing what you want to do for the day. I have most of that now, the financial rewards will follow.
I didnt have the cash to propel my business, so i asked the question: “what do I need to reach my Goals?
Answer:
1. A business model that works
2. Cash to implement it
I went and found both!
Adsense and a business partner!
Paul
Hi Andrew
After reading all the posts above mine, I agree with all of them. Paul says he is 57 and might be able to retire and live on what he earns from the Internet. I am 66 and am still not able to do that so I still have to run my CPA business.
Stu says that you have been reading the Four Hour Work Week. I have tried to read that book but, so far, I can’t get past the fact that I think the book is a joke. I need to change my mindset on that.
Once i thought I needed millions of dollars. Now I wonder why I would. My wife and I can live comfortably with a lot less. If I amass millions, who gets it after I quit this mortal coil? My children no doubt. Nothing wrong with that I suppose. Except it might make them think life is all too easy. It shouldn’t be. Should it? Not difficult. Just something that should be worked at a little. Not something handed out on a plate.
I think my “why” is that I need to be involved in what I am doing. Having millions might make me intellectually lazy. And that is the last thing I want to be. I want my life to be full of interest. Full of wonder. Full of never stopping learning. Full of never stopping dreaming of things to do and see.
So I want my Internet business to be a good money earner. Making enough for me to go on vacation if I want. Live in a big house if I want . Drive a new car if I want . Living a life where I get to make the choices.
Cheers
John
Hi Andrew,
Another inspiring post! I have always like to read such posts of yours. Unlike those new products launches, how to make money online again and again. Don’t get me wrong, I am not saying that I don’t like reading them as that is part of knowledge gaining in IM. However, sometimes, we do need to take a break and feed our mind and soul.
As for me, there is no other reason than total freedom. Freedom form the corporate world. Freedom to spend time with my family. Freedom to spend time with myself.
I want to be able to pay my bills and have money left over to do two things:
1. help my son.
2. To help one soldier or more if I can that have received severe life changing burns while fighting in Iraq. I don’t know if I’ll be able to help one or more than one ,but this is something I feel strongly about doing.
Thank you,
Fran.
Noble goals Fran. The feeling of achieving those I’m sure will bring you more fulfillment than any dollar amount.
Andrew
It’s all about achieving a balance in your life, but before you can do that – you have to usually work your butt off to get there!
It’s great to see the end result! I hope we all join you soon!
Salute’ Mate
Right on the mark Andrew, thanks for the post! The MEANING we find and create in life is where the power is at for me. Meaning to me involves a higher purpose for why I do what I do. I would venture to say that the reason why we do what we do everyday is not for the money but the outcome it will empower us with. Things like, greater freedom, increased happiness, more control, great resources and power to serve others easier and more consistently. I have found myself to be far happier helping others get what they want than anything else. Having all the money in the world is nothing to me if I can’t use it to help others experience a greater level of true happiness in this life.
To your success!
I enjoyed your blog. I don’t need to make a fortune. I went bankrupt 8 years ago, and learned that the crisis wasn’t about money, it was about low self-esteem, lousy entitlement, and needing unconditional love. I’ve spent these 8 years fixing that, and in the process my creativity came alive. Now I’m writing film scripts, a novel, a blog, playing piano and singing jazz, and until I earn money from them, I need to sustain myself. $1000 a month would be fabulous. I’ve learned that you can’t put money before fulfillment.
I love that you say you don’t need millions, and I appreciate your honesty. The “making money on the internet industry” is so full of hype with people making wildly exaggerated assertions but really just acting out a con, so it’s refreshing to see an honest man. Thanks!
That is so cool Jennifer – you know EXACTLY what I’m talking about. Good luck on your journey!
All of the goals you and others have mentioned are great – and can be motivating.
But the bottom line for all of us is just plain happiness. We want freedom so that we can be happy. We want security so that we can be happy. We want a comfortable lifestyle so that … well, you get the idea.
There’s a lot of truth to the admonition to just be happy now!
Abraham Lincoln once said, “Most people are about as happy as they make up their minds to be.”
Mind you, a little “extra” cash makes that easier
You have always been an inspiration Andrew and I know that you’re just going to continue on giving tremendous value.
I started playing drums after high school (1996) and ever since that time, I knew that I wanted to play drums for the rest of my life. It’s just the greatest feeling ever and thanks to Internet marketing I now have the chance to actually live it!
Thank you so much for this post and more power to your business!
I see a lot of ‘how to’s’ on the internet, but if you know why, & it’s important enough to you, you will do whatever it takes to find out the how.
You don’t find many posts talking about this in the same breath as IM, so this is really good to see.
I applied to emigrate to NZ a while ago, but as I have no connections, I wasn’t accepted. So now my goal is to build something on line so that I have the flexibility to earn money wherever I am and will go to NZ for 6 months running my business from there.
Some readers here may already know from other comments I have made that I am an American living in the Philippines. I live on a way lot less than 7 figures a year (unless you count in Philippine Pesos), but I live way, way better than many Americans who do make that much.
I even went back to the US near the beginning of this year (I had been away almost 4 years). Truth be told, I couldn’t stand the fear, doubt, worry and in particular, obsession with money … as if money could somehow keep you alive. Almost everyone I met seemed obsessed with money and the worry about making more.
Went back to the Philippines as soon as I could… living on a lot less than many, living batter than all but a few other intelligent folks that have realized that money can not buy happiness, health or most of the other things people chase it for.
And here’s the interesting point .. the less I worry about making money? The more I seem to make. Stop chasing folks, and start living instead.
Very cool post Dave – couldn’t agree more. Where abouts in PI are you?
Hi, Andrew,
you are right about spending some money to support your life and living expenses.
My goal in online marketing is to secure my future retirement. I will not receive even 1 red penny from the Government because I am an immigrant and do not have any pension plan. So, in my case, even buying a bread to the table could become a problem in several years. I do not say about car or apartment.
That’s why the further I will move from the financial disaster, the better I feel myself.
You summed it all up for me in one word Andrew :
Freedom!
The freedom to work when I want and where I want is my driving force.
Thanks for a great article.
Hi Andrew
The idea of freedom seems to appear rather frequently in the many replies your article triggered. The fact of the matter is that we all, already have freedom and we use that freedom when we make our choices.
Having worked for many years in the world of outplacement, helping many, many people re-adjust after redundancy or job loss, almost without exception the most useful exercise I had people complete was an Essential and Desirable list. What outgoings were essential (like mortgage payments) and what were desirable or nice to have. Invariably they found that they actually needed much less money than they had thought which usually brought huge relief followed by increased confidence and motivation.
Once we actually work out how much money we really NEED then we realise that we have – or we CAN have (if we so choose) all the freedom we need.
Then of course, there is another question. What do we do with all this freedom?
Hi Andrew. Nice to see you having so good and relaxing time and I really hope it will never end. I want to make a lot of money because i want to enjoy all the toy’s available in life , to enjoy my life instead of working a dead end job every day and my biggest concern now is to be able to give to my 3 year old daughter the best I can starting from our own house to having the best education.
Hi Andrew,
What a great advert you are for internet marketing! Successful, yet level headed, with a balanced approach to life.
I agree, my ultimate goal in life is true freedom and happiness. Sounds corny, but it’s true. Money, success, property, fame…. they all have their merits of course, but they are only routes to more fundamental human needs, such as love, respect, contentment, freedom, good health…
I honestly don’t see internet marketing as a way of making shed loads of money, but rather, a way to work towards financial security doing something I can enjoy, be my own boss, plan my own time, and be an individual – not a sheep!
Hi Andrew;
Your question is a very good one. I have short term needs and long term´s; you know because last year economic crisis my investment offline didn´t work quite well. I got stressed and lost focus on this internet thing. I was looking to get results fast, to prove myself it´s a good choice, but at the same time tried to do so many things, more blogs, instead of more promotion of one of two, learn another system that claim it was very good etc. etc..
Anyway, I have clear now that for the short term need money for living expenses for two, (in Mexico it is not that much), pay college for my daughter, and build a passive income for coming years.
I will love travel and spend time in another countries, without financial worries and job obligations as soon as possible.
Yes, money isn’t everything but money can allow you to be to have and to do. That is not only my conviction but my believe. I am from poor country and I know the hard side of not having money. Waking up the morning not knowing what and if you will eat during the day. If you eat a good meal every two day you are happy. I have been there and that make me ambitious and willing to have a lot of money for myself and help loved ones and my community. Community of people starving and hoping to get help from me. That is my main reason to be here looking for any means to be a millionaire. Being a millionaire for me is acquiring the opportunity and the capability not only to be what I want to be to have what I chose to have and to finally do what I want to do. Here is my freedom, my happiness to enjoy my life and to fulfill my great desire of helping my community
One word – Choice
The ability to wake up each morning and say, “What do you feel like doing today?” and then go do it…..
The ability to pay for our kids education so that they can get whatever schooling they need/want ……
The ability to get the best medical treatment when you need it…..
The ability to offer your kids every opportunity – music, sports, arts……
The ability to go out for dinner whenever you like – with or without the kids…..
The ability to leave your kids with someone else and bugger off to Santorini or Maui for a week
Ahh, choice – one day…..
For now, the bills are being paid and we are getting time with the kids, so I guess we are content….but one day…..
Hey Andrew,
I used to dream of being a millionaire too, but just to have enough money to be comfortable would be fabulous.
My target is simply $100 a day, that would suit me down to the ground.
I hope you achieve all you desire, wish it cost $1.50 in Scotland UK ha ha.
Sally
Almost none of the IMs have written about this topic. It’s disheartening, to say the least.
After 16 years with a company, leaving with a title of Media & Technical Services Director (working with databases, print, CD products, and web), I was laid off with a load of other people — several vice presidents included. There had been layoffs the year before in another division, so I don’t know why I didn’t see the possibility of it happening to me, but I didn’t. Thus, the first 6 months I wasted – depressed and feeling hopeless. At 64 yrs of age, and with so many others out of work, I did not see how to proceed and was doubtful I could find a position at my age. Then I realized that I had some skills that I could apply on the web. My disclaimer is that I have made nothing in terms of $$$ yet. However, I found something in myself. I started with a free WP blog, just to get into the habit and ability to write on a subject I was passionate about — leadership and management. After a couple of months I took the plunge and found a web hosting service, and then moved my blog to it. I now have 4 or 4 other sites designed to sell products I believe in – mainly for Amazon, with some AdSense thrown in. I have learned a lot, been sidetracked a LOT with info overload, and have had bad tastes left in my mouth by shameless and ruthless marketers. I am in the process of unsubscribing to a bunch of lists and keeping a core group of respected marketers. Along the way, I learned what I DIDN’T want and how I couldn’t behave, and sometimes that is valuable also. But your post made me realize that I need to be very specific about what I DO want. I want my needs taken care of [food, shelter, medical care] and I also want to be able to share some nice extras with my husband – an occasional restaurant meal or show, and the absense of worry where bills are concerned. I want to be able to afford presents to my grandchildren. I want to live with self-respect and concern for others, and to help where I can.
Thanks for this great post.
I have also spent some time thinking along those lines. It’s not necessarily the money that motivates me rather the freedom it will enable me to have.
I plan to relocate to a foreign country and spend my time doing things that interest me. I have worked two jobs for so many years of my life that the freedom is what I am really seeking.