Hey guys 🙂
Wow. What a week it has been. I will spare you the details because I would end up spending all my time talking about it and personally, I just want to move forward and look for the silver linings. 🙂
The week I have had ties into what I want to touch on today. So I will start with this question –
What if we lived our lives as if we were running a business?
I have pondered this question many times and have even applied this concept to my own life and I have to say, it’s rather effective.
If you were to start a “life ledger” what would it look like? Is the business that is you generating a surplus or are you finding yourself in the red more than you’d care to be?
In my mind, a life ledger would be quite basic and look something like this:
- Assets – What do you and the people around you, bring into your life that is positive? Are there enough assets to cover the liabilities in your life?
- Liabilities – We all have responsibilities in life. That will never change but I imagine there are many of you who, if you looked at your life ledger right now would see you take on more liabilities than is necessary. This can make or break the business that is you.
Starting today, it’s time to balance the books. For the sake of the business, we need to start letting go of some of the liabilities we have taken on .
The numbers don’t lie.
If your life is currently in the red, look at your ledger. Perhaps you will start to see some patterns.
I certainly have past liabilities that needed to go as it almost put me out of business more than once.
A good source of our life income comes from the connections we make with other people. Anyone who runs a literal business will tell you that connections count and keep a business afloat.
No clients, no business.
However, some clients can in fact hurt your business. You spend all your time and energy on this particular client yet the return on that investment turns out to be a waste of time.
This client keeps the purse strings tight and are high maintenance. Their loyalty to your business only benefits them, not you.
This is hands down a liability and whether you believe it or not, this is one liability you can scratch off your books ASAP.
They are not helping your business, they are sucking you dry and that time and energy could be better spent making room for a new client who is willing to work with you and for you.
This kind of client truly appreciates your service and you appreciate their business.
Do you see how this concept can easily be applied to our lives? Do you have that long time friend, significant other or even family member that you’ve hung on to simply because they have been part of the furniture for so long?
Ask yourself. How is this person an asset to my life? Why am I going into debt over this person? In some cases that question can be asked quite literally.
If you find yourself pausing to answer that question, then I challenge you to dust off your life ledger and look for the patterns.
For example, if this person was on your bank statement, chances are they would show up as multiple, micro transactions.
These micro transactions add up and if we’re not paying attention to them we can lose out big time and not even know why…until we look honestly at the numbers.
This can also apply to your current job. In this case we’re talking real numbers but it all ties into the business that is you.
Are you unhappy with your job? Is showing up to work everyday with dread worth the paycheck?
Is the time you invest into your job paying off for you or for everyone else?
Let’s say you work 8 hours a day for a modest pay. That modest pay in most cases is going to everyone but you. The time you invest into your job is many times an expense on your life ledger.
You get paid and pay the bills and if you are not happy with your job on top of that, what is left for you exactly?
Many of us fall into the trap of believing that if we can just get our finances in order everything else will fall into place but honestly, how often does that truly work out?
The truth is, we need to get our life in order. Have you ever thought that perhaps if you did that first your financial struggles would in fact resolve themselves or at the very least, improve?
Some of you may think I’m a bit bonkers to suggest you stop looking at your bank account and look to your life ledger first but the way I see it, perhaps you struggle financially because you haven’t balanced your life ledger.
Therefore, you may be making poor decisions (financial included) due to a lack of life assets.
If we reverse that, you may see that by taking care of you first, you are in a better position mentally and emotionally for making better overall decisions, have the confidence to take on a better job opportunity for example instead of convincing yourself that leaving your steady, yet totally depressing job is the only way.
Make yourself an asset! We are our own worst enemy sometimes. Don’t be your own liability on top of the ones you already juggle.
Now for those of you protesting that the bills need to get paid and you have children to support, I get you. I am not saying to go into work tomorrow and just go down in a ball of flames, yelling something about your life ledger to your boss…lol please don’t do that.
What I am saying, is that it is not too late to come up with a life plan and in this case, a financial plan that will truly be to the benefit of your business.
It’s a cliche job interview question but where do you see yourself in 5 years? If you can’t answer that question, what has prevented you from setting goals which will benefit your future?
Setting goals that benefit you both personally and financially, will ultimately benefit the ones you care about most and in return, the ones you care about are better able to support you and help to keep your life business grow and stay strong.
It’s never too late to balance the book of life but in order to do that, we need to read the numbers and accept them for what they are. No more grey areas. No more fudging the numbers to make them balance. Accept the entry errors as errors and correct them. Question the imbalances instead of simply writing them off.
Sometimes, this will involve making tough decisions but if you were running a real business and the decision was the difference between staying in business or not…the decision wouldn’t be all that hard. What business wants to shut down?
So apply that concept to yourself. You will find that by taking this approach, the liabilities that are risking your life business will stick out like a sore thumb. It will be obvious what cuts need to be made and it is my hope that if this post speaks to you, you will open up that life ledger and get down to business! ❤
Take Care & God Bless ❤