Build Your Business Based on Lifestyle, not MoneyOct 19, 2023
My motivation for quitting my job and running a successful online course business was not that I hated my job.
The job was fine as far as jobs go - good pay, fun work, good co-workers.
It’s that it didn’t align with my vision of having a level-10 life.
I remember one time a co-worker took 3 weeks off to travel Europe with his wife.
I thought it was crazy. No way I could take off for three weeks - that would be my entire yearly vacation allotment, and I’d let down a lot of my co-workers by being gone that long.
That’s what my internal dialog was telling me anyway.
But the truth was I was envious of him.
And I was jealous of people who didn’t have bosses who could live whatever lifestyle they wanted (assuming enough money was coming in of course).
Today, I want to share WHY and HOW to build your online course business based on your ideal lifestyle rather than simply on how much money you can make.
Start With YOUR Vision
Everyone’s Level-10 life is different.
I once worked with a coaching client already bringing in $250k/mo but wanted more.
Me: “Before I can help you, I want to understand WHY you want to make more money. Sometimes people don’t realize they are making enough to support their vision already.”
Him: “I want a yacht.”
He had his vision. And it required a LOT of money.
Similarly, about a year ago, I had lost sight of my vision and wanted to regroup. I took a deep dive and thought about exactly what kind of life I and my family wanted in 1 year, 3 years, 5 years, etc.
As I mapped it out, it wasn’t far from what we had.
And the big key was that it wouldn’t take nearly as much money as I thought.
I had fallen into the trap of trying to make as much money as possible without figuring out a goal based on my vision.
Everything got simpler after that revelation.
I cut unnecessary expenses, eliminated team members I no longer needed, and cut entire programs I didn’t enjoy because I realized I didn’t need the money.
Work on your vision. Now you have a target.
How to Scale (the money part)
Ok, ok, the money is essential.
I’m just saying don’t fall into the trap of simply trying to make as much as possible - you’ll never be satisfied.
But once you have your vision, you have to have a plan to get there.
Another mistake I see is people jumping straight into creating digital products that align perfectly with their vision.
Meaning their first product is a course with zero interaction. Give me that freedom, baby!
The problem is that it’s hard to sell, especially when starting.
It may seem like the quickest and easiest path to your vision, but most of the time it’s not.
Here’s a better path…
Alex Hormozi’s “Sales to Fulfillment Continuum” sums this up perfectly:
Start more toward the left of the continuum.
When you’re first starting, don’t be afraid of one-on-one coaching.
Then there’s group coaching.
Then there’s courses with lots of support.
There there’s courses with some support.
THEN there’s courses with either little support or the support of someone other than you.
Building a successful online course business isn’t about clocking dollars every second. It’s about crafting a life that echoes your aspirations and dreams. Finding a synergy between freedom, fulfillment, and financial security is a journey.
Remember the envy I felt about my co-worker's 3-week European escapade? The lesson wasn't to earn more for longer vacations. It was about building a life where I don't count the days of escape but rather weave my dreams into my daily reality.
Always keep your vision in the forefront. Financial targets can shift and sway, but a well-defined vision provides the direction. The money is crucial, but it's a means to an end, not the end itself.
The world is rife with stories of the richest people who felt empty. Yet, there are also tales of individuals with modest incomes leading the most enriched lives. Which story would you want to be yours?
Revisit your vision often. Realign, readjust, and most importantly, rejoice in every little success that takes you closer to your level-10 life. Your business, after all, should be the vehicle that drives you towards your dreams, not away from them.
I'm rooting for you.
When you’re ready, there are 2 ways I can help you:
- Genesis Courses. Starting your journey in online course creation? This coaching program is for you. From pinpointing your niche and building an audience to crafting a unique offer and launching your course, consider this your complete business blueprint… from the beginning.
- Next Level Coaching. Already established in the course creation world and earning a minimum of $1,000 monthly? This program offers a clear roadmap to scale your monthly income to 5 or 6 figures. Let's work together to take your business to new heights.