333: Why I’m Done Building a $1 Million/Year Business
Is your goal to build a business that brings in $1 million each year? I used to be that entrepreneur, too, but something’s changed. Even though I always feel some vulnerability in sharing the ups and downs of entrepreneurship, I find joy and feel a sense of responsibility in being honest about my journey in building STC with the simple hope to inspire others. I’m sharing five realizations about why I don’t have that same goal anymore. Join me for this solo session!
You’ll Learn:
- Five realizations that came to me about striving to build a $1 million/year business:
- I can’t build a lifestyle business and a high-revenue one. It is OK to choose to optimize lifestyle over revenue.
- I don’t actually need that much money. Living a life congruent with my values is more important to me.
- More growth equals more complexity. Entrepreneurial growth brings me more stress and anxiety, and it is OK to want simplicity.
- My self-worth is not tied to a number, even though excellence has always been my calling card. Being excellent all the time is exhausting.
- I had to redefine what success means to me, and it is no longer purely financial. Winning at what I do is not tied to revenue.
- Practical aspects of my entrepreneurial journey around income, expenses, taxes, charitable giving, and living a healthy and holistic life
- Why each product you launch and market costs energy and effort
- Why it’s important to me to grow less in my business so I have more time to be the husband, father, friend, and person I want to be in the world
- How capping business growth causes the pressure needed to optimize and accomplish new goals in the future
Dr. Ali Abdaal on YouTube: "How I Failed in 2022"
The Old Man & the Three podcast by JJ Redick
Mentioned in this episode:
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It's at this point now trusted by over 2700 clinicians. And each week we share the latest podcast episode some of the writing that I'm doing on LinkedIn, with regard to my journey as a course creator and making this transition from psychologist and clinical practice to all mine creator and owner of an online business. And we also included a brand new section called on Mel's Mind where I break down a blog post or a video or something that's inspiring me to become a better person and a better business owner. If any of that sounds interesting and would love to have you sign up, you can sign up over at https://sellingthecouch.com/newsletter. Get the FREE A to Z Online Course Guide just for signing up today!
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