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

Mentioned in this episode: 

Dr. Ali Abdaal on YouTube: "How I Failed in 2022"

The Old Man & the Three podcast by JJ Redick

The Healthcasters Course

Mentioned in this episode:

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Today's podcast is supported by the American Psychological Association's Psych Careers. If you are a psychology professional looking to advance your career or thinking about a pivot, definitely encourage you to check out Psych Careers, which is the career center from the American Psychological Association Services, Inc. There are over 400 positions available. It's the perfect time to create a free account, upload your resume, and set up job alerts. sellingthecouch.com/APA

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