5 Powerful Life Lessons After 1 Year in Business
It’s officially been 1 year since I started my financial planning practice, Wonder Wealth LLC!
I share now 5 powerful life lessons I’ve learned in the past year that have led to a happier, more confident, fulfilled, and charismatic version of myself. They bring greater emotional stability & healthier expectations for yourself & your life.
Take these lessons and apply them in your own life. ENJOY!
Starting a Business is HARD: Perseverance (EQ) > Raw Intelligence (IQ)
Your insecurities, fears, limiting beliefs, doubts, ego, they’re all put under a spotlight when you start a business (a romantic relationship is similar in ways). It forces you to confront your character flaws and poor behavior patterns. This can really suck because it challenges the romanticized identity most of us choose to believe about ourselves. It humbles you to your core. However, it’s through confronting this discomfort that you learn about yourself, grow, and level up as a human being. Fortunately, the hardest things in life are usually the most worthwhile. Having a high IQ is great, but it doesn’t prepare you for the emotional roller coaster that comes with starting a business (this is where a high EQ (emotional intelligence) plays such a huge role.
Inspired by 1 year of getting my ass kicked in life, love, and business.
2. Success Takes Time
As an impatient type A “results oriented” person living in an immediate gratification world, this lesson was so tough to fully accept. Success doesn’t happen on our timelines. I’ve learned to focus on the process, not the results. If your process is solid, all you need is consistent action, time, and patience. Focus on what you can control and forget the rest. I remind my clients and myself of this all the time! Learn to measure success by making sure you’re getting into the gym 3x/week (the process), not if you’ve lost 10 pounds yet (the result). Results in major areas of our lives rarely happen as fast as we’d like and you set yourself up for multiple micro “self beat ups” every time you think about your desired result only to realize it hasn’t come yet.
Inspired by “Atomic Habits”, an excellent book on this topic.
3. Be a “Go Giver”, not just a “Go Getter”
Focus not on profits, but on giving as much value as you can to as many people as you can, and success will naturally find its way to you. Focus on impact, not profits. Don’t work for free per se or ignore your needs, but “focus out” on helping others with the greatest impact. Being a giver will leave you more successful, more influential, and more fulfilled. This book has taken my business and my life to the next level. This paragraph may be the shortest but it’s arguably the life lesson that’s had the biggest impact on me not just growing my business but loving the ride along the way!
Inspired by the book “The Go Giver”.
4. Focus on What’s Going Right
As humans, our minds produce up to 50,000 thoughts per day and 70% - 80% of those are negative. What gives?!! Start a business and you’ll likely see an uptick in that percentage. I found myself waking up before my alarm clock each morning because my mind was racing about this decision, that task I need to do, or my steadily depleting bank account balance while I build the business. That terrible morning headspace was a pattern that was not serving me, so I changed it. Now, during every morning shower, I take 1 minute to count 3 things that went right yesterday and 3 things I’m looking forward to today. “Thoughts become things”… if you obsess over what’s lacking, you’ll always feel a lack of. If you think about all the things going right, you’ll feel more confident, encouraged, bolder, happier, and take more risks which will lead to a more successful life and career.
Inspired by several anxiety ridden mornings spent dwelling on how to reach step 10 instead of step 2. One foot in front of the other.
5. Life is a Journey, Not a Destination
To my fellow Millennials, I specialize in working with our generation (20’s, 30’s, and 40’s). We are the “have your cake and eat it too” generation. We are idealistic, carry high expectations, and feel we can “have it all” right when we want it. These high expectations are challenged when your friend buys a house and all you see is the credit card debt you owe. Lift your head up, we’re each on our own unique path. Status symbols do not always equate to well being. Focus on what you can control, persistence is what will lead you to your dreams, not comparing apples to oranges. FOMO and social media comparison is the thief of joy. Focus on your journey, be less impressed (at others) and more involved (in your own path). Be inspired by others successes, not envious. I’ve worked on financial plans for C suite executives who are multi millionaires yet struggle to find balance and joy in their life. I’ve met extremely poor but fulfilled people living in the slums of Manila, Philippines. They were deeply entrenched in a tight knit community which helped them cope with the reality they lived in houses made of garbage on a river of sewage in the city dump. Point being, what you see on the surface of someone’s life often doesn’t match how that person is experiencing their life. So again, don’t compare apples to oranges, focus on your journey and be inspired by others, not envious. Life is a long road, consistent action toward your goals is all you can control. Enjoy the ride and stop obsessively asking yourself “am I there yet?”.
Inspired by conversations with my financial planning clients and my own world travels.
In Summary
These life lessons don’t just relate to starting a business, but to anything meaningful you wish to accomplish in life. After all, the most challenging things in life are often the most meaningful. Heed these lessons and you’ll find yourself feeling more balanced, more fulfilled, more optimistic, and the results will start to organically stem from a healthier mindset. Build a higher EQ (emotional intelligence) to become more resilient, it will take you farther than smarts alone ever will. If you were the kid with mediocre grades in high school, don’t let that define you and keep you from pursuing something great. Focus on the process, not the result, if you master the process, the results are inevitable.
If you wish to build a healthier mindset around business, life, and money,
schedule a free 30 minute call with me here. I help young families and professionals better understand how to grow their wealth and spend it with intention.
San Diego Financial Advisor | Fee-only Fiduciary
Disclosure:
None of the information provided is intended as investment, tax, accounting, mental health, or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement, of any company, security, fund, or other securities or non-securities offering. The information should not be relied upon for purposes of transacting securities or other investments. Your use of the information is at your sole risk. The content is provided ‘as is’ and without warranties, either expressed or implied. Wonder Wealth LLC does not promise or guarantee any income or particular result from your use of the information contained herein.