Think As Inc

IT’S NOT ABOUT MONEY

September 30, 2009 on 8:57 pm | In life coaching | No Comments

Businesses often ask their consultants how to make more money –e.g., grow revenues, develop new products, expand market reach.  A good consultant first asks why:  does the company want to be a certain size, go public, or make itself an acquisition target?  It might seem obvious that a business wants more money, but the actual goal is not about money.

Likewise, individuals desire to make more money.  Does being a member of the six-figure salary club mean a level of achievement for you?  Does a certain level of cash tucked away mean security?  Do you want enough to quit your job because you crave more time off?  Achievement, security, and time off are the real goals then.  It’s not about money.  By focusing on your bottom line in each case, you actually distort your focus.

This doesn’t mean that money does not play a role in achieving achievement, security, or other goals.  However, by focusing exclusively on money, you miss other opportunities to work towards your goal.  Security means having the right insurance, people to support you, and good health.  If you focus on hoarding cash, you may not invest in any of the above.  As you work towards getting your target cash, you leave yourself completely insecure.  If you miscalculate, you may find out you don’t even have the right amount of money. 

Therefore, it’s what you want money to do for you that needs to be your focus.  Then, you can work on getting the money and other means to that end.  What would you do with this money?  Be specific in your goal.  Then double-check:  is the amount of money enough to get that goal?  Do I need to be doing other things than making money?  Minding your bottom line is not just about working for money, but also about ensuring that money works for you.