For all the successful entrepreneurs- what is your end goal?

[Shakeandbake]

I know it's a very vague question, but for those that have successfully launched their business and have been able to stabilize growth consistently, what is your end goal after such a big accomplishment?

Do you volunteer, start a new business venture, give back to the community like MJ or TropicalMBA or others? Or do you sit in front of all your money and ask, what do I do now that I've accomplished my life long goal?

Do you have a slight regret in your success, that you have it all now and you can buy all the luxuries in life? No more challenges await you.....what happens?

Discuss

 

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[theag]

[video=youtube;Humfsis-QLI]http://www.youtube.com/watch?v=Humfsis-QLI[/video]

 

[Kak]

Love the video and sigline Theag.

I have thought deeply about this. First thing is first, I have a business that receives 100% of it's revenue in residuals, it however is not currently at an income where I am comfortable stopping. Hopefully that will come soon. I want to be making between 150 and 200k per year before I completely take the hands off the wheel and just ride the residuals.

Then I want to go full force in to things I believe could make a HUGE impact, tens or hundreds of millions, provide tons of value, change the world and leave behind a legacy.

I was recently at a fund raiser to build a Christian school in Burkina Faso. It only costs 250k to build the whole damn thing, I want to be rich enough to write the check in it's entirety and tell them to talk to me next week for another project. I would also love to go and visit the impact of my philanthropy.

I have thought of going in to private equity and VC to help other entrepreneurs reach their dreams, but really the biggest thing I believe I want to do in life is to be a blessing to those who really do need one.

 

[MJ DeMarco]

but for those that have successfully launched their business and have been able to stabilize growth consistently, what is your end goal after such a big accomplishment?

Comfortable freedom and happiness.

Do you volunteer,

For the most part, my time on this forum is not paid.

start a new business venture,

I've got an itch, however, that itch might not be strong enough for a scratch considering I'm perfectly happy where I'm at.

Or do you sit in front of all your money and ask, what do I do now that I've accomplished my life long goal?

I wrote TMF and started a publishing company to make that happen. I plan to write another.

Do you have a slight regret in your success, that you have it all now and you can buy all the luxuries in life?

No regrets -- also, I'm a multi-millionaire, not a billionaire. If I went out and bought all "the luxuries in life" I'd be broke in 3 weeks.

For me, luxury is waking up and doing what I want.
For me, luxury is not having to worry about money; grocery costs, unpaid electric bills, gas prices, etc.
For me, luxury is being sidelined with an injury for 3 weeks and later realizing that despite this, you just had the biggest month of the year, all while laying in bed all jacked up on pain killers.
For me, luxury is having "because I can" at my disposal.

No more challenges await you.....what happens?

Life will always be challenging and those who think it isn't are in for a rude awakening. My personal challenges have not changed over the years -- to continue learning and to apply those learnings in real life.

Life is a playground ... I don't plan on taking my ball and going home.

Hope this explains.

 

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[InLikeFlint]

I haven't launched my business quite yet, but I have this weird goal that every year on Christmas once I am successful, I go around and put an envelope with anonymous money (Perhaps a check if I can find out how to do it, or cash) in mailboxes of people I know who are struggling. It could be relatives, neighbors, friends, or anyone. I think I will make a card to go along with that has a note from me something about enjoying the holiday season and spending the money wisely, and then a quote or two about prospering and something about wealth or knowledge. It's a skeleton of an idea, but I think it would be very cool. 5 different people each year for the rest of my life and pass it down to my kids.

 

[kraze]

I haven't launched my business quite yet, but I have this weird goal that every year on Christmas once I am successful, I go around and put an envelope with anonymous money (Perhaps a check if I can find out how to do it, or cash) in mailboxes of people I know who are struggling. It could be relatives, neighbors, friends, or anyone. I think I will make a card to go along with that has a note from me something about enjoying the holiday season and spending the money wisely, and then a quote or two about prospering and something about wealth or knowledge. It's a skeleton of an idea, but I think it would be very cool. 5 different people each year for the rest of my life and pass it down to my kids.

Fortunately you don't need vast amounts of wealth to do just that...
[video=youtube;aYknt5L6VRI]http://www.youtube.com/watch?v=aYknt5L6VRI[/video]

 

[DeletedUser2]

I sold a biz and took 4 yrs off once. It about bored me to death.

I like the challenge of conquering big hard problems. things that are tough to do. things that others think, Too Hard...
Me, that's where I like to start. I like getting people together to tackle those.

I have set a new goal. 100M in the next ten years. for a foundation. Now I don't have to come up with it. but if i pitch in 20M and get 4 others to pitch in 20M then I can Set up a foundation that would last 100 Years past my death.

I vacillate between being totally lazy, F*cking around, and just being laid back,

and being aggressive, and going out and building something HUGE!

I love being able to do what I like when, But I also like the challenge of interacting with the world, and doing something worthwhile.

I had a huge loss a few years back, $ wise, so I know what its like to have money, and to have to rebuild it.

I think its FUN, when you already know the ending. and how the game is played. takes alot of the fear out. now you just do it faster and funner than before!


Toys? get dirty, get old, get used, get broke, meh, not so much my thing. Experiences are my thing. My driver.

ya thats it. more experiences of doing the impossible. sign me up.


Z

 

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[Kak]

I sold a biz and took 4 yrs off once. I about bored me to death.

I like the challenge of conquering big hard problems. things that are tough to do. things that others think, Too Hard...
Me, that's where I like to start. I like getting people together to tackle those.

I have set a new goal. 100M in the next ten years. for a foundation. Now I don't have to come up with it. but if i pitch in 20M and get 4 others to pitch in 20M then I can Set up a foundation that would last 100 Years past my death.

I vacillate between being totally lazy, F*cking around, and just being laid back,

and being aggressive, and going out and building something HUGE!

I love being able to do what I like when, But I also like the challenge of interacting with he world, and doing something worthwhile.

I had a huge loss a few years back, $ wise, so I know what its like to have money, and to have to rebuild it.

I think its FUN, when you already know the ending. and how the game is played. takes alot of the fear out. now you just do it faster and funner than before!


Toys? get dirty, get old, get used, get broke, meh, not so much my thing. Experiences are my thing. My driver.

ya thats it. more experiences of doing the impossible. sign me up.


Z

That is an awesome post!

 

[Likwid24]

Fortunately you don't need vast amounts of wealth to do just that...
[video=youtube;aYknt5L6VRI]http://www.youtube.com/watch?v=aYknt5L6VRI[/video]

This is Great. It gave me a great idea for next Christmas. I love donating and helping people out during the holidays.



And Awesome post Zen. You da man!

 

[Vigilante]

more.

 

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[Kak]

This is Great. It gave me a great idea for next Christmas. I love donating and helping people out during the holidays.



And Awesome post Zen. You da man!

Speaking of! How did the Sandy collection go?

 

[chrisalta]

I sold a biz and took 4 yrs off once. It about bored me to death.

That's awesome bud, what type of business was it?

 

[Shakeandbake]

Excellent responses! Keep it coming!

Another thing that is slightly on topic.

I'm scared to go full force into my part time business because of a few main factors:

1) I won't be able to have the same amount of time to spend with my wife and kids (but maybe more quality vs quantity?)
2) I will be a workaholic and just be too focused on the business and expansion
3) No social life

How do you guys conquer this very popular stereotype about Entrepreneurs? What backstops do you have in place so that way you don't forget about the 3F Trinity (Family, Freedom, and Fitness).

 

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[DeletedUser2]

1) I won't be able to have the same amount of time to spend with my wife and kids (but maybe more quality vs quantity?)
2) I will be a workaholic and just be too focused on the business and expansion
3) No social life

How do you guys conquer this very popular stereotype about Entrepreneurs? What backstops do you have in place so that way you don't forget about the 3F Trinity (Family, Freedom, and Fitness).

its not forever.

you sit down, with your wife, and say, sweet heart, IM going to leave you.... for a little while. I'm going to become totally submerged in launching a business, and making money. I'm going to suck at being a husband for a little while.

BUT

in a little while, im going to come up for air. and and the 1-2 yrs of focus means that we will be able to ditch jobs, and recreate our lives the way we want. Im going to take the biggest risk, because spending time with you and the kids is more important , but not just the tired nights, and occasional weekends.

Im going to get to spend ALOT more time with you. AFTER I work my a$$ off.

Balance? that's for AFTER the hard slog through the start up.
or you can slog it out with balance for the next 15 yrs.

PS. dont buy the lattes, save your money.. right?

Coffee is for closers. go close the deal.



Z

 

[johnp]

SUCCESS. It is my ethical duty to succeed. The moment that I stop working towards success I put my entire life in jeopardy.

I put my fiancee at risk, my future kids at risk, my investors at risk, I put my family at risk, and I put the people who work with me at risk. If I attack success as though it is unlimited, uncapped, and attainable, then boundaries do not exist. Making 1 million, 10 million, 100 million, 1 billion, and even 1 trillion becomes a realistic goal, thus securing my wealth in terms of: spiritual, health, relationships, and money.

 

[Shakeandbake]

in a little while, im going to come up for air. and and the 1-2 yrs of focus means that we will be able to ditch jobs, and recreate our lives the way we want. Im going to take the biggest risk, because spending time with you and the kids is more important , but not just the tired nights, and occasional weekends.

Im going to get to spend ALOT more time with you. AFTER I work my a$$ off.

Balance? that's for AFTER the hard slog through the start up.
or you can slog it out with balance for the next 15 yrs.

This really makes sense to me! Thanks for the great eye opener.

I have a second *last one, i promise* dilemma in this thread:
https://www.thefastlaneforum.com/ge...-my-current-growing-business-partnership.html

I'd love to hear your advice any anyone else's too!

 

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