Please forgive the reference to the pop-culture finance book by Robert Kiyosaki. Today’s post is about being Rich while making less money, sort of the opposite of what that book teaches.
Let me wind back the time a little. When I went full time with the coaching business in 2023, I had a little extra money to buy me 4-6 months of runway. The deal I struck with myself was simple. If I can generate another 3 months of runway at the end of this timespan, then I’ll keep going. If at the end of those 3 months, I was able to create another 3 months runway, then I’ll keep going. Etc. you get the idea. So psychologically it was less about building the ultimate business that is solid from the first hour. No it’s about steady and stable growth, that will allow me to experiment in 3-Month-Chapters.
So now, 13 months later, I get asked quite a bit - “How has it been, what have you learned, are you going to continue?”
I have learned a lot, too much to get into every little detail here, but the most interesting thing for myself is this:
In the last year, I have made less money than I’ve made per year in the last 10 years - yet, I have been Richer than ever.
Oh sure, Ben, that sounds like some sort of self protecting denial thing going on here... Well maybe that’s true, but let me explain:
I have capability to work whenever, with whomever, however I see fit. I can chose whether I work from home, from a Co-Working space, from the beach or from the back of our family van. Half way through the year, I decided I wanted to do 3 day weekends. I call it Autonomy Rich
I am working with clients who are ambitious, brave, fun to work with. They are pursuing grand ideas in their personal and professional lives. I get to be part of their story. I get to use my skills in service of their growth. I call it Purpose Rich
I am allowed to work in a pace that suits me, with the amount of pressure and stress that is just right for me. I can work with people and on topics that give me energy, that light me up. When I feel tired, I can rest. When I feel extra energetic, I can keep going. I call it Balance & Joy Rich
When things come up, an event at the kids school, the desire to have lunch with Naura on a random Thursday, Charley wanting to go on a spin with his bike, Rudi wanting to go on a hike in the nearby forest. Recently, I played Minigolf with the kids in the middle of the work week. I can almost always just go and do these things. I call it Family Time Rich
The way I work is quirky and unique. I am not limited by a process that doesn’t work for me. I am not limited by many boundaries at all. I can design the work that makes my own, unique strength fully come to light, in service of my clients. I’ve never experienced that in my professional life before, being able to really bring 100% of myself to work, the good, the bad the ugly. Knowing that all of it is in service of my client. I call it Play to my Strengths Rich
And lastly, while by far not as abundant as in previous corporate jobs, I have earned money with my business, money that pays for the mortgage, petrol, insurance, food, the occasional trip, YouTube Premium, repairing the house heating system etc. I call it Enough Money Rich
There is probably more, but those are the main things that come to my mind right now. Looking at this list and experiencing this every day, it really becomes apparent that I am gladly a little less financially Rich to be Rich in those areas instead.
Does that mean I am not ambitious when it comes to making money? - No, of course I am ambitious. I will continue to work on becoming a better coach every day, adding more value every day, changing lives every day and hopefully by that earn more money as time goes by. Becoming financially rich is an outcome of doing meaningful and great work, not a prerequisite to getting started.
For now, I am happy where I am and with a little luck, I will be able to write another post like this in May 2025. A little richer either way.
Well, almost everything you mention was my motivation to go for self-employment 38 years ago. At the age of 22 I got married and already knew, I wanted a family with 2 kids shortly after. And I knew, that I wanted to spend a lot of time with them. Three months before our son was born I stopped working and returned to look for customers as he was six months old – nine months only for the family. It was another six months, one before and five after the birth of our daughter. To me these days are still some of the best memories of my life. I did not get rich those days, had to consume money that was earned before – but I would always do it the same way again. Watching them grow up and being present for them always was my number one priority. Again: I did not get „rich“ by the common meaning, but I never missed a single important step in the life of my kids. I love them and I have the impression, that a lot of that is coming back to me.