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(YBYR14) What If Your Income Goals Scare The Pants Off You?

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Welcome to episode 14 – What if your income goals scare the pants off you.

Well, so what if they do!? Let’s talk about this…

How our dreams change over time

We all want to dream big in life and probably make a lot of money. We are encouraged to. In some ways we’ve been encouraged to all our lives to do the next thing and have goals.

We all looked forward to growing up and wondered what we do in the future. I wanted to be a pilot (terrible idea!) and wanted to see the world.

We’re generally striving through our lives in some sense until we hit the work force.

Then sometimes we keep striving there and then sometimes we don’t or sometimes we just plain hate it.

I am pretty sure as soon as I managed to land a good job overseas I then started scheming how I could work it all out so I wouldn’t have to go to it any more. Not that I hated it, it just didn’t seem like the best path.

We strive in other areas of lives too, to find a partner and all the other elements of life that are important to us.

Then at some point we’re solidly into adulthood and we lose our childhood wonder and adult life seems kind of tough, or at the very least it takes a long time to make big changes.

It’s not longer full of possibilities like it once seemed.

And that’s often the point when we start to wonder if we are kidding ourselves with our big dreams.

So what is possible?

Can we start or grow our business to amazing income figures?

Yes, we can.

We totally can, but unlike childhood life where amazing gifts can just show up, on birthdays and Christmas, now our big dreams come at a cost.

And that’s the part that scares us.

Opportunity cost

So if you are going for your big dreams that is truly amazing and I’m sending you lots of respect and love!

If you aren’t or aren’t yet it’s most likely got to do with two words: Opportunity Cost.

The loss of alternatives when one alternative is chosen.

The more you have set up in your adult life the more you potentially have to lose by making big changes or being an outlier.

Or at least that’s how it appears.

So if you’re thinking you’d love to earn a million dollars and you are totally up for doing that, there will be another part of you that says:

  • Will my friends still like me?
  • What if people think I’m greedy?
  • What if I am greedy? What does that mean?
  • How much risk will I have to take?
  • Should I maybe do something else?
  • What if it fails?
  • Will my family think differently about me?
  • Will I be expected to pay for everything?
  • What if this means I can no longer go into town with no makeup on?
  • Etc etc

And all of a sudden while you want the big dream, the big money, or whatever it is there’s a lot more going on.

You have friends, a place where you live, family, the status quo – do you really want to rock the boat quite that much?

The bigger the goal the more it seems we have to lose

The bigger the numbers you set yourself or the bigger the goal the more it can appear that you have to lose, as well as to gain.

It’s far off and who knows what kind of changes will happen between now and then outside of the exciting stuff that we know we want.

So here’s my suggestion:

Have a big vision but small, more immediate goals

Have a big vision, but small and more immediate goals.

Woahh, set small goals that sounds lame! Ha ha, I know, we are conditioned to think this.

If I think about my own experience when I’ve set myself a huge goal my emotions go from excitement, enthusiasm, waning enthusiasm, resistance, dread, denial and then feelings of disappointment.

Whereas when I’ve set a goal which is a bit of a stretch but is possible I’ve been able to see the finish line and feel good about and hit the goal. Then set the next goal.

So what do you do if your income goals scare the pants off you?

Have that number, or big dream as the bigger vision that you are headed towards. Then set smaller, in between goals.

We’ve all probably heard that we over estimate what we can do in 1 year but underestimate what we can do in 10.

Think of it that way. You probably don’t need to be an overnight success.

There aren’t truly many of these and most of them had massive growing pains to get there so fast.

Have the big vision, set smaller goals and go at it a little more gently. That way you give your emotional and physical world time to catch up and grow in to the big vision.

I know when I started out I just didn’t want to go back to work and then my aspirations grew from there.

Now I do have income goals that scare the pants off me, but I’m attacking the in between goals first.

So what does that mean for you?

Have the big vision. Set yourself slightly scary stretch goals before your pant scaring goals. That way you are working your inner psychology to your advantage and proving to yourself that yes, you can do this.

 

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What do you think?

Do you think setting big goals is a good idea?

What works best for you?

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