Reevaluating Success: A Balanced Approach to Making Money & Maintaining Sanity

Aspiring entrepreneurs, take note: success isn't solely about hard work, but also mindset, personal goals, and learning to prioritize what truly matters.

  • * Many people feel behind when comparing their lives to others on social media.
  • * The traditional view of working hard to be successful is flawed; mindset and approach to money play a significant role.
  • * Define your own version of success, which may not involve making as much money as possible.
  • * Set realistic and challenging benchmarks for your medium and short-term goals.
  • * Consider Humphrey Yang's guidelines on how much you should have saved by certain ages:
  • + By end of 20s: Salary x 1
  • + By retirement: 10-15x salary
  • * Develop the habit of tracking your finances and expenses.
  • * Create systems for managing your personal and business finances, including monthly expenses, investments, and savings goals.
  • * Follow a budgeting strategy such as the 50/30/20 rule (50% necessities, 30% joy, 20% savings).
  • * Embrace lifelong learning by attending conferences, joining communities, and participating in courses to improve skills and meet new partners.
  • * Constantly try new ideas, take risks, and focus on what you're doing, especially during your most active years.
  • * The goal is not just to make as much money as possible but also to be happy. Prioritize relationships and self-care alongside work.
  • * Find a balance between working hard and taking time for yourself, especially as you grow older.

Source: Silicon Valley Girl via YouTube

❓ What do you think? What does "success" mean to you, and is it more than just making a certain amount of money? Feel free to share your thoughts in the comments!