Whether they are wealthy or suffering fiscal misfortune, many of my clients bring up money issues in our work together. For them, coming into a healthier, more conscious, empowered relationship with money is extremely important. Here are some simple approaches that are really effective.
Money is connected to our power: our ability to set boundaries, to say no to distraction and to do the hard thing. When someone puts him- or herself through torture around money, more often than not we trace that to a challenge the person has in making and keeping clear agreements.
We all have a vision of how we want life to be. How good are you at facing facts? While holding your vision, how candid is your assessment of what is actually going on? Facing the facts about your money situation is the first step to radical financial freedom and empowerment.
Facing facts works best when we distill what is actually going on into numbers. We have to get clear on the most important thing to measure: our key performance indicator. When we get this right, the rest of our money life goes just fine.
For some, it is income: “If I average $500 a day, all the rest of it will work.” For others, it is about monitoring expenses against a budget. For yet others, a measure of outreach is the key link to success, as in: connecting with 100 new people each week, registrations, clicks or conversions. A rate of some kind is often most effective, as in: $100 per hour, $1,000 per customer or $5,000 per event.
For you, which key performance indicator is most correlated with your success, with fulfilling your vision and realizing your potential? For this immediate next phase of your money life, what measurable output do you want to optimize?
These questions will help further refine your key performance indicator:
- What is the gift you express that other people value?
- By what means can I measure how much of that gift I express?
- Is that gift being received by the people who value it most?
- Can your present audience afford to pay for the gift?
- Are you asking the people who value and receive the gift to pay?
Money loves specificity. Ask someone if they would be willing to sit down to go over these questions with you. When you answer these questions, tell the truth to yourself as candidly as possible. Translate each answer into a measurable and attainable number. If you find yourself being hesitant or fuzzy, look at what you’re averse to and lean into that.
Set yourself up to optimize the beneficial effect of the gift that is yours give. Measure your output and what it takes to deliver that output. Keep track also of how those who value what you offer are responding to it and paying for it. Just the tracking will likely make for a joyful financial life. Even better if you are willing to share your tracking of your key performance indicators with a trusted friend who will hold you accountable. Money empowers those who get specific about optimizing their gift.