When you start a business venture it’s very easy to get carried away. You get excited and suddenly find yourself sleeping only four hours a night, eating fatty fast food, and avoiding moving from your desk chair for 18 hours a day. Sure, you might eventually get the success you seek, but you may die trying. That’s just not worth it.
What Is a Need versus a Want?
When you start your business you need to be clear about what are needs versus what are wants. Needs are things that are required, and wants are things that aren’t necessary. For example, when it comes to business you need a basic website. It would be great to have a fancy $10,000 website, but in reality you may only be able to afford a $500 website.
That’s okay – the less fancy website can work just as well as the more expensive one. And, you can always build the fancy one later if you really want it, once you are earning the type of money you plan to earn. But, don’t allow something like a website cause you to get stuck and not move forward with your business.
Good Health Is a Need
When you started your business you likely started with good health, but if you push yourself too far you may find yourself building wealth in exchange for losing your health. This just is not worth it. Instead, build your business slower, working steadily certain hours each day toward your goal.
Being with Your Family Is a Need
Your children will grow up really fast, and your partner may or may not be around forever. Things happen. Strokes happen. Accidents happen. No matter how hard you push yourself in business, giving up your family time for business is not going to ultimately give you what you most need or want from life. Instead, carve out important time to be with your family because it’s more important.
Food and Water Is a Need
You already know that you have to eat of course, but did you realize you really do have a choice of what you need to eat? All you really need to eat is whole foods. You can actually live really well on beans, rice and veggies. No joke. You can even get by on drinking water and not milk. That means that your food need is relatively inexpensive. So, until you build your business you can budget food needs pretty low.
Basic Shelter Is a Need
Yes, you need shelter but do you really need 3000 square feet? Think about how families lived in the 1950s. The average house was half the size it is today. Children rarely had their own rooms and most houses had only one bathroom. You can scale down your shelter to the minimum as long as it’s warm and safe. That’s a need; the rest is a want.
Customers Always Have Wants and Needs Too
A great way to please your customers is to be able to distinguish between their needs and wants too. If you can provide them with their needs you’ll be successful, because deep down all anyone really wants is what they truly need. Everything else is just icing on the cake.
What are your needs and wants? How do you balance your business between meeting your needs and filling a few of your wants?