Lastly, my week 1 homework tells me to create my definition of success. If everything goes wrong, what 1 thing will make this worth it?
Firstly, I think education is the main thing that will make me feel like this is a success. If I learn a lot through this process, it will be worth it. If others learn from it, that would make it worth it too.
Definition of Success – Money
A lot of people use money as a measure of success. Fortunately, I’ve never had that problem. Although I place value in a comfortable lifestyle, money doesn’t necessarily get me there.
However, before people jump on me, I should clarify a few things.
- I need money to survive. I think I would be a terrible off-the-grid type. My wife and I do not make a lot of money, and that is fine. We would probably be more comfortable if we made $10-$30,000 more each year. However, we budget and we don’t spend money on extravagant things.
- My situation is not everyone’s situation. I’m not condemning the desire to have more money. However, money does not motivate me for this particular project.
- I’m not quitting my day job yet. My income is needed for my household. In that sense, I am motivated to earn enough money to help us survive and save for the future.
Goals Versus Definition of Success
There’s a lot of overlap between goals and definition of success. There should be. In this case, my definition of success is for the mental side of things. The project is a success if I meet this definition, but the company might not be. I need separate goals as a way to project the company forward.
As you might recall, when I first announced this experiment, I created some goals. In summation, they are to earn $50,000 per year, create a wealth of content, and have most of my income be passive income.