Last Monday I was in a total funk. As I mentioned in my greeting, it's easy for me to get overwhelmed with all that is unfolding within and around me and my business right now. So, I was really looking forward to my monthly mastermind call with an invaluable group of colleagues whom I love and trust.
When it came time for me to check-in, my overwhelm was apparent... as I jokingly asked if my colleagues knew how to create more than 24 hours in a day? After we all chuckled (because everyone could relate) one of my colleagues said, "Listen, Christine. You've hit the million dollar mark in your business already, so when is enough going to be ENOUGH? Why do you feel like you have to keep doing more?" He said it with a lot of energized love and care for me and I felt it. It was a really good question.
I answered him. First by saying, "Well, a million dollars really isn't a million dollars. It's not like I'm rolling in money and don't have to think about it anymore." Then, I continued to say, "You know, I'm not sitting on a million dollars in the bank or anything, I've still got to pay attention to cash flow and the continued growth of my business."
I proceeded to share with my colleagues how the numbers were calculated for me to receive the million-dollar entrepreneur award and what was left after determining how much it COST me to generate those kinds of numbers.
For the purpose of the award, the income calculation was based on all of my 2008 revenue plus total SALES in January 2009 (the month of my Freedom Formula Experience in Los Angeles.) Notice I didn't say revenue that came in January, I said sales... some of those sales were paid in full and counted as January revenue but many of them were for programs that had 12-month payment plans. So, rather than having all that money in hand, I had account receivables for 2009 totaling hundreds of thousands of dollars.
Then, I explained what my expenses were to reach the million dollar level of revenue, and they quickly began to see that "a million really isn't a million." Yes, according to how the award was calculated I hit that mark. But, now that I'm a few months out from of all the celebration, intensity and attention; I've been much more grounded in what that million-dollar number really looks like for me and my business. And, the truth is, it's not enough money for me to have as much of an impact as I want to have in changing the face of business in the United States and around the world.
My colleagues now understand why I "do" a lot, and why I have multiple projects underway simultaneously... and also why sometimes I'd like more than 24 hours in a day. I still need, and more importantly WANT, to grow my business and explore new and improved ways to make a difference to entrepreneurs who believe in a conscious approach to business. And, I trust my sharing this with you is an example of what conscious business looks like.
It's important to me that you have a clear understanding of who I am and not an inflated view of me as a million-dollar entrepreneur. So, I felt that if my mastermind colleague would ask me a question about "the million", that some of you may have had the same question in your own mind.
I'm so grateful this question was asked; it brought light to something everyone in the mastermind related to. Now as a result, at our next meeting we've agreed to bring our profit and loss statements and review them together so we can all get a true barometer of the financial health of our business, and what it'll take to continue to expand our business and message. Is this a vulnerable thing to do? Absolutely! I can't think of anything more vulnerable in a business than revealing your profit and loss statements... it's like being naked. But, isn't that the path of a conscious entrepreneur? Yes, indeed it is.
Stay tuned next week as I share the second part of my answer to this question.
© 2009 Christine Kloser
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