subject: Professional Success Doesnt Mean Personal Success [print this page] For the entrepreneur, building their business is something of a personal matter. Everything is done by you, and most of the time its done alone. This means that you manage everything, right down to the last penny your business makes. So, youre in charge of all the work, all the jobs, and all the money, too.
Unfortunately, that doesnt mean that your personal finances are going to match your professional finances- and vice versa. For some, discovering that theyve let their personal finances slip while they were taking care of the business can come as a surprise, and often a little late. This is why it is important to realize the difference between the two, so that you can balance your professional self with your personal self.
Your finances dont always equal each other.
Just because your business is balanced, and in fact booming, that doesnt always mean that your personal budget is doing well. These two finances are very different, especially when it comes to the rules and regulations of the business world.
Getting organized
Balancing your efforts between business and personal takes some organization. Since the two are separate, keep them separate. When it comes time to pay bills, cover expenses, and budget yourself, dont do both at the same time. Take care of your business. Then at a later time take care of your personal budgets. This will help keep all those numbers from becoming jumbled in the mind.
Keep documents, such as transaction histories, readily available. The online world has made it easy enough to track our spending, so keep up with it. Theres nothing better than actually seeing the numbers and where theyre going and coming from. If your online sources dont provide such amenities, then head to the bank (or credit union). No matter what, having the numbers where you can readily analyze them can make a big difference.
It is important to remember that what the business is making, doesnt necessarily carry over into your wallet. This simple thought is frequently overlooked by business owners. We see those good numbers running down the columns and think to ourselves: Im doing great! But in truth, it is the business that is doing great, not necessarily you.
Keep in mind that personal success requires the same attention to detail that your professional success does. Numbers and calculations must always be approached with the same focus, whether its for your business or you personally.
Dont forget that personal success leads to professional success
Being able to handle yourself personally sets the path for your professional success. Because it is you who is in charge of your business, it is important to take care of yourself personally. Dont neglect yourself financially, or even physically and mentally, either. For some, they may think that pushing themselves hard and neglecting their personal success, their business will succeed. And while that may be true to some extent, they forget that just because their business succeeds, it doesnt mean that they are personally successful.
You have to balance the two- think of it as balancing your budget of success. Keep both your professional and personal success on your agenda, so that you can become successful in all aspects of life.
by: Russell Wallace
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