Here is an exercise I have done with clients who have children. You don’t need to have children to do this exercise – you just need to have an idea of what is involved.
I’ve found that comparing two simple numbers can often lead to the significant mind-shift you need to accelerate your progress as a business owner.
The cost of raising a child in the UK has been rising steadily for years. And education is almost always the biggest expense.
But what happens when you leave the schooling and university system? Do both education and the investment in education stop there? If you find that you aren’t spending any time or money on your education as a business owner, then you are doing a disservice to yourself.
It’s easy to see how education is an investment when you put in the context of children. It is critical to have that same mindset about your education as a business owner – investment in yourself is the best investment you can make.
Prefer to read rather than watch and listen? No problem – here’s everything I said in the video as text:
Hi, this is Shweta from London Coaching Group. I want to give you a very simple task today.
I want you to jot down the amount that you intend to spend on your kid’s education or that you are already spending on your kid’s education. Plus also the amount that you intend to spend or are already spending on their extracurricular activities and clubs and all that stuff, right. Just give me a guess estimate for the year. And obviously, it’s relevant if you have kids or you plan to have kids.
So just think of the total. Now, I’ll give you five seconds.
After that I want you to jot down the amount that you are actually spending in a very active form of learning for yourself, okay. I want you to jot that down, saying “this is the amount that I am spending on coaching, on learning, on books, on going to some activities conferences”, jot that down. On an annual basis, what is the amount that you’re spending.
For some of you would be like “What? Really? No, I’m not spending anything, I’ve done all that schooling”. Remember that learning is a constant process. Now when you look at these two figures and by the way, I do that sometimes with my clients, especially when I look at their goals for their kids and for their loved ones, my question is, “And how about you?”
So the point is, your learning cannot stop. If you are not investing in yourself, if you’re not spending on resources which can help you make better then your earning is pretty much a reflection of your learning. And if you want to do more, if you want to become more, if you want to achieve more, then you have to learn more. As simple as that.
So I really hope that gives you some food for thought and this is something that you will consciously push you going forward because it’s an investment in yourself and you’re the best person to be invested in.
Asking the Hard Questions
It is the job of a business coach to sometimes ask business owners the harder questions – about their business, and about their behaviours and attitudes when it comes to their business practice.
Book a complimentary session with us and find out whether having someone ask you the right questions could lead to even greater business success for your business.