The Freedom Metric makes it possible to run your business in such a way that it allows you to live your ideal lifestyle. It’s easier than you think.
Why did you start your business? I’m sure you remember vividly.
Was it because it was your ticket to freedom?
Until you got in the thick of it, right? And before you knew it, your life became your business.
I know…because it was my own experience exactly.
But as the years passed, I came to believe that our businesses should be our vehicle to create the life of our dreams rather than a chain around our neck.
If you think it’s not possible, I’ve got news for you!
It CAN be done with a simple but powerful concept. It’s called the ‘Freedom Metric’.
What is the Freedom Metric?
Sometimes ‘Freedom Metric’ is used to describe financial freedom. But that’s not quite right, if you ask me. More than about money, it’s about lifestyle. And yes, money comes into that. But it’s not the goal in its own right.
What I’ve learned over the years is the ‘Freedom Metric’ makes the link between your business and the lifestyle you dream of. As I said, your business is the vehicle.
So if I need to pour it into a definition I would put it like this: the ‘Freedom Metric’ is the amount of money per month you need to live your ideal life. The amount of money you need to sustain your dream lifestyle.
Why is it Important?
Ask yourself your ideal life looks like.
Most women I work with have a vision of the wealth, the success and the impact they want to have in their life. How they plan to get there, however, is often a murky picture.
Admittedly, it’s not always an easy question to answer, because maybe you don’t know what it is you want. Sometimes we don’t allow ourselves to dream because it feels like we might never get there.
I remember battling exactly those obstacles in my 20s. What I wanted wasn’t exactly clear and because it seemed like a very far-fetched goal; I thought it would only lead to frustration and disappointment. So… I didn’t allow myself to think about it.
Little did I know I was so wrong on all accounts.
Because once you determine your Freedom Metric, it helps put your business goals in place. It’s a reverse engineering process. And before you ask, it is not static.
It is, however, a very powerful tool because it balances lifestyle and business against one another. And in doing that, you get a clear picture on a very practical level.
And THAT is where the magic lies.
I want you to sit down and think about how you would live your life if money didn’t matter. Walk yourself through a day of you living your ideal life.
Make a vision board, write it down in your diary. Whatever works for you.
What do you want to do when you wake up in the morning? Who do you want to see? How much time do you want to spend on your business? What does self-care look like for you? Does your dream life involve fur-babies? Do you want to be a mum? Do you dream of a cleaner so you no longer have to get the bucket and broom out every week? Would a family holiday make your heart sing? Do you have a suburb you wish you could afford? Maybe you simply would love the time to go for a run in the morning?
What your dream life looks like is entirely your prerogative. Nobody can tell you what it should entail, nor is there a right or wrong. It’s also not a question of whether it’s achievable or whether or not you can have it.
Don’t judge. Just write it down.
Calculating your Freedom Metric
From there, it’s easy enough to calculate your Freedom Metric.
- Step 1: Turn that ideal lifestyle into a list. A spreadsheet is ideal. Nothing fancy or complicated. Just item by item.
- Step 2: Put a value next to each item. Google will help you figure out the cost of a cleaner or the holiday you want to take your family on. Add it all up.
- Step 3: Then…Reverse engineer. Starting from your current business revenue, you work out how much your business revenue would need to be to sustain that dream lifestyle, taking business expenses into account.
This figure is your FREEDOM METRIC. The amount your business needs to earn to upgrade your lifestyle.
How you get there is not the question right now. That’s for another blog.
Turning it into a goal
What you need to do is start embracing your upgraded lifestyle one step at a time; starting from RIGHT NOW.
How do you do that?
- Write your Freedom Metric on a sticky note and put it in a very visible place. It reminds you every day what you’re working towards. It gives you focus.
- Little by little, as small extra amounts of money come in, you chip away at the list. One spreadsheet line at a time you upgrade your life.
- Revisit your spreadsheet (and your idea of your ideal life) every year, six months, quarterly, …whatever works for you. Every time you revisit, you also update your dream list AND your Freedom Metric.
- Don’t forget to make a point of looking back at what you have achieved. It’s the most rewarding feeling. I promise you’re going to be amazed by yourself.
Before you know it, your business is part of your life (as it should be), but you’ve created balance. You’re finally running your business on your terms, as you intended on that first day!
Did you find this helpful? Is the Freedom Metric changing your business goals? I would love to know!
Leave a comment in the Apple podcast App or snapshot your ideal life and share it on Instagram and tag me @sandrajulian.co. You can catch me there most days and I make it a point to read every review.