Measure of success ?

I believe every one of us have a different standard, is it owning your own home ? Having no debt ? Have retirement savings / plan ? Have a Porsche or Lamborghini ?
I would say at this stage of my life, none of those mentioned is a measure of success for me, I still have a slight ambition to grow the company a little bit more, which I know I can do but the past headaches when I ran 3 vans full time every day just killed that ambition every single time.

I think if I can stay busy every day is probably my measure of success, it doesn't have to be busy in the the truck, actually it should not be busy in the truck at all, just need to do stuff all day, because when I'm doing stuff, I'm definitely making some $$ and when I'm making $$, other people are making $$ off of me too.

I have always been a stranger to money, so my measure has always been the same since my military days: Start my day with optimism and end it with achievement.

My measure of success? Making my target dollars, gross per hour on every job. Retaining my clients, and using my business as a tool to live the lifestyle I want. Making my business something I am proud to say I built.

Many folks, especially new business owners, have a pie in the sky view of what success looks like. They don't think you have success until you can take exotic vacations at will, have an exotic house, and make millions a year.

That view is nice, but really unrealistic. Because extremely few ever get to see that. Boards and YouTube are full of idiots trying to motivate people to start a business with 50 or 100 bucks so they can make 500 bucks a day. Then these folks that are only doing it because they "care", eventually are trying to sell these saps with big dreams, something. Books, tool packages, and coaching.

This is a subject that I have been seriously thinking about for a week now. I've even thought of starting a channel to help people who are actually willing to be realistic, and avoid the bullcrap and the lies. SOMEONE needs to be real and honest with people about starting a business, and how to scale it, AND how tough it actually is.

I don't think educating them would do any good Freemind. It is like playing the lottery, we all know that you have virtually no chance to win, yet people will still buy a ticket.

Less than 25% of start-ups survive past 5 years, that means it is a long shot, yet people will keep buying into stories of Eldorado because people will always want something better than the miserable job that they have.

Personally, we agree with each other. I just want the ability to pay the bills and allow enough free time to enjoy my other interests. I don't think that is too much to ask for in life.

Well James, I hope you do that video !! If you can just turn one person around from their unrealistic dream, you already are a success !!

I guess by Bob's standard I'm successful but I haven't even own a home yet, so I wouldn't be so fast as to claim that, lol.

Owning your home is over-rated in my view as you never really own it. If you don't believe me, fail to pay the property tax and see what happens.

My house should be paid off in another 5 years, but I remain broke so it is no gauge of success either.

milspec6 wrote:I don't think educating them would do any good Freemind.  It is like playing the lottery, we all know that you have virtually no chance to win, yet people will still buy a ticket.  

Less than 25% of start-ups survive past 5 years, that means it is a long shot, yet people will keep buying into stories of Eldorado because people will always want something better than the miserable job that they have.

Personally, we agree with each other.  I just want the ability to pay the bills and allow enough free time to enjoy my other interests.  I don't think that is too much to ask for in life.

You are probably right, Bob. I think we all get sucked into the "gonna be rich" thought process, when we first start a business. I'll think on it some more before I do it. I have no aspirations to be a YouTube "star" or make money off people telling them what half a million other people have said in books already.

You remember Dirt Hunter that was here a while back? The same guy struggling to get janitorial accounts and bought some machine for cleaning bathrooms? He cleans glass now, and paints houses I guess. He started a channel about coaching business owners. At first it was "because I care", now all the sudden he is trying to play guru and wants to sell his 100 followers on webinar coaching. I knew what he was after when he started the channel, and I don't like the dishonesty. Lots of guys JUST like him out there. Hell, the jerk even implemented my marketing idea I gave him and decided to spread the word on YouTube about it. Wish I would have never told him now . Saving grace is he has hardly no followers.

DP, owning your home isn't success. Your happiness is. The only reason I want to buy a house rather than rent? So I can do with it what I want. I don't see owning a ordinary home a sign of wealth or success. It's more of a liability. No one to do the repairs and upkeep but you. My neighbor owns several homes. The one next to me is for sale, with all the land, for over a million dollars. He has owned it for some time, but that home and land doesn't make him a dime. IF he sells it, he will make a nice profit, but he will have to reinvest it in real estate or pay taxes on the sale.
Typically when you buy a home and make mortgage payments, you'll pay double the price for it. I don't think my home will ever be worth double what I paid for it in my lifetime. So when it's sold, I'll loose money on it.

Gurus exist everywhere, just look at all the gambling experts out there that will sell you there "secret".  People will always dream and see greener grass without considering all the manure that it took to get it so green.

A wise man (my Grandfather) once told me that you don't buy a home as an investment, you buy a home because you want the lifestyle that comes with the home.  I didn't buy my first until I was 37 years old and only because I wanted to grow a spice garden and needed a garage for my auto restoration interests.  It has never been an investment to me.

Not that I am discouraging home purchases...quite the contrary as a mortgage can often be no more than the cost of a nice apartment in this area. I just don't consider part of someone's worth. If I could go back, I would have built a fire house or industrial shop with a loft apartment and been far happier. That is what I want to do some day.

I highly recommend the following book, it was very eye-opening:

http://www.goodreads.com/book/show/6787.Get_a_Life

Owning a home in so cal right now is tough DO and it will defiantly leave you with less money in your pocket.

The home prices in my area are out of control a definite bubble. If I was using this home as an investment i would put it up on the market now.

In Dp's case, when California votes to secede from the US in 2018, he will own foreign property. So, he has that going for him.

I agree there are pro's and cons of owning a house verses renting. I also agree that if you think buying a house for investment reasons is a risk, I didn't build my home to sell it. It is a home where my kids were raised in.
As for the rich thing.
I had the pleasure of meeting and talking with a wealthy gentleman, after listening to him I saw things a little differently. He said rich people are still just as broke as most people living pay check to paycheck. After talking with a lot of my customers and listening to them I have found that for the most part he was right.
Rich is a state of mind, a status if you will. Keeping up with the Jones.
Wealthy is a fact. When you have more money coming in than you have going out and you have a surplus left.
Then he said try this and I know some of you guys are making this. He said take $10,000 a month and spend it pay your regular monthly bills. But the first of the month you get another $10,000. Unless you are just blowing the money you are going to have a excess. I am not there but I am working on it. If I can get the house paid off, I wouldn't owe anyone for the most part. But I am working on it. Needless to say he had investments.
By the way DP1 he ordered a 360 Medina with the t1 shift kit paid the deposit. When it came in 4 months later, he paid it off close to $200,000.

I have very wealthy Brothers and yes, they seem to be just as broke but with much nicer things.  As you increase your income, you also tend to adjust your living along with it so you always end up with a similar ratio.

For me, the biggest financial moment in one's life is when you can pay bills immediately as they come in.  Once you reach that point, your stress level declines a ton.

Looking back over the years, I was wealthiest in the Marines living on base.  I didn't have to pay for rent, food, medical, dental, nor utilities and I didn't own a vehicle.  Back in those days, I didn't get paid much (about $700 per month) but it was in cash and was normally blown at the beach in a few days.  

I was rich then.

Seven hundred dollar's and the beach? GOOD times nd doesn't get batter than that

Mo wrote:Seven hundred  dollar's  and the beach? GOOD times nd doesn't  get batter  than that

It sure doesn't Mo....funny that I have been working my whole life dreaming about retiring to a beach when I actually started out that way. I already won at 17, but didn't realize it. I think I have only become dumber as I age.

Wow, very interesting diverse views of this topic, I actually don't consider owning a home by itself as a measure of success, but I was thinking owning a home would be one of a few measures, it's amazing how some of you disagree with that.
And the way James is thinking kinda make sense in a way, you pay close to double at the end of 30 years mortgage, but when you account inflation into that math, it's almost that same amount considering inflation is at 3% annually.
However your home most likely worth 10 times of the purchase price if not more, so if you sell it then, you definitely are making huge profits.
I'm actually getting into financial advisor job, too early to tell if I'm serious about it or not, I'm working on getting my state license for health and life insurance. That being said there are some really good investments out there aside from property investments.
Thank you all for your inputs, it's interesting to see others point of view on certain things.

I think it might age-related as well Dp. When you are young you want to own the world and see things in the light of more money equals more happiness. As we age, sometimes all we want is a warm place by the fire and to be left alone.

Now that I wrote that, I am compelled to post one of my all-time favorite scenes in movie history.

https://www.youtube.com/watch?v=ZwMVMbmQBug

Yeah I agree with Bob. When you are young, you don't have much wisdom, experience, or knowledge. You are a dreamer that thinks they can conquer the world. Which may be somewhat true, but not reality.

I used to think the only way to be stress free, happy, was to have money to roll around in. While money is nice, it isn't everything.

I don't want the making of money to consume me. There are things in life more important than money. Some may not agree, but piles of money isn't where I find happiness.

I certainly agree with you Freemind....took working multiple jobs for 55-60 hours a week for 12 years to realize it.

If you learn to pay yourself first by maxing out your IRA you will be surprised how much accumulates over the years. The time will pass much faster than you think. When your a small business owner you are on your own when it comes to retirement. I never expected to still be cleaning carpets after thirty three years but here I am. My secret to lasting as long as I have is pacing myself. I don't want to be pushing a wand more than four or five hours a day. I learned that having employees is no fun and the more you have the worse it gets. I delegated the physical labor for fifteen plus years and know what that entails. Endless headaches. When you are the best and communicate that to your clients they don't mind paying you more. They will loyal to you for years. Believe it or not we have been cleaning Pizza Huts since 1984 with no end in sight. Early on I used to fly over to Maui and the Big Island every month to clean Pizza Huts and Toys Are Us. I made up a special portable I could take on the plane. The jobs were at night so I'd sleep on the beach during the day. It's amazing what you will do. LOL No more! Too much humbug.

Sleeping on the beach  with your portable,  doesn't get better than that

I agree with Mo, the thought of being able to recover on the beach after a hard night cleaning sounds great!