[Summer Remix] 98: Leaving Behind the “Punch Clock” Mindset

No one uses an actual punch clock at their job anymore, right? However, the concept of a punch clock — punching in to start a shift and punching out when it ends — is ingrained in many of us, even as business owners who write our own checks and make our own schedules. But it doesn’t have to stay that way! On this episode of Wealth By Design, we talk about how you can start changing your mindset and your life right now.

WHAT YOU’LL LEARN

• • Why the punch clock is the enemy  

  • The irony of making your own hours as a business owner 

  • Living in the age of distraction 

  • Why so many professionals start their own business

  • How financial planning can help you defeat the punch clock

  • The hustle and grind of being a business owner

  • What “revivement” is

  • How your passions can guide your work

  • The important business strategy people aren’t talking about

  • How to start building a safety net for yourself

  • The importance of having a financial life plan

  • What a “BULB” is — in case you haven’t been following us for long

  • How to reach BULB status

THE “CLOCK IN, CLOCK OUT” MINDSET

If you started your own business, we bet one of your goals was to get away from the punch clock. Maybe the one you saw your parents dealing with. You wanted more flexibility and control over the hours you work. But it’s not that easy. And your flexible work schedule doesn’t necessarily mean you’re free of the metaphorical punch clock.

Here’s why: There’s still a direct correlation into the hours you put in to the money you get back. Hours in, money out. Plus, you’re likely putting in more than the typical 40 hours a week, even though you’re the boss. 

YOUR TIME IS PRECIOUS, SO MAKE THE MOST OF IT

This is a problem because, as we talk about in this week’s episode, our time is more important than ever in today’s age. Everything and everyone is competing for just a few seconds of your time. Social media, networking sites, apps, streaming services: everyone is fighting for your attention. Your time is precious, and that’s why you need a plan to make the most of it.

As a business owner, you probably feel intense pressure to “be a boss” or “put in the work” or “rise and grind.” We get it, and we’ve been there. But we’re here to shout a big fat “No thanks” at that life. 

We’re team anti-hustle and grind. We want you to stop and smell the roses. Enjoy your life while you can. You want to be able to step away from business, clear your mind, and delegate to others… without feeling like everything will fall apart without you there. You want to get to a place where you don’t have to put in all the hours to receive an income. You want to work not because you have to, but because you want to, right?

Of course you do… but how do you get there?

ENVISION YOUR LIFE IF MONEY WASN’T AN ISSUE

The first exercise we talk you through in the episode is a little soul-searching. More specifically, we talk about “revivement.” It’s like retirement, but instead of waiting until you’re no longer working to pursue your life’s mission, you do it right now. If you didn’t have your current career, what would you really want to do?

If you’re already doing what you want to be doing, great. You’re one step ahead. But you can dive a little deeper. Is it the actual work that’s your passion? Going to the office, sitting at your computer, having meetings… is that your goal? Or is it the effect of the work that you’re doing that’s your true passion?

Once you start thinking about this, you can begin taking steps to build the life you want and the kind of lega