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Success almost never comes overnight. It’s much like a frog boiling. Slowly, the temperature changes and as it does, the frog becomes accustomed. He adapts—and to his ultimate demise.
You don’t notice success as it is happening to you. Success is also a subjective thing and not a place of arrival. Because success comes slowly, we adapt to it. We allow the way we live to match our income as we prosper. This is called lifestyle creep.
Lifestyle creep is allowing your income to determine your behavior and your habits. This is the default. Without actively guarding your lifestyle and protecting yourself from lifestyle creep, you are welcoming it.
This is how you have people making $100,000, $200,000, and even $500,000 a year still living month-to-month or operate with debt. How can this be? It’s because it’s a mindset.
That is the danger of lifestyle creep and that is the danger of the lack of planning. If you’re not planning for success, you’re setting yourself up for failure.
What does planning for success look like? It’s having purposeful strategies for how you will steward your resources when they grow beyond the point you’re currently at.
In this episode we discuss the balance between investing back in your business and how much you should personally be saving.
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