Music Mondays - If I Had $1,000,000
If I Had $1,000,000
This song, by the Canadian band Barenaked Ladies, has been playing on a loop in my mind since early December when I decided that it was time to take my business to the next level. You see, for the past 16 months, NextGen Financial is the business that I have been running; however, NextGen is just the bootstrapped version of what I want to build.When I initially came up with my idea for The Financial Gym (my ultimate business goal), I consulted my expert friends and family network and the conclusion of those discussions was to bootstrap my model until I proved that it worked and then I could approach venture capital investors with a proven model to take larger.After a few months, I knew that my model worked; however, I wanted to have enough clients and financial results to make a compelling argument to my future investors, and by early December 2014 I decided I had enough results to share with others. I spent weeks working on and perfecting my formal business plan, and as soon as the new year kicked off, so did my fundraising efforts.
Humbling and Uncomfortable Conversations
I have been in sales for my entire career, so I’m used to having uncomfortable conversations with others where I essentially ask for their money, but I have to tell you, there is something uniquely uncomfortable about asking for money for yourself. I think the best analogy I can give is that it’s a mix of asking your parents for money and subway performing.I think of this song all the time because if I had $1,000,000, then I wouldn’t have to subject myself to the humbling experience of asking for money, I would just fund the business myself. It’s an easy solution, but then at the same time, I know that I’m learning a great deal through this fundraising process that would be lost if I had the money myself. Still, it’s fun to sit back and dream about the what-if’s of having enough money to do whatever you want.So, let’s all take this cold (because it’s probably cold no matter where you are) Monday morning and wonder what-if.
If I Had $1,000,000
- I would fund The Financial Gym so that hundreds and thousands of people could access amazing financial planning services and classes at prices they can afford.
- I would fund the rest of my son’s college education. My husband and I were fortunate enough to have our college educations paid for by our dads and it’s a gift we want to give our son.
- I would set aside some “splurge” money to buy some new clothes at TJMaxx, and I would give hubby the same amount to buy whatever he would like.
- I would invest the rest, about $600,000, and I would use a portion of the earnings each year to help fund an international vacation for the family. I believe that travel is an important educational tool for kids, and I want my son to have that education that I didn’t when I was growing up.
What I Wouldn’t Do With $1,000,000
In the process of writing this post, I honestly sat for about an hour and thought about what I would do with $1,000,000, and it made me laugh to think that three years ago I would have had a completely different list than I had today. Three years ago, similar to this song, I would have had a laundry list of “stuff” that I would spend my money on, and it would have included a car, a new home, a new wardrobe (not from TJMaxx), expensive shoes and purses.I talk about my money shift and how I have evolved over time, and it’s funny to me that now even my imagination is financially responsible. When I think of money, I don’t think of how I’m going to spend it on temporary indulgences, but how I can spend it in a meaningful way. I want money to give comfort and support to my family, but more importantly, I want it to make a positive difference in my life and the lives of others.Gif Source: Giphy