MOBE 21 Steps Strategy Session Preparation Growth Work Worksheet (Coach David Traub) You do not need to send this worksheet in to me, but make sure you have it completed and in front of you before our call after step 4. Section I Current Situation and Towards Goals What is your current cash burn rate? *Cash burn rate = $ you need each month for basic necessities. What is your current lifestyle number? *Amount of $ you need to maintain your current lifestyle When you think about your current financial situation (how much you earn, how much debt you have, how much savings and investments you have, what type of work you are doing and how much, your current hours worked, etc) how do you feel? By when would you like your MOBE Business to generate enough income to cover your current cash burn rate and lifestyle? How will you feel when you hit this monthly target? Please describe your feelings in detail?
Clearly describe exactly what your life will be like when we help you attain your ideal financial situation. This should include (but not limited to) things like: What things will you have in your life? Who will be in your life? Where will you live? Who else in your life will you be able to help How much will you work? and how? How much and where will you travel? What does your family life look like? What charities or issues will you contribute to? How will you enjoy your time? *** Be Specific. For example, don t say I will move to Atlanta go to Realtor.com and look at homes in Atlanta. Find the type you want, the # of bedrooms, the area you want, etc. Don t say you will travel, be specific where will you go first. Why there? Where will you go second? How much do you need to earn each month to pay for this ideal lifestyle? By when would you like to be living this ideal lifestyle? How will it feel when your MOBE business is generating enough to pay for your ideal lifestyle?
Section II Away From ** Warning: If you do this correctly, this exercise should be uncomfortable. If you do not change your life now, and create a business that generates enough income to create freedom in your life and cover your current lifestyle, what will life be like in 1 year? And how will that feel? Who will it impact? What are the consequences? What will your relationships be like? What will you have missed out on? What will you not have? In 3 years, if you have not changed what will that life be like? What about 10 years? If things continue the way they are how will you feel when after those 10 years have passed. Be specific. Put yourself there in your head and really feel it. Once you have looked at the consequences of not changing your life, look at how you have been preventing yourself from achieving that life In what ways have YOU been preventing you from reaching your ideal lifestyle?
What are you tolerating in your life right now that you must eliminate? What do you have in your life right now that you no longer want? What beliefs do you have that you need to eliminate in order to become the person who has the life that you want. What beliefs do you need to adopt to become the person who has the life you want? What habits you need to eliminate? What habits must you create within yourself?
Section III Problem Solving & Startup Budgeting Taking Responsibility What are you doing that might be making the problem worse? Are you waiting on someone else to step in and fix things for you? Do you NEED to be waiting? Or is there something you can be doing NOW. Almost every business owner has been challenged by raising the proper capital for their business. Everyone from Steve Jobs, Bill Gates and Jack Ma (It took him over 20 friends to loan him small amounts go get started. Less than 15 years later he was worth over $40 Billion). Every business will have some startup expenses, ongoing operating expenses and marketing and advertising, and in most businesses Money Buys Speed. Meaning that you can accomplish bigger goals faster as you invest more capital in yourself. How much money do you feel you can invest into yourself to make personal and financial freedom a reality for you? If you knew you would be successful in your business but it will require double that amount. How could you raise the additional funds? Some potential ideas are below: Where would you raise the funds? How much do you have on hand? How much could you invest in yourself from retirement accounts instead of letting the stock market decide your value? Could you borrow it from someone you know? (or several people)? Could you get a bank loan? Do you know what your credit score is? What do you own that you could sell to raise funds? What skills do you have that you could use to do extra work to raise capital? Could you raise some funds by driving for Uber or Lyft? What about doing odd jobs for TaskRabbit or InstaCart? How about online tasks through Upwork, or Fivver?