What is it you truly want out of your business? What is your ultimate purpose? What is truly important to you, and how are going about achieving those goals? In our industry, it’s very easy to get caught up in the race to grow our businesses. Our goals are often built around monetary success rather than lifestyle goals.

Several years ago I had a coach tell me something very revealing. He said, “Jim, don’t let someone else’s success become your goal.” You see, we look at what other advisors and agents are doing, and our nature is to think, “If he can do that, I know I can do that.” So, if we are asset gatherers, and we see someone bringing in $40 million a year in new assets, we identify that as our goal. Or, we see someone write $1 million in target premium life insurance, and we decide to build our business plan around achieving that $1 million number.

But that’s not what this is all about. Whenever you are defining your goals for your practice, instead of starting with your monetary goals, begin with your life goals. What do you truly want out of life, and how is the business going to serve you in the pursuit of those ideals?

For me, I have three things that define what I’m all about. Number one is my faith. Number two is my family, most importantly my wife and my two daughters. And number three is all of those that I serve, including my friends, clients, colleagues and employees. As I define what I want my business to become, it simply must begin and end with these priorities.

How big do you want to become?

It’s only natural to want to achieve the same success as another advisor. But one thing I learned early in my career has rung very true as I have built my practice, and it’s simply this: How big you want to become can oftentimes be defined by how much you’re willing to give up to get there. I want to build a bigger and better practice, but I only wish to do it if I can maintain the work/ life balance that is so important to me.

I don’t want to give up my priorities just to become bigger. I have always felt that I already have true wealth. After all, I have deep and meaningful relationships with the people that I love. What else do I really need?

J.D. Rockefeller was once asked, “How much money is enough?” His response? “A little bit more.” When we define our success monetarily, that’s the trap we can fall into. Instead, focus on the most meaningful things in your life. Then, use your business as a platform to only enhance those things that are most important to you.

You’ll not only live a richer life yourself, but you’ll have a tremendous impact on all of those that you serve.

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