LIfe’s Patterns Give You A Hint For Decision Making
As much as I don’t believe in fate, and believe that by handing over any decision making to a bunch of cards or a clairvoyant is a sign of a weak character who can not make decisions for themselves I strongly believe that we live through a cycle that, if you understand it well enough, can give you a guide to what is the right decision for you.
For instance, take me. I have to keep my perspective right now. I have a cash burn rate that is higher than my income. And it is going to be very much depending on my burn rate as to whether my business succeeds or not.
I have to step back and see that right now, I am in mid life, and that typically, like many mid lifers do, they step out of the office and try to make it independently, setting up their own business and make their own life and be their own boss.
That’s right where I am. That part of that type of cycle of life. That’s me all right.
But I am also aware that so many people fail to succeed with this because running your own business means you have to been sound with all the facets of business.
Your burn rate is very much about how good you are at cost control within your financial department.
Back in the dot com days there was much talk about new businesses setting up offices with old doors on legs for take tops and desks. They key here was to keep the costs low whilst you build the business. My costs are low, but, they could be lower, maybe.
Others see their independence as a sign that they can live a life of the projected riches to come.
There was (at least) one dot com company that employed many, paid them well and let them travel first class until the company came to a halt with investors.
Now as I wrote that I had another company in mind, but I then recalled being in upper first class for a one day trip / meeting across the Atlantic myself, so put me in that example too!!
So I, as others have learnt the hard way, that if you lower your burn rate, you can last longer. The longer you can last, the longer you will out-survive your competitors, and have some cash for really important things.
That pattern of life, that cycle that I am in has warned me to keep things tight so that I can survive just a bit longer before my income exceeds my outgoings.
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Filed under: Career Change
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