Are You In Over Your Head in Overhead?
If material items are costing you happiness, it’s time to redefine what success means. This is the first article in a series about redefining success and achieving financial freedom written for EO by Megan Hottman, also known at The Cyclist Lawyer. Megan formed her own law practice in 2010 at age 29. As part of her life’s mission to help lawyers and entrepreneurs become healthier and happier people who take care of themselves and remain fully charged, Megan launched her latest venture, TrialAthlete.com. Check out the other two articles in this series, “Investing In You” and “How Low Can You Go?”
I want to talk to entrepreneurs—and especially you lawyers—about your overhead.
Why is it that most of us lawyers are fixated on driving the car that we believe lawyers should drive? Owning the art that we think lawyers should own? Living in the “right” home that’s located in the “right” neighborhood? Wearing the “right” suits and only the “right” jewelry?
Let me be clear: If that painting or that car brings you pleasure, cool. If you can afford it and you love it, go for it. But if that expensive watch or townhome is putting you in debt and was purchased simply to impress colleagues or clients, then I don’t approve. If that pair of shoes or suit is how you’re presenting and defining success, then it’s time for you to rethink that definition.