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The Weekly Tone

We've all heard the phrase "try before you buy" at some point in our lives.

It's usually uttered in relation to clothes, electronics, and other moderately-important purchases that we might not be certain about.

But, what about our goals and ambitions? Are we sure that what we want is actually what we want?

We spend more time trying on sneakers than the lifestyle we're after.

For entrepreneurs (or would-be entrepreneurs), this line of questioning is especially important. We are often so focused on achieving something that we forget to take a step back and ask ourselves if it's something that we truly want.

Take the common goal of having a successful business or side-hustle. Most entrepreneurs will set out to build a business with the expectation that it will be wildly successful and rewarding. But, often times, they find that the work is not what they want or had expected. They find themselves overwhelmed with tasks that are boring or tedious, or discover that they don't have the resources to truly make their business successful. They built the wrong damn thing.

The key to avoiding this type of situation is to "rent" your goals before you commit to them. This means taking the time to understand exactly what you are getting into before you make a decision. Do research, talk to people who have achieved the same goal, and ask yourself if it is something that you are passionate about and willing to commit to for the long haul.

Renting your goals can also help you save gigantic sums of money.

You can use your resources to test the waters and see if it is something you really want to pursue. This could include taking a course on the topic, reading books or articles, attending a workshop, test driving the supercar (or renting one), or even job shadowing someone who is doing the same thing as you.

Imagine your goal is a fancy home in a new city - why not rent a similar one for the weekend? And see if it's all that it's cracked up to be. You may be wildly surprised with what you find.

I do this all the time...

In fact, renting your goals also allows you to course-correct if needed without having to start from scratch. If you realize that the goal you set out to achieve is no longer something you are interested in, you can easily pivot without having wasted time and money on something that isn't right for you.

It's important to remember that striving for something you actually want is key to achieving success. Renting your goals before committing can be a great way to make sure you are making the right decision and putting in the effort needed to reach your goal.

This week, I'm taking meetings in Miami, Fl.

R/RR

Rich: Make sure they all know you're smart.

Really Rich: Make sure they know you don't have all the answers.

This Week On The Really Rich Podcast

In episode 16 of The Really Rich Podcast, I sit down with Founder, CEO, Venture Capitalist, and Oxford grad; Kendrick Nguyen, of Republic. Kendrick iterated his way to success, starting out as an attorney, moving into operations, then landing in venture all before starting Republic. Hear Kendrick's perspective on education, building community, timing in business, and our favorite topic on this channel... AI.

Learn more about Republic here.

Podcast available on YouTube, Spotify, and Apple Podcasts.

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3. The Really Rich Podcast (Free) - a weekly deep dive into business, finance, and wealth mindset.