190: The Power of Rewards

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Hey hey! Welcome to episode 190 of Life on Fire. As an entrepreneur you know the meaning of hard work - but are you rewarding yourself for that hard work? Most entrepreneurs are not, and until recently I didn’t either.

On today’s show I’ll be talking about my recent reward: a Dodge Viper, and a recent Life on Fire list activity Megan and I did that was a memory we’ll cherish for the rest of our lives. When you watch this episode you’ll understand why I’m encouraging you to make rewards, hobbies and having fun a bigger priority in your life and why doing so is the fuel to refill your entrepreneurial tank. It’s all part of the fun of episode 190 of Life on Fire!

In this episode you’ll hear:

  • Buying a Dodge Viper was the reward for achieving what goal in my business?
  • Why having a Life on Fire list isn’t the same as a bucket list.
  • What’s the best way to refuel your entrepreneurial tank?
  • When do you grow the most?
  • And so much more!

Recently I had set a goal for the Life on Fire business of reaching $1 million in revenue. And I created the reward of buying a Dodge Viper when we hit that mark. Happily we reached it recently and my wife and I are now the proud owners of a Dodge Viper!

The reason I’m sharing that experience with you on today’s show is to highlight the importance of setting goals and rewarding yourself for achieving them. How often have you set a goal, or a milestone and then reached it - only to move on to the next thing? I’m sure you’ve done it, I certainly have. But I’ve learned it is important to refuel your own tank by rewarding yourself for achieving your goals.

And it’s equally important to create a life on fire list, it’s like a bucket list but not as morbid. With a life on fire list you aren’t checking things off your list before you die, you are checking things off your list as a part of embracing your life!

I’ll give you an example. My wife Megan and I recently took the Viper out to the race track for a weekend, it’s been on our life on fire list to do it.

We prepared for it - Megan practiced driving stick shift in a parking lot ahead of time - and then we went for it. We had a crazy first day on the track and had a blast. Even when we didn’t have a driving instructor with us like we thought we would, we still had fun. We raced on the regular track and also did some autocross on the second day. It was a blast!

In fact it was so much fun we think we’ve found a new hobby! We both work so hard but have made the commitment to take time to enjoy our lives fully. And that's why we have a life on fire list where we write down all the great things we want to do in our lifetimes.

A Dodge Viper and racing made the list because I have wanted a Dodge Viper since I was a child, and I’ve dreamt of being on a race track since I was a kid too! So I added both to my Life on Fire list, and set some goals to make those rewards from my list happen in.

Often it takes time to accumulate the cash to do things on your list, it did for us, so keep your rewards in your vision and go after your goals. When you work really hard you have to reward yourself, otherwise you feel like you are running on E. The reward is how you fill yourself up.

Now when we look at our Dodge Viper we can be so proud; there was so much blood sweat and tears that went into building LOF to get to the point of earning this car. And to have a weekend like this - our first weekend of racing - we will never forget this! We will remember it forever. Creating memories that will last a lifetime is what a life on fire list is all about.

So do the things that push you, do the things that scare you and get out of our comfort zone, that's what a life on fire is all about. When you're doing something outside of your comfort zone and doing something that scares you that's when growth happens - and that’s when you’re living a life on fire.

Check out all of that and more on episode 190 of Life on Fire.

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