Experiments With Hope - Episode 61: Working from Home

NOTE: This episode was recorded on May 5th, 2019 and moved from YouTube on January 23rd, 2021.Show more

Working from home long term requires a totally different approach than working from home temporarily. First, your lifestyle goals should drive your income goals AND the kind of work you choose to do. If you get this backwards, you’ll burnout in the first few years and end up back at the office working for someone else.

I’ve talked about this first point in past podcasts about setting smart income goals. First, write down all the things you want to own and to do. Then, put a dollar amount on each of these goals, and add that amount up. You should have two numbers when you’re done. The first number will be the total amount of money you need for all the one-time purchases you want to make: house, car etc. The second number will be the monthly and/or yearly amount you’ll need in order to do all the things you want to do on a regular basis.

Every client I’ve done this with has been surprised at how low the number was. You will be too. Second, you should pick a business that aligns with your obsessions. I talk to a lot of people who love the idea of working from home, controlling their schedule, and being location independent. These are the advantages of writing for a living. But, NONE of them are a good reason to become a writer yourself. You have to love the actual craft of writing for a living. Otherwise, you will burn out after a few years…at best.

So, if you want to work from home long term, pick a job that aligns with your obsessions, you’ll have plenty of enthusiasm and motivation to work hard at your business. Set an income goal that supports this lifestyle, and find a business that leverages your natural motivations. I did this during the 2018 financial crisis, and now, more than a decade later, my writing business is sustaining my wife and me through the 2020 Coronavirus crisis.

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