612: Lee LeFever - Build a Business That is 'Big Enough' for You

Aug 17, 2020

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My biggest competition has always been myself. Additionally, I'm a spender. Or, at least I used to be, and I've put a lot of thought into my spending habits and what that means for my lifestyle and business. Entrepreneurs often feel pressure to have as big a business as possible because of the competition or the false notion that a business isn't "real" unless it's a certain size. I battle with this quite a bit.

My business as a photographer was much bigger than my current business. And despite being very happy with both my professional and personal life, I sometimes feel driven to have a bigger business than I do. Many of us who are self-employed are constantly trying to figure out: when it comes to our happiness, what is 'big enough?' If your business doesn't make you happy, is it worth it? Better yet, how can you optimize your business to live the life you want but also keeps you happy in ways other than money?

To dive deeper into this I've brought on the co-founder of Common Craft and author of The Art of Explanation and Big Enough, Lee LeFever. Since 2007, Common Craft has won numerous awards; worked with respected brands like LEGO, Google, Intel, and Ford; and created original explainer videos that have earned over 50 million views. Today, Common Craft produces educational guides, ready-made videos, and digital visuals that are used by educators in over fifty countries. Lee and his partner, Sachi, are Common Craft's only employees and work from their home off the coast of Washington State.

Learn how to manage an abundance that is right for you, by downloading this episode now.

THE WARRIOR OF SATISFACTION

"People are seeing that 'the good life' comes with other factors." - Lee LeFever

Highlights -

- Choice is power.
- The "good life" can come with being rich in ways other than money.
- If you're going to have a business that's 'big enough' you have to come to terms with the money that is just enough as well.
- Having your financial house in order gives you the power to choose what size business is enough.
- Gamifying your spending and saving can help put it in perspective.
- Studies show that making around $80K/year is where most feel satisfied with their lives whereas making over $200K/year often provides less satisfaction.
- Deciding on constraints up front can drive you to end with the business you truly want.
- Having a Lifestyle business doesn't mean it's not scalable.
- Self-employment brings more personal development than you might expect.

Guest Contact -

Mentions - How to Live a Good Life by Jonathan Fields Contact Jeffrey -

Resources -

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Music by Jawn