How to pivot your life and stay financially fit!
May 16, 2024Today, I want to dive into something we all encounter at some point: recognising when it's time for a change. It's about that moment when you feel a shift within, a stirring, a need for something new, something different. It's about pivoting your life towards the next phase of your great adventure. But let's be real, making such a leap often comes with the big question: How do I finance this change?
For me, the financial aspect is crucial. When we have a solid grip on our finances, knowing where our money is, where it's going, and how much we need, it not only makes us feel safe and secure but also gives us the freedom to take bold risks. Because let's face it, having a safety net empowers us to explore new horizons.
Many years ago, I had a fantastic business coach, let's call him Dobbo. He was all about time management and often categorized our work modes into distraction, obligation, or genius. This concept resonates deeply with Gay Hendricks' idea of operating in our zones of genius or excellence.
So, what's the difference between the zones of excellence and obligation? Well, in our zone of excellence, we're good at what we do, maybe even extraordinary. We're successful, but something's missing — passion. It's the zone we operate in because we have to, not because we love it. It's where we're good, but not necessarily fulfilled.
But then there's that zone of genius, where passion and proficiency intersect. It's where we're not just good; we're inspired. We're in flow. And stepping into this zone often requires a leap of faith.
I recently witnessed a friend make this leap. She had a thriving business, but it no longer satisfied her. So, she embarked on a journey into coaching, despite the uncertainties. She invested time, energy, and resources into mastering her craft, even though it meant starting from scratch. And seeing her transition has been truly inspiring.
But how do we know when it's time for us to make a change? For me, it's a feeling, a gut instinct. It's those repetitive patterns, the avoidance of important tasks, the loss of joy in what we do. It's the accumulation of too many bad days in a row.
So, let's say you've recognized this need for change. What next? You start by figuring out what you want to do. What's your passion? What's that thing that lights you up? It might not be crystal clear at first, but exploring and journaling can help bring clarity.
Once you've identified your direction, it's time to think about the financial side. How much money do you need? What are your fixed and variable costs? How much do you need to sustain your lifestyle?
Let's break it down. Say you need $10,000 a month to cover your business and personal expenses. Your business costs are $7,600 a month, and you want to pay yourself $5,000. This means you need to sell 10 units of your product, priced at $1,000 each, just to cover your business expenses and pay yourself.
But the journey doesn't end here. Now you need to plan. Plan for the unexpected, plan for your investments in yourself, and plan for learning from your mistakes. It's about being prepared for the challenges that come with change.
And remember, success is personal. It's not just about making money; it's about fulfillment, impact, and growth. It's about aligning your life and finances with your passion and purpose.
So, if you find yourself in that zone of obligation, craving something more, know that change is possible. Take the time to explore your passions, understand your finances, and embrace the journey ahead. And always remember, we're here to support you every step of the way.
As a gift to kickstart your journey, we're offering a free copy of our e-book, "The Happy Business Journey," filled with practical tips and insights to help you navigate the world of business. And don't forget to check out our worksheet to help you crunch those numbers and get clear on your financial goals.
Thank you for joining me on this adventure. Here's to embracing change and creating a life and business you love. Until next time, keep dreaming, keep growing, and keep pivoting.