Posts Tagged ‘Wealth Dynamics’
Are you full of great ideas, but lack a system for managing them all? Many smart, successful people are extremely creative – virtual idea machines. But with all this creativity there can be a problem and it’s called overwhelm.
Years ago, when I was a financial planner, I remember being told that I had enough ideas for our entire market group. Thank goodness I had a coach that helped keep me focused and a system that included a team for making sure I did not get distracted.
Without a system, many entrepreneurs can get bogged down with multitasking, working on multiple projects and even wearing too many hats in the business. If you are running into the situation where you are feeling overwhelmed, not earning what you should be, or losing confidence in yourself, it may be the perfect time to access your situation and simplify. Here are three steps you can take immediately to begin this process:
Take an assessment to identify your strengths:
One of the first things I do with my clients is to identify their unique abilities, strengths and passions. You can take a formal assessment like the Kolbe A, or the Wealth Dynamics assessments. They are both excellent options. Another option is to simply a draw line down the paper and list all the things you are great at, love doing and get paid well for on one side of the page and then all the things that you dislike doing, that drain your energy and that you don’t get paid well for on the other side.
Focus on your strengths and delegate the rest:
This sounds easy, but it’s very hard for many people. It could simply be a matter of control or not wanting to spend money on things that you can do yourself. The secret here is to see how much is it costing you to continue doing everything yourself. Add up those hours and then see how much it would cost for someone else to this work, and then identify what you could do with that extra time. The key is the 80/20 rule: Spend 80% of your time on the things you love and are great at, and only 20% on the rest.
Learn to Prioritize:
Every time you say yes to a new project without completing the one in front of you, you delay not only the outcome of the first project, but you begin to feel even more overwhelmed, and nothing gets done quickly. The one word you will want to learn and keep using to keep you focused and on-task is the word “NO.” Who can you say “no” to or what project or obligation can you put on pause until you finish other things?
If you have been struggling with these things for years, look to get help with them. There are people who love doing the things that may drain your energy. There are people like my partner, Michelle, who are just wired to know and understand systems. It’s effortless to them. The key to my own success has been to partner with what I call the “Back Stage” experts, so I can do the “Front Stage” work. So identify if you are a Back Stage person or Front Stage person, and then get help so you can focus on your strengths.
If you want some help with this, feel free to schedule a complimentary consultation with me at www.talkwithkatana.com I’ll be happy to get you started with the big picture, and then if you need help creating a a more efficient work environment, I’d suggest having a session with Michelle. You can reach her at Michelle@smartwomenscoaching.com
Just know you don’t have to do this alone!
Today is the last of my 3 part series on Creating Your Perfect Life with my Perfect Life Time System. In the last two videos I shared with you the three types of days in this system:
- Increase your productivity and earning potential on your Power Days.
- Improve your level of energy, focus and clarity by cleaning up messes and getting very organized on your Prep Days.
- Make more time for yourself, your friends and your family by scheduling and enjoying wonderful Perfect Days!
Power Days are your money days. But let’s take a moment to review…
- In my prior videos I asked you to begin to plan your Perfect Calendar for the entire year. By now, you should have already booked all your Perfect Days into your calendar. Be sure you have booked all your vacations, time with family and friends, dates with significant other and time just for you to rest. If you have not done this – do it now – for the full year!
- Next, be sure you have blocked out all your Prep Days for the full year. These are the days you will use to get organized so you can have fabulous Perfect Days and Power Days. Great Job!
Bring out a piece of paper and create a Big “T” and on the left side, write all the things that:
- bring you joy and that you are passionate at
- are effortless especially if they also generate revenue for you
- you would do for free if money were not an issue
- you lose track of time when you do them
- you are the best in your field and bring you confidence
On the right side write out all the things that:
- drain your energy and deplete your confidence
- put you into resistance or cause you to procrastinate
- don’t generate revenue or should be done by someone other than yourself
- you are tolerating no longer!
Now look at this list and decide how can you focus 80% of your time and energy on the items on the left, while eliminating, outsourcing or even partnering with someone with those items on the right.
Your goal is to leverage the 80/20 Rule by spending 80% of your time on the things you love, are great at and bring you the most joy…and 20% of your time on those items on the right side. Use your Prep Days for the right side of “T” and watch what begins to happen with your energy and your income.
Identifying your unique talents, passions, abilities and then learning to leverage them and delegate/outsource everything else is an art…something that is crucial for you to learn and implement as soon as possible.
Exercise 2: Add your Power Days to your year long Perfect Life Calendar
- Have you already booked all your Perfect Days and Power Days for the full year? This is one of the most powerful things you can do to start out your years with a bang. By scheduleing your Perfect Days first, you will stay rejuvenated (all your dates with special people including your self care and vacations), then your Prep Days to clean up messes and get organized for wonderful Perfect Days and Power Days.
- Do the Math: Now what you have left is your Power Days. Divide these number of days by what you plan on earning this year and you will see just how much your time is worth per day. Divide that by your billable hours, and you will see what you are worth hourly.
- Now ask yourself if you still want to be doing $10 adn $15/hour work? No!
There are two assessment that I recommend and use with my clients and staff. They each have a fee associated with them and are well worth the investment.
- If you invest in either one of these assessments and then send me your results at firstname.lastname@example.org, I will invest 30 minutes of my time into a Complimentary Strategy Coaching Session with you – a $150 value. Neither of these are personality profiles. They are unique and that’s why I use them. Check them out and see which is best for you:
Kolbe A- This is such a powerful assessment because it will help you identify what you will and will not do period. Once you see this begin to follow the path of least resistance while building your confidence you will begin to see results so much quicker. This assessment will help you find out where to focus and where to delegate/outsource. Great for team building…do it on your entire team. There is also a great video tutorial to take you through your results:
Wealth Dynamics – There are 8 primary ways we make money and this assessment show us the exact strategy we need to follow to build wealth. Successful entrepreneurs know where to focus their energy, time and money to build wealth, learn how this process works and find out your wealth profile:
I hope these three tools help you create your perfect life so you can live with more purpose, passion AND prosperity. My mission is helping people make a difference in the world through their dreams, their work and their legacies!
With joy and gratitude,
Katana Abbott, CFP, CSA
Founder and Midlife Millionaire Mentor