https://ilafp.com/wp-content/uploads/2016/09/Sweet-Spot-ilafp-colors.jpg 508 542 jbergner https://ilafp.com/wp-content/uploads/2015/12/ILAP-Logo.png jbergner2015-10-23 05:11:532021-03-23 10:03:14Living in Your Sweet Spot
Somewhere around 2005 or so I was introduced to the image above, The Hedgehog Concept. It comes from the book “Good to Great” by Jim Collins. When I first saw it, and it was explained to me, it did not make sense. The wording was a bit too business oriented and I had trouble with the economic engine term and the best in the world idea! It was just too large for me to wrap by head around. Since my first exposure to this diagram, and the concepts that drive it, I participated in my first class based on the book “If Your Life Were a Business, Would You Invest In It?, John Eckblad and David Kiel, McGraw Hill. The class, gave me to ground work to turn this image into a guiding force in my life. Discover the things you are passionate about, things you are skillful in, things for which you can well compensated. Engage in these activities as frequently as possible (The hedgehog above, or your sweet spot) and at the same time eliminate activities that do not fit!!! It really is quite simple in concept. It can be a bit more complex in execution. (More on that later in my next article) Now, with a bit of revision, this alternative visual makes a bit more sense to me: For me this began as a realization that I love to teach, I love to help others simplify their lives and create more satisfaction in their daily activities. For many people, making these changes involves dealing with some “financial reality”! Often the first thought that comes after the realization of “your sweet spot” is “How on earth can I do that ?!?” “How can I support myself, or my family, if I attempt to make these changes ?” This can be where having the support of a person who has: • Accomplished this himself, • Successfully coached people in this way since 2007, • Practicing Financial Advisor since 1994. could be helpful in guiding you along this path! For me, the gradual shift came as I realized I was most satisfied working with clients who wanted assistance in shaping their lives in this way, and wanted help with the financial planning work to support these changes. As I slowly shifted my practice in this direction:
- I reduced my business size from roughly 500 households (clients) to 100,
- At the same time just about doubled my income.
- I was living in my sweet spot!
- Enjoying the work I was engaged in to the fullest,
- had eliminated or delegate mostly all of the work I did not enjoy or did not need to do,
- and reduced my work week from roughly 70 hours a week to under 30.