When I started my financial coaching business, I envisioned a straightforward path. However, the reality was far more chaotic and rewarding. My ambitions and business model evolved drastically from initially aiming for a modest income to leading a team and hosting a podcast for financial coaches!

This is the process of growing a business. Because the industry and the needs of our clients will always change, so too will our businesses. Vision planning is a vital part of that process.

The Importance of Regular Check-Ins

To truly cast a vision for your business, you will need to spend time reflecting. This helps you stay aligned with your evolving goals and desires, both personally and professionally. I’ve learned that just because something worked in the past doesn’t mean it’s the best choice for the future.

My Annual Reflection Process

Every October, I dedicate a couple of days to think deeply about my business. This involves reviewing the past year and planning for the next. Let’s break down this process:

  • Reflect on the Past Year: Look back at what you’ve accomplished. I used to keep a monthly project list to track my progress, which was incredibly inspiring.
  • Evaluate Your Interactions: Think about your clients and team. How do these relationships impact your business and life? Did they energize you or deplete you?
  • Assess Your Feelings: What made you proud? What didn’t feel right? Acknowledge all your feelings about your business, even the uncomfortable ones.
  • Envision the Future: How do you want to feel next year? What changes do you want to see in your business? Define this vision clearly.
  • Articulate Your Vision: Try to succinctly describe your vision for the next year. It’s a powerful exercise that can serve as your motivational pep talk.
  • Identify Necessary Changes: Determine what needs to change to achieve your vision. This could range from minor tweaks to significant pivots.
  • Choose a Focus Word: Select a word that encapsulates your focus or the shift you anticipate for the coming year.

Adapting to Life’s Changes

Life events, like family changes or personal milestones, will influence the role you want your business to play. It’s crucial to adapt and realign your business goals with your personal life.

Taking the First Step

Once you have a vision, ask yourself, “What’s my first step?” You don’t need the whole plan mapped out; just start moving in the right direction.

Communicating with Your Team

Share your vision with your team. Set specific goals and identify key metrics to track, which might change annually based on your new goals.

Repeat and Customize

I repeat this process every year, ensuring my business is adaptable and reflects my current circumstances and aspirations.

Closing Thoughts

This vision-planning process has been invaluable for falling more in love with my business each year. It’s a blend of introspection and strategic planning that can guide you to not just run a business, but to nurture a thriving, fulfilling career. Give it a try, modify it to suit your needs, and see how it transforms your approach to financial coaching!