Life after Financial Loss

The Power of a Pivot

It goes without saying that we all had big plans as to what this year would bring. We walked into 2020 with certainty that this would be our year, but then a global pandemic emerged, followed by unprecedented job losses, pay cuts, businesses shrinking or shutting down, children at home, and families trying to re-learn how to live together. We’ve all been forced into an extended NEW NORMAL.

Although many of this year’s events were unplanned, it is important to always look for the lesson or blessing in the unknown. Here’s the power of pivoting—which is critical if you want to elevate your financial well-being after a financial loss.

While many may see pivoting or exploring another avenue toward your goals as scary, it has honestly been the only thing that kept my business afloat throughout this pandemic.

When I decided to pivot, I realized I took the following actions:

• Pause
• Inspect
• Visualize
• Organize
• Tackle

1. Pause

In the world of business, we can easily convince ourselves that ACTIVITY equals PRODUCTIVITY and hence INCOME—but is this really true?

When adversity hits and things depart from the ideal scene, the natural reaction is to panic and adopt an “any-option” mentality out of desperation.

When your back is against the wall, maybe the best thing you can do is PAUSE. Take a step back, sit still, collect your thoughts, and allow yourself to brainstorm your next actions.

People tend to run away from pauses because:

• The rat-race and “chasing money” mentality is deeply rooted
• It feels like losing control
• It makes us feel vulnerable
• The belief that “no work = no income” keeps us running just to feel we’re doing something

2. Inspect

Inspect your current situation and determine the best way to solve problems under the present circumstances.

Money is made by offering an IDEAL solution to a problem for your IDEAL client.

There are three levels of ideal-client research we teach:

• Level 1: What you believe about them to be true
• Level 2: What they’re actually saying
• Level 3: Who they are listening to

Get inside the heads of your ideal clients. Write down what you already know, identify the true problem (not just symptoms), and craft effective solutions instead of quick fixes that keep you stuck in the money-chase rat race.

3. Visualize

This is where the true pivot happens—seeing beyond the circumstances right in front of you. Exploring unknown avenues or new ways of doing things can be frightening, but you never know what’s possible until you try. Document everything in a Money Journal, write down ideas, read widely, and understand the dynamics in your industry.

4. Organize

Organize your ideas and action plans so you set yourself up for long-term success. Just because something feels temporary doesn’t mean you should treat it as temporary. Plan as if it’s permanent from day one.

5. Tackle

Tackle your plans head-on and don’t look back. Embrace small baby steps. A small pivot can be the doorway to your desired dream.

Our plans might have changed, but our purpose didn’t. We just have to change the plan.

Deliver the same value, just using the formats and resources available to you right now.

Operate with the understanding that things will come and go, but what’s meant for you will stay.

Above all, develop a spirit of gratitude.