In April’s PowerPods Program we covered Business Planning. As part of a very animated group session, we looked at the difference between planning for a lifestyle vs an equity type business model. The difference of approach will be mind-fuel for another blog post. For now the focus is to take a higher view of how your business suits your ‘jar of life’. Plan your business to suit your priorities for a fulfilled and happy life.
Planning a lifestyle business is founded in the knowledge of your priorities. Your priorities are rooted in your personal core values. As guiding principles they help determine what you can say ‘no’ to with good conscience. Here is a story that is often shared with undergraduates to help them make more balanced work/life choices. As an entrepreneur this story rings especially true:
A professor stood before his philosophy class and had some items in front of him.
When the class began, wordlessly, he picked up a very large and empty mayonnaise jar and started to fill it with golf balls. He then asked the students if the jar was full. They agreed that it was.
The professor then picked up a box of pebbles and poured it into the jar. He shook the jar lightly. The pebbles rolled into the open areas between the golf balls. He then asked the students again if the jar was full. They agreed it was.
The professor next picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else. He asked once more if the jar was full. The students responded with a unanimous ‘yes.’
The professor then produced two cups of coffee from under the table and poured the entire contents into the jar, effectively filling the empty space between the sand. The students laughed.
‘Now,’ said the professor, as the laughter subsided, ‘I want you to recognize that this jar represents your life.
- The golf balls are the important things – family, children, health, friends and passions – things that if everything else was lost and only they remained, your life would still be full.
- The pebbles are the things that matter like your job, house, and car.
- The sand is everything else – The small stuff.’
If you put the sand into the jar first,’ he continued,’ there is no room for the pebbles or the golf balls. The same goes for life.
If you spend all your time and energy on the small stuff, you will never have room for the things that matter to you most.’So….
Pay attention to the things that are critical to your happiness.
Play with your children.
Take time to get medical checkups.
Have date night with your partner.
There will always be time to clean the house and mow the law.Take care of the golf balls first — The things that really matter.
Set your priorities. The rest is just sand.’
One of the students raised her hand and inquired what the coffee represented. The professor smiled. ‘I’m glad you asked. It just goes to show that no matter how full your life may seem, there’s always room for a couple of cups of coffee with a dear friend.’
May this story help set the foundation for your business planning. Identify, name and label the big stuff. Then make sure you don’t let pebbles and sand get in the way of the things that truly matter. If you plan it well then your business will mold itself around the big stuff and leave room for a coffee or two. That’s what marks the true success of being a lifestyle entrepreneur.
