(Runtime: 8:00. Read the audio transcript.)
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Self-awareness is important to developing a vision for your career, but the true power lies in pursuing that vision with passion, says Chris Reynolds, co-founder and executive chairman of Investment Planning Counsel.
Speaking on the latest episode of the Soundbites podcast, Reynolds said having a vision is the easy part. To be successful, you also need commitment.
“Everyone has a vision. Everyone says, ‘I want to be rich. I want to take five months off a year. I want to be in better shape.’ Those are just platitudes,” he said. “It’s not really the vision, it’s the tactics that are necessary to make that vision come true.”
This week’s podcast episode looks at the importance of vision as the first of the six “circles of success” described in Reynold’s new book The Six Circle Strategy: The Entrepreneur’s Journey to Wealth and Freedom.
According to Reynolds, once an entrepreneur has identified a vision or a goal, the next step is to be strategic about accomplishing it.
“Focus on the tactic that needs to be done for that vision to become reality. That’s the real secret. That’s where commitment comes in,” he said. “You have to commit to that tactic, not the vision.”
Reynolds quotes from Sun Tzo’s The Art of War, when he says it is important to “Know thyself and know thy enemy.”
“It’s critical to know what you’re good at, but also know what you’re not good at or what you don’t like doing, because in the long run it’s very hard to stick to something that you’re not naturally good at,” he said.
“There’s an expression, ‘Work on your weaknesses.’ I actually believe in the exact opposite. I think you should ignore your weaknesses all together and only work on building your strengths,” he said. “That helps you get over those challenges that are inevitable in your business.”
Reynolds also touched on the importance of time management, developing a healthy mindset toward work, and accepting challenges as a means of defining success.
“Life is full of challenges,” he said. “Challenges are just a way to learn so that eventually you’re not making those mistakes again. That leads to your personal fulfillment.”
As an exercise in self-knowledge, he encourages entrepreneurs to compile three lists:
- What do I love doing and am I naturally good at;
- What can I be the best at, if I truly focused my attention; and
- What skill could drive my economic engine.
“Once you have that, then you say, ‘What is my vision to utilize these things to get to that end result.’ If all those things are not aligned, you can work all day long, you can do whatever you want, but you’ll never achieve your vision,” he said.
Reynolds is the host of the Turning the Page podcast, which explores many of the themes found in his book. You can sign up to “Have a Coffee with Chris” at his website, www.ipcc.ca/turning-the-page-podcast.
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This article is part of the Soundbites program, sponsored by Canada Life. The article was written without sponsor input.