Starting and growing a business can be challenging, especially if you're operating on a tight budget. However, there are resources available to entrepreneurs that can help them succeed. One of these resources is the Small Business Administration (SBA).
In this blog, we'll explore how you can use the SBA to your advantage and take your business to the next level.
The Small Business Administration (SBA) is a government agency that strives to boost the economy by providing support to the numerous small business owners who pursue their entrepreneurial aspirations.
The SBA aims to prompt change and encourage progress by equipping small businesses with the resources necessary to launch, prosper, expand, or recuperate. Their programs include government contracting, granting access to capital, training for entrepreneurs, and policy advocacy for small businesses.
Government Contracting
If a business provides a service that the government deems valuable, the SBA can assist in bidding for and obtaining a contract to supply that service. The government has a target of allocating 23% of prime contracting funds to small businesses, which equates to approximately $100 billion annually. Even a small percentage of that amount can significantly aid numerous small businesses in their survival. Thus, rendering this opportunity immensely beneficial for all qualifying companies.
Access to Capital
Small businesses often require financial assistance, this is where SBA comes in. SBA links businesses to various funding options, ranging from microtransactions to venture capital. Due to the streamlined process, numerous small businesses initially opt to utilize the SBA as their primary financial resource and only seek external capital once they have gained a foothold.
Training for Entrepreneurs
The SBA also provides guidance for entrepreneurs, with a strong focus on training, education, and technical support for startup businesses. Most of the development programs spearheaded by SBA are free of cost, either online or in-person at any of their numerous training facilities. Although a few training sessions may involve a small fee, the cost is intentionally kept affordable, even for fledgling businesses.
Advocacy for Small Businesses
Although large corporations typically hold significant regulatory influence, small businesses are not entirely defenseless. The SBA is frequently summoned to testify before Congress regarding how proposed legislation may impact small businesses. Furthermore, it conducts extensive independent research that small businesses can leverage to better understand their current operating environment and navigate the obstacles they encounter.
Personal Background Statement and Professional Resume
As part of the initial SBA loan requirements, a written statement outlining your background is typically requested by most SBA lenders. This statement should contain verifiable information such as your previous addresses, names utilized, criminal history, and educational background.
In addition, when applying for an SBA loan, you will also have to submit a professional resume. This document serves as an essential tool for lenders to gauge your industry knowledge and business experience.
Your resume provides a valuable opportunity to demonstrate your qualifications to operate a small business and showcase how you plan to utilize your SBA loan effectively. This is especially critical if your business is in its beginning stages. That is why it is important to be detailed when it comes to crafting this document.
Personal and Business Credit Report & Score
Due to the limited borrowing history of small businesses, the SBA heavily relies on the business owner’s personal credit reports and scores to assess their borrowing and debt repayment tendencies.
Nonetheless, if your business has been operational for a substantial period, your lender may ask for a business credit report. As with your personal credit report, it is advisable to procure these documents for yourself before seeking a loan. This ensures that all information is precise and you are adequately prepared for any information your lender may encounter.
Personal and Business Tax Returns
Like your credit score, the SBA will scrutinize your tax returns to determine your fiscal responsibility when obtaining an SBA loan. Therefore, be ready to present your personal tax returns from the last two years. If you have not filed your taxes on time, you must furnish evidence of an extension and provide a written explanation for the delay.
In addition to your personal tax returns, the SBA lender will examine your business income tax returns and bank statements from the preceding two fiscal years. Any discrepancies observed in these documents could be considered a warning sign.
Business Plan
As part of the SBA loan application process, you will be required to submit a business plan outlining your company's future projections. The plan should contain both financial predictions, such as future cash flow, sales, and revenue, and the qualitative objectives of your business, such as mission, vision, core values, and company goals.
This document serves as an opportunity for you to persuade the lender in your own words that your business is worth investing in; therefore, it is crucial to devote adequate time and effort to craft a well-structured and convincing business plan.
Profit & Loss Statements
An income statement, also known as a Profit and Loss statement or P&L, provides an overview of your business's revenues and expenses over a given period. SBA lenders typically require a year-to-date P&L updated within the last 60 days, as well as full P&L statements for the past two fiscal years. Lenders will review your P&L to ensure that your business has a consistent cash flow that can handle unexpected expenses and meet your loan repayment obligations.
Collateral
In the event that the SBA lender views your loan as high risk, they may require significant collateral. This can either be any valuable assets that you are willing to put at risk in the event that you are unable to meet your SBA loan obligations. Examples of collateral may include your personal residence, other real estate properties, vehicles, or any significant equipment.
The Small Business Administration (SBA) can be a valuable resource for entrepreneurs and small business owners looking to grow and expand their businesses. By understanding what SBA can do for you and their application process, you can increase your chances of getting funding for your small business. With the SBA's assistance, business owners can take advantage of opportunities to grow their businesses, create jobs, and contribute to the economy.
So if you're a small business owner looking to take your business to the next level, consider exploring the resources available through the SBA. Also, you can listen to my podcast episode with Deb Curtis, an SBA expert, to learn more about how you can leverage the SBA to grow your business.
For more than two millennia, we have been given the responsibility of understanding who Jesus is, despite the numerous rumors and speculations about His true identity. Traditionally, religion and the church have relied on the Bible to educate us about Jesus. However, what if I told you that there is a simpler way to know Jesus?
In a recent episode of the Awakened Life Podcast, I spoke with Dennis Deardoff, a pastor and the author of the book "Knowing Jesus: Discovering How Jesus Lives as Me." During our conversation, he explained how effortless it can be to know Jesus truly.
Explore this article to uncover Dennis Deardoff's fresh approach to comprehending the essence of Jesus.
In the beginning, I felt impassioned and burdened by the Lord to know Him more. That passion opened up to me a new paradigm of understanding my relationship with Him and God. I came to realize that I didn't need to seek a personal relationship with Jesus I was already living as Jesus, as God says in Gal. 2:20. I don't try or choose to live as Christ, God says that my life is Christ, and I have no other life. I now live in union with Him and enjoy a deep level of connection that is profound and mysterious.
It may be hard to grasp at first. One of the other verses that also spoke to me of this truth is Colossians 1:27, which says, “For God wanted them to know that the riches and glory of Christ are for you, Gentiles, too. And this is the secret: Christ lives in you. This gives you assurance of sharing his glory.”
I read that verse hundreds of times, and all of a sudden, it hit me. Whoa! He doesn’t live just in a part of me. He actually lives in me as His body. I am His body. I am His manifestation to the world. That took a major shift in my spiritual paradigm. And the more I searched and opened that up, the more the reality became clearer. It's like switching your lenses; you're looking at the same thing but with different lenses. And now you're seeing things that you didn't see before.
No. He is one and the same. Jesus is revealed in my body. I am His vessel. We all are. However, as much as it is our body, it actually belongs to Christ. And this is how Christ revealed His body to the world.
But can we say that we are Christ? No. We are just His vessel. He is light, and we are just His instrument.
No. It is God who brought me to where I am now. Shifting paradigms does not mean abandoning all your beliefs, but rather, you can look at it as God redirecting you. My previous beliefs were a great avenue to keep me grounded and develop my thoughts. However, now, my eyes are beginning to open to the revelation. Thus, my awakening.
Yes. But this is looking at it through a new lens. It may be controversial for some people because we have been told how to operate and interpret the Bible. Our current practice of interpreting the Bible actually goes back to the father of Christian theology, Augustine. He told his understudies to take his doctrine and overlay it on the Scriptures. By doing so, they were able to interpret the Bible. And that’s what we’ve been doing.
In the first centuries, Christians had various opinions and ideas. There were different kinds of ways that people described Jesus. There were no real set doctrines and codified rules. However, Christianity was flourishing. Thus, getting rid of heresy was the best option to consolidate power. At this point, Christianity became bound to a set of doctrines. And if you did not oblige to the doctrines, you’ll be annihilated or martyred.
Although their intentions were well-meaning—to eradicate heresy and guard Christianity—by the time you do that, you take away the job of the Holy Spirit—to guard the truth.
There is a lot of place for them. Their place is to help unfold the reality of Christ in us, not to tell us what we need to do. Because the truth is, we already live and move and have our being in God. We’re not separate from God. We are His manifestations. We are His expression to the world. And we’re already His children. And bringing Christ into it gives us an understanding of what He looks like. We look like Jesus.
Yes. There is a time when we make a choice and say that we accept that Jesus is Lord and that He is our life. We are saved through His life. But the greatest testament of faith is probably Mary herself. She had neither seen nor had a physical relationship with a man, yet she was told that she was pregnant and would give birth to the Son of God. Mary had a real conundrum—how to get her head around that. However, she came to a resolve to just let it be and accept it as God has said.
You might be wondering whether Awakened Life is a Christian-oriented brand. Simply put, I founded Awakened Life because I felt somewhat disconnected and sensed a void. In a recent interview with Dennis Deardoff, I realized that it's acceptable to embrace and be awakened by fresh viewpoints.
This subject is fitting for my brand since we are receptive to all sorts of paradigms. Through my podcast, The Awakened Life Podcast, where I conversed with Dennis Deardoff, I aim to challenge and disrupt established paradigms.
If you're interested in delving deeper and gaining insight into what it truly means to know Jesus and how my guest, Dennis Deardoff, underwent a paradigm shift, tune in here.
Are you looking to grow your business and secure its financial future? The key might just lie in something that most people try to avoid: debt. But not just any kind of debt - the good kind of debt. By building your credit, you can unlock opportunities to secure loans and funding that can take your business to new heights.
Your financial power is partially determined by your credit. It enables you to procure items such as a car loan or a credit card based on your commitment to pay later. Enhancing your credit score is crucial to guarantee that you qualify for loans when you require them.
On the other hand, when launching a new business, many aspects like marketing materials, staffing, sales, and saving funds take precedence over your business credit. Nonetheless, maintaining your creditworthiness is essential to growing a successful company.
In this article, we'll explore how you can build your credit and use it to fuel your business's growth.
What is business credit?
Similar to personal credit, business credit reflects your business's financial risk to lenders, suppliers, and other vendors. This score enables them to evaluate your eligibility for financial credit. Your business's credit rating is a reflection of your company's reputation. When seeking small business financing or trade credit from lenders, they first often examine your business credit rating before engaging with you. This score uncovers any indications of your business's late payments or bankruptcy, which may affect your ability to establish future business relationships. Having a poor credit history can discourage prospective lenders or investors from partnering with your company because it poses a significant risk. Therefore, developing your business credit can position your business for long-term success.
Why is it important to build business credit?
Although your personal credit may be exceptional, it's not advisable to apply for a business loan under your name due to liability concerns. If your business were to face financial difficulties, your personal credit report could be negatively impacted if the loan couldn't be repaid. Additionally, in severe cases, creditors may seize your personal assets if the loan was in your name. To avoid this risk, it's advisable to establish business credit and apply for loans using your company's credit report.
Having strong business credit opens up a world of financial possibilities for your business. Lenders are more likely to approve loan requests when your business has a solid credit history, and they may even offer lower interest rates than if your credit is poor or nonexistent. This can enable your business to invest in new products or equipment that it might not have otherwise been able to afford.
Likewise, investors and partners may be more willing to work with your business if they see that your credit score is strong. This demonstrates that your business is trustworthy and dependable.
Good Credit vs. Bad Credit
To put it simply, having a good credit score indicates that you consistently make timely payments on all of your accounts until they are completely paid off. Conversely, having bad credit implies that you struggle to keep up with your obligations, either by failing to make at least the minimum payments or by missing payment deadlines.
What are the 5Cs of credit?
Lenders utilize the five Cs of credit to evaluate the creditworthiness of potential borrowers, taking into account five distinct characteristics of the borrower as well as the loan conditions. This approach aims to estimate the likelihood of default and the associated risk of financial loss for the lender. The five Cs of credit include character, capacity, capital, collateral, and conditions.
Character
A crucial factor in determining character is your credit history, which reveals all debts you have accumulated in the past 7 to 10 years. Lenders rely on your character to evaluate your capability to repay a loan. This information offers valuable insight into your ability to make timely payments and your credit mix.
As a small business owner seeking a loan, lenders may request access to your personal credit reports and communicate with your bank in order to verify how you handle your checking accounts and any existing loans. In addition, your personal credit history also directly impacts your character and consequently influences your ability to secure loans for your business.
Capacity
Your capacity to take on new debt is evaluated by measuring your ability to repay it in relation to your existing obligations. Your cash flow and debt-to-income ratio play a crucial role in this assessment.
When you apply for credit, lenders assess your debt-to-income ratio to determine how much you owe compared to how much you own. A lower debt-to-income ratio will make you a more attractive candidate for credit in the eyes of the bank. Moreover, other factors, such as job tenure and income stability, are also taken into consideration.
Capital
In assessing a borrower's creditworthiness, lenders take into account the borrower's capital level. For a business loan, capital comprises the owner's personal investment in the business, retained earnings, and other controlled assets.
Lenders prefer borrowers with higher capital levels as it indicates that the borrower has a greater stake in the business. When borrowers have invested their own funds, they are more likely to have a sense of ownership and be motivated to avoid defaulting on the loan. Banks quantify capital as a percentage of the total investment cost.
Collateral
Collateral provides lenders with a level of assurance that they can recover some of their funds in the event that the borrower defaults on the loan. Typically, the collateral is the same item that the borrower is seeking to purchase with the borrowed funds. For example, a car loan is secured by the car, and a mortgage is secured by the home.
Because of this added security, loans backed by collateral are often called secured loans or secured debt. Lenders view these types of loans as less risky, which results in them offering lower interest rates and more favorable terms compared to unsecured financing options.
Conditions
The term "conditions" encompasses both the specific terms of the loan and any external economic factors that may impact the borrower. When evaluating loan applications, business lenders take into account conditions such as the state of the economy, as well as the intended use of the funds, such as working capital, equipment acquisition, or business expansion.
Conditions are generally evaluated using qualitative measures, making them the most subjective of the five Cs of credit. However, lenders also rely on quantitative metrics, such as interest rates, loan amount, and repayment terms, to assess the conditions of the loan.
Conclusion
Before extending credit to borrowers, lenders utilize the abovementioned criteria to assess their creditworthiness. If you wish to get a loan or make use of your credit, lenders take into account your credit history or character, capacity to settle payments in a timely manner, available collateral, capital, and prevailing market conditions to determine the most favorable credit terms.
It is important for you to be aware of these characteristics and how they impact your credit situation. By understanding these factors, you can work towards achieving your financial objectives while also improving your creditworthiness.
To better understand how credit works and how you can leverage it to grow your business, you can listen to my podcast. My guest, Adam Bednar, a successful corporate lender, shares his elaborate knowledge about building good credit and insights on how it can help to scale your business.
What kind of life and world do you hope to create and leave behind for future generations to remember you by?
Whether it's through philanthropy, family, or other passions, we all have the opportunity to leave our mark on the world. Legacy is about learning from the past, living in the present, and building a better future. It isn't solely focused on death but also informs how we live our lives. Legacy provides perspective on what truly matters and allows us to make intentional choices about the kind of life we want to lead.
And as humans, creating a legacy has become subconsciously engraved in us. It has become a driving force in finding out our purpose and the meaning of our lives. That is why it is important that we intentionally work towards building our legacy, as it not only strengthens our relationships and communities but also taps into our human spirit.
If you'd like to be intentional about building your legacy, read this article to learn more.
What is a legacy?
A legacy goes beyond the literal definition of the long-term effects of past events or actions. Rather, it is formed by personal values and how they are shared to make an impact on the world. Your stories, the memories you’ve shared with people, and the perspectives you have built through life are combined in creating your legacy.
Many would think that legacy is about maintaining life and leaving a mark even after death, but at its core, it can be a way to lead a fulfilling life in the present. While the idea of legacy may initially evoke death, it is truly about life and how we choose to live it, and the type of world we want to create.
How to Start Being Intentional in Building Your Legacy
Identify your core values and reflect on your identity.
It's common for leaders to engage in the process of self-discovery to uncover their unique identity and value system. As a leader, it's crucial that you have a deep understanding of your personal values and beliefs. This self-awareness is essential for shaping your leadership style, behavior, attitude, and legacy.
Create Your Guiding Foundational Principles
After establishing a firm sense of self and values, how can they be transformed into guiding principles that others can rely on? These principles must embody your strongest beliefs and convictions, representing your leadership standards and outlook.
Be Courageous and Take Risks
As a leader, it is essential to have faith in your instincts and be courageous enough to take calculated risks. Sometimes, you may need to trust your abilities enough to question accepted norms and go beyond conventional wisdom—despite the threat of it potentially harming your reputation.
Genuinely Care to Advance Others
It is crucial to understand what brings happiness to the people whom you lead and serve. As you progress and grow as a leader and strive to establish a favorable impact, it is vital that you continuously seek ways how to improve the way you serve others and wholeheartedly aid in their professional progression and overall enthusiasm towards life and their career.
Always Practice Responsibility and Accountability
Being intentional in creating a legacy involves recognizing the chance and obligation to advance oneself through service to others. It is solely up to you to establish the tone and set performance expectations for both yourself and others. To succeed, you must possess immense self-discipline to ensure you hold yourself accountable and consistently meet those expectations every day and in every situation.
Legacy is about creating traditions that can be passed down to future generations. A good example of this is a family business, where the knowledge and experience are directly transmitted to the next generation, enabling them to take over and expand the enterprise successfully. As a leader, it is your duty to honor the legacy and traditions of those who came before you while also taking responsibility for building upon those traditions to enhance the organization's culture, human capital, and brand.
Conclusion
Legacy can take on various forms, it can be your descendants, a business venture, a belief or ideal, a written work, a community, a home, or a piece of your own identity. Naturally, we're all intrigued by the prospect of our legacy and how we'll be remembered by the world when we're no longer around.
However, when we look at things purely from a practical perspective, we realize that failing to leave behind a legacy means that the valuable knowledge we've gained through years of hard-won experience will disappear along with our physical body as it deteriorates over time.
That being said, establishing a positive and impactful legacy is no easy feat. Nonetheless, your legacy is a reflection of how you've lived your life, and it must be something that future generations can learn and benefit from. Thus, building this requires a significant amount of discipline, courage, selflessness, humility, and kindness.
To help you intentionally prepare an impactful legacy, I recommend listening to my podcast with Michael Stansbury, where he shares his life experiences and the methods he's used to maintaining positive relationships and interactions, all of which can serve as valuable insights for anyone looking to leave a lasting legacy.
The fast-paced modern lifestyle hardly allows for much rest and relaxation. There’s no point in denying that we've all experienced the unpleasant feeling of a sleepless night—feeling drowsy, irritable, low on energy, and sluggish. Our minds struggle to focus, causing us to make careless errors, and we just need copious amounts of coffee just to make it through the day.
Although consistently getting a good night's sleep might seem like a distant dream, it's crucial for our health and well-being. Chronic sleep deprivation increases the risk of various diseases, including heart disease, insomnia, stroke, dementia, obesity, and more. However, there are ways to improve our sleep quality.
Keep reading to learn how to restore your sleep so that you can restore yourself.
Why is having quality sleep important?
The importance of sleep quality cannot be overstated. Similar to eating and breathing, sleep is fundamental to human existence. It is crucial for feeling refreshed and energized, reducing daytime drowsiness, and maintaining physical and mental health. Furthermore, sleep also plays a pivotal role in growth and development, particularly for babies, children, and adolescents. Adequate sleep can prevent illness and aid in recovery from injury or sickness.
Conversely, poor sleep quality and sleep deprivation can have grave consequences, both physiologically and psychologically. They increase the likelihood of heart disease, hypertension, and stroke. At the same time, it also triggers anxiety, irritability, and depression. In addition, sleep deprivation also poses a significant risk to public safety, particularly when drivers become drowsy while driving and cause accidents on the road. Therefore, prioritizing quality sleep is crucial and highly important as it helps prevent the negative repercussions of sleep deprivation, and on the bright side, it improves your well-being.
Causes that Affect the Quality of Sleep
Several factors may contribute to the inability to have a good night's sleep. These include your daily activities, the environment in which you sleep, and disruptions to your regular routine due to stress, work, travel, sickness, and more. However, once you identify the underlying reason for your lack of sleep, you can already take the necessary measures to overcome the issue and give your body and mind the rest they require.
Below are some of the typical causes that affect the quality of sleep:
Unregulated Stress
These days have been quite challenging for everyone, especially with the threat of recession, pandemic, and all the hate around the internet. As a result, a great number of us find ourselves worried about work, finances, and our own or our loved one's well-being. Throughout the day, other concerns can serve as a temporary diversion. Nevertheless, it is often only at night, when we are alone with our anxious thoughts, that we become bothered. So we end up ruminating about the things in the past or even of the uncertain future that we end up losing a few good amounts of hours that are intended for sleep, or worse, wake up in the middle of the night because of those bothersome thoughts.
Poor sleep environment or habits
Poor sleep or inadequate sleep quality at bedtime may originate from your activities during the day. Factors such as excessive caffeine intake, lack of physical activity, exposure to digital screens prior to bedtime, or an unsuitable sleep environment marked by high temperatures, glare, or noise, can all lead to poor sleep quality.
Sleep Disorders
The inability to obtain sufficient, high-quality sleep at night and consequent sleep deprivation can be caused by a sleep disorder like sleep apnea, restless legs syndrome, or narcolepsy.
Irregular work schedule
Working in shifts can disturb your natural sleep-wake cycle, which works on a 24-hour pattern, making you feel lethargic and fatigued. If you have a routine of working in the night, early morning, or rotating shifts, your sleep quality may not be as satisfactory as compared to a regular daytime shift.
Medical Issues
Your sleep issues could stem from a medical condition such as heartburn, thyroid disease, or a mental ailment like depression, anxiety, or bipolar disorder. More so, those with dementia, particularly the elderly, may also suffer from disrupted sleep patterns. Furthermore, certain medications can have sleep-related side effects.
Substance Use
Although alcohol consumption may initially aid in quicker sleep, it can also impede sleep quality by excessive snoring, disturbing the beneficial REM sleep cycle, and inducing premature waking. Meanwhile, employing stimulants like cocaine or amphetamines can similarly impede restful sleep and lead to nocturnal wakefulness.
How to Restore Quality Sleep
Have a calm mind before sleeping
In the hour leading up to bedtime, it's best to steer clear of screens, work-related activities, and any conversations that may cause stress. Instead, establish a soothing bedtime routine that will help you unwind and quiet your mind. Consider indulging in a warm bath, listening to calming music or an audiobook, reading under soft lighting, or practicing relaxation techniques such as meditation, deep breathing, or progressive muscle relaxation.
Manage your stress and save your worrying for the following day
No matter what is causing your stress, it is possible to acquire healthy stress management techniques that can alleviate tension and anxiety and ultimately improve your quality of sleep. If you find yourself lying awake at night, consumed by worries, try jotting them down on paper and allow yourself to postpone any further worrying until the following day. After a restful night's sleep, you will be better equipped to face and address the issue at hand.
Improve your sleeping environment
To ensure a good night's sleep, it's important to create a comfortable environment in your bedroom. Keep the room cool, quiet, and dark, and reserve your bed solely for sleeping and sexual activities. Avoid using screens, doing work, or engaging in any stressful activities in bed.
Exercise regularly
Engaging in regular exercise not only helps to alleviate stress but can also enhance your mood and alleviate the symptoms of various sleep disorders. Strive for at least 30 minutes of physical activity on most days of the week, but be mindful not to exercise too close to bedtime as it may interfere with falling asleep.
Reduce the impact of working late shifts
By increasing your light exposure with bright lights while working and then decreasing your exposure to light when at home and preparing to sleep, you can regulate your sleep-wake cycle. Installing blackout shades or heavy curtains in your bedroom can also help to maintain a dark environment during the day, promoting better sleep.
Eat healthily
Consuming excessive amounts of sugary foods and beverages, alcohol, and caffeine throughout the day can interfere with your sleep at night. Eating a heavy meal near bedtime can also make it challenging to fall asleep while drinking too many fluids can disrupt your sleep by causing frequent awakenings. Thus, it is best for your sleep to avoid them before bedtime.
Seek professional help
If you suspect that a medical condition may be the underlying cause of your sleep deprivation, it is advisable to seek professional help. Discuss any chronic physical or mental health issues with your doctor, who can offer guidance on addressing them to improve your sleep quality. Additionally, your doctor can help you identify any prescription medications that may be contributing to your sleep problems and recommend changes as necessary.
Conclusion
If you consistently wake up feeling unrefreshed and tired throughout the day, it is crucial to take steps to address your sleep issues. Although it may be tempting to resort to sleeping pills when desperate for rest, there are numerous strategies you can implement to improve the quantity and quality of your sleep without relying on medication.
Although sleep aids or pills may provide temporary relief, they do not address the root causes of your sleep problems and may even exacerbate symptoms over time. Instead, making changes to your lifestyle and behavior can be effective in addressing sleep deprivation and restoring your sleep schedule. Also, you may listen to my podcast, where I interview sleep coach Talia Shapero, to get more tips on how to improve your sleeping habits.
While some people lead colorful, purposeful, and fulfilling lives, most just go through the motions like zombies. Which category do you belong to? At one point in my life, I was part of the latter group. However, I managed to recover and am still in the process of bettering myself. How did I do it? By striving for an awakened life through aligning my purpose and fulfillment. In this article, I will discuss my journey toward finding my purpose and living a fulfilled life, along with some tips on how to achieve them.
What is the distinction between success and fulfillment?
When I started my entrepreneurial journey, I was solely focused on chasing success. As a highly goal-oriented person, setting goals was all I knew how to do, and achieving them was a great feeling. I believed that meeting my goals was the definition of success and that success equated to fulfillment. It wasn't until I experienced my first major setback that I began to question everything I had been doing.
Upon reflecting on my life, I realized that I wasn't truly happy with what I was doing - I was only doing it because I felt like I had to and because there was a goal I was working towards. This realization led me to search for my purpose, and it was then that I experienced an awakening. I understood that in order to feel fulfilled, I had to live my life through my passions and ultimately find my purpose. This is what inspired me to create my brand, "Awakened Life."
I soon realized that it's not about choosing between success and fulfillment - they are two concepts that should be married together. Success without fulfillment is not true success. True fulfillment comes from making a meaningful and lasting contribution to something that you deeply care about - your purpose.
So, the question then becomes - how do you discover your purpose?
How to find your purpose?
As a life and business coach, I often get asked, “How can I find my purpose?”
Instead of focusing solely on your purpose, try asking yourself, “Who am I?” The key to discovering your purpose lies in understanding your identity. Everyone is uniquely designed, with different passions, skills, and abilities. By identifying these characteristics within yourself, you can begin to understand what you are meant to do and find fulfillment in your purpose.
But what happens when you reach a point where you’ve achieved your goals and yet don't feel fulfilled? This can be confusing, as success is typically associated with fulfillment. In this situation, it's essential to introspect and ask yourself if your achievement aligns with your purpose. For example, if your goal is to make a lot of money and you work hard to achieve it, you might find that you feel exhausted and unfulfilled. However, if you have a passion for entrepreneurship or coaching and you utilize your skills and abilities in these areas, you will feel fulfilled because you are doing what you love.
Another helpful exercise is the “life wheel exercise.” By measuring different areas of your life from zero to ten, such as your business, finances, relationships, health, and hobbies, you can identify which areas need improvement and gain clarity on your purpose.
When you align your purpose with success, you experience a sense of freedom and fulfillment. Although the journey may have its ups and downs, you can find peace and contentment knowing that you are grounded in your purpose. While aligning purpose and fulfillment may seem daunting, it is achievable with introspection and a willingness to explore your identity
How to bridge the gap between purpose and fulfillment?
From my personal experience, when you are out of alignment with your purpose, you may experience symptoms such as angst, anxiety, stress, worry, and sleepless nights. When you notice these signs, it's crucial to evaluate yourself and the things you do. It's also helpful to have someone to talk to who can offer an outsider's perspective.
Additionally, being part of a community and connecting with like-minded individuals can help bridge the gap between purpose and fulfillment. It's liberating to know that there are people who share similar circumstances and vulnerabilities, and this connection can inspire everyone to find their purpose.
In my Awakened Life Mastermind Group, we dive deep into each other's vulnerabilities through a process we call the "lifeline exercise." This exercise involves sharing all the high and low points of your life and mapping out your experiences to identify breakthroughs or purposes. The exercise is effective because it requires you to be intentional when sharing your experiences, making you more aware of your strengths and weaknesses and eventually leading you to find your purpose.
Holistic Approach to an Awakened Life
What is the ultimate goal? If it is to attain an awakened life, then purpose and fulfillment must align. Earlier, we discussed finding one's purpose. Now, let's delve into how to gain fulfillment from it.
The journey toward an awakened life is a holistic process that involves establishing the four pillars of fulfillment: vitality, impact, freedom, and intentional relationships.
The first pillar is vitality.
Vitality includes maintaining physical and mental health. This encompasses energy management, quality of sleep, balanced nutrition, flexibility, and overall wellness. Without a healthy mind and body, one cannot create an impact or leave a legacy in the world.
The second pillar is relationships.
Having awakened relationships means being intentional with them. Relationships are a crucial source of support when navigating through life's challenges. No one can survive in isolation. Therefore, it is essential to establish strong relationships that provide strength and support during difficult times.
The third pillar is freedom.
Freedom involves being free from external and internal pressure. To live an awakened life, one must be able to release themselves from financial constraints, relationship issues, self-imposed limitations, negative thoughts, and internal struggles. Having a free mind, body, and soul paves the way for becoming the best version of oneself.
The fourth and final pillar is creating an impact.
Identifying one's purpose is pointless if it does not translate into making a positive contribution to the world. Having an awakened life means a continuous pursuit of growth to make an impact in business or life.
All four pillars of an awakened life should complement each other. Without any one of them, achieving purpose and alignment becomes more challenging.
Conclusion
Living an awakened life is about being able to wake up every day with a sense of purpose, freedom, and fulfillment, ultimately leading to your best life. To gain more insight and guidance on how to achieve this, consider listening to this episode of my podcast focused on living a purposeful life.
You can also kickstart your journey towards an awakened life by taking the “Define Your Purpose Challenge.” This challenge can help you identify your purpose without having to go through unnecessary trials and errors.