The WholeLife Matrix is a chart that illustrates the four main areas that affect our lives and businesses. These areas include financial viability, relationships, health/ well-being, and personal awareness. In the chart, these main areas are displayed, and subsections of each area are also shown. For example, a subsection of financial viability is resource management. Each subsection also has its own section and subsection to drill further down to more detailed areas that we need to manage in our day to day lives.
Balancing the Quadrants
By keeping the sections of the WholeLife Matrix balanced, you help to ensure a successful business and life. You can use the sections of the Matrix to help you evaluate how you are doing in each area and create goals for the various areas.
A common goal for businesses is to create more income to keep the business afloat or to increase its growth. The person running the business needs to decide how to manage time and resources to make this happen. We will now discuss this as it relates to the WholeLife Matrix.
Define Your Financial Success
To achieve the financial success that you want, you need to specifically define what it should look like in your business and life so that you can take actions to achieve it. Financial success can mean different things for different people. For one person, it may mean making $100,000 a year. For another person, it may mean making $1,000,000 a year.
Decide Which Sections Need Attention
To increase your income, you need to decide which sections of the financial viability quadrant need attention. Perhaps you need to spend more time marketing your business to get more clients, or maybe you need to purchase more efficient equipment or hire a new employee. Once you have identified the areas that need attention, you can set goals for them.
Making $1,000,000 Per Year
Let’s say that your goal is to make $1,000,000 per year. Here are some of the questions you might ask yourself as you brainstorm how to achieve this:
1. Can your business sell enough product to make $1,000,000 with the resources (materials, inventory, and people) you currently have? If not, what changes do you need to make to reach your goal?
2. To generate enough profit to leave $1,000,000 for you to take as a distribution, how much product would you need to sell? What cost control systems do you need to have in place to earn that profit?
3. How many sales do you need to make to reach your financial goal? Do you have enough time to do this or do you need to hire help? How will hiring assistance impact your profits?
4. Can your current production and delivery capacity create enough product to fulfill the sales goal that will get you to $1,000,000? If not, how will you boost your capacity? By creating more efficiency? By outsourcing work?
With the help of the WholeLife Matrix, you will be able to find the right questions to ask for your particular business, quantify your intentions, and set specific actions for achieving them.
Business Coach, Author, Artist & CEO
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