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Catriona Lumiste, Specialist Financial Planner for later life planning

Less hours, less stress & increased profitability

Success Highlights:

  • Increased profitability by reducing her 70+ hour working week to just 4 days a week, whilst retaining her regular flow of income
  • Set clear boundaries in place with her clients and improve her working relationships
  • Created an extra revenue stream from what she was giving away for free

“Momentum has taught me to think like a CEO and make decisions to help me be more sustainable for the future.​”

How was business before you started working in the Momentum programme?

I was fire fighting, dealing with stuff as it came along. I didn’t have any plan in place and was working on whatever was on my desk. If I needed to work on weekends or evenings, I just did it, without any control or boundaries. I thought this because I was a young business, and this hard work was something you just had you needed to do. I just didn’t know any different.

How did Momentum help you restructure your working week and achieve more from fewer hours?

The first cycle taught me so much about what I wasn’t doing ‘right’. By the time I did the second planning cycle, I really got really into the rhythm of the planning process and understood that I needed to give myself time to follow through.

Momentum showed me what my working week should be like and as a result, I have some strong boundaries in place. I have a structured Monday to Thursday working week; it felt powerful to have made this decision. Deciding on the right projects to focus on in Momentum made put more focus on my wellbeing (for example, I got back to regular running and eating better) and getting headspace away from the desk. I now make sure I build in a strategy day with myself at least once a cycle to get creative with my business thinking.

I now don’t work Fridays, unless it’s critical, and spend time catching up with people socially and running. Having my Friday off from client work also allows me to focus time on my Trustee roles for two charities where I support them on policy and procedures, and grant and funding applications.
What amazed me was that I’m now making any less money as a result of restructuring my week, so my profitability has shot up!

What key things have you worked on during your time in Momentum that has made a difference to you and your business?

Whilst assessing my profitability, I realised that some of my clients weren’t right for me. I disengaged with two clients and found them both better solutions, which also gave myself more time back in my diary so it worked well for the clients and for me. It’s good to know that I can make the decision to work with the people that are right for me.

I got up the courage to engage a digital media company to outsource part of brand building too, which freed up so much of my time.

One of the most interesting new initiatives I put in place was charging for an initial meeting and follow up. Working with Karen and her coaching team help me realise that I gave a lot of value, and that whilst other financial advisors and planners don’t charge for this, I could. They helped me position the meeting and come up with a good price point. Not only did this mean my time is protected, which was important as a sole trader, I also created an additional revenue stream from a service I had previously given away for free. This was a big mind shift for me.

How do you use your CEO Mindset to help you in your business?

I now feel strong, and whilst I’ve always been clear about what I do, I’m now even more confident, and proud of what I do and the value that it adds, and for that, I feel great. I have learnt to think like a CEO and make decisions to help me be more sustainable for the future

What is it like working with Karen and her coaching team?

They challenge my thinking, and the assumptions I make about things, and this is so important for growth.

Working on one’s own is quite isolating, and whilst I have a small network of trusted people for sounding-board type advice, being in the Momentum group is a safe place to have an open discussion and share concerns or celebrations, and the ethos of supporting each other has been beneficial.

What words of wisdom would you offer others who were thinking of joining Momentum?

I would say think of the value you would like to achieve from your business and then make sure you are prepared to give yourself the time to dedicate to the programme. Because the value you get from will be so worth the time you put in.

Trust the system, build your level of engagement with others, embrace it and get to know everyone in the community as they will be your support. Momentum is about everyone sharing and supporting each other, and growing in knowledge, and moving with it.

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