BIO: Kim Ades is the Founder of Frame of Mind Coaching™ and Co-Founder of The Journal That Talks Back™. Recognized as a pioneer in leadership coaching and thought mastery, Kim uses her unique philosophy and quirky coaching style to help leaders identify their blind spots and learn to direct their thinking to achieve extraordinary results.
STORY: Kim had partnered with a friend and her ex-husband to start a business, but as her marriage unraveled, the partnership became hard. Kim decided to sell the company to her husband but didn't take the time to understand the deal. Three years later, Kim learned that she owed the government $300,000 in taxes from the business she'd sold.
LEARNING: When things are very stressful, it's a good idea to slow down instead of speeding up. Don't be forced into a decision without understanding all the elements.
"If you don't understand what's going on, don't just quickly make a decision. Slow it down, get your information, and make sure you understand fully what's going on."
Kim Ades
Guest profile
Kim Ades is the Founder of Frame of Mind Coaching™ and Co-Founder of The Journal That Talks Back™. Recognized as a pioneer in the field of leadership coaching and thought mastery, Kim uses her unique philosophy and quirky coaching style to help leaders identify their blind spots and learn to direct their thinking to achieve extraordinary results. Author, speaker, entrepreneur, coach, and mom of five, Kim's claim to fame is teaching her powerful coaching process to leaders, executives, and entrepreneurs worldwide.
Worst investment ever
When Kim started her first company, Upward Motion, she had two business partners. One was a good friend, and the other was her ex-husband. The company built simulation-based assessments to help people make better hiring decisions.
As Kim's marriage was unraveling, maintaining the partnership became harder and harder. She ended up selling her business to her ex-husband. The problem is that Kim didn't know anything about selling businesses. She was pretty young and didn't know about taxes or tax law. Kim was in a state of upheaval and just wanted to get out and have peace in my life. So, Kim made a deal without really understanding it. All she knew was she was getting out of the mess with a lot of money. It was still hard for Kim because she was very attached to the business.
About three years later, Kim was contacted by Revenue Canada, notifying her that she hadn't paid her tax bill and owed $300,000. Kim's hastily made decision had led her to this point.
Lessons learned
- When things are very stressful, it's a good idea to slow down instead of speeding up.
- Don't be forced into a decision without understanding all the elements.
- If you don't know what's happening, slow it down, get your information, and make sure you know entirely what's happening.
- Don't be pressured into something that is not the right fit for you.
Andrew's takeaways
- If you can sit through the pressure, you will win.
Actionable advice
If you're feeling pressured to make a decision, first ask yourself why, what's the rush, and what's the belief you have that makes you feel like there's an urgency to making this decision. Find out where the pressure is coming from and the facts around it. When does this decision need to be made? Are you prepared to make the decision?
Kim's recommendations
Kim recommends journaling because it allows you to put your thoughts down and look at them and see if this thinking leads you to where you want to go. Kim believes journaling is beneficial to help guide you toward your destination.
No.1 goal for the next 12 months
Kim's number one goal for the next 12 months is to create a journal-based coaching course for the coaching community.
Parting words
"Andrew, thank you for all the work that you do. I hope to meet some of your listeners face-to-face at some point."
Kim Ades
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