What is ikigai? Once you know what it is you’ll know exactly why you want it! Season 2 Episode 8 of the FAQ Business Podcast and features our host, Jane Tweedy Founder of FAQ Business Training solo. This episode introduces the concept of ikigai, and some tips to achieve it if you haven’t reached ikigai. This falls under our thought leadership pillar.
Disclaimer – All information provided today is general in nature. Please reach out to Jane if required for personalised advice.
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Season 2 Episode 8 FAQ Business Podcast transcript | What is ikigai and why you need it?
00:00 What does ikigai mean?
Today’s session is a short one on a term called ikigai. And what does ikigai mean? Loosely it translates from a Japanese word meaning reason for being. And why is that so important for business owners? Well, if you can reach state of ikigai, you will find your business and your life runs a lot happier. So let’s cover that in today’s episode of the FAQ Business Podcast.
00:30 Welcome to the FAQ Business Podcast season 2 episode 8
Welcome to the FAQ Business Podcast for business owners, covering four pillars actionable education, inspiring leaders, businesses like you, and thought leadership where we challenge your thinking. Hosted by myself, Jane Tweedy. I’m founder and lead trainer of FAQ Business Training, where we want to avoid you getting ripped off or ripping yourself off. We’ll feature an amazing diversity of guests with lots to educate and inspire you. Let’s jump into today’s episode of the FAQ Business Podcast.
Welcome to season two, episode eight of the FAQ Business Podcast. I am your host, unfortunately here again today by myself and the reason for that is simply because I have been really struggling to get everything fit in. My life has been so chaotic, so busy, and sometimes we just need to forgive ourselves and let ourselves go a little bit.
01:30 Ikigai is ‘our reason for being’
But what I want to talk about today is the subject of ikigai and ikigai is our reason for being. And for me, ikigai is something super important and something that I strive for and something I hope you do too. So what is ikigai? What does it mean and how does it play out on your business?
As I mentioned before, ikigai is a Japanese term which loosely translates into English as ‘the reason for being’. So that kind of gives you some clue of why it’s so important, but particularly in business why is this important? Ikigai is achieved when you have the intersection of four parts. So the four parts are things that you are good at, things that you love doing, things that the world needs and things that you get paid for.
02:27 Ikigai – passion, mission, profession and vocation
The intersection of all four of these areas is called ikigai. The way ikigai works is it works firstly in pairs and then obviously it combines together to get to this stage of ikigai. So let’s look at the pairs we have. There are four pairs that you reach an ikigai passion, mission, profession, and vocation.
So the passion obviously comes from the first two things I mentioned, which is what are you good at and what do you love doing? Because if you love doing something and you’re good at it, you’re going to feel really positive about it. Now in business, these are obviously the things that we market. These become the things that we put out to the world and say these are our products and services because this is what we really love doing but we’re also amazing at it, perfect things to market.
03:18 Update SWOT analysis – refer our blog
I encourage you as a part of this ikigai process to also update your SWOT analysis, strengths, weaknesses, opportunities and threat. Now we do have a little blog on this, so if you are stuck about what SWOT analysis is feel free to look at that. But we do our SWOT slightly differently from some.
So we actually kind of combine a bit of this ikigai in there. Because what we do is say, what are your strengths? What are you good at in ikigai terms? Combined with what you like doing or in this case what you love doing? So strengths that you like are the things that we would promote and market and create products and services for. Weaknesses that you dislike are the first things we outsource or delegate.
04:02 Find your passion in business
First of all, finding your passion in a business is amazing. It is going to help you and your business no end. Because when the going gets tough, you need that why you need that purpose to keep you going, keep you on track, and keep you going forward.
04:17 Mission – something you love to do that the world needs
So what about the mission? The mission is what you love doing, but also what the world needs. Now I definitely hear some people in this space go, oh but I’m an artist, but I’m a musician, the world doesn’t really need me, I’m not like a doctor or nurse saving lives every day, but you are.
04:40 Even artists and musicians are what the world needs
And you think about what you do as something like an artist or a musician. Think about it, if you’re feeling a bit down or depressed, or you’re having a bit of a rough day, or even if you’re just a bit tired and you’re in the car, what do you do? You ramp up the tunes, you put the music on. So even things like musicians are what the world needs.
05:00 There is something in what you do that the world needs
So don’t be afraid to think that your thing is not important enough, it is not one of those sort of amazing pursuits that are just put up on a pedestal. Not like that at all. There are so many things that the world needs that you offer, so it doesn’t matter what you do, and you can break it down into a small thing that the world needs out of what you do, but there’ll be something in what you do that the world does need.
Unless you’re something like a criminal or whatever. Okay, maybe there’s not anything you need in that. But for most of us, there will be something that the world does need. So think about that performer type example. That musician type example. The muso definitely is something the world needs. When we’re feeling down, we need those tunes. It lifts us up, and that is something the world definitely needs.
05:52 Vocation – problems that need solutions
What about vocation? Vocation is typically what the world needs, where the gaps are, where things have problems that need solutions, and what you can get paid for. So vocation is quite obvious. That’s where most people would look for their career opportunities and go, okay, there’s a vacancy in this area. I can fulfill that vacancy achieve income so therefore that is my vocation.
06:18 What you are good at and get paid for is your profession
The other one is profession. Profession is what you are good at and what you can get paid for. With what you are good at you’re not going to get paid to be a doctor if you keep causing people to die, leaving implements in their bodies when you’re conducting surgery, that ain’t going to work. So what are you good at? What things can people actually go, yeah, I’d go to you because you’re good at what you do. That gives you your profession. People pay money for that because you are good at what you do.
06:47 When you come to state of ikigai you’ve hit gold!
So when we combine the passion, the mission, the vocation, and the profession together, when we combined all four of those, we come to that intersection or a state of ikigai.
So in your business, you think about it, in your business if you love what you do, if you are good at it, if the world needs it and you’re paid for it, hallelujah, you’ve hit gold. You have hit the state of ikigai because people are prepared to pay you what you’re worth. You’re great at it. So they’re going to get a good service. You love doing it. You’re going to have that passion and that raw energy into it and the world needs it. So there is nothing bad about ikigai.
07:36 Am I in a state of ikigai?
So today’s episode was a very short and sweet podcast. But today I just want you to understand this one term of ikigai. I want you to look at your business, your life, and go am I in a state of ikigai? And if you’re not I want you to look at each of these areas or each of the four pairs and work out why you are not currently in a state of ikigai.
And I can tell for most of you, it’ll be what the world needs. You’ll perceive that you don’t actually offer something that the world needs when you probably do. So really think about how you rephrase that and revalue that to make it so that you are offering something the world needs or that you believe that you’re offering something the world needs more to the point.
08:27 What are we good at and what can we get paid for?
The other one though, that is probably the most problematic for you is what can you be paid for? But before we do that, I’ll just quickly look at what you are good at because that can obviously can be upskilled. And you remember, you only need to be better than the people that you are doing the work for. You do not need to be the best master builder in the world to build someone a letterbox or build someone a fence. And you need to be better than what they require. But you don’t need to be the master builder of the world.
So always remember, you only need to be good to an extent that meets the needs of the people. So what you love doing, if you don’t love it? Really? Why bother? But I see too many people that love what they’re doing, but they do it without making any money. And that’s just not sustainable in the long run.
09:23 Might be better packing shelves and then doing something you love
You know what you’d be better off doing? You’d be better off going and packing shelves at the local supermarket and then spending that extra time that you’re spending way too many hours in your business doing something you love, volunteering or doing a hobby that you love. So you’d still be doing something you love, but you’d be getting paid for it.
09:42 Value yourself and what you offer
So the key thing with ikigai that I think most of you are going to be struggling with the issue with is what can you get paid for? This really comes down then to an issue about pricing and about valuing yourself and your self-worth. So I really want you to stop and think, what can I be paid for? Am I being paid enough for what I’m offering? Does the world need what I do? Do I love what I do? Am I good at what I do? Well, yeah I am, can I be paid for it? Is there genuinely something here I can offer at a viable price that means that I can stay in business?
10:23 Keep an eye out for our pricing courses and workshops
So definitely keep an eye out for our pricing courses and workshops, because we are very big about the issue of pricing. And there’s some really strong examples I give to people to make them understand that their pricing is often their own issue. They perceive it to be an issue or the customer can’t afford it. It’s the customer’s problem, but often it’s not. Often it’s what’s going on in our own heads and our own belief system and that’s what’s causing us the issue.
10:52 State of ikigai is something we should strive for
State of ikigai definitely something that you need to strive for. So what do you love doing? What are you good at? Your passion, your profession? What are you good at? And what do you get paid for? Your mission, what the world needs and what you love doing and your vocation, what the world needs and what you can be paid for.
If you combine all four together, we reach a state of ikigai, and the ikigai is the reason for being.
11:22 Thank you for tuning in to today’s FAQ Business Podcast
Thank you for tuning into today to today’s short episode of the FAQ Business Podcast. We will catch you again soon on the FAQ Business Podcast.
11:36 Don’t forget to subscribe, follow and share
Thank you for listening to today’s episode of the FAQ Business Podcast, available on all good podcast services. You can subscribe today via FAQBusinessPodcast.com.au directly on Apple iTunes, iHeartRadio or Spotify. Subscribe, follow, share and where able to, review our podcast or leave us a comment on either YouTube or our blog page.
Thanks for helping us to help you the small to medium businesses who are growing and want to make a difference. Look forward to connecting with you again on the next episode of the FAQ Business Podcast.
Today’s podcast episode featured our host Jane Tweedy. Her details are as follows:
Jane is a Professional Certified Coach with International Coaching Federation (PCC with ICF), business advisor and trainer. She loves working with growing small to medium business owners who are doing the right thing, to help them do it right! Currently, Jane offers at least 50 live sessions a year to train small business owners.
Jane offers a variety of services to clients and her online school and membership was launched in late 2021. Jane’s focus for 2022 is building the membership and offering implementable small group training – something she finds is often the missing link.
If you are interested in training, speaking, or anything else Jane has to offer, please connect via email@example.com or via the contact forms on our websites.
faqbusinesstraining.com.au – our main site with a great blog
faqbusinesstraining.com – our new online school and membership site
faqbusinesspodcast.com.au – our podcast site
And on the socials …