Getting Burned Out From Doing it All Herself: Pam Hopman

My guest for Episode #46 of “the My Favorite Mistake” podcast is Pam Hopman, founder of The Hopman Group, a financial advisory firm based in Tucson. Pam has over 20 years of experience working as a financial advisor, with comprehensive knowledge of strategies for retirement income planning, wealth preservation, and estate planning. She holds the designation of Chartered Retirement Planning Counselor from the College of Financial Planning.

Pam is the host of the Empower U Podcast and she recently launched her financial mastermind group called The Money Thing (formerly called Conversations Over Wine and Chocolate).

In today's episode, Pam talks about how she owned a practice with multiple offices, but got burned out — she was trying to do it all. She sold the practice and took a marketing job. This turned out to be a mistake, as the first year was great, but the second year was a “nightmare.” Learn how Pam wishes she had been coached through the challenges with that first practice and how having a coach has helped her prevent repeating mistakes in her new practice.

We also talk about financial planning mistakes and we learn we have a shared belief in the power of “baby steps” (hear Mark's podcast with psychologist Robert Maurer on that).

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Quotes:

"When you talk about a mistake, nobody goes out to make a mistake. Although mistakes often teach us so much more than we ever thought they could."

"I was just trying to do it all. I wasn't scaling the business well at all. It was too much."

"So we've actually gone from being a solopreneur all the way into somewhat of an enterprise at this point."

"And so I've been able to those things... I never would have learned if I hadn't made that mistake."

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