Episode 131 – Preparing for Change with Steve Johnson

Episode 131 – Preparing for Change with Steve Johnson

In this episode, the guys are joined by Steve Johnson, founder of the Wellbeing Science Institute, for a fascinating conversation about elite sport, financial wellbeing and preparing for change.

Steve explains why supporting an athlete means looking beyond performance. From finances and relationships to identity, career and emotional wellbeing, a whole-person approach can help athletes perform at their best while also preparing for life beyond sport.

Welcomes & Introductions

Chris Budd – Founder of Ovation Finance and the financial wellbeing movement.

Tom Morris – Managing Director of Ovation Finance. Award winning, Bristol-based, chartered, B-Corp certified and employee-owned.

Fancy a chat with Tom Morris and the team at Ovation? Contact details here

What’s on Today’s Podcast?

A chat with Steve Johnson, founder of the Wellbeing Science Institute.

Steve began his career as a personal trainer and sports psychologist before moving through management, financial services and investment management. For the last 12 years, his work has returned to elite sport.

His wellbeing programmes take a holistic approach, helping athletes consider not just sporting performance, but their physical, psychological, emotional, relationship, community, career and financial wellbeing.

Tight Ass Tommo

Light-hearted money saving tips, guaranteed to make you smile and think twice about your spending habits.

This time, food is on the menu.

Chris suggests going vegetarian to cut one of the more expensive parts of the weekly food shop, while Tom makes the case for visiting your local butcher. Better quality, support for a local business and, depending on what you buy, it might not cost any more.

Interview with Steve Johnson

Looking at the whole person, not just sporting performance
Why financial wellbeing matters for elite athletes
The pressures of earning significant sums at a young age
Identity, status and the question of “Who am I?”
Knowing who to trust when money and success arrive quickly
Why most elite athletes struggle to make a living
The financial challenges facing women in professional sport
Staying at the elite level, not simply getting there
Financial literacy and the influence of agents
Why wellbeing can be a performance enabler
Preparing for injury, changing contracts and the end of a sporting career
Normalising change rather than treating transition as unexpected
The importance of understanding who you are and what matters to you
The losses athletes can experience when they stop competing
What elite sport can teach us about retirement, selling a business and redundancy
Why financial education needs to start earlier and feel relevant to young people

Conclusions from the Guys

Reflecting on the interview, David highlights Steve’s approach of starting with the person rather than focusing solely on results, contracts or performance.

Tom reflects on how easy it is in sport, and in life generally, to become focused on the outcome. Paying more attention to wellbeing and the process along the way can help people enjoy what they are doing, while potentially supporting better outcomes too.

Chris picks out two particularly important ideas from the conversation.

The first is normalising change. Whether it is an athlete facing injury, somebody retiring, a business owner selling their company or somebody being made redundant, change should not necessarily be treated as an unexpected event. Recognising that transitions are a normal part of life gives us an opportunity to prepare for them.

The second is not defining ourselves solely through our job, status, income or wealth.

Chris reflects on business owners who spend years preparing their company for sale, only to complete the transaction and suddenly ask themselves, “Who am I?”

Preparing financially for a transition matters. Preparing the person for what comes afterwards matters too.

Steve Johnson is the founder of the Wellbeing Science Institute.

After beginning his working life as a personal trainer and sports psychologist, Steve went on to work in management, financial services and investment management before returning to elite sport.

He developed what he describes as the world’s first elite athlete wellbeing management programme, working with both athletes and the people who support them. His approach considers the whole person, helping athletes to perform while also building the skills and self-understanding that can support a fulfilling life beyond sport.