9 reasons why NOW is the best time to start your coaching business
Should you Start a Coaching Business?
Better face the facts. It's highly unlikely you're going to retire at your current place of employment. This means your current day job is temporary. Some employees hear this and "go ostrich." Fearfully, they stick their heads the ground and ignore this truth. Other employees wake up to the fact it's their responsibility to create a side hustle now, before their jobs are eliminated or outsourced.
I meet people nearly everyday who weren't ready for this harsh reality.
Their jobs were secure one day and suddenly non-existent the next. Understandably, this creates panic in people that have what I call a "long-term contractor" mindset. Contrast that with what I call a "functional freelancer" mindset. These people don't worry at all. Notice the differences below displayed in the chart I pulled from my book Day Job to Dream Job.
In today’s podcast episode I share 9 reasons why now is the best time to start a coaching business as your side-hustle.
How to Create a Successful Side-Hustle
Don't misunderstand me. I'm not suggesting you go and quit your day job today. Quite the opposite. Actually, I'm encouraging you to keep your day job while you start your side-hustle. The odds of succeeding are actually in your favor. In fact, according to an extensive study, you're 33% more likely to succeed in your start up if you don't quit your day job cold turkey.
Check out this excerpt from the Harvard Business Review:
Entrepreneurs who give up their day jobs in stages are 33% less likely to fail in their start-ups than those who leave their jobs precipitously to run their new businesses full-time, according to a study of thousands of Americans by Joseph Raffiee and Jie Feng of the University of Wisconsin-Madison. The staged approach, which allows entrepreneurs to gain important knowledge about their new businesses while phasing out their paying jobs, has become much easier with the rise of digital technologies that reduce the cost and time commitments of starting new companies, the authors say.
Earn Extra Income while in your Day Job
In 2011, while still in my day job, I saw the writing on the wall. Although I loved the people I worked with and the organization I worked for, I also knew I had untapped potential and unrealized dreams.
I began coaching a few clients on the side. After a few months of seeing clients become souls on fire, I knew I was hooked. The extra income helped me realize I could scale this side business and eventually leave my day job.
The model was so successful people began asking if I could teach them how to start a coaching business on the side. I took their requests seriously. I showed them how to use content from my book Your Secret Name content with their clients. In a short time, we certified over a dozen speakers, coaches, and trainers from all over the world. Today we have well over a hundred team members certified on 3 different programs:
Your Secret Name
The Deeper Path
9 Reasons Why Now is the Best Time to Start a Coaching Business
These are the 9 benefits we provide for each of our coaches:
Worldwide Certification: The ability to speak, coach, and train, any individual or group anywhere in the world utilizing the curriculum (Your Secret Name OR Deeper Path OR Dream Job Coach), products, and content.
Total Profit: You keep 100% of the proceeds, honorariums, and income you receive from your services.
Daily Support: As a member of my private on-line coaching group, you are encouraged to ask questions about your business and brand. I’ll respond back with tips, tools, and tactics to help you create quantifiable success and significance as a team member.
Video Training: Take a front row seat and we’ll show you exactly how we run our own live events, coaching sessions, and programs. You’ll also receive videos of my keynote speeches. You’re welcome to customize these for your own speaking gigs.
Audio Training: Listen to over on...