The first 1,000 days of any business are the most challenging. They require a tremendous amount of energy. Financial energy, physical energy, emotional energy.
If you don’t have financial, physical and emotional reserves, you probably won’t make it.
Before you quit your job as a coach, put aside a year’s income, get in the best shape of your life and practice signing clients before you need them.
(If you have a client who wants to quit their job to become an entrepreneur – recommend that they put aside a year’s income, get in the best shape of their life and sell their product or service before they start a business).
Slowing down will almost always help you to speed up…
3 years
Assume that it will take 3 years to launch your coaching business:
1. One year to screw up, make mistakes and fail. Again and again and again.
This is the year you will say yes to everything.
This year needs courage.
2. One year to discover that success follows failure. But also that failure can follow success.
This is the year you will find out what lights you up.
This year builds competence.
3. One year to start turning business away.
This is the year you will discover that they need you more than you need them.
This year builds confidence. (Confidence is a result, not a requirement)
4. Two years to test you…
Hang on. You said 3 years, Rich. Why are you talking about two more years?!
Because life isn’t always fair. Business success doesn’t always go in straight lines.
Being a professional coach isn’t for everyone. And that’s ok. Better you know that now, than down the road.
As George Leonard said: “Perhaps the safest prediction we can make about the future is that it will surprise us.”
If you don’t stay in good shape… If you don’t keep saving money… If you don’t make time for your relationship, your family and your friends… You won’t have the ability to ride the ups and downs of business.
Can I promise you that it will take 3 years to build a successful coaching business?
Absolutely not.
I have seen people do it in one. I have seen people quit after two. It took me around four.
What I can promise you is that the world will challenge you. Your wife won’t understand your career choice. Your husband will be mad you’re not making enough money. Your clients will quit. The economy will go through a recession. Your accountant will tell you to get a real job.
What I can promise you is that if you are not in it for the long haul you won’t be in it for long.
And if you are in it for the long haul, I’ll be right here, alongside you.
Love. Rich
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