Ask Bev - How do you take the step from being full time employed to becoming a full time coach?

Here’s the latest question in the Ask Bev series...

“How do you take the step from being full time employed to becoming a full time coach?”

I wouldn’t recommend you run into work with your resignation letter as soon as you’ve become a qualified coach declaring - “I’m off!”

Done properly, the process of taking the step from being full time employed to becoming a full time coach should be very safe and a seamless transition.

When I started my coaching business in Bristol, I was able to hire a room in a therapy centre for £8 an hour. I started with just two nights a week, from 6.30 – 8.30pm which allowed me to see two clients per night.

This got busy very quickly so I then decided that I could fit in a few more clients per evening over the telephone which brought me to 6 clients a week.

Back then I was only charging £75 an hour so that was giving me an income of £450 a week. Considering my costs at the time, this was about £1680 per month, so we’re talking around £18,000 a year on a part time basis.

For some people this part time income is enough and you may decide to keep your full time job and have 18k disposable income for holidays, your kid's university fees, a new car or a deposit on a house.

What generally happens is your coaching business starts to have a snowball effect and you'll start getting new clients from referrals. You’re able to get numerous testimonials and you are starting to build a very robust business.

This means that when the time comes to “jump ship” you have already built your life boat and you are ready to plain sail.

My advice would always be to do this slowly, one step at a time. Let your business prove itself to you before you take the full leap.

Wishing you well

Bev

If you have a business building question around setting up your coaching buisness you can send these in to me via - communications@the-coaching-academy.com