5 Things to do Before You Leave Your 9-to-5
I know it. I’ve been there.
Slumped on the bathroom floor, crying so hard that no sound was coming out of my mouth. Tears burning my swelling eyes. Pain in the pit of my stomach. Crying out, “Why?!?!”
The phrase, “God doesn’t give you more than you can handle.” popped into my head. And I shouted to God, “I can’t handle ANY MORE!!!!!”
This is the state my corporate job put me into. Cortisol pulsing through me. Mental and physical anguish tearing me apart.
EVERY SINGLE DAY I wanted to quit. Just leave. Walk away and never look back.
But I didn’t.
I knew that if I didn’t have a strategy in place for my online coaching business, I would fail as an entrepreneur and be in an even worse place in my life than I was working my corporate job.
And because I want YOU to success in your business, I’m sharing with you the 5 things you need to do before you leave your 9-to-5 job.
1. Start Your Coaching Business
Quite likely, you have already felt your passion calling you…pulling on you…pushing you. Maybe fear gremlins have got you and you’re worried you don’t know what to do. Or maybe, you’re hearing an old belief in your head that’s telling you, “You’re not good enough.” And think, “But I’m not ready yet.”
Here’s what I want you to do…START.
You ARE good enough and you will figure out what to do.
Starting your online coaching business now will help you build the foundation of your business so when you ARE ready to leave your day job, you already have things well under way.
If you’re feeling uncertain about your abilities, start out by coaching for free! Doing this will build your confidence and help you create a structure for your coaching program. Start with a 3-month period and see how it goes. Your clients will be thrilled and they may even turn into paying clients!!! Plus, this will give you a feel for the work you believe you want to do and solidify whether or not it IS truly what you want to do. Practicing your skills through free coaching will help improve your confidence and make you feel more empowered in your abilities as a coach.
If you work in an office, working your online business from home will be quite a change. Yes, working from home comes with some nice perks, like working in your jammies if you want and doing laundry during the day. It also comes with freedom and flexibility that are very tempting to slip into becoming unmotivated and maybe even lazy. Being able to work from home and be your own boss, building a successful business, takes discipline and self-motivation.
And remember, being an entrepreneur is not a get-rich-quick kind of thing. When you make the decision to run an online business, it’s a marathon, not a sprint. You need to be committed for the long haul. Building the kind of business and life you want is an investment of time, money, effort, and energy. So, starting your “side hustle” while you’re still working your day job will give you a good taste of what’s to come. Because success does NOT happen overnight.
2. Get Your Finances in Order
If you’ve been following me for a while, you know about the financial mess I made (and why) of my life in my youth AND how I’ve managed to pay off two huge loans and my credit card. You can check out THIS BLOG to read more about it. This life experience is what helped me realize the importance of getting your finances in order BEFORE you leave your corporate job.
You want to create a profit and loss statement where you detail everything you’re spending on your business and everything you’re making from your business. Create a budget for yourself of where you want to invest your money. Think about things like hiring a coach, attending networking events, buying tools and systems to support your business, get a separate cell phone for your business (versus your corporate job).
I always recommend starting three different accounts at your bank: 1) emergency fund, 2) short term fund, and 3) long term fund. At BARE MINIMUM, you want to create the emergency fund. This account will be where you build your nest-egg of at least 6 months’ worth of money that will allow you pay all of your minimum living expenses for those months when your income from your business dips. Because, you know, when you leave that steady paycheck behind, your income will likely vacillate, especially in the first few years.
Use your corporate paycheck to 1) fund your business in the beginning and 2) create an emergency fund. Not making enough money in your business is one of the biggest things that can cause you to want to quit. Take steps NOW to alleviate the stress of not having enough money to pay your bills by building a stash of money.
3. Hire a Coach
Because the online world and becoming an entrepreneur is so vastly different from working in corporate America, you won’t know what you’re doing in the beginning. And that’s okay, none of us did! 😊 As you’re thinking about your finances and setting yourself a budget for where your money is going, I highly recommend you work in money to hire a coach.
A coach will help you learn what you need to know in order to build your successful, profitable business. I urge you to take your time in hiring a coach. This person is someone you want to follow for a while to get a feel for her, what she offers, her work ethic, her vibe, the results she’s gotten for her clients, and more. She is someone you want to resonate with, who you trust, and who you KNOW will help you propel forward in your business. You will be paying her money to do her job…make sure she’s the right person for you.
4. Create a Business Plan
Your “side hustle” is a business. You want to treat it like one.
Create a business plan. Be sure to include your…
· “Why” behind your business.
· Mission, vision, goals.
· Ideal client / target market. What her pain points are. How you solve them.
· Action plan for bringing income into your business: all the things you plan to offer (one-on-one coaching, group coaching, courses, books, retreats, webinars, podcasts, etc.), including their prices.
· Best projections of your profit and loss statement, including budgeting for hiring a coach, hiring a virtual assistant (VA), attending events or masterminds, paying for systems, etc.
· Strategy to make it all happen.
Remember, your business is a long-term plan for your life, not a fantasy of fast, easy money. In the beginning, it’s a lot of work and will take dedication. Once you find your groove, you’ll begin to create the balance you so desire in your life.
5. Reprogram Your Mindset for Success
I’ve saved this one for last because it is the MOST IMPORTANT.
You did all the “right” things, what you were “supposed to do.” You went to college, got a “safe and secure” 9-to-5 job in corporate America with a 401K, pension, and benefits, maybe you even got your MBA like I did. You ALSO, ended up miserable, stressed out, unhealthy, having NO balance in life, and no social life because all you do is work your tail off to make someone you don’t even know rich.
Finally, you started to wonder, “Is this really it? This is what I have to look forward to for the rest of my life?” Through the anxiety that has you feeling overwhelmed and suffocated every…single…day, you felt a pull to do something more with your life. You had a desire to truly help people and do work that is meaningful and valuable, to make an impact on this world.
And so, you started your business. Like most of us, you likely started out as a solopreneur…you know, you are the CEO of your business…and you’re the assistant, and the technology person creating your website, and figuring out social media, and creating content for your clients, and trying to figure out how to be a master at marketing, and building relationships, and perfecting your selling skills…you’re doing it ALL.
And yet…your business isn’t flourishing. The clients are non-existent…and so is your income. All you’re doing is investing with no return on your investment. You start to doubt yourself, your fear gremlins are biting at you, you wonder if everyone was right, that “you’re not good enough” and “you’ll never make a living being a coach.” You feel deflated, defeated, and you want to give up.
Your fabulous business that you created to help others create the lives of their dreams while creating the life of your dreams feels like it’s slipping away.
IT DOESN’T HAVE TO!!!
What I learned on my own journey is that the mindset of a successful woman in corporate America is VERY different than the mindset of a successful female entrepreneur. Without creating a mindset ready to propel into growth and success, the rest simply doesn’t matter.
Get yourself on the right path NOW and start reprogramming your mindset to serve you instead of hold you back. And if you’re struggling, mindset and empowerment are my specialty; reach out to me HERE and let’s chat about the possibility of working together so we can get you on your way to building that fabulous business you desire and you’re worthy of!
And you can finally escape your 9-to-5 prison!
P.S. Are you playing small as an entrepreneur? Read 3 Ways to Know if You’re Playing Small as an Entrepreneur.