30: How to Transition from Your Job to Full-Time Coaching

This episode is part of the Start Smart series. It's worth the listen because this topic is eye-opening. And, if you're planning to transition from your job to full-time coaching, I've given you a 5-step plan near the end of this episode. Creating a smart transition plan to move into full-time coaching is an important step. If you're serious about making your dream happen, this is something you'll want to do with the help of someone who has transitioned.Sometimes coaches hire me when they don't have a current job. They've been raising kids or were laid off or they quit a job to create their coaching business. They have plenty of time to work on building their business foundation and launch in a systematic, organized way.Obviously, there are some huge advantages to that scenario. But there are also some hidden challenges. If you're not currently in the rhythm of working for a living, you might have trouble finding that rhythm and dedicating time to your business.On the opposite end of the spectrum is the person who currently has a full-time job, kids, and a busy life who wants to become a coach and shift to full-time coaching "someday."If you're this person, you've put time into training as a coach and into business development but haven't made the shift.Maybe you're dabbling at coaching and have a low fee client or two.But leaving your regular paycheck and benefits, especially when you have a family, is a risky step to take. It requires a big dose of courage and chutzpah.Some coaches never get off the bench and into the game. That's not you! That was the apt metaphor used by a coach I spoke with recently.The truth is that entrepreneurship — and that's what becoming a coach is — is risky business.No doubt you've heard the odds. They say 1 in 5 make a sustainable livelihood and that goes down over time.Entrepreneurship has a bunch of rewards that frankly I wouldn't want to live without. Freedom (I truly set my own schedule and work a lot less than I did in corporate.)Being your own bossGetting to bring your whole self to what you doInnovating and creatingThe huge feeling of accomplishmentA Common Myth About Coaching Business Startup BustedThe beauty of a coaching business is that there's no real barrier to entry except having the grit and focus to take the risk. The truth is you don't even have to have training or certification, although I think it's a good idea to be a trained coach.There's a common misconception that I run across and it's what inspired me to do an episode on this topic.Recently, I was having an On Air Coaching session —which hasn't aired yet — with a smart, confident man who has been coaching on and off (more off), while raising a family and engaged in a successful mid-management career.Odell was encouraged to become a coach by his pastor and friends. That's what motivated him to start Googling for help and he found me through Prosperous Coach Podcast.Odell said that he expected to replace his current income by working coaching as a side gig for two years.I wince when I hear people say that they'll transition from their full-time job to full-time coaching when they replace their income from their current job.Why? Because ...... Learn more about transitioning from your job to coaching here.