Are you a new coach who’s considering making the jump from employee to entrepreneur? 🤔💭💼 Or even better, are you dreaming of what life as a coach could look like but have been told all your life entrepreneur’s were born, not made? Okay, maybe I’m projecting, but nevertheless, here we are together.
Starting your own business is equal parts terrifying and rewarding. And I think it’s time to just acknowledge the 🐘 in the room. It is tough to go from employee (of any level) to business OWNER.
In this blog post, we’re going to stare it down and call it by its’ name. We’ll explore some of the reasons why it’s hard to go from employee to entrepreneur, then provide tips and insights on how to make the transition smoother to increase your chances of success. 💡💪
Why It’s Hard To Go From Employee To Entrepreneur
👉 Lack of financial stability: As an employee, you have a steady paycheck and benefits that provide a sense of security. As an entrepreneur, you’ll be responsible for generating your own income and benefits, which can be unpredictable and stressful. However, in my opinion, this responsibility as worth it because your fate largely lies in your hands and the effort you put forth.
👉 Different skill sets required: While you may excel at your coaching skills, being an entrepreneur requires a whole new set of skills such as marketing, sales, and financial management. It takes time and effort to develop these skills, and some coaches may not have the patience or resources to do so.
👉 No clear roadmap: As an employee, you have a clear job description and expectations to meet. As an entrepreneur, you’ll be creating your own path, which can be daunting and overwhelming. It requires a high level of creativity, resilience, and self-motivation.
👉 Emotional toll: Starting a new business is emotionally taxing, even on a good day. This is true especially if you’re used to the stability and routine of being an employee. You’ll face new challenges, setbacks, and failures, which can be discouraging and demotivating. It’s important to have a strong support system and mindset to overcome these obstacles.
Tips For A Smooth(er) Transition From Employee To Entrepreneur
👉 Develop an entrepreneurial mindset: This includes being adaptable, creative, resilient, and having a growth mindset. Read books, attend workshops, and seek guidance from mentors to help develop this mindset. Check out our blog on this very topic, here!
👉 Start small: Don’t quit your day job right away. Start by offering coaching services on the side and gradually build up your business. This will help you build a client base and generate income while minimizing risk.
👉 Build a support system: Surround yourself with people who believe in you and your business. This can include family, friends, mentors, and coaches. They can provide emotional support, guidance, and feedback. An Entrepreneur Coach may be an excellent fit for you, learn more here.
👉 Invest in yourself: Take courses, attend workshops, and seek out resources that can help you develop the skills you need to run a successful coaching business. This can include marketing, sales, and financial management.
In Conclusion…
Going from employee to entrepreneur is not an easy journey, especially for new coaches. However, with the right mindset, skills, and support, it is possible to make a successful transition. 🚀
If you want to learn more about developing your entrepreneurial mindset and increasing your chances of success as a new coach, read my post on “Developing Your Entrepreneurial Mindset.”