Today marks the day that I walked away from the security of a bi-monthly paycheck and jumped into the wild and wonderful world of entrepreneurship. I could tell you a story about how amazing it’s been, but that’s only part of the story. I want to use this space and time to share my lessons, not so you can skip the scary parts, but so you can be ready to take them on and know that you are not alone.
In 2016 I ended an eleven-year career in association management (well sort of, we’ll get to that later!). I was traveling the world, running three trade associations, making big decisions. But after constant travel, caps on my salary, and burnout from a failing marriage and overworking at the Crossfit Gym we owned, I knew I needed a change. (Full story in Spitting Fire).
On June 3rd everything changed.
Gay Hendricks in his book, “The Big Leap,” said it best “the difference between fear and excitement is breath” and boy did I hold mine in anticipation for what I didn’t know was about to come.
Lesson 1: Remember to Breathe
On day one I had zero clients and fragments of a prospect. What I did have was a naiveté that thought clients would come rushing through the door once they knew I had set up shop. You would think I would be shouting it from the roof tops, “I’m here to help you, come work with me!”
But I didn’t. I got scared and hid in self-doubt. “Who would possibly want to work with someone so new in the coaching world? Why would someone want to work with someone who doesn’t believe in themselves?”
Lesson 2: No One Knows What You’re Doing Unless You Tell Them
I began to peek out and write blogs and network, but I floundered in being able to speak clearly and concisely about what it is I actually did. (Coaches have their own language and it typically goes way over most people’s heads.) I was able to land a couple private clients, but it definitely was not enough to cover my expenses.
Full transparency: In year one, I made 13k.
These are the things coaching schools don’t prepare you for. They don’t want you to know how much you need to do to bring in clients. They want you to believe that all you need to think is happy thoughts or pick the perfect niche.
Lesson 3: Know Your Numbers and Be Honest About How Long You Can Go Making Little to Nothing
I was scared, like I’m going to lose it all scared. I started putting my rent and living expenses on credit cards to keep cash available. I also started getting honest about my fear. You see fear wants you to stay quiet. It wants you to stay in your head. It wants to keep the story replaying. Why? Because it wants to keep you safe in what it knows. Change threatens its relevance. Change shakes up the status quo. Change allows you to unearth things that have been squatting under the surface that have been poisoning the well.
Lesson 4: When You’re Scared, Go Back to Why You Started
I had major mindset issues around worth and money. After working in an industry that is positioned to have staff feel like indentured servants, it was a challenge to think I was anything but hired help. I knew I didn’t want to go back to that feeling. I knew I was meant for more.
Rather than run back to my old employer with my tail between my legs, I sat in the discomfort, I strategized, I talked with people who were more experienced than me, and I really put all of me out there – not just the shiny forced smile version.
And that’s when things started to click in year two. I got selected to coach under an amazing organization who was launching a beta coaching program where I started working with my ideal clients. I spoke to audiences that nodded along with what I was dishing out. I launched my podcast. Most importantly I detached from the outcome of who I was supposed to be as a coach. I became who I always was, a Spitfire!
Lesson 5: Define Who You Are in The Business and The Business will Respond Accordingly
In year two I made $45k which is 3 times what I made in the first year, but still not enough to not be in the hole living in DC. Sure, I could’ve moved, but where I lived became the epicenter of business development, events, and productivity. I dabbled in consulting but realized that wasn’t my best move. I even worked in security at a music venue. Yes, 5’3 me was essentially a bouncer. After trying on all of these roles, I always came back to my desire to work with people who had the potential to make waves of positive change.
I shed all of the non-essential work and focused on speaking, collaborating and investing back in my business.
At the end of year three I had brough in $55k.
In year 4, I made my biggest investment in myself and my business. I signed up for a lifelong membership with The Corporate Agent. My friend Ebony, who is equal parts cheerleader, truth-seer and knowledge dropper, urged me to check it out and I was so happy she did.
Immediately I felt at home with the infectious energy of the group leader, Angelique Rewers, and her generous approach to knowledge sharing and instruction. Nothing was off limits or too basic to answer.
After signing up, within the first quarter I made more than I had in the previous year. By the end of that year, I made more than I ever did in corporate.
What was the winning combination?
· Seeing myself as a business owner.
· Investing in myself.
· Building a process.
· Upping my prices.
· Surrounding myself with a network of smart and ambitious people.
· Saying no to drains on my energy and time.
Lesson 6: Invest in Yourself
As I wrap up year five, even with a pandemic, I am on track to have my best year yet. I am working with amazing clients including my former association management client from 2005 – 2016. I just closed my largest single engagement presenting on a topic that I can geek out on for hours, Innovative Mindset.
Lesson 7: Surround Yourself With People Who See The Best in You
I am working with people who see me and appreciate my gifts and vice versa. We are working on projects that break the mold and get to the root issue rather than dance around in the tactics.
Ultimately, I am really freaking happy for the work I’ve done. For trusting the process even when I didn’t know what was coming. For sitting in the funk and having the courage to ask for help. For giving myself the space to explore and experiment. For granting myself grace and kindness to allow my true self to show up.
Is business ownership for everyone? No.
Is it for me? You betcha!