Know Your Floor: How to Go Full-Time in Coaching | #509

Welcome to Daily Paths Podcast. I'm your host, Joe Winters Jr. Today, we're going to talk about going full time in your coaching business. I think this is something that a lot of new coaches make harder than what it really is.

It's something that is not complex. It's very simple and it does require hard work. But I think a lot of coaches make it harder than what it is because number one, based on the type of profession coaching is, it makes people believe that they have to come into the coaching industry with a certain level of success in coaching from day one. And that's not true.

Okay, coaching, just like everyone, everything else has a starting point. We all start somewhere. What I find is that there's a lot of coaches who, number one, they have a hard time going full-time in their coaching business because they often lie to themselves and to others about where they actually are in their journey. Okay.

You do not have to, from day one of coaching, be making hundreds of thousands of dollars, millions of dollars with dozens of clients, hundreds of clients, thousands. You don't need that from day one. Okay. It is okay to enter into the coaching space and start somewhere just like everyone else.

So the first thing that I'm going to say when it comes to going full time in your coaching business is be graceful to yourself and do not compare yourself to people that are far beyond what is required for you to just simply become a professional coach in the first place. Okay, what do I mean by becoming a professional coach? You need to know your number and that's it. knowing your number is the number required for sustaining the lifestyle that you have.

It's not your aspirations of where you want to take the coaching business in the long run. It's simply what amount of money do I need in order for me to continue taking care of my family? I have spoke to so many coaches where when I ask them, you know, what is it going to take for you to go full time in your coaching business? They'll give me a number that's far beyond what their employer is paying them Or far beyond what their business is generating for them So they may say, you know, well I make a hundred thousand dollars right now I take home hundred thousand dollars right now but if I was going to walk away from You know um what i doing I would need two hundred thousand dollars or three hundred thousand dollars and that never really made sense to me because especially for people working for others it's like so you mean to tell me you're willing to accept less money working for someone else than you then you would need to work full-time for yourself like i've always felt like it should be the other way around if i was making a hundred thousand dollars a year working for myself and you wanted me to walk away from my business, well, firstly, me personally, I'm the type of person, you want me to walk away from my business, I'm going to need a million dollars.

If not, I'm fine working for myself. Very simple for me. So number one, be graceful to yourself. Don't compare yourself to people that are far much ahead of you.

Actually understand you're a number that's required for you to be a professional coach. What is the number that's required for you to take care of your family? Number two, decide that you are going to do what's required for you to be successful at becoming a professional coach. What do I mean by do what's required?

At the absolute end of the day, in order to go full-time in your coaching business and be a professional coach, you need to be great at generating leads, closing deals, and fulfilling the service that you provide. And if you don't care to be great at generating leads and closing deals, If you don't care to invest the time to do what's required, then that means you should have the money to invest to do what's required. But at the absolute end of the day, whether you're doing what's required because you have the time, meaning you can get on LinkedIn and generate your leads and leverage a podcast in order to nurture those leads and close large deals and then fulfill the service.

either you have the time to do it or you feel as if you don't have the time but you have the money to pay someone else to do what's required for you so that way you can continue to so that way you could coach other people right either you have the time or you or you have the money now for the people that say they don't have either the reason why those individuals are having such a hard time is because they're losers and no one wants a coach that's a fucking loser. I remember telling some family members of mine, one of the worst things for a kid is to be coached by somebody that is a loser.

As my daughter growing up I will never allow my daughter to be on a team where the coach is a loser I am extremely blessed with everything that I been through in my childhood that I played on teams where the coaches were winners And I really do mean that. I don't know where I would be today without the coaches and the mentors that came into my life when I was young. I know from a very early age, having a loser for a coach is a very, very, very harsh reality. the people that they don't have the time to do what's required to go full time and they don't have the money to pay someone else to do what's required.

That's an individual that is making all the excuses in the world for why what they claim they want will not happen. Does that sound like a coach that could actually help other people achieve what they want? and the final thing that i'm i would say that's required for going full-time really i'm not even going to say this required but i'm going to say this makes going full-time easier which is niching down can you or niching down however you pronounce it can you generate a full-time income as a coach without being a specialist absolutely but it is harder to compete I will say that it's going to take even more time than if you specialized.

And quite frankly, I wouldn't even really look at the amount of time that it would take. Because again, going back to point number two, you have to commit that you're willing to do what's required. So for me and my business, here's the thing that I learned. All things considered, using the same amount of time when I was operating as a generalist versus specialist, I was able to be full-time in my coaching business with both.

But one of them required less clients who paid me greater fees, and I was able to provide them bigger results. That is the difference in making the decision to niche down and specialize over being a general coach. I'm not gonna say you know oh when you're talking to everybody you're talking to no one because Realistically, that's not true When you're talking to everyone there's going to be people that are willing to pay you for sure The question is how much are they willing to pay you When you are talking to a specific person and the specific problems they have and you understand their specific background you understand their specific life you understand where they're going.

You know the lingo. You know the vibes. You literally, everything about them, you know. You breathe.

You live. You understand. And that person will pay you premium fees over the people that come from the general population in which you were speaking to everyone. Okay.

So going full time in your coaching business, the three things that I share with you today. Number one, be grateful to yourself and do not compare yourself to people that are far beyond what you need in order to be a professional coach. What do you need to be a professional coach? You need to know your number.

your ceiling. I mean, I'm sorry, your floor, not your ceiling. Okay. It's great to know both.

I'd love to help you build a podcast and help you achieve both. But it's very important for you to know your floor because ultimately that's the thing that matters. Being able to take care of your family, doing this great work that we call coaching. Number two, commit to doing what's required to go full-time in your coaching business.

what's required. You have to be willing to do the lead generation. You have to be willing to close deals. You have to be willing to fulfill the service.

Okay. If you do not have the time to generate leads and close deals, the only other alternative is that you have the money to pay someone else to generate leads and close deals. Either way, you have to commit to doing what's required. And then last but not least, niching down and specializing.

Making the decision to specialize over being a generalist, I promise you in terms of time invested with the same amount of work, your results is going to be monumental compared to the generalist. Thank you for tuning in to another episode of Daily Path Podcast. If you're interested in attracting premium clients and empowering the people you serve by building a podcast, visit joewintersjr.com forward slash start and book a discovery card with me today.

Until next time, have a blessed week.