You can’t wait to ditch your 9-to-5 job.
Your cubicle feels like a prison cell. You don’t have much in common with your co-workers. The work is boring plus it doesn’t pay much.
Your true love? Coaching.
It’s your passion. It lights you up and you love every second of it.
That’s why you started your side hustle as a part-time coach.
You coach after hours, on weekends and whenever you can find time to squeeze in a client session.
And you’re pleased to see your hard work is starting to pay off. Things have been going fairly well and you’re making some real money as a part-time coach.
You can’t wait to fire off that resignation letter to your boss but a voice in your head keeps telling you to wait.
You’re not 100% confident that you can make this part-time coaching gig a full-time success.
If you’re confused or on the fence, these 4 signs will help you decide if you’re ready to be a full-time coach.
Sign #1: You can handle the finances
Going full-time isn’t something you do just because “it feels right.” You need to plan everything out in advance — specifically your finances.
Make sure you’ve saved at least 6 months to a full year of living expenses before you quit your 9-to-5.
This may sound excessive but it’s not.
Having a sound financial foundation will get you started on the right foot. One of the biggest benefits is that you won’t make bad choices just to make ends meet.
I can’t tell you how many amazing coaches end up working with nightmare clients or too many clients, just to pay the bills.
This will harm your health and your reputation.
So, do yourself a favor and create a solid financial foundation before you take the leap into full-time coaching.
Sign #2: You know them better than you know yourself
Your ideal clients. You know their pain, their aspirations and their dreams.
You think of them often. Maybe you even dream of them.
This shows you’re ready to create a successful coaching practice.
When you truly understand your clients, you can serve them at the highest level and create transformational results.
When you do this consistently, your reputation as a rockstar coach is sealed.
The best thing about this is that you won’t have to look for clients – they’ll come looking for you.
Which leads me to the next sign…
Sign #3: You’ve experienced a “reach-out”
You’ve had at least 1 potential client reach out to enquire about your coaching services.
This is very good news and it means a number of things.
For one, you’re beginning to gain traction as a coach and you’re becoming known in your area of expertise.
And here’s another…
Your marketing campaign — even if all you’ve done so far is experiment with a few basic marketing techniques — is starting to work.
Your messaging is targeted and clear enough to connect with your audience.
When clients reach out, it’s a sign you’re on the right track with your marketing.
Sign #4: You have a solid Plan B
Your coaching practice doesn’t take off the way you hoped…do you have a plan B in place?
Yes, it’s a sticky question but you need to answer it.
Entrepreneurship involves unwelcome curve balls. It’s an unpredictable game and you need to be prepared for surprises that can throw you way off course.
For instance, you could project you’ll reach — or exceed — your 9-to-5 income in 6 months with your coaching practice, but what if this doesn’t happen for more than a year?
There could be many reasons behind this.
Rising client expectations. An industry-wide shift that affects sales and sign-ups.
Maybe there’s an economic slowdown that no one saw coming.
Just to be clear, I’m not saying curveballs are good reasons to give up.
Far from it.
The secret to survive and thrive in the unpredictable world of entrepreneurship and full-time coaching? Have a solid Plan B that you can fall back on until you get back on track with your practice.
This could mean taking on another part-time gig or even going back to a 9-to-5 for a while.
Remember, the point is to make your dream of becoming a full-time coach, your reality.
Don’t get distracted or disillusioned if it takes a little longer or if you have to travel down an unfamiliar route to get there.
These are just 4 of the most significant signs that tell you you’re ready to become a full-time coach.
Use them as your guide. Ultimately, you know your situation best.
Whether you decide to hang on to your 9-to-5 a while longer or dive into full-time coaching tomorrow, know this…
Running a thriving coaching practice isn’t rocket science, but it isn’t a walk in the park either.
It requires discipline, focus and dedication.
But here’s what I can promise you…
If your heart belongs to coaching, it’s worth all of the hard work, time and effort it takes.
A successful coaching practice will fill you with that awesome feeling of achievement, abundance, fulfillment and freedom.
There’s nothing quite like it.