Business takes time.
One of the biggest mistakes I see most people make
when pursuing their dreams is they quit their job.
They burn all the bridges.
And then a few months later or a few weeks later
they end up broke and burnt out.
Making it work
is about finding the right time to transition.
You love your dream.
You wanna pursue your dream.
You want your dream to come true.
But one of the worst things you can do for your dream
to come true is to quit the job that you currently have.
And here is why quitting job doesn't work.
You see, as society, we've glorified the hardship stories.
We hear success stories of other entrepreneurs
that seemingly quit everything and left everything
and bet everything on their dreams.
And because they bet everything on their dreams,
finally, they were successful.
But more often than not, as you dig into the story
of these entrepreneurs, except the movies,
but the real story of entrepreneurs, you find
that most of the entrepreneurs never truly quit everything
before they got successful.
They either had a side job,
they were studying in college.
They usually ended up starting these companies part-time,
and only when there were clear signs
that the company was successful,
that what they were pursuing was successful,
was when they actually quit their job.
So thinking that quitting your job and burning bridges
is the way to build a successful company
may just not be true.
And here are some of the challenges
that you will find yourself in
if you did quit your job, and burned all your bridges,
and just said, "I'm gonna go and start my business."
I can confirm that you will have one
of these experiences because I worked with many coaches,
many entrepreneurs who did burn their bridges,
who did quit their jobs, only to find themselves
in great misery and pain just a few months later.
The first thing that happens is the moment
you've quit your job,
you've left the security of your income.
And that leads you to anxiety of future income.
See, currently, if you're in a job,
you have certain certainty.
You know exactly how much your paycheck is gonna be.
You know how to budget for your expenses.
You maybe even are saving a little bit.
But the day you quit your job,
if you've not planned enough,
if you've not thought through that enough,
just because you thought there was this dream
that you wanna pursue, and you wanna go all-in on that,
what will happen is immediately in a few weeks
you will start to realize
that business takes a long time,
and business needs expenses.
And when there is no incoming income to your life,
it is hard to find money to invest into your business.
Which leads you to have future anxiety,
for you to constantly be worried of where
and how would your next clients come from.
And this anxiety for money leads you to become desperate.
You become desperate to get a client.
You become desperate to somehow enroll somebody
into one of your programs.
And desperation is not a very good strategy.
It's not a very good place to operate from
when you are enrolling clients into your practice.
When you are desperate, people can feel your desperation.
Have you ever tried to desperately date a girl
or date a guy, and they always ran away from you?
They always took advantage of you?
Well, that happened because they can feel your desperation.
And when you are desperate for anything,
you are really not manifesting it in your life.
You're actually pushing it away.
And because of this desperation, this anxiety for money,
what tends to happen is
that you give very little focus to creative thinking.
And business is about creative thinking.
It is about you getting out of your comfort zone.
Creating something that is not already present in the world.
Creating something that is useful for the world.
And when you wanna build a business,
you're always creating something more interesting,
more powerful, more useful.
But when you're desperate, when you're anxious,
you're not in your creative mode.
You're not in a place where you can actually create
something that will be useful for the world,
taking away the one big thing that distinguishes you
from the rest of them.
And when these things happen over a course of several weeks
and several months, you start to doubt yourself.
You start to wonder if you were ever going to be successful.
If you are a good coach.
If you can be a successful entrepreneur.
If you can make the money that you always wanted to make.
If you can live the dream that you always wanted to pursue
and wanted to have in your life.
And when you doubt yourself,
you lose confidence in yourself.
You lose confidence in your capabilities.
You lose confidence in your dream.
And then you may end up sabotaging your dream.
Not only the dream that you now have,
but all your future dreams,
because you start to create this belief
of I'm not good enough.
I'm not able to make business successful.
I don't know enough about business.
Am I really meant to be living the dream life that I want?
None of those beliefs are really helpful
in creating a life that you truly desire.
So this one act,
this one act that may seem right,
to quit everything, and burn all the bridges
and pursue your dream, may sound really romantic,
but may lead to a long term consequence
where your life may not look as you always dreamt it to be.
Now, when I say don't quit your job, I don't mean
just don't quit your job.
I simply mean learn how to transition better.
Learn the skill of how can we transition
from one career to another.
How do you transition from your job
to the business that you wanna build?
And here are some key questions that you wanna ask yourself,
so you can discover how and when and where
is the place that you are willing to transition,
or what are those parameters to identify,
so you can know that now is time for you to transition.
The first question I want you to ask yourself
is what are the minimums that you need for your life?
By minimums I mean, what is the minimum amount of money,
minimum amount of quality of life,
minimum amount of free time,
minimum kind of experiences that you want in your life.
Now, this does not mean that you think
about the absolute minimum, like living on beans and rice.
That's not what I'm trying to say.
When I say minimum, it means minimum that fits the standard
and quality of life that you currently have.
You see, none of us are excited about saying,
"Oh, I'm gonna reduce the quality
of my life to pursue a new dream."
It will cause anxiety for you.
You wanna maintain the quality of life that you have.
So what you wanna ask yourself is maybe there
are certain areas you're overspending a little bit.
Some things that you don't really find joy in,
but you still do it because, why not?
Ask yourself, what are those minimum things
that you find joy in that maintains your mental peace,
your physical wellbeing, your spiritual wellbeing,
makes sure that you're eating nutritious food.
Things that are really important
for us to have a good quality of life.
It may not be the highest standard,
but it's a high enough standard where we feel good
about ourselves and we can operate really effectively.
Find that minimum.
Because that minimum may be one of the guiding points
for you to know that's the minimum standard of life
I would like to live for a certain number of months
while I'm building my career.
Which also begs the second question.
When you are about to transition,
you need to ask this question to yourself.
How many months can I go without any income?
The reason why this question is so very important
is because when we try to burn our bridges, quit our jobs,
we very rarely do sit down and go,
"How many months will it take for me to build a business,
and do I have money for that?"
Because sometimes you may quit too early,
and you may have only saved up money for a month
or two months.
But business doesn't happen that fast.
Business takes time.
What you ideally wanna do is to have minimum
of six months of income in your bank account,
or expenses in your bank account before you quit your job.
And this is just the money that you need
to live comfortably.
On top of that, you also wanna find out
what are my potential expenses in the business
that I will be incurring over next six months?
Do I have that already in my bank account?
So you need to have enough in your bank account to take care
of your business expenses for at least six months,
and six months of your personal expenses,
giving you a window of six months to start your business.
Not only do you need a reserve in your bank account
to take care of yourself and take care
of business in financial terms,
you also need a clear action plan.
More often than not,
I've seen coaches quit their jobs
without having a clear marketing plan,
a business plan, a plan of action that they will be taking
for the next six months consistently
so they can find success in their coaching business.
When we start a business without any clear plan,
we are letting everybody else decide what we are gonna do
in the next six months.
Now, that's not a very effective way of building a business.
What's really effective is you knowing where you need to be
in six months, and creating a plan for it.
And saying, "This is what I'm gonna do day to day,
week to week basis for me to be able to create the result
that I need in six months from now."
Which really presents the final question
that you want to have, which is
are you clear exactly what needs to happen
on a daily basis, as if you were going into a job,
for you to be able to create a result in your life?
You see, starting a business is one
of the most difficult things that you will do.
When it is at a certain level,
it's easier to grow a business.
But to start it is a heavy lift.
And so you want to know exactly what you're gonna do.
9:00 a.m., 10:00 a.m. in the morning,
when you wanna start your day,
who is it that you're calling?
How are you prospecting?
How is your product getting developed?
What are you doing to get the product developed?
And you wanna find those exact action items
so you don't fall into the trap
of, "Oh, I have my own business.
Let me just watch a Netflix movie in the middle of the day."
You don't want to do that.
You don't want to go and take long massages
before you have actually done the work of the day.
It may be very enticing for a couple of days,
and you can do that for a couple of days
as you quit your job and as you transition.
But eventually, you want to be committed to take action
on a daily basis, on an hourly basis, on a weekly basis.
You want to know where you are right now,
and you want to know after the end of every day
how far you've progressed.
And it's important that you make progress every single day.
You will eventually have freedom of time.
But when you are starting, when you're transitioning
into a new career, you wanna be hyper-focused.
You want to think about how you are creating a baseline
or some level of success for you
so you can have the freedom of time in the future.
So now you know exactly what questions to ask yourself
and find out if you're ready to transition.
But there are some signs that will be present
in your life right now, or will get present in your life
in the coming few days, that will tell you exactly
that maybe now is the perfect time to transition.
Now, it changes, and it's variable from person to person,
but here are some clear signs that I think you
may be able to identify in your life
as you are transitioning careers.
The first sign that you may be ready to transition careers
is that you are more excited about
what you are doing part-time, or in your extra time,
versus what you do in your full-time job.
When you have more excitement
for your part-time work than what your full-time job is,
it is a big possibility
that now you are ready to transition.
That you are ready to do what you do part-time, full-time.
The second sign is where you are making enough money
that you may be making in your job,
or somewhat close to what you make in your job per hour,
that you are making in this part-time career.
The reason why this is a good measure
is because it gives you certainty of income.
And when you have certainty of income,
that may happen potentially as you transition,
it gives you lack of anxiety.
It takes away the desperation from your business.
It gives you a little bit of a lifestyle choice
that you can make,
because of which you are always comfortable,
and you're really good at doing what you wanna do.
The third thing that may give you confidence
in your future career,
and that you're ready to transition
is that you're really confident in your skill of coaching.
If you're really confident in your skillset,
there's a big possibility
that now you're ready to take this career full time.
And lastly, is you have a waitlist of clients.
You have a waitlist of clients waiting to work with you,
and you can't wait to get to them
and to be able to work with them.
This may mean that you're really good at what you do,
and that you understand the business of coaching.
But now you know exactly what those signals might be
for you to transition into a new career
as a full-time coach.
But you may wonder, what next?
There are six very crucial steps for you to take
when you're transitioning from a part-time coach
to a full-time coach.
In this video,
I'm gonna show you exactly those six steps,
so you can have a stress-free transition,
and you can lean into your full-time coaching career.
See you there.