Well, it’s official.
You KNOW you are meant for something more than sitting in an office all day, working for someone else and building their business.
You want that freedom – location freedom, financial freedom. But most of all, you want to wake up each day with fire and passion. Immensely grateful and blissfully happy that you get to serve others with your coaching business.
That you’re making an impact, and living out your purpose.
The entrepreneurial seed had been planted.
But…there’s this teensy problem.
You are STILL chained to your 9-5!!
You SO BADLY want to go full-fledged in your online business. You’re thaaat close to clicking “send” on your resignation letter email (let’s be real: it’s been typed up for weeks!).
BEFORE you do it though, let’s run through this checklist of 9 milestones you need to reach so that you can be fully confident leaving your 9-5.
Validate your business concept
I get it. Sometimes an idea pops in our head, and we believe we’ve discovered THE perfect offer for our coaching plans.
And you might be totally right!
We still need to do our market research.
Does this offer truly fill a need for people? Are we solving a real problem within our niche?
We need to know with 100% certainty that before we quit our stable jobs in order to jump into an online business, we’ve validated our idea in the first place.
We need to know that there IS a demand for our offer, so that we KNOW we can make the money.
Create a financial plan
Next, it’s time to sit down and crunch the numbers.
What do we need, bare minimum, for survival? This includes rent or mortgage, food, gas, utilities, and other bills.
Put aside an emergency cash buffer, too.
Understand that we might be entering a season of living more frugally while we’re building our online coaching business.
So having a clear financial plan is a smart move that can help alleviate stress or overwhelm when we’re considering quitting that 9-5.
66% income replaced
To get even more specific with the finances, I recommend that before you quit your day job, you have about 66% of your income replaced.
You’re side hustling right now. So the truth is, there IS a cap on how much time and energy you are able to dedicate to your coaching business.
Once you quit, you gain 40 hours of time back, which means you can finally turn your full attention to your business.
And OF COURSE, your income will skyrocket!!
Run a “beta” program
Or work with clients a few times in exchange for testimonials and social proof.
Again, this goes back to validating your business idea. You can offer your program with a few clients, at a slightly discounted price, so that you can test the waters and work out any workflow kinks.
You’ll also gain tremendous confidence and motivation, so that once you’re in your coaching business full-time, you won’t be so nervous or doubtful about whether you made the right move in quitting your 9-5.
Develop a client-getting system…
…that is consistently and predictably bringing in clients.
Don’t fall victim to the feast or famine phenomenon. You don’t want to quit your 9-5, only to be struggling making ends meet with your coaching biz.
You NEED a custom gameplan for bringing in a stream of consistent leads.
(psst. I believe it should be simple and FUN, too!)
If you’re overwhelmed with knowing where to start, I would love to help you. You can find out exactly how I can help you HERE.
Fill up your program or secure 1-1 clients
Woo-hoo! You’re almost ready to trade your day job for your dream online coaching business!
In order to feel really prepared and secure when you submit your 2-weeks notice, let’s book our calendar with some clients!
Knowing we have a few clients in the pipeline takes some pressure off us when we inevitably have those awkward conversations with co-workers who (for better or for worse) are curious about “our next step.”
Get involved with a community or coach
Being an online entrepreneur is a phenomenal experience!
We get to do what we LOVE, serve others, and make whatever income we set our minds to!
BUT…it can also be a little lonely.
That’s why it’s a really good idea to get involved with a community of fellow entrepreneurs who are in the same boat as you. Find Facebook groups you feel comfortable in. (Hint: mine is pretty amazing! Over 20,000 members going strong!)
Bounce ideas off of one another, connect and cultivate friendships over virtual coffee dates, and network.
I believe it’s also worth thinking about investing in a coach for yourself! Someone who knows your personal story, and understands what obstacles may arise as you transition from employee to entrepreneur.
It’s always helpful to have someone in your corner, whether it’s to talk you through the rough patches or to celebrate your wins!
Prepare your mindset!
The security of a traditional 9-5 is a safety net for a lot of us, so as you’re getting ready to quit you miiight experience some “freak-out” moments.
Like, “Wow, I can’t believe it, I’m finally living life on MY terms, I’m FREE!”
…Quickly followed by, “Omg, what have I done, did I just ruin my life” kinda talk.
Just know, these up and down emotions are totally normal.
But also know: if you want to go all-in in your online coaching business – especially when you’re in the beginning stages – you need to have grit and determination.
You need to show up each day, and be consistent, even when you don’t feel like it.
You need to believe that your dream clients are out there in abundance, and that your business WILL succeed.
Put together a worst-case scenario plan
Here we are, babe. You’ve validated your offer, put together a financial plan, run a successful beta program, and know your system to continue getting clients, consistently.
You are READY to hand in your notice.
Well, after this ONE last milestone!
Obviously your coaching business is going to be a roaring success, but JUST to be extra super safe, let’s put together a “worst-case-scenario” plan.
IF you needed cash fast, what is plan B? Are there side-jobs you can go after? People or connections you can reach out to if you find yourself in a pinch?
I know we don’t like to think about a “Back-up Plan,” but it’s an important safety measure to have in place.
Knowing you have a back-up plan can be the final push you need to confidently take your final bow to your 9-5, and skip happily towards your new adventure.
We’ve made it, girlfriend! If you’ve hit these 9 milestones, you are READY to kiss your 9-5 goodbye, and turn all your time and attention to your coaching business!
This is such an amazing moment, and I’m SO excited for you!!