WW 199: The 3 Core Ingredients To Run a Full-Time Coaching Business in Part-Time Hours (from abroad) - Solo Show

For this episode, we’re going to discuss the 3 core ingredients you need to be able to run your full-time income coaching business, in part-time hours and/or from abroad. I’m going to share my experience, what held me back and what I needed to learn so that I could do just that. Loving this episode? Take a screenshot and share it on Instagram! Tag me so I can send you some love (@Tess_Wicks)

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Resources FROM THIS EPISODE

Recommended Listen: Episode 164: How I Became a Money Coach
Recommended Listen: Episode 170: How I Organize My Week to Manage a Full-Time Coaching Business
Feel frustrated with pricing your services? Grab the Online Coach’s Pricing Workbook to help you start charging the right price!
Want the Online Coach’s Pricing Workbook for free? Leave a review for the podcast on iTunes, take a screenshot and email it to me at tess@wanderwealthy.com and I’ll send you the workbook for free as a thank you!
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OTHER GREAT Resources

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A Quick Recap from this episode

Financial Freedom
Time Freedom - I was sick of working 60-70 hr weeks and still knowing I wasn’t working enough compared to my colleagues - I knew more hours didn’t mean more productivity, and in the business world it also doesn’t mean more money.
Location Freedom - I desired to work from coffee shops, different countries, travel while I worked - when I quit my job, I still didn’t follow my dreams to work from anywhere even though I technically could. I constantly assumed it just wouldn’t work.

I avoided starting a financial coaching business which hindered my desire for Time Freedom and I avoided believing my financial coaching business could work abroad which hindered my desire for Location Freedom.

Because I avoided all of the above, I also hindered my financial freedom (funny how we self-sabotage).

Some things I was lacking:

A value-packed program that supported me in increasing my prices (basically all the tools I provide in WCB)
The idea of how I could effectively scale a financial coaching business so I didn’t have to work a 40 hour work week, period.
The idea of how I could effectively scale a financial coaching business so I didn’t have to work a 40 hour work week in a U.S. timezone, while living 6-9 hours ahead.
The ability to work through my limiting beliefs

I didn’t have a plan - I just had to do it and adapt as I went. And so I did. This meant that it took me a lot longer to get to a place where I had a full-time coaching business, simply because of my own internal doubts. AND the foundations I had set up for myself weren’t nearly as solid as the ones I have my clients set up… so, it took me time, lots of trial & error, and there are still inefficient kinks I have to work through BUT I did it.

The 3 Core Ingredients:

Boundaries - time is a funny thing
A scalable program - scale in price or in people
Faith - mindset

Boundaries:

Personal boundaries (emotional and physical), relationship boundaries, financial boundaries (budget), material (possessions + space) - we can also have time boundaries
For your business, you NEED boundaries
To be able to reduce the hours you work in your business or to be able to take your business abroad, you’ll need to be excellent with your time boundaries.
I ended up using the time difference to my benefit to help me block and batch my projects and tasks

Time Block & Batching
- AM’s for content creation and admin
- PM’s for coaching calls
  - When I was strictly financial coaching I would follow a special schedule (that was actually rather rewarding and fun to be different)
    - Coaching Calls Monday, Tuesday, Wednesday, Thursday & Sunday PM
    - Take Friday PM off
    - Content Creation Monday & Friday AM
    - Other internal business works Tuesday, Wednesday & Thursday
  - Now (scaled and business coaching):
    - Coaching Calls Tuesday, Wednesday & Thursday PM
    - Take most of Friday off (unless I feel like working or REALLY have to - like during a launch)
    - Content Creation Monday & Thursday AM
    - Other internal business works like admin and program development Tuesday & Wednesday AM

Scalable Program:

Scalable in price
- Determine max capacity
  - In a month, how many calls can you offer? (ex. 20)
  - How many times per month do you need to see your clients? (ex. 2x per month)
  - How long is your program? (ex. 6 months)
  - This will help you determine your max capacity - 10 clients every 6 months or 20 clients per year
- Determine your revenue goal
  - Part time, full time, dream
- Start with one signature 1:1 offering
  - Always start with 1:1
  - Benefits
- Pricing
  - Divide each revenue goal by number of total clients (of course, your max client capacity might change for each revenue goal i.e. PT vs FT)
  - Aim to hit max capacity for your first revenue goal, then consider scaling into something like a group
Scalable in people
- Leave the price as is
- Figure out how to scale adding more people, and reducing your need to be 1:1 or so involved

Faith:

aka the right mindset
So often, we’ll stop ourselves before we even start - I call this “tripping over the starting line”
I remember when I had the opportunity to move to Europe to live with my boyfriend - I came up with all the excuses as to why I wouldn’t be able to take my money coaching business with me. At the time, I was dabbling in a lot of other things, allowing myself to get distracted by shiny object syndrome, so it was easy to imagine myself just letting that one thing fade away and to just focus on freelance writing or youtube sponsorships.
I didn’t know if it was possible to run my money coaching business from abroad, so I just assumed it wasn’t.
But for whatever reason, I kept offering money coaching, or people kept inquiring, even after I moved abroad so I thought… “ok, I’ll just take on as many clients as I can until I can’t any more”
That thought process was what saved my business.
Sometimes I find my clients getting so wrapped up in trying to figure out “what will happen when I’m maxed out and not making enough to go full-time yet?” and I have to let them know that the problem isn’t the one they should be worrying about solving right now - instead, focus on the problem that you need to solve NOW like, where will my next client come from? Am I hitting the numbers I can control in order to create predictable results?
I like to use “Faith” as an example here.
If you believe in God, source, angels, and even manifestation, you have to have faith.
Faith defined is a strong belief in the doctrines of a religion, based on spiritual conviction rather than proof.
Right now, you may not have proof that your business will survive or thrive, even if you’re following a process like The Wealthy Coach Blueprint, you still have to have faith that it will worth for you.
You have to be willing to believe it, before you can see it.
You must be willing to BE who you need to be, so you can ACT how that person might act so you can HAVE what that person might have.
It’s all faith.

So, those are the 3 core ingredients to be able to run a full-time income producing financial coaching business, on part-time hours or from half-way across the globe.

Boundaries, Scalability, and Faith.

I know it may sound so simple, but it is. We overcomplicate things by trying to figure out “HOW” to do them before we’re even presented with the problem. Make it easy on yourself and don’t do that. Take it one client at a time, invest in a coach when you need help scaling, and have faith that it will happen.

Don’t forget that if you’re ready to keep your pricing simple and get some help making more sales, then it’s time for you to grab the Online Coach’s Pricing Workbook below!