If you’re new to financial coaching, most business opportunities are going to be worth your time.
Earlier on in my career, I was approached by a company and asked to submit a bid for a corporate wellness program. Had I run a corporate wellness program before? No. Did I question whether I should submit a bid for this? Yes. Did I submit one anyway? Absolutely.
That business opportunity was a big unknown at the time. The things that I would need to ensure the opportunity was successful, I didn’t have in place when I submitted the bid. But I trusted the skills I knew I had – creativity, a strong work ethic, follow-through – and could see what I would create if the company selected me. Long story short, I won the bid and spent 30 days inside this company building relationships and honing my presentation skills. In the end, something that I thought might be good for my business ended up being great.
Don’t Focus only on the Payoff
As entrepreneurs, we need to be protective of our time. I know all too well that building a business and running a successful business takes a lot of skills and time management is definitely one of them. We have to evaluate new business opportunities and ask ourselves, “Is this worth my time?” or “Is this an opportunity that will pay off?”
Let me start by saying when you’re beginning your coaching career almost every business opportunity will pay off in some way. Jumping into new opportunities is helpful because you’re going to learn something about yourself, gain practice, get experience, or acquire more awareness about yourself, your business, or your ideal clients. In the best of opportunities, you’ll learn a little about all of the above. Whether you make money or break-even, gain a new client or not, there are a lot of ways to see a payoff when you’re just starting. That’s why I encourage you to try new things even if the benefit isn’t obvious or immediate.
By saying yes to opportunities, it’s also likely that you’ll create something new. Maybe meeting with a group of health professionals inspires you to create a podcast episode specifically about the top financial challenges you see from nursing clients. Or maybe meeting with a room full of teachers gets you so fired up that you realize this is the niche you’ve been searching for. Or maybe a speech from a prominent local businesswoman inspires you to create a new handout for your clients to work through during their initial consultation. The thing is, you never know. Inspiration can lurk everywhere and when you’re new to coaching the sources can be limitless.
You Need to Create for Creativity’s Sake
The beauty of seizing opportunity in the early years of your business is that nothing has to have a lasting impact. Even if what you’re inspired to create isn’t something you end up using forever in your business, the act of creating something from nothing is a skill you must practice to get successful at coaching. It will pay dividends down the line. It’s like strengthening a muscle – it can only get stronger if you work it.
The next time an opportunity comes your way, try to focus on all the intangible benefits you could gain by saying yes. Ask yourself, “What do I have to lose?” If it’s only time, plan your schedule accordingly, and go for it.
It’s only later on in your business that you’re going to want to ask yourself “Is this worth my time?” As you expose yourself to new networks, new ideas, and new opportunities, you will want and need to get more selective. When your time and your expertise is much more sacred, you need to protect it by carefully evaluating business opportunities.
You’ll put tighter boundaries in place and not let yourself get distracted by people, programs, or promises that don’t align with your business and your ideal client. But until then, say yes to the networking meeting, the invitation to give a presentation, or the referral partner appointment. What’s waiting for you on the other side is knowledge and experience you don’t have right now.