1 00:00:00,000 --> 00:00:08,600 Hey, on this episode of the Coaching Business Mentor, I'm going to be sharing with you how 2 00:00:08,600 --> 00:00:15,200 to build a profitable coaching business around your job, your family and other commitments. 3 00:00:15,200 --> 00:00:21,440 If you are a coach who is looking to build a business, but at the moment you're still 4 00:00:21,440 --> 00:00:27,400 working a job, you've got children to look after, you've got other commitments that you've 5 00:00:27,400 --> 00:00:32,000 got to pay attention to. You definitely want to plug into this episode. I'm going to be 6 00:00:32,000 --> 00:00:37,080 sharing a few things with you that will help you to build that successful business around 7 00:00:37,080 --> 00:00:42,000 all your commitments. See you on the inside. 8 00:00:42,000 --> 00:00:49,560 You're listening to the Coaching Business Mentor with DJ Sabanjo, the number one business 9 00:00:49,560 --> 00:00:54,560 podcast for heart led coaches who want to get more clients, serve more people and make 10 00:00:54,560 --> 00:00:55,560 more money. 11 00:00:55,560 --> 00:01:03,360 Hey, and welcome to this episode of the Coaching Business Mentor with your host DJ Sabanjo. 12 00:01:03,360 --> 00:01:08,480 I'm really particularly excited about this episode. Hey, I'm excited about every single 13 00:01:08,480 --> 00:01:14,520 episode that we do, but I'm particularly excited about this one because I know that what we're 14 00:01:14,520 --> 00:01:21,520 going to be talking about is relevant to about 95% of the coaches who will be listening to 15 00:01:21,520 --> 00:01:28,360 this podcast. And that is coaches. If you are a coach who right now is working a job, 16 00:01:28,360 --> 00:01:33,860 most likely a full time job, you have a family, maybe you've got kids or you've got any other 17 00:01:33,860 --> 00:01:40,440 commitments than this episode is for you. I'm going to be sharing with you how to build 18 00:01:40,440 --> 00:01:48,760 a profitable business, especially if you have a lot of commitments that are placing a demand 19 00:01:48,760 --> 00:01:55,720 on you, which genuinely makes it quite difficult to build a business. But I'm going to be sharing 20 00:01:55,720 --> 00:01:59,880 with you a few things that you can do. And actually I'm looking at this and I know that 21 00:01:59,880 --> 00:02:04,640 I can't get through this in one episode. It's probably going to take about two, maybe three 22 00:02:04,640 --> 00:02:13,840 or even four episodes to get through this topic. So the truth is this, when most coaches 23 00:02:13,840 --> 00:02:24,720 get started in business, they have this dream. There's one coach, there's one dream or goal 24 00:02:24,720 --> 00:02:34,720 that most amazing coaches have. And that dream is to build this wonderful business that changes 25 00:02:34,720 --> 00:02:40,960 people's lives in a powerful way, but also funds their dream lifestyle, whatever your 26 00:02:40,960 --> 00:02:46,760 dream lifestyle is. And you know what it is. You want to be able to help people because 27 00:02:46,760 --> 00:02:50,400 that's what drives you. You're heart led. You want to help people, you want to change 28 00:02:50,400 --> 00:02:54,960 people's lives. You want to help people get from that place where they are right now to 29 00:02:54,960 --> 00:03:00,360 that place that they want to be. But you also have a dream lifestyle. And I don't know what 30 00:03:00,360 --> 00:03:05,640 it is. Certain places in the world you'd love to visit, you want to drive a certain kind 31 00:03:05,640 --> 00:03:13,920 of car, you want to live in a certain neighborhood. You just want to attain a certain lifestyle 32 00:03:13,920 --> 00:03:22,320 through what you do as a coach. Now, even though this is true, the reality for many 33 00:03:22,320 --> 00:03:29,520 of us is there is a bit of a gap between where we are as far as our business is concerned 34 00:03:29,520 --> 00:03:34,320 and where we want to be. But that's okay. That's the reason why you're listening to 35 00:03:34,320 --> 00:03:42,360 this podcast. So you already have a life that places a demand on you. And this is the thing. 36 00:03:42,360 --> 00:03:50,080 Right now, your life is placing a demand on what I call your core resources. And your 37 00:03:50,080 --> 00:03:57,080 core resources are really three resources which are limited. Number one is your time. 38 00:03:57,080 --> 00:04:02,780 Number two is your money. And number three is your energy. Right now, life is already 39 00:04:02,780 --> 00:04:09,000 placing demand on these three things. But you need to invest these three things into 40 00:04:09,000 --> 00:04:16,720 building your business. For example, let's talk about time. If you're working a job right 41 00:04:16,720 --> 00:04:24,480 now already, that's about 40 hours a week. 40 hours of your time that you are awake that 42 00:04:24,480 --> 00:04:32,240 is invested into building someone else's business, into your job. Now, some people knock jobs. 43 00:04:32,240 --> 00:04:36,840 I don't do that. I don't knock jobs. And there's a reason why I don't knock jobs. Jobs are 44 00:04:36,840 --> 00:04:46,440 brilliant. Among other things, a job gives you some stability. So the fact that you have 45 00:04:46,440 --> 00:04:52,220 a job means at least you have some stability month after month. You've got some income. 46 00:04:52,220 --> 00:04:58,960 You don't have to be stressed or worry about money. And that's a blessing. Another thing 47 00:04:58,960 --> 00:05:05,720 that a job gives you is an opportunity to learn and to develop new skills that you can 48 00:05:05,720 --> 00:05:12,260 use in the business marketplace. Another thing that a job gives you, a job gives you an opportunity 49 00:05:12,260 --> 00:05:19,680 to grow and extend your network on someone else's dime. Think about it. Let's talk about 50 00:05:19,680 --> 00:05:26,440 some of these things. Right now, if you're working a job for a decent employer, you know 51 00:05:26,440 --> 00:05:30,240 that as long as you show up to do your work, every month you're going to get a certain 52 00:05:30,240 --> 00:05:36,400 amount of money and you can begin to plan your life around your income. Most entrepreneurs 53 00:05:36,400 --> 00:05:43,320 don't have that luxury. Let's talk about that first of all. The second thing is not only 54 00:05:43,320 --> 00:05:50,200 do you have that stability, but you have the opportunity to develop skills on certain other 55 00:05:50,200 --> 00:05:55,840 people's dime. Now, when I was working a job, some of the skills that I developed, among 56 00:05:55,840 --> 00:06:00,160 other things, I developed my coaching skills. I developed my consulting skills. I developed 57 00:06:00,160 --> 00:06:08,960 my facilitation skills, my training skills, working for an employer. Now, these skills 58 00:06:08,960 --> 00:06:17,920 have helped me to make hundreds of thousands of dollars, but I developed these skills on 59 00:06:17,920 --> 00:06:23,560 someone else's dime. I had an organization who I worked for. It was in their time on 60 00:06:23,560 --> 00:06:28,040 their dime that I developed these skills. I developed these capabilities that I've gone 61 00:06:28,040 --> 00:06:35,960 on to help me to build successful businesses. But I developed those skills at a time when 62 00:06:35,960 --> 00:06:41,560 I was working for someone else, working for an organization who was paying me to do something 63 00:06:41,560 --> 00:06:48,880 that I enjoyed and I was actually going to use in my own business later on. That's another 64 00:06:48,880 --> 00:06:54,920 beautiful thing that a job does for you. A job gives you the opportunity to develop and 65 00:06:54,920 --> 00:07:01,040 to maximize your skills on someone else's dime. And a third thing that a job does for 66 00:07:01,040 --> 00:07:11,160 you, which I said earlier on, is a job helps you to build your network, establish credibility. 67 00:07:11,160 --> 00:07:15,960 One of the things my job did for me is because of my job, I was exposed to all sorts of people 68 00:07:15,960 --> 00:07:22,240 at very senior and executive levels. And when I left the organization that I was working 69 00:07:22,240 --> 00:07:27,800 for, I still had that networking place. I could still tap into that network to leverage 70 00:07:27,800 --> 00:07:33,400 that network to grow my business. You want us to be very, very careful that we don't 71 00:07:33,400 --> 00:07:38,920 become one of these people who knock jobs like jobs are a negative thing. And I see 72 00:07:38,920 --> 00:07:43,580 this a lot in the entrepreneurial world where people keep going on as if it's a terrible 73 00:07:43,580 --> 00:07:49,800 thing to own a job or to do a job and as if a job gets in the way of you being successful. 74 00:07:49,800 --> 00:07:57,000 That is far from the truth. It's not really the job that gets in the way of people being 75 00:07:57,000 --> 00:08:04,480 successful. It is people not having a good plan of how to leverage a job to help them 76 00:08:04,480 --> 00:08:09,440 get to where they want to be. Instead, they see the job as a thing that's getting in their 77 00:08:09,440 --> 00:08:14,200 way. And if they see the job as a thing that's getting in their way, they will not see the 78 00:08:14,200 --> 00:08:20,680 opportunity that is available within the job at the time they have the job. But jobs are 79 00:08:20,680 --> 00:08:25,680 great. So that's a key point I'm trying to make here is a job is not a terrible thing. 80 00:08:25,680 --> 00:08:29,560 So if you're working a job right now while you're trying to build your coaching business, 81 00:08:29,560 --> 00:08:35,440 I don't want you to feel negative about your job. I want you to begin to look for the opportunities 82 00:08:35,440 --> 00:08:41,000 that are available for you in the place that you are right now and the job that you're 83 00:08:41,000 --> 00:08:46,560 doing. What skills can you learn? How can you extend your network? And how can you leverage 84 00:08:46,560 --> 00:08:52,120 the stability your job is giving you right now to start to take those entrepreneurial 85 00:08:52,120 --> 00:08:57,200 risks that you need to take in order to grow your business? The beautiful thing, again, 86 00:08:57,200 --> 00:09:02,760 I'll use myself as an example. When I was working nine to five, and actually when I 87 00:09:02,760 --> 00:09:08,680 was working in corporate and before then when I was working in an operational environment, 88 00:09:08,680 --> 00:09:15,720 I was able to take risks because I knew that even if I messed up, I was still going to 89 00:09:15,720 --> 00:09:20,000 get more money coming from my job the next month. It's not like a business where you 90 00:09:20,000 --> 00:09:24,680 think, you know what, if I mess up, I'm going to be messing with my money. The beautiful 91 00:09:24,680 --> 00:09:30,360 thing is my money was my job. There was stability. And so I was able to take a lot of risks and 92 00:09:30,360 --> 00:09:37,520 have a lot of failures in the early days when I had the stability of a job rather than being 93 00:09:37,520 --> 00:09:43,160 very anxious because if I fail now, I will not have any money next month, which is the 94 00:09:43,160 --> 00:09:48,040 reality for a lot of entrepreneurs who don't have the stability of a job. So your job is 95 00:09:48,040 --> 00:09:54,760 a blessing. Your job means you can take risks in your business without risking losing your 96 00:09:54,760 --> 00:10:00,320 home or risking your family going to bed with no meal because there's no money. And also, 97 00:10:00,320 --> 00:10:06,360 the job gives you an opportunity to develop new skills and to maximize the skills you 98 00:10:06,360 --> 00:10:11,480 have and a job also gives you the opportunity to grow your network. So those are a few things 99 00:10:11,480 --> 00:10:15,440 here. I do want you to take away from this and begin to understand that your job is not 100 00:10:15,440 --> 00:10:22,760 your enemy. Just ignore all these people who keep knocking jobs and making out like a job 101 00:10:22,760 --> 00:10:28,000 is a terrible thing. And that's just what I want to take away from this is stop knocking 102 00:10:28,000 --> 00:10:33,840 jobs. Jobs are great. However, if you're looking to build a business, there is a challenge 103 00:10:33,840 --> 00:10:38,480 that the job is taking up so much of your time. If it's a full-time job, then the job 104 00:10:38,480 --> 00:10:48,720 is taking up about 40 hours or so every week. So you've got limited time because your job 105 00:10:48,720 --> 00:10:52,920 takes up so much time and then you need to spend some time with your family as well. 106 00:10:52,920 --> 00:10:57,040 So you've got to be there if you're a parent, if you're a husband or a wife, you've got 107 00:10:57,040 --> 00:11:02,800 to be investing in your relationships with your family. If you have other commitments, 108 00:11:02,800 --> 00:11:07,480 I know some people, maybe you do church or any other things you're involved in, they're 109 00:11:07,480 --> 00:11:12,600 going to be taking up your attention as well. They're going to be taking up your time. What 110 00:11:12,600 --> 00:11:19,680 about your money? The reality is a business would require some investment of money. That's 111 00:11:19,680 --> 00:11:24,800 the thing. A business in spite of what a lot of people think, right? Yes, a business is 112 00:11:24,800 --> 00:11:31,280 an asset that you build. You build the business and then the business starts to pay you. But 113 00:11:31,280 --> 00:11:36,000 usually in the early days, you're the one who is investing time. You're the one who 114 00:11:36,000 --> 00:11:41,060 is investing money and you're the one who's investing energy into this business until 115 00:11:41,060 --> 00:11:47,480 it's mature enough to start paying you back. And so in the beginning, you will also have 116 00:11:47,480 --> 00:11:56,720 limited money that you would have to use to invest in growing your business. And then 117 00:11:56,720 --> 00:12:02,120 finally there's your energy. And this is a very big one. I've actually come to realize 118 00:12:02,120 --> 00:12:08,320 that for part-time coaching business owners who have a full-time job and have a family 119 00:12:08,320 --> 00:12:14,560 and other commitments, I realized their biggest challenge is actually their energy. It's managing 120 00:12:14,560 --> 00:12:23,040 your energy. So among other things, your job places a demand on you physically and mentally. 121 00:12:23,040 --> 00:12:28,960 So by the time you're done, you're fatigued, you're tired, you're exhausted. Sometimes 122 00:12:28,960 --> 00:12:34,440 even just the commute to work alone is so tasking. I remember when it used to take me 123 00:12:34,440 --> 00:12:41,420 two hours to get into work and two hours to get back. That's four hours on the road, hopping 124 00:12:41,420 --> 00:12:51,080 on trains and underground and buses and having to walk as well. And I get home and I am shattered. 125 00:12:51,080 --> 00:12:56,160 That was my reality. And that's the reality for many of us who are looking to build a 126 00:12:56,160 --> 00:13:00,680 business is we need to invest time, we need to invest energy, we need to invest money 127 00:13:00,680 --> 00:13:09,580 in growing our businesses. And we already have other things in our lives like our jobs 128 00:13:09,580 --> 00:13:14,480 and our families and these other commitments that are already placing a demand on our time 129 00:13:14,480 --> 00:13:21,360 and our energy and our money. So we have very little left to invest in our business. So 130 00:13:21,360 --> 00:13:30,300 the secret to building a successful part-time coaching business is learning how to maximize 131 00:13:30,300 --> 00:13:35,460 your limited resources, your time and your energy and your money. It's all about maximizing 132 00:13:35,460 --> 00:13:43,280 what you have. If you maximize what you have, then you significantly increase the likelihood 133 00:13:43,280 --> 00:13:48,880 of you building a successful part-time coaching business and then transitioning to where your 134 00:13:48,880 --> 00:13:55,440 business is now full time. So what I'm going to do is I'm just going to quickly break down 135 00:13:55,440 --> 00:14:03,040 a few things that you will need to do if you are going to build a successful part-time 136 00:14:03,040 --> 00:14:08,120 coaching business. I'm going to highlight these five different points and then we're 137 00:14:08,120 --> 00:14:12,440 going to dive deep into one of them today. And then the next episode, we're going to 138 00:14:12,440 --> 00:14:17,760 then start to look at the others. So what are these ones? So number one, you've got 139 00:14:17,760 --> 00:14:23,760 to set realistic goals. And that's the one we're going to dive into today. If you don't 140 00:14:23,760 --> 00:14:28,520 set realistic goals, basically you will set yourself up to fail. But what are realistic 141 00:14:28,520 --> 00:14:32,960 goals? Because that's a broad statement. We're going to dive into what realistic goals are 142 00:14:32,960 --> 00:14:37,280 and I'm going to help you understand what they are and how you can set them. And also 143 00:14:37,280 --> 00:14:42,640 you've got to look at maximizing your constrained resources. That's the second thing. The third 144 00:14:42,640 --> 00:14:48,240 thing is you need to structure your life properly. So I said earlier on that your resources are 145 00:14:48,240 --> 00:14:53,320 limited. So number two is we're going to look at how we can maximize these resources. And 146 00:14:53,320 --> 00:15:00,840 then number three, you want to structure your life properly. The reality is you now have 147 00:15:00,840 --> 00:15:06,120 a lot of things going on. You've got your family, you've got your job, you've got other 148 00:15:06,120 --> 00:15:11,880 commitments you may have, and now you have a business. And structure is really, really 149 00:15:11,880 --> 00:15:17,400 important to make sure none of these suffer. I'm going to help us understand what that 150 00:15:17,400 --> 00:15:21,520 structure looks like, not on this episode. We're going to look at this in another episode, 151 00:15:21,520 --> 00:15:26,200 but this is one of those things that needs to be in place. The next thing is you need 152 00:15:26,200 --> 00:15:32,960 to design a solid business foundation. You've got to lay a solid business foundation. If 153 00:15:32,960 --> 00:15:37,240 you don't lay the foundation properly, I'm telling you right now, your business will 154 00:15:37,240 --> 00:15:42,680 fail. And I'm going to break that down for you. I mean, I've seen too many really smart 155 00:15:42,680 --> 00:15:46,880 people who want to build a coaching business, but because they don't get the foundation 156 00:15:46,880 --> 00:15:51,540 right, it just fails. And I'm going to show you exactly what we need to do for that one. 157 00:15:51,540 --> 00:15:57,760 And then the next one is leveraging tech and leveraging people. Leveraging tech, technology, 158 00:15:57,760 --> 00:16:00,960 leverage is critical. And there's two key things there. Number one is tech and number 159 00:16:00,960 --> 00:16:05,040 two is people. With people, there's three elements to that. There's a team, there's 160 00:16:05,040 --> 00:16:10,120 your network, and there's your mentors. And I'll be diving into that in a subsequent episode. 161 00:16:10,120 --> 00:16:14,480 And then the final bit is you need to be, you've got to be focused, but also flexible. 162 00:16:14,480 --> 00:16:19,760 But the first thing we've got to do to get this right is you need to make sure you set 163 00:16:19,760 --> 00:16:26,240 realistic goals. If you don't do this, your business will fail. It's just that simple. 164 00:16:26,240 --> 00:16:31,840 If you don't set realistic goals, your business will fail. The big question is this, is what 165 00:16:31,840 --> 00:16:36,720 are realistic goals? And what I'm going to do when we do come back is I'm going to really 166 00:16:36,720 --> 00:16:42,400 break this down for you, help you understand within the context of a coaching business. 167 00:16:42,400 --> 00:16:47,400 I'm sure you know what realistic goals are, but within the context of building a part-time 168 00:16:47,400 --> 00:16:52,640 coaching business, I'm not just going to give you the theory of what it is. By the time 169 00:16:52,640 --> 00:16:57,880 we come back and by the time we're through this episode, you would have been able to 170 00:16:57,880 --> 00:17:04,600 define and set your own realistic coaching business goal. All right. I'll see you in 171 00:17:04,600 --> 00:17:05,600 a short while. 172 00:17:05,600 --> 00:17:16,200 Are you a coach? Do you need to get paying clients consistently, but you don't want to 173 00:17:16,200 --> 00:17:21,400 waste countless hours trying to be famous in social media? Do you want a calendar full 174 00:17:21,400 --> 00:17:26,900 of appointments with quality prospects who want what you offer so you can convert premium 175 00:17:26,900 --> 00:17:32,560 clients month after month without stress? Now you can do just that when we help you 176 00:17:32,560 --> 00:17:38,400 implement the predictable profit machine for coaches, a business system that helps coaches 177 00:17:38,400 --> 00:17:46,000 consistently generate profits in their business. All you have to do is visit coachingbusinessmentor.sh. 178 00:17:46,000 --> 00:17:54,360 Watch the short explainer video and then go ahead and book an appointment. Let us help 179 00:17:54,360 --> 00:18:00,440 you build a predictable profit machine around your own coaching expertise so you can start 180 00:18:00,440 --> 00:18:05,240 earning predictable profits in your business month after month. 181 00:18:05,240 --> 00:18:11,080 Hey, welcome back to the coaching business mentor. In this episode, we're looking at 182 00:18:11,080 --> 00:18:17,520 how to build a profitable coaching business around your job, your family, and your other 183 00:18:17,520 --> 00:18:22,440 commitments. Just before we went on the break, we talked about setting realistic goals and 184 00:18:22,440 --> 00:18:28,600 how this is the first step to actually building a successful coaching business is actually 185 00:18:28,600 --> 00:18:34,680 setting realistic goals. Now let's talk about setting goals for a moment. I want to go back 186 00:18:34,680 --> 00:18:42,080 to 2002 or thereabouts when I just got started in direct sales network marketing. First time 187 00:18:42,080 --> 00:18:47,120 I'd ever come across the industry, don't ask me why I was quite new to the whole thing. 188 00:18:47,120 --> 00:18:52,920 The idea was fascinating to me. It was on this whole concept of you can become more 189 00:18:52,920 --> 00:18:58,020 successful by helping other people become successful. And because I was really passionate 190 00:18:58,020 --> 00:19:05,320 about helping people, the industry was very attractive to me. And I had these guys come 191 00:19:05,320 --> 00:19:10,120 in, they were millionaires from America who were flown into the UK. They were some of 192 00:19:10,120 --> 00:19:15,080 the top income earners with this company. It was called Excel Communications. If you're 193 00:19:15,080 --> 00:19:19,920 a certain age and maybe you're of an entrepreneurial background, you've probably heard of Excel 194 00:19:19,920 --> 00:19:26,280 Communications. I remember seeing all these millionaires on stage one after the other 195 00:19:26,280 --> 00:19:32,000 telling us about how they became successful in such a short period of time. And I was 196 00:19:32,000 --> 00:19:38,400 fascinated by these guys. I was inspired by them. And then I set this goal. I was going 197 00:19:38,400 --> 00:19:45,520 to become a millionaire in six months. And I believed it. Why? Because I was seeing all 198 00:19:45,520 --> 00:19:52,040 these guys on stage and I was inspired by their fascinating stories about how they were 199 00:19:52,040 --> 00:19:57,240 clueless and they just did one thing or another. And before you knew it, they were very, very 200 00:19:57,240 --> 00:20:04,400 successful. And these people in today's parlance, they would be the guys who you're seeing on 201 00:20:04,400 --> 00:20:11,520 TikTok and on Facebook and on Instagram and on YouTube who are bragging about how they've 202 00:20:11,520 --> 00:20:16,400 built these really amazing businesses, how it took them a short period of time, how they 203 00:20:16,400 --> 00:20:21,900 used to live in a trailer park, how they used to have to beg their mother for food and beg 204 00:20:21,900 --> 00:20:26,200 to live in their mother's houses because they were broke. And then they just discovered 205 00:20:26,200 --> 00:20:32,800 this super magic, amazing formula and boom, life just changed for them. And now they're 206 00:20:32,800 --> 00:20:37,680 just raking in six figures every other day. You know, those kinds of people, those were 207 00:20:37,680 --> 00:20:44,080 the types of people that was my reality. And so I saw that. And when I set this goal, I 208 00:20:44,080 --> 00:20:51,760 was going to become a millionaire in six months. I was going to be earning six figures in the 209 00:20:51,760 --> 00:20:58,400 next 12 months. That was the sort of goal that I had. And can you blame me for having 210 00:20:58,400 --> 00:21:07,040 such a goal? I mean, that was what I was surrounded by. I didn't know what a realistic goal was 211 00:21:07,040 --> 00:21:16,380 because in order to sell the industry to me, they sold me the quite possible, but very 212 00:21:16,380 --> 00:21:23,140 unlikely scenario. And I bought it. And a lot of people who are coming into the coaching 213 00:21:23,140 --> 00:21:29,220 business industry, unfortunately, we're exposed to a lot of that. We're exposed to people 214 00:21:29,220 --> 00:21:34,160 who are selling us these pipe dreams, because that's what I'm going to call them. And so 215 00:21:34,160 --> 00:21:40,400 we buy into this and then we set these goals that actually, when you really sit down to 216 00:21:40,400 --> 00:21:47,560 think about it, they're not realistic. And I've had the privilege to speak to hundreds 217 00:21:47,560 --> 00:21:55,000 of coaches in the last few months, hundreds of coaches. And when I sit down with them 218 00:21:55,000 --> 00:21:58,440 and I ask them, what is your goal? Because how much are you hoping to achieve in the 219 00:21:58,440 --> 00:22:04,200 next 12 months? And something that I see consistently is six figures, six figures a month. I want 220 00:22:04,200 --> 00:22:08,480 people who want to be earning six figures, people who want to be earning $50,000 a month, 221 00:22:08,480 --> 00:22:13,520 people who want to be earning $100,000 a month within the next few months. And there's nothing 222 00:22:13,520 --> 00:22:20,880 wrong with that ambition, but it's comparing where they want to be to where they are now. 223 00:22:20,880 --> 00:22:29,700 And there's such a massive gap. And so that goal is unrealistic. The likelihood of it 224 00:22:29,700 --> 00:22:38,880 actually happening is highly remote. So I love goals like this because they do stretch you, 225 00:22:38,880 --> 00:22:45,680 right? They do get you to begin to see possibilities and begin to get excited about what the future 226 00:22:45,680 --> 00:22:52,080 potentially can hold. And that's great because anything that can get you excited and motivate 227 00:22:52,080 --> 00:23:02,080 you is a good thing. The problem is for every thousand hardworking, committed, talented 228 00:23:02,080 --> 00:23:08,840 and heart led coach who set this goal, who right now working a full time job and the 229 00:23:08,840 --> 00:23:17,880 numbers, and these are based on stats, for every thousand, about 999 of them will not 230 00:23:17,880 --> 00:23:25,520 hit this goal. And I'm not talking about daydreamers who don't work. I'm not talking about lazy 231 00:23:25,520 --> 00:23:32,960 bums. I'm talking about hardworking, committed, talented, heart led coaches who set this kind 232 00:23:32,960 --> 00:23:45,260 of unrealistic goal. Only about 0.1% of them actually go on to achieve this goal. Why? 233 00:23:45,260 --> 00:23:49,480 The reality is when you think about it, when you consider the fact that there's a lot of 234 00:23:49,480 --> 00:23:54,600 constraints, they have limited time because they have a lot of other commitments. They've 235 00:23:54,600 --> 00:23:58,560 got a full time job. They've got a family. They've got other commitments. They have limited 236 00:23:58,560 --> 00:24:04,960 money to really build a business that big because it does take a good investment of 237 00:24:04,960 --> 00:24:15,400 money to be able to be turning over that much money every month or every year. And also 238 00:24:15,400 --> 00:24:21,240 the effort it takes to launch and grow a business to six figures. And I know because I've been 239 00:24:21,240 --> 00:24:26,620 there. It takes a fair bit of effort. And so when you consider how much time it takes, 240 00:24:26,620 --> 00:24:31,720 how much energy it takes, how much money, talk about your marketing budget, your operations 241 00:24:31,720 --> 00:24:39,080 budget, how much you need to be putting into your business. The reality is goals like this 242 00:24:39,080 --> 00:24:46,000 are unrealistic. And the likelihood of you hitting these goals are very, very low. I'm 243 00:24:46,000 --> 00:24:50,960 going to point something out very quickly. There's usually two types of people who sell 244 00:24:50,960 --> 00:24:58,680 you on these pipe dreams. Number one, people who want your money. And number two, people 245 00:24:58,680 --> 00:25:05,320 who are deceived and believe people who want your money. Let me put it to you this way. 246 00:25:05,320 --> 00:25:10,520 If you had a mentor like me, because I'm your coaching business mentor, your mentor cares 247 00:25:10,520 --> 00:25:15,920 about you. They will tell you the truth. I'm not trying to sell you stuff here. My objective 248 00:25:15,920 --> 00:25:20,000 here on this show is to help you succeed. And that's why you want to pay attention to what 249 00:25:20,000 --> 00:25:26,420 I'm saying and not that person who is trying to get you to buy whatever it is they're trying 250 00:25:26,420 --> 00:25:33,920 to sell to you. And they make it out like, if you just get this magic pill, you will 251 00:25:33,920 --> 00:25:39,040 start earning six figures without doing everything, sipping pinacolado on a beach and that sort 252 00:25:39,040 --> 00:25:46,640 of thing. The reality though is it doesn't happen like that. And then the second type 253 00:25:46,640 --> 00:25:51,440 of person who will be selling you on that is the person who's been inspired by the con 254 00:25:51,440 --> 00:25:57,000 man, who believes the con man has probably spent their own money with the con man. They're 255 00:25:57,000 --> 00:26:02,200 not getting results, but they'll keep on hyping up the con man. And those are the two types 256 00:26:02,200 --> 00:26:08,120 of people who will sell this pipe dream to you. Why? Because they know that if you believe 257 00:26:08,120 --> 00:26:16,080 such a massive dream, then you will be willing to give them your money for their magic potion 258 00:26:16,080 --> 00:26:20,720 that they're trying to sell to you. That is the truth. And I'm going to put this out there 259 00:26:20,720 --> 00:26:28,760 right now. So you can understand this. I'm on a mission on this show, among other things. 260 00:26:28,760 --> 00:26:33,400 I want to take business away from these con men. And I'm just going to put this out there. 261 00:26:33,400 --> 00:26:37,080 Give me a moment to rant. Just give me a moment to rant. You know, we've been doing this for 262 00:26:37,080 --> 00:26:41,680 a few episodes. I haven't done any rants yet, but I'm going to do a rant now. There's a 263 00:26:41,680 --> 00:26:46,000 bunch of people who've come into our space, into the coaching space. They do see that 264 00:26:46,000 --> 00:26:51,040 there's people like you and I who are heart led, who do what we do because we want to help people. 265 00:26:51,040 --> 00:26:55,280 We want to make a difference in people's lives, but we also want to get compensated well for 266 00:26:55,280 --> 00:27:00,440 the difference that we make. And so there's a lot of people out there in our space who 267 00:27:00,440 --> 00:27:06,960 see an opportunity, who use sleek marketing, who use deceptive marketing to try to seduce 268 00:27:06,960 --> 00:27:14,680 and convince and confuse people like you and I. So we would take our eye off the ball, 269 00:27:14,680 --> 00:27:19,160 believe in a false dream that they sell to us because they want to take our money from 270 00:27:19,160 --> 00:27:23,400 us. They don't care about me. They don't care about you. They don't care about helping 271 00:27:23,400 --> 00:27:27,640 you. They don't care about yourself and your dreams and your goals, because if they did, 272 00:27:27,640 --> 00:27:32,140 they will tell you the truth. But instead they use deceptive marketing. Some of them 273 00:27:32,140 --> 00:27:41,400 blatantly lie and they sell you a false dream. They take your money and then you buy into 274 00:27:41,400 --> 00:27:46,440 the false dream. And then when it doesn't happen, not only do you lose money, because 275 00:27:46,440 --> 00:27:51,960 if it was just money, that's okay. But what happens is when you've invested so much of 276 00:27:51,960 --> 00:27:57,680 yourself into something, because someone told you it was going to work, when it doesn't 277 00:27:57,680 --> 00:28:02,880 work, it can break you. And I've seen that happen so many times in this industry. And 278 00:28:02,880 --> 00:28:07,680 that's why I'm going to put this out there. When someone is saying to you, you're building 279 00:28:07,680 --> 00:28:12,080 a part, you're building a business, a coaching business around your job, your family and 280 00:28:12,080 --> 00:28:16,640 other commitments, and they sell you this magic potion that's going to get you earning 281 00:28:16,640 --> 00:28:24,760 six figures in six months, six figures a month in six months, run, run, run, run. They're 282 00:28:24,760 --> 00:28:29,240 a con person and they're after your money. As soon as they get your money, they're moving 283 00:28:29,240 --> 00:28:35,240 on to the next victim. So make sure you are not their victim. It's really interesting 284 00:28:35,240 --> 00:28:39,160 because I'm just going to quickly put this out there. Now with our predictable profits 285 00:28:39,160 --> 00:28:45,000 machine, I could have, because we've had people who've come onto the system and then within 286 00:28:45,000 --> 00:28:51,880 six weeks are doing well in their businesses. In spite of that though, and this is a key 287 00:28:51,880 --> 00:28:57,800 thing, in spite of that, every time I'm sitting down with a potential client and they ask 288 00:28:57,800 --> 00:29:04,440 me, DJ, how long will it take? And I say to people six months. When they say six months, 289 00:29:04,440 --> 00:29:09,920 I say, yes, the reality is there's a lot that needs to happen to get you to this point where 290 00:29:09,920 --> 00:29:17,560 it's really exciting. And yes, it has happened for some people and a lot less time, but realistically 291 00:29:17,560 --> 00:29:24,120 for most people, it is six months. Now, some people are going to walk away from me because 292 00:29:24,120 --> 00:29:29,380 they want it in six days and they're going to go to that merchant of the six figures 293 00:29:29,380 --> 00:29:36,200 a month in three months program and run after those people. I can't help them. But on this 294 00:29:36,200 --> 00:29:40,760 show, because I am your mentor, I will be honest with you and I will tell you the truth. 295 00:29:40,760 --> 00:29:45,540 You want to run away from these merchants who are selling you pipe dreams, who really 296 00:29:45,540 --> 00:29:51,080 are trying to entice and seduce you with a false dream. They will take your money and 297 00:29:51,080 --> 00:29:56,120 then they will break your heart. And that's happening so very much in this industry. And 298 00:29:56,120 --> 00:30:01,160 I just can't, I will not keep quiet. This is my show. This is my opportunity. If I'm 299 00:30:01,160 --> 00:30:06,880 just able to help one coach, not make that mistake that so many other coaches make, then 300 00:30:06,880 --> 00:30:12,480 for me that's job done. All right, good. That's my rant out of the way. Okay. A realistic 301 00:30:12,480 --> 00:30:21,800 goal for a coach working full time with their family commitments as well and other commitments. 302 00:30:21,800 --> 00:30:25,400 What does it look like? And I'm going to give you this, and this is one that you might want 303 00:30:25,400 --> 00:30:30,760 to write down. I'll put this in the podcast notes so you can copy it from there. A realistic 304 00:30:30,760 --> 00:30:40,160 goal for a coach would be to grow my business to the stage that I will be able to leave 305 00:30:40,160 --> 00:30:47,280 my job and focus on my business full time within 18 to 24 months. Let me say this again. 306 00:30:47,280 --> 00:30:51,280 This is a realistic goal and that this, I'm actually going to encourage you if you are 307 00:30:51,280 --> 00:30:56,120 part time, this is a good goal to write down and I'm, and cause it's different from one 308 00:30:56,120 --> 00:31:01,080 person to another. Grow my coaching business to the stage that I'll be able to leave my 309 00:31:01,080 --> 00:31:08,240 job and focus on my business full time within 18 to 24 months. Let me explain why this is 310 00:31:08,240 --> 00:31:14,380 a really good goal for you. First of all, it's a very stretching goal. It will place 311 00:31:14,380 --> 00:31:20,520 a demand on your resources. If for you to achieve this, you will have to put a lot of 312 00:31:20,520 --> 00:31:26,920 time, energy and money into this to achieve this goal. But the reality is even though 313 00:31:26,920 --> 00:31:32,760 you need to put a lot, it can be done. As long as you are committed and you're not lazy, 314 00:31:32,760 --> 00:31:38,280 as long as you're hardworking, as long as you're smart and talented and committed, 315 00:31:38,280 --> 00:31:43,520 you can achieve this goal. It will take a lot out of you just so you're aware. So this 316 00:31:43,520 --> 00:31:51,160 is not a lazy goal. This is a hard goal that is very stretching, but it's very realistic. 317 00:31:51,160 --> 00:31:55,800 I guess the question then is, okay, DJ, so I want to grow my business to the point where 318 00:31:55,800 --> 00:32:00,840 I'm able to leave my job and focus on my business full time in 18 to 24 months. That makes sense, 319 00:32:00,840 --> 00:32:06,960 but what does that really look like in reality? Well, for you to be able to walk away from 320 00:32:06,960 --> 00:32:12,840 your job and build your business full time in 18 to 24 months, let me tell you what you 321 00:32:12,840 --> 00:32:17,240 need. You need two things primarily, and then we're good. And then the final thing is you 322 00:32:17,240 --> 00:32:24,680 need a plan. The first thing is you need a system. This is very important that has brought 323 00:32:24,680 --> 00:32:32,840 in your current monthly income from your job minus business expenses for at least six months. 324 00:32:32,840 --> 00:32:40,560 Let me break down what this means. Let's say hypothetically that for you right now, your 325 00:32:40,560 --> 00:32:50,360 job pays you, for you to sustain your lifestyle, your job pays you $5,000 a month after tax. 326 00:32:50,360 --> 00:33:01,880 What you need is a business system that has been bringing in $5,000 a month minus expenses. 327 00:33:01,880 --> 00:33:06,680 So think about your operational expenses, think about your marketing expenses. So just 328 00:33:06,680 --> 00:33:12,280 imagine let's go with $10,000. So let's say your business has brought in $10,000 a month 329 00:33:12,280 --> 00:33:20,800 for the last six months, but you have invested maybe $3,000 on marketing, $2,000 in operations. 330 00:33:20,800 --> 00:33:27,160 Therefore you have $5,000 left and you've done that consistently for six months. Now 331 00:33:27,160 --> 00:33:34,360 this is really important. The thing is entrepreneurs can have what I call breakthrough moments 332 00:33:34,360 --> 00:33:37,720 and anyone who's been building a business for a while knows this, especially if you 333 00:33:37,720 --> 00:33:43,560 don't have a system. If you don't have a system, you can have one month where you make $10,000 334 00:33:43,560 --> 00:33:48,840 and it seems like, whoa, everything seems so easy. And then the next month you make 335 00:33:48,840 --> 00:33:52,760 2,000, the next month you make 1,000, you're thinking, oh my goodness, the next month you 336 00:33:52,760 --> 00:33:57,600 make 500 and then the next month you make 8,000. That's a business that doesn't have 337 00:33:57,600 --> 00:34:07,960 a system. I'm talking about a system where over six months you're generating your monthly 338 00:34:07,960 --> 00:34:15,280 salary plus expenses into your business and you've done that for six months. Why is this 339 00:34:15,280 --> 00:34:22,200 important? Remember your job gives you stability. Having a breakthrough month where you make 340 00:34:22,200 --> 00:34:28,600 $30,000 from your business is not a smart reason to leave your job because it's not 341 00:34:28,600 --> 00:34:36,320 a business yet. You just had a good month. A business is about a predictable system that 342 00:34:36,320 --> 00:34:43,080 is consistently bringing money in for you and that's what you need to have. So the 18 343 00:34:43,080 --> 00:34:50,440 to 24 months we're talking about is actually to establish a business that is bringing revenue 344 00:34:50,440 --> 00:34:56,440 in consistently, predictably because there's a system that's working for you. So first 345 00:34:56,440 --> 00:35:01,520 step is having a system that is broadening your current monthly income minus business 346 00:35:01,520 --> 00:35:05,800 expenses for at least six months. That's the first thing. The second thing you want to 347 00:35:05,800 --> 00:35:11,720 have is that first one is important. It's more important than the second. Having the 348 00:35:11,720 --> 00:35:18,760 second without the first, you don't yet have a business that you should be confident working 349 00:35:18,760 --> 00:35:24,600 away from your job for. The second thing which is important but not as important as the first 350 00:35:24,600 --> 00:35:31,840 is you need three months worth of your monthly income in savings. Three months worth. Why 351 00:35:31,840 --> 00:35:39,040 just three months? Well, if you have a system that has been bringing in your monthly income 352 00:35:39,040 --> 00:35:45,680 minus expenses for six months, then when you leave your job to go full time, the system's 353 00:35:45,680 --> 00:35:50,200 not just going to flop. But let's just say something happens. You've got three months 354 00:35:50,200 --> 00:35:55,720 to reset your system, which should be enough time. Okay, so that's the reason. So the three 355 00:35:55,720 --> 00:36:03,880 months worth of monthly income is like insurance. Your business is that predictable system that's 356 00:36:03,880 --> 00:36:09,560 bringing money in month after month after month. I guess you can see right now that 357 00:36:09,560 --> 00:36:19,440 this is critical. This goal, this 18 to 24 month goal is a more realistic goal. But it's 358 00:36:19,440 --> 00:36:27,200 a goal that is more sensible and it's a goal that actually aligns with the future you desire 359 00:36:27,200 --> 00:36:34,040 for yourself. Rather than just plucking this number out of the sky because it excites you. 360 00:36:34,040 --> 00:36:40,960 Which is unfortunately what a lot of people do. So if you want to build a successful part 361 00:36:40,960 --> 00:36:45,440 time coaching business around your job, your family and other commitments, you definitely 362 00:36:45,440 --> 00:36:52,800 want to have a realistic goal. And I'll encourage you as your mentor to go with the goal that 363 00:36:52,800 --> 00:36:58,420 I shared with you. And I've shared with you the two things that need to be in place for 364 00:36:58,420 --> 00:37:02,560 you to be able to know that yes, I have hit this goal. Once you've been able to do six 365 00:37:02,560 --> 00:37:07,640 months earning your monthly income minus expenses, once you've been able to accumulate three 366 00:37:07,640 --> 00:37:13,980 months worth of your monthly salary and savings, then you're ready. That's when you're ready 367 00:37:13,980 --> 00:37:19,480 to say, boss, thank you very much for the time here, but it's time for me to move on 368 00:37:19,480 --> 00:37:24,520 to other things because I have a business in place and I have some insurance money for 369 00:37:24,520 --> 00:37:29,960 three months in case something goes wrong with the business. And that's pretty much 370 00:37:29,960 --> 00:37:37,040 it. That's the very, very first step for those of us who are looking to build a profitable 371 00:37:37,040 --> 00:37:42,360 coaching business around our jobs, family and other commitments. Now we've definitely 372 00:37:42,360 --> 00:37:47,740 come to the end of this episode. I'm just checking and I'm going to have to continue 373 00:37:47,740 --> 00:37:52,600 in this. I have a lot to share with you. I've got a heart led coach. I've got so much to 374 00:37:52,600 --> 00:37:57,000 really help you on the course of building this profitable business. And the next episode, 375 00:37:57,000 --> 00:38:02,060 we're going to be looking at how to maximize your constrained resources. So you're building 376 00:38:02,060 --> 00:38:06,400 that successful business. So that's your time and your energy and your money. I'm going 377 00:38:06,400 --> 00:38:11,940 to really break down. How can you maximize your time when you have a job and a family 378 00:38:11,940 --> 00:38:16,480 and other commitments? How can you maximize your money? How can you maximize your energy? 379 00:38:16,480 --> 00:38:21,120 I'm going to be sharing with you a few practical things that you can do. No theory. It's things 380 00:38:21,120 --> 00:38:26,120 that you can do that are implementable, that you can start to implement in your business 381 00:38:26,120 --> 00:38:31,680 right now, helping you get to that place where you want to be. So make sure you look out 382 00:38:31,680 --> 00:38:36,120 for the next episode. I'm going to be breaking that down with you. But for now, I want to 383 00:38:36,120 --> 00:38:42,600 encourage you to go back and listen to this episode again, identify what the right goal 384 00:38:42,600 --> 00:38:47,160 is, set that realistic goal, and then be ready for what we're going to be discussing next 385 00:38:47,160 --> 00:38:52,080 week. My name is DJ Sabanjo. I am really glad that you sat through this and I look forward 386 00:38:52,080 --> 00:38:58,280 to continue to be a big part of your success story. Enjoy the rest of your week and see 387 00:38:58,280 --> 00:39:04,880 you in the next episode. 388 00:39:04,880 --> 00:39:10,080 You have been listening to the Coaching Business Mentor podcast. The podcast focused on giving 389 00:39:10,080 --> 00:39:16,040 premium business advice to heart led coaches, helping them get more clients, help more people 390 00:39:16,040 --> 00:39:21,120 and make more money consistently. If you enjoy this episode, I'd like to encourage you to 391 00:39:21,120 --> 00:39:26,040 do three things very quickly. Number one, subscribe to this podcast. Number two, I'd 392 00:39:26,040 --> 00:39:32,520 like you to leave a review about the podcast and how useful it was for you. And number 393 00:39:32,520 --> 00:39:38,280 three, I would like you to share this podcast episode with three coaches who you know would 394 00:39:38,280 --> 00:39:43,680 benefit from this. Thank you so very much for listening. If you do want to follow me, 395 00:39:43,680 --> 00:39:49,580 you can find me on Instagram. It's DJ Sabanjo and I look forward to continue to be a part 396 00:39:49,580 --> 00:39:55,120 of your success story. Let's keep on changing lives and let's keep on making our world a 397 00:39:55,120 --> 00:40:23,680 better place and getting paid as we do so. This is DJ Sabanjo. See you on the next episode.