Starting and growing a coaching business is not unlike training for a race. Each requires a fundamental principle called ‘betting on yourself.’ In this article we break down key ways you can Bet on Yourself to achieve business success.
I’ve noticed an interesting trend within the UESCA Coach Facebook Group. A lot of individuals that have become certified are hesitant to start their coaching business. I get it. Starting a new business can be daunting and scary, while at the same time exciting, energizing and empowering.
What I find most interesting is that I’m willing to guess that most, if not all, of these people don’t have anywhere near the same trepidation when it comes to training for and competing in races.
So, what does starting a business and signing up and training for a race have in common? You’re betting on yourself.
The Only Variable You Have Control Over
You. That’s the only thing you have complete control over. Your actions. Your thoughts – They are all yours. You control your own destiny and when it comes to both starting a business and training for and racing in an event, you’re in the driver’s seat. While it’s a very empowering position to be in, that of course doesn’t mean that things will always go the way you want. In fact, often they won’t. However, when you bet on yourself and have control, you can decide how to rebound and pivot to get the result you are looking for.
No One is Coming to Rescue You
This is not a very comfortable thing to realize and appreciate, but it’s true. At the end of the day, you are responsible for your success, or lack thereof. Whether it be in sport training, or starting a business – as the saying goes, you have to look out for number one!
I’ve found that fully appreciating that ‘no one is coming to the rescue’ empowers a lot of would-be coaches to take the bull by the horns and take charge of their life by starting their coaching business.
Take Action
Call it imposter syndrome, fear, or something else – many certified coaches just can’t seem to take the first steps to start their business. The most important thing is taking action. This could be as small as registering a domain name, or as big as networking at a conference. Whatever the action is, it must be taken. The first action leads to the second, which leads to the third, which eventually leads to a fully built-out coaching business.
The Value of Momentum
Clearly then, action leads to more action. Conversely, stagnation leads to more stagnation. Just as physiological adaptions increase with the proper training stimuli, business success also increases with the proper stimuli. Keep moving and keep growing!
UESCA or the Financial Markets?
A few years ago, my financial advisor asked me why I had not put any money into my IRA. I told him that I was putting all of the profits from UESCA back into the business with the hope of continuing to grow it as much as possible. While I understand the importance of putting money into some form of retirement account, I also understand that I have no control over the markets, whereas I have complete control over how I run UESCA. So I bet on myself and with the average annual return of the S&P 500 being around 10%, so far my bet on myself is outperforming the market.
Believe
In order to bet on yourself, you have to believe in yourself. And I don’t just mean, “I think I’m an OK coach” type of belief. I mean, “I’m going to start a coaching business that is going to thrive and help athletes change their lives,” type of belief!
In communicating with a lot of successful coaches, the one trait they all share is the self-confidence and belief in themselves that they can run a thriving coaching practice.
Action Plan
Of course, belief in yourself by itself is not going to get you anywhere. You still have to take action. Do your research. Set goals. Ask a lot of questions. Envision the future that you want. Work your a** off. Fail – pivot – fail – pivot – succeed! That’s how it works.
You got this!
