I received this email from Jeff, a coach in Colorado – see if you can identify:
I am currently trying to build my coaching business; it’s taking longer than I hoped and I need to bring in money soon so I’m looking for a regular job. I thought I left that world a while ago and the thought of working for someone else again is revolting. It feels like a race to make money one way or another, which puts pressure on the coaching business. Any advice? – Jeff
Here are some tips for him – and for you too, if you’re wondering how it’s possible to balance running a business with bringing in money through employment.Embrace the job: it’s temporary
It’s important to recognise that having a job does not equal failure. I found that a level of stable, regular income supported me in growing my business in the early days. It meant I could be completely in my integrity when I said “yes” or “no” to taking on a client and I didn’t need to cling desperately to people I wasn’t the right match for because I needed to pay my mortgage.
I was only willing to resign from my job when my self-employed income had reached a relatively reliable level. So, rather than seeing the job as a never-ending prison, decide your “leap” point. What profit do you need to be bringing in through your business before you can focus fully on self-employment? Get realistic with an actual number (go on, write it down now) and that’ll put the end (and hope!) in sight.
Get strategic
With limited self-employed hours, and part of your thinking time dedicated to other work, it’s even more important to be deliberate when choosing which activities to devote effort to. Plan your day the night before and work as efficiently as possible.
- Go for vertical marketing rather than horizontal
- Don’t work for free
- Raise your prices when it’s time
- Choose marketing methods that get you visible
- Make sure the right people know about you
- Check you’ve chosen a financially viable niche
Ration your email time
Most of us spend way more time in our inbox than we really need to. I can run my business on an hour of email per day; I’ve yet to meet anyone in the early stages of business who needs longer.
How to cut down? Unsubscribe from mailing lists. Like physical mail: implement a “touch once” policy. Don’t reply if no reply is needed. Keep emails short and sweet.
These efficiency practices apply to social media too. Hours spent on Facebook is rarely the most profit-friendly use of your time.
Check in with yourself – could you save time here?
Lean in to Connection
If you’re in a panic about growing your business quickly, you won’t be enjoying the journey – and with that rabbit-in-the-headlights mentality, you’ll be missing opportunities. You won’t catch eye contact with the person on the train who would actually decide to hire you. You’d reply to an email too hastily and miss the chance to ask for business. You’d freak out in a consultation and botch a sale.
It’s vital that you remember you’re not doing this alone. You are supported. You are unconditionally safe and your security does not depend on how rapidly your business takes off. If you’re struggling to put a daily Connection practice in place, check out this quick tip – and you might also love this Creating Safety Toolkit.
Over to you
Are you balancing a day job with going self-employed? Any great tips to share with Jeff and others who are wondering how on earth it can be done? Leave a comment below, let us know.
Tea break, anyone?
Throughout this blog post, I’ve linked to a number of short videos. Didn’t spot the links? Fear not – here’s the full playlist of Quick Business Tips – bite-sized inspiration, each digestible in a 3-minute tea break.
And if you want even more inspiration, come along to one of the upcoming Live Events and meet others who are transitioning from their day jobs to the self-employed life. It’d be great to meet you.
© Corrina Gordon-Barnes 2013
Your weekly newsletter arriving in my inbox is proving to be extremely effective on two levels. The information you’re offering is extremely useful, digestible and provokes me into new action in different directions as I build my business. And your communications serve as an inspiring model for effective business promotion. Thank you!
Lucy – Great to hear, thank you.
Thanks Corrina, Look Again is developing very fast but I want to stay true to my vision of using photography as a creative tool for personal, business and community development rather than get side tracked into doing work I do not believe in so much. I am applying for part time jobs that are not too stressful so that my financial needs are met with less pressure.
By the way, I’ve been meaning to write to you for ages to explore possible synergy between what we both do. We could have a chat some time. My details are on my site.
WIth best wishes
Ruth
Hey Ruth – delighted you’re looking for low-stress/no-stress job options. And do contact me via http://youinspireme.co.uk/contact to let me know what synergy you see.
Thank you for the practical advice in this post Corrina. This question has been at the back of mind for the past couple of months now, and one that has come up in discussion with other new business owners. This post also led me to take a look at a couple of your podcasts. The aptly named “Rather Stay Under Your Duvet Than Build Your Business?” was particularly useful as I’d been very much feeling like that this morning. With a little change in mindset, I’m now off to work on my priority tasks.
I can empathise with Jeff as I’m in a similar position,having just stated a part time job again to supplement my self-employed income and to remove the pressure to ‘make money now’!! I had stopped enjoying my business and was becoing very ‘contracted’ around money which felt counter productive. Anyway I just wanted to bring another perspective – I too was worried about going back to work, but in fact am delighted to find that the period of business building and really focusing on my coachng ethos and skills has transformed how I approach the ‘day job’. So there isn’t such a disconnect between my self-employed and employed selves. And Corrina – perfect timing for this post, as ever
Sally – That’s an excellent bonus result! Thanks for sharing that additional perspective. Similarly, an employed position can help a self-employed person build up confidence, skills, contacts etc so ideally both selves will fuel the other.
Hmmmm, I am in a slightly different dilemma. I have 6-10 months basic essentials salary (redundancy) left to keep me going… Do I keep giving 100% to building a passionate business that I really want, or do I divide my time with a part-time job to allow the salary to stretch further? Hmmmmm…..I seem to have difficulty fitting into job descriptions these days as I did the same thing for twenty years which turned into drudgery, and am now too burned out to go back to it…
Lisa McLoughlin´s last [type] ..The inbetween HSP—not broken, but not flourishing either!
Lisa, I waited until I was spent out, and rather wish I hadn’t.
I’m still enjoying my new job, and am much more able to deal with exactly those aspects that saw me tearing my hair out before (possibly I have a new niche now!!)
Sally Branch´s last [type] ..Feel the guilt and do it anyway…
Lisa, I agree with others. Since it’s highly unlikely that anyone can grow a business to support themselves full-time in 6-10 months, taking a part-time job is the smartest option. Not only will your funds last longer, but you will be held to a regular schedule of some kind and it will help you maintain a structure to your life and be a powerful encourager to keep you utilising your time the most efficiently. It’s a win win.
Lisa, one way of making your business income go further is reviewing your cash flow and expenses. Happy to have a look over for you if that would be helpful.
Rosie Slosek @1ManBandAccts´s last [type] ..Cashflow starts with the letter C
Hmmm reading this and thinking:
In my world of having a job and my self employment there is another challenge.
Having a part time job is a tricky convenience that does take some pressure off in terms of getting my business up to scratch. Because in the end, I am surviving without having even one client.
A little honey trap not to fall into… and I can smell the sweet scent of it repeatedly.
On the other hand I know that my part time job gives me structure and more time spend active. Procrastination on my own tasks becomes less of an issue and with more on my agenda I simply get more done.
Lots of love,
Laura
Laura Ahnemann´s last [type] ..Clarity – feels like a breeze
“Oh the place you’ll go!” – living a double life can be exhausting at times, but it can also be an exhilarating experience. Having juggled both a full time job and a side business for the past 3 years I know only too well how frustrating it can get. But the secret that I’ve found in balancing both is to remember that both don’t have to be mutually exclusive. How can you bring more of each in both? The more I can bring my coaching business into my full time job, the more I get to experience and live fully my passion in life. I strongly recommend you read A Book About Innocent (http://www.amazon.co.uk/Book-About-Innocent-Things-Learned/dp/0718153170). It explains the journey of the founders to establish Innocent Smoothies, despite having full time jobs. Thanks again Corrina for sharing your amazing insight. Keep on inspiring us!
Mark Leruste´s last [type] ..Q&A with yummy holistic nutritionist Caroline Cain
Thanks for that perspective Mark!
Mark, I definitely agree with you. I too am juggling part time work and my coaching business – and kids too! It’s actually helping me on many levels; to be focussed, balance my time really effectively, and I’m also in a great place to get clients! I have managed to start building a reputation through my 1-1 coaching of some colleagues (yes they are paying me) and I’ve now been approached by my employer to do some freelance work for them. So there are many advantages to doing both, whether long or short term I wouldn’t write it off but see it as a great opportunity for developing networks and finding new clients.
Well Corrina it looks like I’m not alone. Sometimes we have to take a step or two backward in order to move forward. Yes, perspective is a big thing, and looking at some other form of making money while building the business casts that “job” in a healthier light. I feel like a sacrificial lamb for introducing my topic, but at the end of the day if it helps me and others going through similar situations, then it’s all worth it. Thanks for keeping in touch, for your advice, and for encouraging contact with others so we all help each other.
Jeff – Thank you for inspiring this post – you were brave to put yourself forward like that and I’m glad you’re seeing you’re not alone.
Hi, I can empthasise with that as Im doing a day job and working part time with the coaching. More energy goes into the day job rather than the coaching and never seem to have enought time for the coaching. Ive now been doing this for 1yr 7 months with exhausting effects but worth it. Hopefully one day I will be able to make this transition.
I had begun to despair, being in a full time job and spending my free time building my business. The first subtitle here “its temporary” begins to seem real when you have a “jump point” figure written down. Thanks for some practical advice.
Rebecca – My pleasure, and I wish you every success with building your business.
I read a blog post recently from someone who had saved up 3 years salary, so when his boss finally pushed him too far, he quit on the spot.
He must have been in a well paying industry, but my take away from it was about creating options so whatever is being done doesn’t feel like a trap or a dead end, that you have to do.
Rosie Slosek @1ManBandAccts´s last [type] ..Grow your business: put yourself in the path of opportunities
Good points, all, Corrina!
Even a “soul-sucking” day job can feel better, when you have a solid if/then-point in view; and “how you look at it” makes all the difference.
Karen J´s last [type] ..Aaahhh! Fairyland…
My point of view. I ran out of my full-time, stressful, time stealing job 3 years ago with a good redundancy package. This was what I had been yearning for.
6 months into my self-employment immersion I was in danger of getting a little low, lonely, unmotivated. The jump from a very lively, responsible job into spending most days alone waiting for the phone to ring was a little too much.
I got a part-time job. It was my saviour. It allowed my money to stretch and allowed me to train as a Coach. It gave me back some confidence and motivation. It provided some structure to my day. It helped me focus. It gave/gives me inspiration which fuels my business. It allowed me to have major surgery on my spine last year, which has improved my quality of life. Ok so it’s not my dream job and neither does it feature in my long term plan for me. From my perspective Embrace the part-time job. If you choose well for your present needs it will help grow your business. XClaire
Claire´s last [type] ..St. Valentine – Is love all around?
Claire – “I got a part-time job. It was my saviour.” – love this – thank you so much for sharing.
I had a contract as a community manager (the people who manage online social networks) just before I started my business. It was meant to be ongoing, ended after 4 months, and was very helpful in clarifying a lot for me.
I loved the work and learnt a lot about Facebook advertising (I was writing ads and had a proper budget), but towards the end, I was getting touchy to leave. The excellent pay for a short time went a long way in investing for my future. I created a wonderful atmosphere at home with a few minor interior design changes (bedding, really good pillows), new chest of drawers I adore – and that space is now nourishing, where it wasn’t before.
As soon as the contract ended, I started my current business, and I ended my first year well into profit. (HMRC expects businesses to be in a loss in their first few years, if anyone doesn’t know this).
As an aside, if anyone is interested in chatting about Facebook ads, email me as I’m happy to share my experience to the community here.
Rosie Slosek @1ManBandAccts´s last [type] ..10 Surprising Ways An Accountant Can Benefit Your Micro Business
Thanks for the comments about me getting a part-time job. Interestingly I have been monitoring the Guardian, third sector and other sites and have not yet found a part-time job I am able to apply for. I don’t seem to fit anywhere. I am now unable to work as a physiotherapist now due to a wrist problem…I have applied for many jobs and not heard anything…which is not the best for self-esteem. So, whilst your advice makes great sense, I do not appear to be getting the opportunity to even do apart-time job so I invest my energy into building a business and being an MSc student. I will keep exploring though and if I see an opportunity to work part time I will leap at it!
So, spare a thought for the person who is not able to find a job and is trying to stay hopeful that with time and persistence her leap of faith to work in an area she loves will pay off!
Lisa McLoughlin´s last [type] ..First video for Green Alder coaching…
Hi Lisa
I hear you.
And I empathise with your “hope that with time and persistence her leap of faith to work in an area she loves will pay off”
I’m with you.
xClaire
Thank you Claire
Onwards and upwards!
Lisa McLoughlin´s last [type] ..My video on one way to tackle procrastination…