You may be feeling like it’s time-
Time to leave your 9-5 and pursue your spiritual business FULL TIME.
You’ve been holding your breath while you work your soul-sucking (or at least boring) muggle job but it’s time to really commit to your soul’s calling and go all in on your business.
I know this space well. It’s exciting, nerve-racking, mind-bending and the stress can be a little overwhelming.
After having personally worked with several clients who have made this transition, I’ve come to understand this delicate and important time. They hired me to support them with their marketing strategy and business development (aka- WHAT DO I ACTUALLY DO TO MAKE MONEY?) because they chose to not move through that shift alone. There can be many moving parts to building a thriving coaching or healing business but there is one challenge that literally everyone moves through:
“I need my business to have a stable income before I leave my job.”
I’ve broken down some of my best strategies for this specific concern below. Let’s jump right in.
Do The Math
The first thing you want to do to prepare to leave your job for good is to get HONEST about your income requirements.
Look at your monthly recurring bills- domestic and business related bills- and add them up. Don’t forget to add in many drinks of coffee, an emergency fund (you can contribute to this monthly while you prepare to make the shift), and a FUN fund. Don’t skip that last one. You will need to have time to play in order to stay in flow with creative energy.
Once you have that number, put it up somewhere visible. This is your first income goal.
Think back to the prices for your current offerings. How many do you need to sell per month to hit or exceed that income goal? This number gives you a good idea of how many conversations to have and pieces of content to create per month.
The idea is to make sure that it’s actually possible to be supported by your business full time.
(Note: If it takes dozens of sales per month, you may want consider re-working your prices to be more sustainable. Watch my free training on this topic here.)
It can be downright terrifying to not have the backup income provided by your paycheck. While there are no guarantees in business, the best thing you can do to make sure you are not surprised by a lack of funds is to stay present.
At the beginning of your business, a large majority of your time should be going to securing new clients and setting a foundation for your online presence but paying attention to what money is scheduled to come in (from payment plans or monthly residual income) should be a DAILY activity.
What I mean is that Every. Single. Day. you need to come face to face with your income so you can take inventory of how much is coming in. If you do this and notice that it’s less than you need for your upcoming bills, you will have plenty of time to pivot your energy accordingly and get creative with calling in the cash.
If you do not stay present, this is what happens every time: you are caught off-guard when a bill is due and you don’t have the money. Then you will panic. Then you will put out a flash sale to try to come up with the cash but your energy is super desperate so people don’t buy. I’ve been through this cycle myself about a hundred times in my 5 years of working for myself full time. You can skip this by doing the math and staying present with your income.
Side-note: I’m going to hit you with some intense truth (based on mine and many of my client’s experiences) right now- stabilizing your business income while moonlighting is considerably more difficult that stabilizing it with your full focus. It’s not impossible but it does require you to be really intentional with your business time and your down time.
Avoid Tunnel Vision
The final tip is actually all about diversifying your income. I wanted to hit this at two different levels.
First, you should have more than one offer in your business. At least one high end offer and one low end offer. For example: if you’re a spiritual coach, you could have your 3-6 month program for $3-10K but you should also have something under $500 (an intensive, a single session, a reading, a mini course, a live workshop, etc.).
Obviously, you would prefer to have the higher end clients consistently from the start but there may be mindset issues around charging that high end price if you’re not used to it. While you’re getting practice asking for multiples of thousands of dollars, lots of concerns around self-worth tend to pop up and we don’t want that to completely stall your income.
A lower cost offer will give you somewhere to go if you’re on a sales call and your high end package feels too daunting to pitch. This serves as a a short term crutch while you work through your challenges of calling in high end clients consistently.
The second level of this is working other income streams separate from your business. This may rock the boat but I believe it wholeheartedly: You do not have to give every aspect of yourself over to your business. It is OKAY to have other streams of income that help you fill in the gaps while your business is growing. It’s actually not just okay, it’s great.
You are not a machine. There will be days that you’re creatively tapped out. As a spiritual entrepreneur, I know that if your energy is not aligned with whatever business task you’re forcing yourself to do on those dragging days, the results will fall flat at best. Giving yourself somewhere else to work will allow you to still earn some money while your energy works itself out. Also, most millionaires have close to 10 income streams.
Other options include Uber Eats, GrubHub, Lyft and Uber.
All of these side-gigs allow you to set your own schedule or pick from available time slots which is GREAT if you are working with clients during typical business hours.
These are just 3 tips and I want to invite you to dive deeper into this. First, visit the Mindset Edition of this post written by Sahara over on her website. Then sign up for the free training below.
Quitting Your 9-5 and Starting a Spiritual Business- The Ultimate Guide.
This is a FREE webinar with Sahara Page and myself, Nannette Minley, on 5/25/2018 at 1PM Pacific / 4PM Eastern.
Sign up to gain access to this webinar by filling out the form below.