Discover how to create your own job in 7 simple steps.
Written by Jodie Nevid The Fairy Godmother For Women In Business
Creating your own job is the way of the future, in this article you’ll learn why now is a great time to start a business as a coach, consultant, or expert and how to get started in 7 simple steps.
Let's start with the why…
Outsourcing, automation, and AI (Artificial Intelligence) has been squeezing the Job Market for over a decade, then in 2020 the Coronavirus comes along and boom – the job market receives the sucker punch of the century.
Industries collapsed, businesses closed, and thousands of jobs disappeared, never to be seen or applied for again. It might seem like bad news on the surface, but look a little closer and you will find the opportunity of a lifetime! COVID has proven that this notion of a ‘safe secure job’ is no longer your safe secure option. “Hmm.. but where’s the opportunity?” I hear you ask.
Well, here it is...
CREATE YOUR OWN JOB
Get it right and you’ll find a kind of financial freedom you didn't even know existed.
Thousands of professionals have been ‘let go’ from jobs and competition is rising in a rapidly shrinking job market. And whilst the majority of people who’ve lost their jobs will think their best option is to find another job, I suggest you do the opposite. Mark Twain once said; “Whenever you find yourself on the side of the majority, it is time to reflect and pause.” Now is that time.
The old ‘Institution’ model is collapsing and emerging from its ashes, like a flock winged Phoenix’ comes a new wave of professionals – The Lifestyle Entrepreneurs. As jobs disappear many are seizing the opportunity to break free from their golden handcuffs and swap reporting to a boss for becoming their own boss.
I call this movement The e-Shift, and it’s happening all over the world as organisations of all sizes exchange expensive underperforming employees for results-focused coaches, consultants, and contractors.
DON’T BE KODAK
If you cling to the past or keep yourself stuck on a sinking ship you could miss the greatest gift 2020 had to offer. The gift of being able to create financial freedom in a time in history when it has never been faster, cheaper, or easier to build a business and make 6-figures working part-time is now.
THE QUESTION IS CAN YOU SEE IT?
Let me give you an example. In 2010 I was an employee earning $120,000 as a leadership trainer, executive coach, and organisational culture consultant. I was a single mum, a high preforming workaholic through the week, and a social alcoholic on the weekends when my son went to his dad's.
Most days I felt trapped and exhausted. I was sick to death of peak hour traffic, long hours in the office, and that dreadful feeling of never having enough time. Like many working professionals, I gave the best parts of me to my job and came home with only scraps of me left for my family.
Then, one night I had a meltdown and cried on my Nana’s shoulder about how much I hated my life. Nana patiently listened then said in her kindest voice; “Well darling, if you don't like it you should change it.”
Nana’s words cut me like a knife. A feeling of rage welled up as I thought “Change it?? How dare she?? If only I could!!!” I kept my thoughts to myself and feeling like a victim I gathered up my stuff and my son and we left. But that night Nana’s words continued to haunt me.
IF YOU DON’T LIKE IT CHANGE IT.
I couldn’t sleep. Then finally at 3 am a new question dawned on me.
If I Could change it, what would I change it to?
I decided I wanted my freedom and having been in business before I figured that would be my best option. I wanted a business that would allow me to:
- Make 6-figures a year
- Work 3 days a week (Tuesday to Thursday)
- Take all the school holidays off
- Travel overseas every year
These 4 simple dot points became my blueprint – I decided I would make it happen. I shared my vision with my clients and colleges, they thought I was mad. “If that was possible Jodie we’d all be doing it!” Many scoffed.
But I knew it was possible.
By 2014 I was ready to take the leap and launch the business. In year one my business made over $164,000 cash collected, and $250,000 of work was invoiced. In year two the business almost doubled with $279,000 cash collected and over $300,000 of invoices.
And the business continues to grow year after year and is now on a trajectory to become a 7-figure coaching business, with just little old me, a once stressed-out single mum at the helm.
- It wasn’t that hard.
- It cost hardly anything to set up.
- Everything I did was built around my existing skills, knowledge, and experience.
- I developed my own Life Design and Leadership content and taught what I already knew.
- Then by my third year in business, the number one thing clients wanted to learn from me was – how they could do what I'd done.
- They wanted to know how they could turn their existing skills into a 6-figure coaching or consulting business.
So here are the 7 steps to make 6-figures a year working part-time doing what you already love and know how to do.
7 STEPS TO CREATE YOUR OWN JOB
1. Crunch Your Numbers – your business needs to be built on the right financial foundation. We want it to make you money right out of the gates. A good financial model for coaches and or consultants is to design a model that makes at least $120,000 with 50 clients or less. And the best way to do that is with one high-value program. Remember it’s easier to sell less high-value programs than lots of cheap low-value programs, and it's much better for your reputation and lifestyle. A lot of people stuff up the numbers and set themselves up with a business that will have them burnout and broke in no time. To help you avoid that I developed a fantastic tool called The Coaches Calculator™.
2. Foster Your Faith – as Timothy Gallwey’s book suggests your ‘Inner Game’ determines your success. It's not a lack of business knowledge, systems, or money that will hold you back. It’s fear, perfectionism, procrastination, and self-doubt. Sort out your inner game before you get into the game of business. Martin Luther King once said, "Faith is taking the first step when you don't see the whole staircase." The first step is your numbers and the second step is your faith in your ability to achieve those numbers. Develop a deep and unwavering belief in your ability to succeed. Tell yourself you can and you will.
3. Put Structure Around Your Skills – I have a process called The Great Unpack where I unpack my client's existing skills, knowledge and experience then organise it into one high-value program. What you already get paid to do in a job can be your first business, become an expert at that. All you need to do is put structure around the number one thing you can help individuals or organisations achieve. Map it out in a step-by-step process then turn it into one signature program you can become famous for.
4. Create Your Community – you don't need thousands of customers or millions of followers to make 6-figures a year. In my first year in business, I made over $164,000 and $124,000 of that came from just 3 clients. I got those clients by
A) Being a leader in my own community
B) Being an active and valuable member of other people's communities.
By communities I don't mean your local neighborhood, although that could be valid, I mean humans gathering online or in-person around common goals or interests. As you are reading this billions of people are engaging in niche communities, find a few you like and show up! It's easy, in fact, you're doing it right now in the E-Bubble community. Step it up a notch and become the leader of your own highly engaged tight-knit community.
5. Set Up Simple Systems – You don't need fancy technology or software to get started, there are lots of fantastic apps and platforms you can access for free to grow your business. If you read Mike Michalowicz book Clockwork you'll realise there are only 4 things any business needs to systemise, Mike calls it the ACDC.
- Attract new leads
- Convert them into clients
- Deliver amazing stuff
- Collect your cash
Systemise the way you do those 4 things and you’ll be earning more and working less in no time.
6. Focus On Results – Listen up because this one is important. Your results matter more than your qualifications. You don’t need more pieces of paper to get started. You just need to focus on results. Everything you do from your program design and marketing to service delivery must be results-focused. For example, I helped a client Suzanne launch her famous 5In4 Program the result is she helps women lose 5 kilos in 4 weeks by changing their relationship with food. When we met Suzanne wasn't making much money, she was charging by the hour operating as a ‘jack of all trades’ coach. We focused on one result and positioned her as an expert and today Suzanne is fully booked making over $10,000 a month. If you want to earn more and work less you must build a results-focused program and use measures you can track. The world's highest-paid coach Tony Robbins once said; "I don't have any formal qualifications to do what I do but I have a Ph.D. in results." Be like Tony (and Suzanne) focus on results.
7. Give With Purpose – people get into coaching or consulting because they love to help people and solve problems. The upside of that is they have big full generous hearts. The downside of that is they accidentally build a not for profit instead of a business. Giving back and having an impact is an important part of business and life and if there's a worthy cause that means a lot to you a great way to create more brand awareness can be to partner up and create a win-win partnership. When you're just getting started the right partnership with a bigger organisation or worthy case can put you on the map.
Now is a great time to seize the day and create your own job, because the best way to live a great life is to do what you love for a living.
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