How to Make it as a Full-Time Coach in a Saturated Market

(Originally posted on June 4, 2019 and updated on January 22, 2020 for freshness and relevance)

The Not So Pretty Truth About Coaching

(and what you can do about it)

In the summer of 2016, I took the plunge and walked away from an 11-year career in association management. I had traveled the world, managed teams, turned organizations around and built amazing relationships. But something was missing and no matter how many associations I added to my portfolio, I couldn’t get that feeling I used to have.

I had run over fifty meetings and brought in hundreds of thousands of dollars, it could’ve been millions, but the chase that used to get me excited dimmed out over time. So, after hitting my own personal wall (you can read more about it in Spitting Fire), I decided to get certified as a coach and leave my career to go at it full-time.

Ah those were the good ol’ naïve years where I thought I could bring in six figures in the first year and people would be banging down my door to work with me. After working with a client who was definitely not the right fit, the pool of clients dried up quickly. And that’s when the panic set in.

“What have I done?” 

“Is it too late to get my job back?”

“How long can I live off of my savings?”

First lesson…

Know your numbers and your threshold for emotional, energetic and financial risk.

In month two I was tempted to take on a full-time job back in the association world. Thankfully the decision-making process of the Board of Directors took long enough for me snap out of the financial-safety day dream. I took on a couple more clients by the end of the year and made a modest $13,000.

To be honest I was happier being out of a toxic work environment and not crying every night in those first few months. But then the reality of a $2,000 rent, health insurance, dog expenses, and the other essentials like food and utilities snapped me into a true Oh Shit! Moment.

Then like the universe heard exactly what I needed, a friend and fellow coach swooped in and asked when I was getting my ACC credential (ACC credentials are through the International Coach Federation and require 100 certified hours – 75 of which are paid). I hadn’t even though about it until she opened my eyes to CORPORATE CONTRACTS. It was like the clouds parted and the sun started shining all over me. Gone were the business development struggles. Gone were the hurt feelings when a client left. Gone were the headaches of billing. 

“This is it! I’ve made it!” I thought to myself.

Lesson two…

One opportunity is not going to make or break your business. It’s up to you to attract in and manage a diverse selection of opportunities.

I gathered all of my coaching hours and realized I only needed a few more to apply for my ACC. Within two weeks, I applied and passed the exam and had my ACC. 

“Now everyone will want to work with me, an ACC certified coach!”

Oh, sweet little naïve me! Looking back, I want to give her a hug and stroke her hair, but business owner me had some serious lessons to learn.

I wore those three letters in every conversation. “I’m a CERTIFIED ACC COACH,” assuming anyone other than a coach would have any idea what I was talking about.

The disappointment grew when my monthly numbers were barely covering my rent. In an effort to cash hoard, I began charging my rent on my credit card along with everything else. This continued for eight months until I had amassed $17,000 in credit card debt. I share this with you not as a bragging note, but to be real with you. Whether this was a mistake or not is up to the eye of the beholder. All I know is seeing money in my bank account felt much better than a low balance on a credit card statement (and I sure did love the 2% cash back).

The corporate contract that was supposed to make my year, was in a pilot program and took almost the year to get going. In my head I would be making bank, but in reality, it covered my health insurance.

Time to put matters into my own hands. The fire got lit under my behind to start reaching out to other business owners and coaches to get out of my head and my apartment. I clearly wasn’t going to solve this cash flow problem on my own, so why not interact with some cool chicks.

Lesson 3…

You can only get so far on your own. Reach out and connect to the people that want to see you succeed.

I began facilitating the Socialpreneurs on Capitol Hill with six women in different stages of business who met once a month. We let our guard down, asked for help and offered support. Maybe it was how I showed up or maybe I stopped being so desperate, but whatever it was, that group brought me two new clients at an increased rate.

“I’ve made it! My niche is now small business owners.”

I updated my website and changed my packages. I switched from SpitFire Coach to Lauren LeMunyan Coaching to be more appealing to the masses and anyone who owned an LLC would get the acronym and logo design.

I brought in a few more clients and learned a very critical lesson… number 4 in fact

Do not offer discounts or favors to friends until after the full-price transaction has been agreed and/or paid

Why you ask? When you offer a lower rate or do things as a favor, the other person may expect this rate to continue and may not value your services at the valuation you would offer to someone else. It may feel more like an obligation or something you should do.

I felt almost a debt to this person and the more they asked for things, the more I caved in and did it. I hoped that they would reciprocate, but when the requests kept coming, I finally hit a wall and shut down. Sadly, that relationship is now null and void.

My insecurities and doubts as a business owner were leaking into every decision and conversation I was making.

From obsessing over website verbiage to changing package pricing and even bouncing back and forth with my target audience based on who hired me, my confusion was making my crazy and causing me to lose money.

Then in year 2 of business, I woke up. I reengaged with my fellow engine coach and got clear on financial goals and daily intentions. I got back to who I was and who I wanted to be. That’s when The SpitFire Coach as a brand was relaunched. It’s also when I stopped making excuses for not writing a book and got to it. I kept using the book as the block for not speaking at conferences, not working in corporate, and not making more money.

One day at 2:00am, it all hit me. It’s time to write the book. Within six weeks, the book poured out of me. I pledged to myself that I would only work when I was inspired, and I would stop when I was tired. I’m happy to report that I kept my word and published “Spitting Fire: Your Guide to Reignite and Maintain Your Passion at Home, Work and Beyond” in August 2018.

This leads me to lesson five:

A book does not make you an expert, but it does make a very handy business card.

The more clarity I got around my vision and core values, the more I detached from the outcome. The book was never about monetary sales or media exposure. My goal was to help person – and that person was me. Publishing the book gave me the confidence to apply for speaking opportunities, have honest conversations with strangers, and ultimately believe in myself as a SpitFire.

To date, I have spoken at over 40 events and have sold over 2000 copies of Spitting Fire.

After almost four years in business, I am amazed at the success I have achieved. I have worked with over 200 professional clients located around the globe including Hong Kong, South Africa, Spain, Scotland, Brazil, Canada and 12 states in the US. I’m working with business owners, emerging leaders and professionals looking to start their next opportunity. I’ve logged over 1200 certified hours and now have my PCC with my eyes set on the MCC within two years. Last year I more than doubled what I made the previous year, shattered the 6-figure mark, and wiped out my debt.

I’ve made amazing connections with other coaches and look forward to building incredible opportunities. What I’m most proud of is the trickle-down effect of the tools and skills my clients have learned and are able to now teach to their teams.

And for my final lesson…

When you believe in yourself, anything is possible if you’re willing to put in the time and energy.

Owning a business is not for the impatient, greedy or ego-centric. Give yourself the space to create, reflect and adjust. Give yourself the kindness when you get knocked down. And most importantly, give yourself a celebration when you succeed in your vision!

100 Days of Blogging: 7 Lessons Learned

The Tuesday after Labor Day, my boyfriend left for Barcelona for a week with his mom on their annual vacation. After getting over the initial funk of being left behind, I decided to take advantage of this new found free time.

It had been over a year since I wrote with real substance. I was on my way to finishing two books when it all came crashing down. A personal story I shared with a family member was passed along to other family members and blew up in my face. In retrospect, I was sharing my diary and that wasn't meant for anyone else's consumption. I always loved to write - even term papers in school. I would love to feel the slight resistance of the keys under my finger tips and got giddy watching the screen fill with words. I missed my old friend.

With a relatively open calendar, I decided to embark on a long-term challenge - write every day. What started as a 30-Day Blog Challenge quickly evolved into 100 days. People thought I was crazy or that I would quit. Like most people I lost interest pretty quickly in challenges, but this was different. This was an opportunity to spark my creativity, increase my accountability and share my thoughts and opinions.

I wrote about relationships, business, life hacks, time management and my dog. Whatever I was passionate about at the moment, I wrote it down. My workouts and walks soon became opportunities to brainstorm new topics. My friends and clients inspired advice-based posts. I saw the world and myself in a new way. I became a writer.

I can now say that my writer's block is resolved and I've created two e-books as a result of the blog with more on the way. I am comfortable in front of a keyboard and love writing again!

Here are the Blog Stats By the Numbers:

Total Word Count Over 100 days: 37,999 words (damn it, I just needed one more word for 38,000!)

Average Word Count Per Post: 379 words

Longest Blog: 977 words (http://laurenlemunyan.com/30dayblog/=/10-things-you-should-and-shouldnt-do-when-starting-a-business?rq=should%20and%20shouldn%27t)

Shortest Blog: 169 words (http://laurenlemunyan.com/30dayblog/=/6wzyipmv9tpwbp1ms05hqsq5mt71m3)

My Favorite Blog: http://laurenlemunyan.com/30dayblog/=/6wzyipmv9tpwbp1ms05hqsq5mt71m3

Most Read Blog: http://laurenlemunyan.com/30dayblog/=/10-things-you-should-and-shouldnt-do-when-starting-a-business?rq=should%20and%20shouldn%27t

This wasn't all fun and self-realization. I learned some hard lessons along the way. 

Lessons Learned

1)      Proofread Before Posting. My mind works faster than my fingers and at times I skip over words and “ings” or “ed.” I'm pretty sure each post had at least two errors in it, which my mom was happy to point out. I've since tried to go back through and fix the glaring errors. When posting every day, time is of the essence and in my opinion it doesn't need to be perfect to be done.

2)      I’m human. I make mistakes and if you judge me based on my spelling or grammatical errors, I challenge you to a 100-Day Blog Duel! Do you accept?? In all seriousness, human error is a real thing. I've learned to be more patient and less judgmental when I see errors in other people's work.

3)      Doing Something Every Day Can Be A Challenge, But Anything is Possible. Even with workouts and diet, I was never on every day. I actually thought I may have to skip a day or two, but fortunately I could plan out my week to schedule a post or two if I knew I was going to be busy. I love a good contingency plan! This was no exception.

4)      Not Everyone Cares That You’re Writing a Blog. Blogs are like opinions and podcasts (I have one of those too!), everyone has them and some are more in your face than others. It’s up to you what you decide to spend your time on. I hope I provided value, if not, then entertainment. On the same note, don't get wrapped up into the visits or reads of your post. I got more excited hearing from the one person who read a post and learned from it than the 200 people who read and said nothing.

5)      I Say I Won’t Do This Again, But We All Know It’s a Lie. This was a huge undertaking and I’m pretty tapped out from writing. I’ll take a break and reassess where I want to use my time and energy in the future. (2 Months Later.... I'm back at writing, but not as a daily practice or challenge.)

6)      Not Every Post is My Favorite, But They’re Mine. I guess blogging is like having a lot of kids. Some are cuter than others. Some help you. Some are jerks. Some you wish never happened, but they all come from you and for that you love them! (Can you tell I’m not a parent?) 

7)      I’m Capable of More Than I Think. Yes, I pushed myself and maxed out my energy. This was a challenge to break out of my judgment and restraint around writing. That has certainly been busted into a million pieces. I am a writer. I am a blogger. I am a coach. I am awesome.

I can’t believe this challenge is over. It’s bittersweet, which sounds so cliché. It’s been my weekend writing ritual and my morning posting routine. It’s been my outlet of expression and door to connect with others. It allowed me to take risks and say what was on my mind. It also left me wide open to judgment and criticism. It was a constant reminder to stay on my path, but also served as a distraction to other important aspects like self-care and focusing on core business practices.

It’s been a journey and I’m happy I took the first step. So here’s a giant high-five to me!