Confession: I just decided to pull the plug on $7,500 worth of income every month. And I have no plan to replace it.
Okay, let me back it up just a bit… A couple months ago, I attended a day-long conference for entrepreneurs. As an icebreaker at the beginning of the day, everyone sitting around the table introduced themselves and talked about how they were currently feeling in their business.
When it was my turn, I opened my mouth and the words that came out totally surprised me. “I am sick of myself!” I said. I felt frustrated and tired by what I perceived as my own lack of chutzpah.
In my business, I’ve always operated from a place of inspiration, taking quick action based on my gut feeling. It was exciting and inspiring – but over the last couple years, I haven’t been playing that way. And, at the time of the conference, I didn’t know why.
Time to Come Out of Hiding
It was time to have a “Come to Jesus” conversation with myself. As you probably know, I run two coaching practices and while there’s so much that I love about both businesses, there are still only 24 hours in a day. I realized that I can’t give both businesses the love and attention they deserve unless I change how I’m showing up.
And that’s when it hit me: I was hiding behind the success of my first business.
Don’t get me wrong. I love working with actors – they’re creative, inspiring and soulful and they take my breath away. I love the work I do with them and it could easily eat up every spare moment of my day.
At the same time, I’ve evolved as a coach and I now feel equally as called to serve other coaches the way I serve actors… and I haven’t been doing it.
I was sick of hearing myself share big intentions yet take no new action. I was a broken record talking about my big plans when I have the bandwidth…
Create the Space for What Comes Next
I decided to step back and look at all the components of my two businesses. Anything that didn’t go on the, “I love this 110%” list was going to get nixed so I could create space to play a bigger game inside Through the Roof.
And, let’s be honest – I also needed to light a fire under my complacent ass!
This takes us back to my big confession. On December 1st, I made the really brave decision to close down one of the major offerings in my acting business, a monthly membership program.
In itself, this program was a 6-figure operation, and there was a lot about it that I loved. But there were several aspects of it that I didn’t love and that led me to the decision of shutting it down:
1. It was administratively time-consuming and distracted me from Through the Roof.
2. It wasn’t providing the level of transformation that I know I can provide simply because of the way it was built.
So there you have it. I said goodbye to six figures in my business with no real plan to replace it. Happy New Year to Dallas.
But rather than getting freaked out, I’m ready to play a bigger game.
In fact, since I’ve made this decision, I’ve effortlessly built twice as many power groups and unexpectedly received three new private clients without any kind of marketing push. Talk about a high-five from the Universe.
Ready to Raise the Stakes?
When I look back at the times in my business when I was most creative, best-aligned and when I took the biggest risks, it was when I had external pressure.
Now I have that pressure and I feel a complete commitment to everything I’m doing in both businesses, as well as inspired to take Through the Roof to the next level.
So, as you move into 2018, consider where you can raise the stakes a bit. For most coaches, that doesn’t mean closing down your most lucrative program, but it might mean investing in mentorship yourself. Or perhaps moving outside of an accountability partnership that has become the status quo; it might mean moving out of your part-time job or raising your rates.
If you want 2018 to be wildly successful, raise the stakes so you have more skin in the game. I’ve done it, and I invite you to do the same.