The Risk-Reward Dynamic Of Being Your Own Boss

Our clients are smart people and we talk a lot about the risk-reward relationship in self-employment.

They’ve frequently scaled the heights in a corporate position. Success is their track record.

They’re competitive, and they know the importance of choosing opportunities in which they know they can win. That’s what self-employment is all about.

Self-employment is the answer to building financial and personal freedom.

Many clients like the idea of greater freedom but they ask about the cost or risk associated with the decision to “Go for it!”

Here are some questions from our clients about risk:

Q: I’m concerned about the risk of changing jobs right now. I have a good job and many people would actually like the job I have. I went on eighteen interviews to get this job. However, your thoughts about earning more money are appealing to me. I know what I make for my firm because I’m in a production role. Clients buy from me, not the company. They tell me this quite often. How can I balance the risk to achieve what you say is possible?

A: There’s a transitional approach to owning your own business that makes a lot of sense.

For example, I’m going to give you all the steps you need to take during our coaching sessions.None of these suggestions include “Quit your job now” if that’s not the best idea for you.

We take a very solid risk-reward analysis approach to making this important career transition.

I’m going to share proven, repeatable processes with you; processess that work!

Q: You say that it’s possible to make more money by working fewer hours. That would be great! But where am I going to find people willing to pay me two or three hundred–or more–an hour for my services?

A: This question goes right to the heart of why you need a coach and a proven process to transition to the kind of job that’s perfect for you.

There are certainly plenty of pitfalls along the way to building a coaching and consulting business and, if you don’t know where they are or how to identify them, success could be delayed.

The answer to your question is that, yes, it is possible to make more money than you earn right now with less time or location commitment. For instance, it’s possible to work ten hours a week, with just a handful of clients, and earn three or four thousand dollars per week. These ten hours can be performed anywhere. If you want to make more money, work a few more hours.

risk-reward dynamic of self-employment

Stop commuting, start living. Photo Credit: Cohdra

Q: I commute two hours to work each day and I would love to stop the madness. Where will my clients come to work with me? Can I do this virtually?

A: Commute time is lost opportunity, and it’s difficult to use this time productively or to even “relax.”

One of my clients told me the story of how her employer insisted on her having a solid Internet connection so she could work or attend virtual meetings while she was in the commuter train!

Your clients can work with you in an office if you choose. Most will work with you in whatever manner and mode you choose because they value the tools you have to share with them.

Strategy Session

If you’re like most of my clients, you’ve got questions about how, when, and where to get your business started. Let’s find the answers you are looking for during a complimentary coaching session.

You´ve got nothing to lose...and oh so much more time and money to gain! Contact me today:

www. williamholt.com/strategysession

 

About the Author William Holt

William Holt is the go-to coach and trainer for executive women wanting to transition to coaching as a way of sharing their professional expertise with the world. He is also the creator of the Holt Coaching Method as well as the founder and leader of the LinkedIn Group - Executive Women´s Growth Forum.

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