For many coaches, the concept of "business" feels like a foreign language. As people-centric individuals, it’s not uncommon for coaches to freeze at the idea of running a business. The result? Challenges like finding clients, maintaining cash flow, and preparing for disruptions—such as economic downturns or shifts in trends—often seem overwhelming. On top of these business hurdles, many coaches also face personal challenges like loneliness, reaching a growth ceiling, and burnout.
The solution lies in adopting an entrepreneurial mindset—a perspective that combines personal and business growth. This mindset allows you to not only improve your craft but also build a sustainable system around it. It’s time for coaches to stop seeing themselves solely as coaches and start approaching their work like entrepreneurs.
Common Barriers to Entrepreneurship for Coaching
Coaches often love the human element of their work—sometimes to the point that they hesitate to take the risks needed to build a business that scales beyond one-on-one interactions. The idea of building a scalable business can feel intimidating, due to a combination of factors: the fear of failure, the complexity of the “business world,” and the uncertainty that comes with creativity. This is where adopting an entrepreneurial mindset becomes essential. It requires ambition, resilience, and a willingness to build systems that go beyond direct service delivery.
Reframing Entrepreneurship
Entrepreneurship isn’t just about making money. It’s about answering deeply existential questions like “Who am I?” “What’s my worth?” and “How do I want to make an impact in this world?” Most importantly, it requires both deep reflection and active creation. Entrepreneurship allows you to create systems that extend your impact, go beyond delivering services, and contribute meaningfully to the world. It’s a modern spiritual journey that merges purpose with action.
The Difference: Coaching vs. Entrepreneurship
Freelancing or coaching is about providing services, with income directly tied to the work done. Entrepreneurship, however, is about creating a business model that works for you—even when you’re not actively working. Entrepreneurs build assets—products, systems, intellectual property—that allow them to generate value on a larger scale. This shift from providing services to building systems is key for coaches looking to make a broader impact.
My Startup Story
I have been in the growth industry for over 17 years, working in various roles in corporate innovation, marketing, and consultanting. After spending the past decade building my own creative consultancy and team of consultants in Shanghai, I decided to start over in Lisbon, Portugal. And to be honest, it has been a real challenge, having simply been away from America/Europe for 14 years, entering a very saturated market, no one knows me or my achievements… but I do see this as an opportunity to build a different kind of business. Also, having built a few companies already, I know what it takes to do it again. Of course, there will be surprises and challenges in this new market, but fundamentally, I have the confidence that I can achieve this rebuild.
Key Areas for Transitioning from Coach to Entrepreneur
To make the leap from coach to entrepreneur, focus on three key areas: mindset, behaviors, and resources.
1. Mindset: Shift Your Perspective
Change starts with your beliefs and influences. Ask yourself: why do I identify as a coach, and not an entrepreneur? Who are my role models? Are they other coaches, or business leaders? Shifting to an entrepreneurial mindset involves adopting new influences and questioning your assumptions.
2. Behaviors: Actions to Develop Entrepreneurial Skills
Change doesn’t happen without action. Here are some ways to transition to entrepreneurship:
- Learn by Doing: Stop overemphasizing certifications and courses. Instead, get out there. Attend startup events, hackathons, and social innovation jams. Surround yourself with entrepreneurs, learn their values, and get a sense of the challenges and excitement of building something.
- Practice Selling: Selling is an essential skill for entrepreneurs. Help a friend sell at a craft market, or create a simple website to sell your services. Understanding how to communicate your value is crucial.
- Think Strategically: Allocate regular time for strategy. Once a month, take a step back and look at your business model. Assess how close you are to your goals. Find a business buddy or mastermind group to help you reflect, and always focus on improving the weakest aspect of your business—whether it's branding, efficiency, or cash flow.
3. Resources: Find Continued Inspiration
Transitioning into entrepreneurship can be overwhelming. It helps to have resources that support your journey. Find podcasts, books, and articles that keep you informed and inspired. Diversify your content sources to cover business strategy, mental health, and cultural trends.
Final Thoughts: Be a Systems Builder
Transitioning from a coach to an entrepreneur may seem daunting, but it’s a gradual process. Building a successful business requires an entrepreneurial mindset—one that embraces risk, focuses on building scalable systems, and balances purpose with practicality.
When you adopt this mindset, you not only expand your business but also experience deep personal growth. Ultimately, being an entrepreneur means building something greater than yourself—something that makes a lasting impact on the world.
Recommended podcasts to feed an entrepreneurial mindset
- Harvard Business Review
Pricing Strategies for Uncertain Times | HBR IdeaCast - How I Built This
Headspace: Andy Puddicombe and Rich Pierson (2019) : NPR - The Pitch
#78 Got Goals? Grab a Cru | The Pitch - Startup School by Y Combinator
How Investors Think About Ideas - Wufoo Cofounder Kevin Hale - Modern MBA
How Casper Failed & Why DTC Startups Lose Money - Wes Cecil (Professor of Philosophy)
The Problem With Seeking Knowledge - The Futur (Branding & Design)
What Is Brand Strategy And How To Do It (Step 1)
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Brian Tam
Thinking partner for thoughtful founders
This was originally a talk for Sara Eisermann's "WildCoaches" community, converted into an article by ChatGPT (based on my notes) and heavily edited by Brian.