Forget the Mistake, Remember the Lesson

If you are an experienced professional, and you are not thinking about launching your Online Coaching Business in your field of expertise… Big Mistake! 

Layoffs and downsizing

I was in a training programme in early July 2019.  I got talking with one facilitator. He said an old generation bank in Nigeria just laid off staff yet again, at end June. The bank claimed it was a move to keep it “smarter”! This same bank has been carrying out layoffs and downsizing virtually every quarterly since 2014!

In other climes, downsizing decisions are taking very seriously. There, affected staffs are treated fairly and with respect. And companies offer counseling support.

No so, with this bank. Here, they call employees to some manager’s office. And hand them letters saying, “management has approved your separation from the bank with effect from…”! And the effective is usually same day!

When we were coming up through the ranks of corporate life, companies require about 15-20 years solid experience to qualify for general management positions. Now, people with these qualifications are seen as over-qualified for those same positions. Of course, “Over-qualified” here is actually a code for “too old”, or “candidate for downsizing”! So the company can look to hire younger talents at lower pay!

Experienced professionals are especially vulnerable

Senior and experienced professionals are especially vulnerable:

  • They have financial obligations to meet, as they have kids going to school and parents needing care
  • Bankers are especially affected, because they have a lifestyle construct on taking on debts and mortgages based on their ability to make monthly payments
  • Many experienced professionals also begin to doubt their skills and abilities to do great things, and become despondent.

So if you are not working TODAY to leverage your extensive business experience, and launch your online coaching business in your field of expertise, you are making a big mistake! Because you may end up spending a lifetime working to achieve the goals of others. And guess what they have for you? Not much!

Has the did been done already? No problem… forget your mistake, but remember the lesson. Now think about how to leverage your experience, in this second chapter

How to leverage your experience the smart way

With what is going on today, if there is ever a time for you to stop and begin to think and assess how to leverage your experience in the next chapter of your life, that time is now. 

Some experienced professionals who have a sizable chunk of severance package, are seizing the opportunity to set up in business, using their severance pay to fund the new venture.

Better still, the online coaching business has a very low business setup cost. You already have the experience and the drive. All you require is to create your own online course. Create your own online school or coaching platform. And start to your expertise with learners across national boundaries. It’s very rewarding!

So if you have a level of expertise, and have a passion to help others achieve their goals – the online coaching business is a great way for you.

To learn more about how to  set up your own profitable online coaching business – join my Free Masterclass. And don’t forget to share this with anyone who can take advantage of this FREE training platform.

And see you on the other side!