Money Doesn't Give You Security, It Gives You Optionality

The best opportunities go to the people who can afford to chase them.

I’ve come to believe over the past few months that one of the best things for your coaching business is financial stability

Obviously that can come from sufficient recurring revenue - and we should be aiming to hit that and keep it asap.

But also money in the bank, both in the business but also personally.

Everyone looks at successful coaches and thinks ‘It’s easy for them because they do so well that they don’t have to worry about money’

In my experience personally and working with other business owners - that isn’t true. You still worry about money.

There’s a reason billionaires still do things that are revenue generating - it’s hard to feel like enough is enough.

The reality is not that these coaches don’t have to worry about money

What’s actually happening is that they can afford to make bets.

Take risks, try things, gamble, move quickly.

I’ve mentioned this before, but I always think of the penalty advantage in rugby.

When a team is playing with a penalty advantage - they know that if they screw up, the play comes back to the penalty they’re getting anyway.

So they throw passes they wouldn’t normally risk, kicks to the corner, try and capitalise by scoring a try - there’s no downside, there’s a safety net.

I think that’s what money buys a coach - not security really, but permission to do stuff.

A lot of coach confidence isn’t bravery, it’s having enough optionality that if they’re wrong, so what? They’ll survive.

So they make more offers, run more tests, move faster - which turns up the opportunities, creating a positive cycle.