From Precious
April 10, 2008
Karen Sigalis | General
Executive and Personal Coach
Precious: How and when did you come up with your business idea?
I come from a background of Change Management Consultancy. I’m absolutely passionate about helping people through transitions in their personal life and organisationally.
I took a long hard look at my life and asked myself what would have me feel worth while about my life and the work that I do. I’m passionate about helping people find their inner strength. I realised this is all we need to make the right decisions for ourselves and our life. The confidence to have a choice, to say yes and to say no about the things that really matter to us.
That’s when I discovered that coaching would help me reach people who want to feel successful and confident in their lives.
From here I did quite a bit of research about coaching courses on offer. I trained and graduated from a world renowned global coaching school; The Coaches Training Institute, accredited by the International Coach Federation. She continues to have a thriving and successful business.
I believe it is this robust training that has enable me to have a successful and thriving practice. Through my coaching skills my clients enjoy swift and significant results in their life.
Precious: What did you do before you launched your business?
I come from a rich background as a successful team manager and Change Management Consultant for seven years, working at Hay Management Consultants, Syntegra and Capita Consulting.
In addition to having a successful coaching practice, I also work with the Mind Gym, delivering bite size training on subjects such as Influencing and Persuading, Your Impact on Others, Having Presence, Creativity for Logical Thinkers and Peak Performance.
Precious: Tell us about the business planning stage - did you find it difficult to write a business plan, how do you fund the initial stages?
This is a great question. I remember when I first started the business my husband, who comes from a financial background, asked me for the business plan, break even analysis. What I noticed was that my heart was not in producing these plans.
Instead I followed my intuition and said 'I know I’ll have a successful practice'. I realised that I had found my calling in being a coach and I trusted my natural ability and expert skills.
For once in my life I went with my gut instinct and my unwavering passion and belief in the tangible results of coaching and my ability as a coach.
There was no business plan.
In terms of funding. We were lucky, we had quite a bit of money in reserve from when I went from having a salary to no salary and my husband was in full time employment.
I would definitely suggest before making the big leap, making sure there are enough funds to support your household for at least 9 months. Alternatively, have another job that is on a part time basis.
Precious: What setbacks did you encounter?
When I started coaching, I remember thinking this will never pay the bills – we have a mortgage. I began to seriously worry. So much so, I got another job as a senior consultant a few months later and coached in the evenings.
What I noticed was no matter what sort of day I had, after I had my coaching sessions, I was full of beans. Really lively. This was such a contrast to how I felt during the day.
As a result I took the decision to resign from my consultancy role after only two month and dedicate all my time and energy to my business. I also promised to box away those self doubting moments.
I have never looked back since. Yes, coaching now pays more than the bills and the mortgage, it gives my life meaning and satisfaction. I love what I do.
Precious: Describe a typical working day.
At the moment, my time is split between my coaching business and working with The Mind Gym as a coach. So a typical day might be a workshop at a corporate client like the BBC, Merrill Lynch or the Arcadia Group for the Mind Gym.
Then the rest of the day coaching. I coach for half and hour with each client with a 15min break before the next one. Work life balance is really important to be, so my last coaching session finishes at 7pm .
Precious:Are your family supportive of you?
Definitely.
This is what really can make a difference. The best way to describe my husband’s first reaction to starting a coaching business was skeptical at first and then totally supportive. He really believed in me and my ability and the magic that had clients coming to my door.
In one birthday card he wrote that I was an inspiration to him. Makes me feel warm thinking about it now.
My mum too was quite skeptical about the business as she’s a teacher and coaching was relatively new when I first started. Only about 1 in 30 people had heard about coaching then. But after she saw my passion and belief in the results I brought to clients, she was absolutely behind me all the way.
Also, two friends of mine really helped celebrate my success. Ursula and Emily . Every time I got a new client, we would go to Starbucks and celebrate with a double chocolate chip muffin. We were all on a tight budget and this seemed like the perfect way to celebrate.
As the practice became even more successful, we abandoned the idea of the muffins as we were putting on a bit too much weight!
Precious: What do you love most about what you do?
Engaging with people all different types and knowing that I call all the shots.
Precious: Is there anything that you really dislike about it?
No.
Precious: How do you see your business progressing over the next five years?
Growing ever stronger.
Precious: What do you do to relax?
Read, watch tv, have bubble baths, indulge in my favourite chocolate, go to the gym and spend quality time with family and friends.
Precious: What's your advice to potential female entrepreneurs?
You can do it. Tap into your inner strength. Find out what drives you – what’s the passion inside of you. Get a coach if that will help you. Alternatively, ask friends, family and people you trust to give you feedback on what they see you’re passionate about. What your strengths are and what magic you bring to the relationships around you.
Find your unwavering belief in your abilities and from here make a choice about what’s next.
View every failure and success as a learning experience. You can only get better and learning is the thing that will enable us to do that. Go out there and face every challenge with a sense of passion and a strong knowledge of who you are and what you love about yourself.
From here the world is your oyster.