Why Wealth-Building Is a Necessity If Your Goal Is ‘Impact’
Most of the coaches I know started their career because they wanted to create an impact in people's lives. But unknowingly, their strong commitment to this ideal is sabotaging how much impact they can create.
These coaches experience months where business is booming, clients are flowing in, and feeling on top of the world. Then suddenly, it's like someone turned off the tap.
The clients dwindle, the income dries up, and they're left wondering how to keep things afloat.
No matter where you are in business, whether you are new at this or been at this for decades, what I’ve just described is relatable to all entrepreneurs. To this day, many continue to fail at creating meaningful impact; not because they are lacking effort, but because they are serving from an empty cup.
In today's article, I’m going to explain to you why this is more than just a mechanical issue with your business. It’s got a lot to do with the way you’ve programmed yourself think.
You Care Too Much.
Coaches are a caring bunch, often finding themselves pulled into things that takes their energy AWAY from income generating activities.
Trigger warning: I am about to give you some examples. And if you are someone who’s doing these things, you might get triggered. But if you read to the end, I will help you reconcile your needs with your higher purpose.
So hear me out if you please.
Here are some surprising ways I’ve seen coaches self-sabotage their ability to produce impact.
#1: Too Many Noble Causes
A coach might see a local cause struggling to raise funds and jump in to help with the campaign, organizing events and rallying support.
While this shows their compassion, it also means time away from developing their own business strategies or marketing plans.
They're so busy attending community meetings and planning fundraisers, that their own business growth takes a back seat.
But unless you’re a big influencer or wealthy, the cause you champion for will require funds you don’t have and time you could have used to build your OWN influence and wealth.
If you can do that, you don’t need to pander to anyone or beg for money.
#2: Over Commitment to Clients
A coach might be so dedicated to their clients' success that sometimes they care more than the clients themselves.
Picture a coach staying up late to tailor resources for a client who's not putting in half the effort, or offering extra sessions at no charge because they want to see that client succeed.
This generosity is admirable, but it leads to burnout and a calendar so packed with client work that there's no time left for their own business development.
This is like how a teenager would respond to a mother who nags too much / spoil them.
People need to make their own mistakes and display commitment before they’re ready to transform.
#3: Helping Those Who Can't Reciprocate
Coaches assist those who can't or won't return the favor.
Think a coach offering pro bono work for a startup, giving them valuable advice and time without any compensation.
This time could be used to work on paid engagements or to attract clients who have the means to invest in their services, which in turn helps the coach's business thrive.
You care, but they don’t. And they’re finding all kinds of ways to tell you why they can’t do something not because they truly ‘had it rough’; but simply because they’re not committed enough.
Even if their excuses ARE legitimate, it’s still a waste of time. In my experience doing this for so many people, very few actually manage to change their results. Because again, the problem is not the lack of resources, but a lack of commitment.
#4: Fighting Social Injustice
When coaches witness social injustice, they can't just stand by.
They might join protests, write articles, or lead workshops on social equity. These are important contributions to society, but they also take time and energy.
If a coach spends their weekends organizing community events to address these issues, they're not resting or planning for the week ahead, which affects their business operations.
If someone can’t even fix their own problems, their attempts to try and fix the world will be very ineffective.
If you’re a coach however, the very area that you’re working on is already helping to make someone’s life (and yours) better. So why not just focus on that.
We all play at different levels and you need to start with problems you can solve, and progressively build up to the big problems. Don’t try to run before you can walk.
#5: Correcting Misinformation
Coaches with expertise in a particular area can feel compelled to correct misinformation whenever they see it.
If a coach who specializes in nutrition sees a fad diet gaining popularity, they might spend hours creating content to debunk it, engaging in heated debates, or educating the public on healthier alternatives.
While this is a valuable service, it's also time-consuming and distracts from focusing on their core business offerings and attracting new clients.
Educating someone is not the same as changing someone’s mind. Education happens when the other party is COMMITTED to learning. When you’re trying to teach someone who is being forcibly ignorant, you will never get through to them.
In the rare occasion that you manage to do so, most of the time you end up offending them and destroying the relationship because you’ve just torn their worldview to shreds. This builds resentment, and though you get the satisfaction of being right, there’s no long term benefit to this.
Unless You’re Financially Well, All Of The Above Is A Waste Of Time
The reason why these things are self-sabotaging can be understood the moment you understand the reality of money and power.
To many millionaires, even 1% of their monthly income can surpass 100% of the earnings of someone earning minimum wage. And wealthy people would reinvest their surplus, making money work for them, making them even more money.
To someone who is struggling, they would often donate as much as they can for causes they believe in, while spending much of their free time doing these things.
Besides, people generally won’t believe you about anything unless they look up to and trust you in the first place. It would be a lot easier for them to accept the radical advice you’re giving them WHEN you are more successful than them.
I once have a friend who wishes to be a coach for teenagers, helping teenagers build their confidence. For year, she tried. She really tried hard to turn this passion into a career.
But here’s the thing: she wasn’t exactly the embodiment of ideal that teenagers look up to, physically, monetarily, relationally, nor academically. They would sooner listen to Mr. Beast on life lessons rather than to listen to her!
All this is to say, that how much impact you make does not depend on your level of willingness or how much effort you put in.
It’s a simple matter of: “Are you in the position to be able to do so…effectively?”
There’s a smarter way to create impact.
I’m writing this out of a certain level of frustration witnessing so many coaches get derailed from their goals because they couldn’t stay consistent with their actions.
They couldn’t stay consistent with their actions because they kept getting sucked in.
Every other day or every other month, they would hear something that they just HAD to respond to. And that response turned into yet another item on their plate which, honestly, shouldn’t have been there in the first place.
This observation has triggered me so much that, away from how I normally write articles with the help of AI, I’ve chosen to write this piece manually.
The path of the activist is the path of someone who believes themselves powerless unless they combine with others who are also powerless.
YOU ARE NOT POWERLESS.
Your potential is not yet tapped to the fullest. And if you believe in that, YOU could change the level of impact you can produce even as an individual.
By being wealthy and influential.
When you are wealthy & influential, people listen to you. For the activists, you have something they want. For the hustlers only care success, you STILL have something they want!
Therefore, by being wealthy & influential, you are being impactful. Far more impactful than those trying to ‘create’ impact.
And if you do that instead, you will find yourself doing more than those who are still stuck doing impact the old fashioned way.
Don’t try to create impact by trading time for impact.
BE impactful.
Be so impactful, you create impact by your presence alone.
Your Mission Today
Forget about all the fluffy impractical actions that will take decades just to gain public attraction and internal traction.
Focus on these 3 basic steps to change your life and the lives of those you love, revolutionize your coaching practice, and 10x your impact in the next 3-5 years.
Get real with yourself. You can't be everything to everyone, and trying to solve the world's problems when your own house isn't in order is not only a recipe for burnout; it’s egotistical.
It's time to take stock of where you're at and what you can realistically handle. If you're passionate about environmental causes but your coaching business is barely breaking even, it's not the time to lead a community clean-up. Focus on building your business first.
Consider a coach who's an expert in leadership. They might be tempted to volunteer their time to mentor young entrepreneurs. While noble, if their own business is struggling, they need to redirect that time into building a more robust client base.
Or take a health coach who spends hours creating free content to combat misinformation online. If they instead focused on creating a paid program or workshop, they could reach more people and have a greater impact.
Reflect on these questions:
“What is the one problem I can solve right now that will make the biggest difference in my life?“
“Am I spreading myself too thin across multiple causes or commitments?“
“How can I streamline my focus to achieve my business and personal growth goals?“
Do not worry that narrowing your focus might mean abandoning your values or passions. It's the exact opposite. By concentrating on one area, you become more effective and can later leverage your success to support the causes you care about.
Dedicate 80% of your time to income-generating activities. This is about discipline and commitment to your business's growth. It means saying no to distractions and yes to actions that directly contribute to your bottom line.
Let's say you're a business coach.
Instead of spending hours on administrative tasks, hire a VA, delegate them and focus on promoting high-value workshops or seeking speaking engagements that pay.
Or, if you're a relationship coach, rather than offering free advice on social media, create a premium group coaching program that not only helps people but also generates consistent revenue.
Market the shit out of it.
And for a fitness coach, rather than freely giving away your best workout routines, package them into a subscription-based app or service.
Reflect on these questions:
“What are the income-generating activities that I've been avoiding or not giving enough attention to?“
“How can I restructure my day to ensure that 80% of my time is focused on these activities?“
“What systems or support do I need to put in place to maintain this focus?“
You might fear that focusing on income means losing touch with your mission. However, remember that financial stability allows you to serve your clients better and invest in creating even more significant impact.
If you want to donate anything, donate to YOURSELF. Investing in yourself is the best donation you can make. It's about recognizing that your growth directly correlates with your ability to help others. For instance, if you're a financial coach, investing in advanced certifications or courses can deepen your expertise and attract higher-paying clients.
Or, as a coach, attending a high-level mastermind can expose you to new ideas and strategies that you can pass on to your clients. And if you're a spiritual coach, going on a retreat can enhance your own spiritual practice, which in turn enriches the guidance you provide.
Reflect on these questions:
“In what areas do I need to grow or improve to better serve my clients and grow my business?“
“What investments in myself have I been putting off that could lead to greater income down the line?“
“How can I shift my mindset to see self-investment as a priority rather than a luxury?“
The cost or time commitment of investing in yourself is not a luxury, but a necessity. Every dollar and hour spent on your growth is an investment with a high return potential, not just for you but for all those you aim to impact.
Stop thinking like an employee; stay in the thought patterns of a successful business owner.
These are investment, not expenditure.
By following these steps, you'll find that not only are you able to create more impact, but you're also building a life and business that's fulfilling and sustainable.
The goal isn't just to do good in the world; it's to do well for yourself in the process, so you can continue to do good for others.
The Most Important Work You Can Do For The World Is The Work You Do In Yourself
Building your business is not just about making money. Or even creating an impact.
What is more important than the money you make or the impact you create, is WHO you become as you progress along this path.
This journey changes you.
And as you evolve, you become an extraordinary, high impact individual that leaves behind proof of your work. All without you having to burn yourself out in the process.
In 2013, Bryan Johnson sold Braintree, a financial tech company, for USD800 million dollars. Currently, he is embarking on a mission to ‘chart a way forward for humanity with Blueprint’— an age-reversal health protocol made freely available to everyone with an internet connection.
But he didn’t start by immediately wanting to create impact.
He started his journey when he returned to the United States after living in Ecuador for two years, with people shackled by extreme poverty. Looking at their living conditions made him determined that he’s never going to be poor.
And in that moment, what is the minimum for him, changed.
During an interview, he said:
“As I assessed my options, it seemed crazy that I would trade my time, for example, 60 minutes for $8.75 and do that for a lifetime. I decided I wanted to become an entrepreneur, build a successful company, retire by age 30 and then with that freedom of time and abundance of resources, go out and try to be useful for the world.” - Bryan Johnson
His wealth-building phase was driven by a desire to never be poor again, but it ultimately provided him with the resources to pursue a larger vision.
There are so many people who have told me things along the lines of: “I have let go of that egotistical pursuit for success and money, and I’m now following my passion of creating impact.”
All of that is great, but I also once read the writings of one Swami Vivekananda, who said that “You cannot let go of that which was never yours in the first place.”
This means that unless you have tasted wealth, you cannot rightfully and congruently say you have let go.
No, you have simply given up. It is a form of defeat, not surrender.
The idea that we have already ‘let go’ of materialistic wealth, before wealth occurred, is a fallacy, especially among spiritual people. You can only let go of wealth once you have experienced wealth. To say otherwise is a pretense to justify defeat, masked as acceptance, .
Even Gautama the Buddha has spent the first half of his life as a prince, where all the wealth he could ever want was his, before he released all of that in pursuit of something else.
So, unless you have already tasted wealth, pursue wealth. Pursue it vigorously, shamelessly, unapologetically. Guilt-free, and without remorse.
When you're financially wealthy, your very presence makes a difference. How can it be right to say that being selfish is not a noble endeavor by itself? Spending money in your community, hiring help, or simply being a patron of local businesses are all forms of impact.
The most important work you can do for the world starts with the work you do on yourself. By committing to building your wealth and focusing on income-generating activities, you're not only securing your financial future but also empowering yourself to help others more effectively.
Life is grand. Martyrdom is not the way to celebrate life. And self-sacrifice should not be simply performed.
So if you have always been stopped by the B.S. (belief system) of ‘creating impact’ to the point where you’ve been placing yourself last, here’s to hoping that you change your ways.
With a consistent commitment to wealth-building, may your business thrive, your transformation profound, and your life filled with wonderful experiences.
To your success,
Felix
