On today’s podcast, I’m chatting with Shi Chen. Shi has a background as an educator and now runs her own coaching business. This is another conversation that is part of our Bold Profit Academy case studies series. Shi works with women who are good at what they do, but struggle with the business side of things. Her role is to help build a business foundation even if they don’t feel like they are good at business responsibilities.
Shi loves working with other moms and women of color. The question she asks her clients is can you build a business around your own strengths using what you already have? I’m excited to see where she goes from here, but let’s dive in and cover some of her experiences with the Bold Profit Academy.
A Quarter-Life Crisis Led to Coaching
Shi wanted to be an elementary school teacher, so she created a path to lead her to that career. With an education, she moved to Beijing and taught for a few years there. She was an active part of the ex-pat community and met her husband while in China. When it was time to move back to the US, she went through a bit of a quarter-life crisis. She thought teaching would be her dream job, but something still felt off.
After some work and conversation with a mentor/life coach, Shi was able to figure out what she wanted to do and how she could contribute to the world. The work her own coach was doing inspired her to get her own coaching certification and open a life-coaching business. She could still utilize her educational background and help others who found themselves in a similar spot to her.
Shi began her business right as she moved back to the US and was starting a family. The next big hurdle was reconciling these two parts of her life—being a wife and mother while doing work she loves. She decided to take a break and focus on her daughters.
Stretching the Time Horizon
Shi talks about her timeline, which I think is so important. She was coaching as the long game for herself, allowing her to take a break to focus on her daughters and return to it when she was ready. She gave herself permission to figure out what could work for her family but always planned to return to the business.
The friction between motherhood and work is real. Corporate work is often positioned as either-or, which is why many women leave. But moms out there need to know that it can be a both-and situation. There isn’t enough flexibility or leeway in the corporate world. I left corporate work and started my own business to understand that I could have both.
Shi calls it “stretching the time horizon.” The key to success is giving yourself a longer runway and allowing yourself that space. My mom always said that time passes anyway, so she helped me realize that I needed to set myself up for that fact. With grad school, I was trying to figure out if I could make the time because I wanted to get married and start my life. Time passes anyway, so why not take a few classes and see what happens? There will always be things on my plate. That lesson has stuck with me and Shi had the same experience.
Early on, Shi wanted success, and she wanted it right away, but that just added so much unnecessary stress. Instead, she learned to set herself up for what comes next and use the time constraints as tools. Know that you don’t have much time, figure out how to make it work for you instead of against you. Consider your own timeline and see if you can stretch it a bit to ease the pressure and give yourself space.
Using the Bold Profit Academy to Find the Purpose of Money
When I initially spoke to Shi about the Bold Profit Academy, I wondered if she had the urgency needed to join. I worried that I didn’t do a good enough job of understanding why joining was important to her. Shi was on the verge of burnout when we first spoke. She had a good business foundation but was trying to determine her motivation to grow. She wasn’t motivated by money, she was motivated by meaningful work. When you run a business, you have to have a bit of both. She also wanted to increase her financial literacy to help others with money.
The Bold Profit Academy is a great place to get curious about money and ask questions. Shi needed to shift her mindset to have some financial motivations, or she’d find herself stuck and unable to grow. She knew that money was the problem and was open to learning more about other perspectives and flipping how she looked at it.
With money, you get to a point where not prioritizing money in your business will make you want to quit. You’ll become resentful that clients are underpaying you for your work. If you can flip it, try to enjoy sales, and use the money habits to help you in the long run, your business will be more successful. You need to understand what purpose money serves, even if you aren’t motivated by money.
Three Takeaways from the Bold Profit Academy Work
I asked Shi what parts of the Bold Profit Academy stuck out to her. She had three favorite takeaways from the program overall.
The first exercise Shi really enjoyed was the Thrive List. It’s something she would normally do, but it felt good to prioritize it. You ask yourself “Who do I actually desire out of my life, out of my business? What brings me joy? What brings me delight?” Shi learned that a lot of the things she loves don’t cost money, but if some of them do, that’s OK.
The second piece that Shi really appreciated was the content about implementing Profit First into your business. We spend time in the Bold Profit Academy hearing different perspectives about money and helping our brains create new pathways around finances. Not only do you learn about Profit First, but you also get to hear so many unique experiences incorporating the principles into businesses.
The third piece was a conversation that stuck out for Shi was about prioritizing team support in businesses. Long-term relationships are high value and if the team is supported, they will help the business grow. Understanding what values people are honoring and how they are coming to those decisions is extremely helpful. The conversations are around strategy, principles, and the process instead of just tactic and technique. It’s helpful to understand why instead of how, because the same tactics don’t work for each person.
Favorite Part of the Bold Profit Academy and Advice for Anyone Considering Joining
The Bold Profit Academy really helped Shi enjoy her business again. We were able to clear out some of the mental junk and roadblocks around money to help dial in those spaces so they work better for her.
I asked Shi what her favorite part of the Bold Profit Academy was, and she didn’t hesitate. It’s the many different levels of support. It doesn’t matter where you are. The program will meet you there. The curriculum goes deep in teaching you savvy business principles, but having a space to communicate with the community is a huge benefit. There’s so much respect in this group. Everyone has an insight to contribute, and everyone wants to see everyone win.
Shi’s advice for anyone considering the program is to start by determining what problem you need to solve. In her case, it was how to make money purposeful. Once you understand that, find a coach or mentor who aligns with your values and get to work with them. That discovery conversation is important because you want to choose someone who has the space for you. I’m so glad Shi found the Bold Profit Academy and joined us.
Check out more information about the Bold Profit Academy. If you’d like to connect with Shi, she’s most active on Instagram, @shichencoaching.