The #1 Money-Making Mistake I See Coaches, Consultants, and Service Business Owners Make

What do you think the most important activity is to grow your coaching or service business?

• Making discovery calls with potential clients?
• Developing a lead magnet and setting up your marketing funnel?
• Hosting Facebook lives to engage with your audience?
• Webinars, workshops, and group coaching programs?

I bet sleep doesn’t even come to mind. It sounds so counterintuitive and is probably not something most people would add to a list of “money-making activities“.

Today, I’m going to show you why sleep is the most important activity you could be doing to grow your business.

How Can Sleep Make You Money?

The more sleep you get, the clearer your mind will be and the better you’ll be able to focus. Sleep makes you more productive and helps you make better decisions and fewer mistakes. You will be more intuitive when working with your clients, and you’ll have more ideas (and better ideas). You’ll be more resilient, resourceful, and innovative after a good night’s sleep.

Unfortunately, business owners wear a lack of sleep as a badge of honor. It’s crazy and needs change.

Not Getting Enough Sleep is an Expensive Mistake for Business Owners

As a coach, consultant, or service business owner, every day you wake up and go to work, you’re taking your brain to the bank. The work you do isn’t back-breaking; it’s mind-bending. Your ability to perform does not depend on your strength; it depends on your ability to think, problem-solve, and make decisions.

• How many years have you spent learning and developing your skills to help your clients?
• How many thousands of dollars have you spent on training programs, workshops, and books to get better at what you do?
• How many hours have you spent reading articles, watching videos, and attending the training programs above to further develop your skills?

Without your knowledge, memory, and your ability to develop creative solutions, you have no business.

Why are Business Owners Not Sleeping Enough?

When you’re in business for yourself and you and your family depend on the income you generate, it’s easy to get your priorities mixed up.

We have so much on our to-do lists

For me, the slippery slope into sleep deprivation started because I wanted to be present with my kids in the evenings, so I would wake up early to get some work done, work during the day when they were done with school, and then work again after they were in bed.

I had no idea how sleep-deprived I was actually becoming until I got sick. I was sick for over a year with very severe asthma. I couldn’t have a conversation with my clients without coughing. It held me back in my business because I avoided doing videos, hosting workshops, etc.

We don’t know how to set boundaries

Boundaries are not something that comes naturally to many of us in a service-based business. We love helping others and often do so at the sacrifice of our own well-being.

There’s always another project, client, deadline, or task needing your attention, and unless you learn to set boundaries, you’ll be its slave.

If a client had a launch date or an event scheduled, I’d break my neck to hit their goal, even if the project was delayed because they were late in getting me the content. I was so scared of letting them down and having them be disappointed in me. I was also addicted to the high I got by being the “hero” that saved the day.

I didn’t realize how much of a self-worth issue this was until, once again, I got sick and was forced to set boundaries.

Ironically, setting boundaries wasn’t as hard as I thought because it started with honoring the boundaries with myself, like going to bed early, scheduling time off during the day for lunch, limiting my work hours each week, etc.

As soon as I started honoring the boundaries I set for myself, my clients started honoring the boundaries I set for them as well.

We drink too much coffee, don’t exercise, and don’t eat healthily

I struggled with my weight most of my adult life, but around the time I started my business, I had lost 80 pounds, rode my bike in a 150-mile bike ride, swam almost daily, etc. I was the healthiest I’ve been.

One year later, I’d gained back most of the weight, I was no longer working out, and I was eating junk food like it was going out of style. I was frequently pulling all-nighters.

If you could hear my thoughts, they were saying things like: “I’m more creative at night.” “I love it when the house is quiet and I can work.” “I’ll catch up on sleep after this one project is complete.” (Total B.S. Excuses)

The less sleep I had, the:

• more coffee I drank
• less I felt like exercising
• worse I ate
• less I practiced self-care
• the more down I felt

It was a vicious cycle.

I knew better, but it took getting sick to wake me up and make me realize I had to make some drastic changes.

The Cost of Not Sleeping

Did you know that sleep deprivation has a similar effect on the brain as alcohol?

“Sleep deprivation depressed performance to a level equivalent to that produced by alcohol intoxication of at least a BAC of 0.05%. At the end of periods of waking of 17–19 hours, performance levels were low enough to be accepted in many countries as incompatible with safe driving. “

Study reported by the National Institute of Health

Not sleeping enough is an expensive bad habit.

Lack of sleep leads to weight gain, lower immunity, and higher levels of stress which equals higher medical bills and lost productivity at work.

Not getting enough sleep also leads to making more mistakes.

“On an annual basis, the US loses an equivalent of about 1.23 million working days due to insufficient sleep.”

Study by Rand.org

If you haven’t read Arriana Huffington’s book, Thrive, I recommend you add it to your reading list.

My mother-in-law gave it to me as a birthday gift when I turned 40. She thought I’d be interested in the book because Arianna had built a successful internet business. ❤️

I was still working full-time in my corporate job and thought the book was good advice. I met her at a blog conference as well, and her speech resonated with me. But I was actively taking care of myself and not in a state of really needing to hear the message.

When the Student is Ready, the Teacher Appears

A few years into my self-employment journey, I came across the book again and re-read it. It was life-changing for me this time around, and I don’t say that flippantly.

I’ve shifted my priorities and done what I can to make sleep one of the most essential money-making activities I do.

I’ve invested in a new bed. (We got a sleep number so my hubby and I can both be happy.)

I bought the Oura ring to track and improve my sleep, and I’m on a mission to earn as many “crowns” as possible for a sleep score of 85 or higher.

I also got some sleep phones to drown out the sounds of the house at night with meditation music (I listen to some of the sleep music available on the InsightTimer app.)

I’m going to bed earlier, waking up earlier (without an alarm clock), losing weight, and taking naps when I feel like my body needs it.

Embracing New, Healthier Sleep Habits

I can’t say I was a quick study in the sleep department. I fought it like a toddler at nap time because it felt like I was wasting time.

But now that I’m on the other side of feeling more rested, I have found it to be more beneficial than I ever could have imagined.

I’m still working on my healthier sleep habits. Thanks to the hormone changes of peri-menopause, my practice is not perfect, but some of the things that are working for me are …

• Stopping coffee after lunch
• Stop drinking water after dinner, so I don’t have to get up at night.
• Doing a brain dump at the end of the day in my planner to capture all the thoughts swimming in my head
• Taking a shower before bed and crawling into my comfy jammies
• Using a roller that contains a sleep blend of essential oils
• I use the night mode on my iPad while spending a few minutes reading (something not work-related)
• Falling asleep to sleep music

I hope this helps you stop hustling and start getting the rest you need to thrive. If you need help setting up a marketing system that runs on autopilot, check out our Get Leads & Clients Masterclass. It will show you how to get leads and clients while increasing your income, independence, and impact.