Lessons Learned: Navigating a Business Transition

In this blog I share about personal experience and insights on how I navigated the transition in my business from Berlin to Munich. Whether you're considering a similar move or simply looking for inspiration to adapt to change in your own entrepreneurial journey, I hope this story gives you valuable inputs and a source of motivation.

Working on an article while assisting movers in our old flat

Lessons learned from the transition

1. I signed new clients right before the move. I launched my Reinvent group program and engaged several 1-1 clients. I secured a good amount of income and the next weeks were about delivering and less of selling.
   

2. I reactivated my Hungarian network. It did not pay as well as the international market , there is no Euro in Hungary yet and the price level is different. Yet, I had a solid base and reputation (I lived and worked there for ten years before moving abroad) and my skills and international background represented a greater value on that market. I had the absolute honor to coach clients who had prestigious careers and I had a high appreciation toward them. Working with them felt rewarding and also gave me a very positive confirmation as a coach - something I really needed while I was just getting started and basically unknown in a new market.
   

3. I actively built my network in Munich. I went to several conferences, events, I volunteered and tried myself out in different arenas. I connected new people and allowed myself to learn about the local ecosystem. It was a lot about investment.
   

4. I engaged with third party platforms that managed the sales for coaching. I joined digital coaching platforms, like EZRA, and got onboarded in their coaching program. I registered a profile on Noomii, and started to use their referral system. It was a time investment in the beginning, and I am starting to see results already.
   

5. I let go of elements in my business. These seemed like not working for me in Munich anymore: I concluded my offering with AVGS vouchers and left a few expat sites that were solely representing Berlin-based coaches.
   

6. I built on and leveraged what was already working. I continued coaching founders at Silicon Allee, and retained two clients by renewing our engagements as I support them in the next phase of their #leadership journey.
   

7. I had an effortful attempt to return to the job market and secure an additional income source. The results were devastating with all the energy, visibility and support both I put into it and received. The moment I stopped pursuing this direction (that I did not really enjoy), I started to see what I refused to notice before:
   

8. Potential collaborations. I am exploring multiple exciting projects and with amazing people. With this, collaboration as a keyword for 2024 has also arrived. Usually it’s this time of the year when the word of the year reveals itself for me.
   

9. I shifted my mindset to look at coaching as an industry, not just a profession. Through the platforms I got access to a broader network and support system. A powerful conversation helped me to understand that what I am truly passionate about is coaching. Not just as a profession and the fact that I love coaching, but also as an industry. What makes my eyes shine is learning about coaching tools, the business of coaching, and coach development. It made me curious how I could get involved more in this field.

What would I do differently the next time?

1. Double down on what was working: coaching in my Hungarian network, reaching out to past clients and relaunching the group program right away.
   

2. Prepare my business better financially. A transition requires energy and investment. Not just business-wise, also on the personal front. With a more stable money-cushion it causes less worry if there are some weeks or months that bring less income.
   

3. Stop forcing myself to get a job and return to a position in my previous industry. I was so desperate and deep down I felt that it's not the path I wanted to pursue. I learned that I can build on my strengths and history without going back to the same shoes that I left for a reason.

These are learnings that were not so clear for me while I was going through the process. A grounding call with a friend, peer and a truly wonderful career coach Heidi Korpela helped me to articulate and summarize it today. I’m sharing it as it might be useful for you, too.

Remember: It all makes sense, even if you don’t see it at the time, you’re in it!