Episode 107: Entrepreneurs Who Grew 6+ Figure Businesses With Peter Scott
Peter Scott is the founder of Fearless Coach Academy and the best selling author of Fearless Mindset. He helps elite coaches who aren’t really growing fast enough scale their coaching business through a proven process taught inside his Fearless Coach Academy.
Seven years ago, Peter used to be in investment banking. Working up to 100 hours a week, he was making good money, but he was miserable. It was scary. It was a crisis of faith. Banking was what he studied and family approved of. He was on path that really wasn’t his own. And so he became a student of personal growth. He started reading books, hiring mentors and going to seminars, and found this whole new world he wanted to make a living doing. He started as a coach for another coaching company and got really passionate about it and decided several years later, to launch his own business. It was terrifying at that stage, but presented new opportunities to breakthrough levels of fear and doubt and limiting beliefs.
Peter’s biggest challenge has been recovering from his people pleaser tendencies. Until his mid 20s, he was seeking the love and approval from family. Another big challenge has been breaking away from the corporate track that he was on to do something entrepreneurial with zero certainty and then feeling the resistance and the feedback from his loved ones. When he announced to family for the first time that he had launched a coaching business and was publishing a book that he was proud about and excited, he expected the love and support of his family. Instead, his grandmother said “Peter, if you do this, you’re gonna ruin the family name.” Ouch. It was heartbreaking because he led his whole life seeking their approval. He learned to let go of his need to make his family comfortable and realized that the life that he was pursuing and creating was his own.
Now his family is incredibly supportive and love what he’s doing. It was a moment where he decided “do I play small and let fear stop me and go back into the financial world and do something that doesn’t bring joy and meaning to my life or do I pursue this vision of mine and stay connected to my purpose?” Imposter syndrome was another challenge to overcome. Peter recognized that he was waiting and thinking that if he read enough books or attended enough seminars, his imposter syndrome would just magically go away. He found that, for him, it doesn’t go away. When we operate outside of our comfort zone and pursue a vision that’s bigger than us, there’s a gap between where we are and where we want to be. We may not feel like we’re enough at that stage, or we may not feel like we have what it takes or the expertise or whatever that is. Peter reframed himself and he loves helping students and clients with imposter syndrome as something to celebrate, because if you feel that way, it means that you are pushing your boundaries, you are expanding the comfort zone and you are growing.
Peter is passionate about freedom as one of his highest values. He got into entrepreneurship because he wanted to experience more freedom, but found that he was experiencing less and less of it early on. And it was a shift for him to recognize that he wasn’t really building a business in his first few years. He was creating another job for himself and delivering coaching that was trading time for money all day. Peter pivoted to become a business owner instead of an operator and actually help clients and students do the same thing. He like systems and automation and things that allow your business to run without him. Teaching students and clients to create more freedom so they can spend more quality time with their family or doing what they love outside of business brings the most fulfillment to Peter. He loves to see them win by breaking the time for money trap to leverage their business. Coaching clients was awesome, but limited to the number of people that he personally could help. When he increased working more with coaches to help them succeed, it created a bigger ripple effect and helped more people. He helps coaches scale with marketing, sales, systems and deep mindset work to overcome fear, self-doubt, and limiting beliefs. He leads retreats that involve great white shark diving, hang gliding or surfing to help clients face and overcome their fears. Listen for Calvin’s story!
Peter’s vision is to build the world’s most advanced and best training development company for coaches. In the industry, there’s a lot of over promising and under delivering, and over-simplification of the journey of building a successful business. Peter has been busy laying out a structured plan to provide students step by step processes to go from where they are to that next level, in the right order. His five year vision is to simplify the business development process, give coaches the support they need, and ultimately to help more people through the coaching ripple effect. Peter is a self-proclaimed “geek”. He loves to track and measure his habits and improve. “What’s tracked, improves. What’s tracked, measured, and reported back, improves exponentially.” Track your leads, applications and sales calls! “True freedom comes from discipline.”
Peter’s best advice came from a friend, Sean Stephenson, a motivational speaker who has since passed away. Sean was three feet tall in a wheelchair and was born with osteogenesis imperfecta. He was fragile in that if he would sneeze, he could fracture a rib and had over 200 fractures by the time he was 18. Read more about Sean’s story here. Without his advice, Peter wouldn’t be doing what he’s doing today. On a road trip together, Sean asked Peter about his passion and Peter responded that he wanted to be a coach. When Sean dug into questions about it, Peter’s imposter syndrome set in. Peter felt he had a vanilla existence and nothing was special about him. Sean dug deeper (as a great coach does) and he pulled out a personal story of Peter’s that he had blocked out of his subconscious mind. Listen for Peter’s story of his experience with his mom’s alcoholism. Sean was in awe of this experience and asked Peter, “who do you think you are to not think that you’re able to be a coach? Your message, that thing that you have inside of you, is hidden within your mess.” Your mess is your message! It was the most valuable advice Peter had ever received and set him on the coaching trajectory.
Entrepreneurship is one of the highest levels of personal growth. There’s no faster way to grow than to decide to say I’m going to take an idea that doesn’t exist in reality and bring it to reality.
Tools, Podcasts & Books:
- Freedom App – allows you to block certain things for periods of time to focus on deep work.
- Trello for project management
- Time Timer
- The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel
- Happy Money
Enjoy every moment of this journey, not just building a business, but everything in life. Peter would remind his younger self that every day is a gift. And tomorrow isn’t guaranteed, so have compassion for yourself on that journey.
Find out more about Peter Scott by visiting https://www.designafearlesslife.com/
I’m Patti Keating
Marketing Strategist for purpose driven entrepreneurs.
I specialize in creating high-converting hot offers and curating an audience of buyers for coaches who want to expand their reach and land more dream clients.
I teach my clients to simplify and maximize their profits with simple social media content, and sales strategies that work.
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