Andy Bailey, founder and CEO of Petra Coach—a Franklin, Tennessee-based business consulting firm—sold his first company, NationLink Wireless, in 2011. He launched it while in college and has been a member of the Entrepreneurs' Organization since 1997. Here's his key advice for entrepreneurs starting new ventures:
"Take time. After selling NationLink, I committed to avoiding major decisions for a full year. I reflected deeply on what I truly wanted in life. Create a Ben Franklin-style list—'I want this, I don't want that'—for your next chapter, and let it guide your choices."
Related: 10 Ways Successful People Make Smart Decisions
We spoke with Bailey about the realities of entrepreneurship. Read the full Q&A below.
Tell me about your business and how it started.
Petra Coach is a business consulting firm that instills essential organizational habits and alignment strategies, drawn from the Habits of Rockefeller, to keep teams accountable, valued, motivated, and inspired nationwide. I founded it in 2012 after successfully exiting NationLink Wireless—an Inc. 500 company I started in college. With decades as a lifelong entrepreneur, I launched Petra Coach to share my hard-earned insights on building thriving businesses.
What challenges did you face when first growing your business?
Starting Petra Coach alone was my biggest initial hurdle—no team to lean on. As I detail in my book No Trying, Only Do, it had been 18 years since my last startup, and I'd forgotten the basics. I handled everything myself: daily billing, stuffing envelopes, and mailing them. These simple tasks consumed time and felt monumental en route to hitting $1 million in sales for Entrepreneurs' Organization membership.
What personal challenges did you face on your entrepreneurial journey?
Early on, I hit the same rookie pitfalls as every entrepreneur—though no less painful. A key lesson was carving out time for family and friends. Stepping away from the business to nurture relationships is tough, especially with success and revenue in sight. I've learned that neglecting personal connections as a resource ultimately undermines your own success.
Related: The 3 Emotional Challenges You Will Face as an Entrepreneur
What sets your brand apart?
Our edge lies in a proven methodology from Mastering the Habits of the Rockefellers—principles we rigorously apply because they deliver results. Every Petra Coach was (or is) an entrepreneur with real-world businesses and side projects. This lets us tell leaders, "We've been there. We know what it takes to succeed and level up."
What led you from entrepreneur to business coach?
I never fully transitioned—I'm both entrepreneur and coach, a true blessing. What I loved most about entrepreneurship wasn't just the wins (though exhilarating), but guiding others with the same principles that fueled my successes.
What advice do you have for entrepreneurs transitioning after a big win?
Take time. Post-NationLink sale, I avoided major decisions for a year to clarify my true desires. Use that space to plan: craft a Ben Franklin ('want this, don't want that') list for your next phase and heed it.
What lies ahead on your horizon?
The future is boundless—exciting and daunting. Beyond growing Petra Coach and our SaaS platform Align, I'm pursuing ultramarathons, writing, speaking, and deepening family and friend bonds. Life is thriving!
Related: 4 Tips for Building Your Best Future with Elite Daily's Gerard Adams
This article originally appeared in the December 2017 issue of SUCCESS magazine.
