A common piece of advice from business coaches to those who want to grow their business is to hire team members who can do the support work so you can focus your efforts on money-making tasks. In other words, don’t waste your time doing bookkeeping or answering emails because you’ll make more money selling your signature program or coaching clients.
So how’s a business supposed to run smoothly when you’re not doing those necessary support tasks? Simple…you hire people to do those tasks for you. There are expert Virtual Assistants who can create an organized inbox with filters, folders and labels in mere minutes. There are expert Bookkeepers who find joy in numbers and live for balancing your books each month. And there are still others who adore creating online content and helping customers with their questions and problems. This is the team you need to create.
There’s Not Enough Time in Your Day
If this is your excuse for not getting tasks done,...
Just because you’re in the coaching industry, don’t think you would never have a need for a coach of your own. Seems like a funny thing to think about but even the best coaches could use some help streamlining their businesses or having an objective third party to talk to about personal or family matters. Heck, even psychiatrists are required to speak to other psychiatrists on a regular basis!
Business coaches can assist anyone with their businesses and often will find things to fix or change simply because they have an objective, outside viewpoint. Everything from billing inefficiencies to brainstorming product ideas, a business coach can be a non-judgmental sounding board who offers clarity and perspective.
Your Coach as Your Accountability Partner
If you have a plan in place for creating a signature program, utilizing a coach as an accountability partner is a wise investment. We all tend to work more efficiently when we know there’s a deadline looming but...
Productivity and efficiency are the popular buzz words lately as more and more business owners try to make the most of their time during a busy day. No matter how hard you try, you simply cannot do everything yourself when it comes to running your business. Investing in your business not only decreases stress but it makes your business run more smoothly, therefore increasing profits.
If you need to improve your productivity, try these three tips:
Rather than being saddled with monotonous tasks and expensive software they may have to learn, many smart business owners are accepting their limitations and finding expert service providers to take over these tasks. What takes one expert an hour to do can easily take a non-savvy business owner 5 hours to complete. Is that really a good use of your time?
Start off by asking your business associates for referrals and conduct regular interviews, as though you were hiring an employee. Just because they are a virtual service...
Businesses of every type, including coaches, need a business plan. Don’t think you can skip by on this important step because you offer a service instead of a physical product. Every business can benefit from a business plan.
First Step, Focus.
When you create a business plan you need to focus on the reasons for the business: Who do you want to serve? What do you want to provide? When do you want to start? Where will you set up shop? Why do you want to start such an endeavor? How will you meld all these things together to create a prosperous business?
These are the primary reasons why you’re going into business and they should always be at the forefront of your mind when making decisions.
Something else to focus on is your big dream. How much money do you want to make over the next 5 years? Do you want to sell multiple products or have several locations? Everyone’s big dream will be different but you should write it down as part of the plan.
Second Step, A Plan.
Inaction is the demise of any business. Without taking regular action every single day to grow your business, inaction will cause your business to become stagnant. Clients will disappear, your sales funnel will be empty, and your revenue will dip to zero in a heartbeat.
Let’s avoid this scenario! Here are five action tasks that will lead to increased income and business growth.
Contrary to popular belief, email marketing is NOT dead. Email is the easiest way to stay in touch with customers and prospects to let them know about your new offerings or to recommend an affiliate product which pays you a commission.
You will never please everyone but you may as well try your best. Inevitably customers will contact you with questions or refund requests so be prepared to answer these requests in a timely manner. Stick to your rules about refunds but never disregard or disrespect a customer. Negative online reviews are...
The end result? Frustration. Burnout. Resentment (of your clients or your business). And yes, even more self-sabotaging behaviors. This downward spiral can quickly turn devastating, but stopping it is easy when you learn to recognize the symptoms.
Did you mean to apply for that high-end coaching program but missed the deadline?
Or maybe you were going to send a proposal to a potential new client, but waited too long?
Or maybe you simply waited too long to take advantage of a sale price on a hot new app that everyone’s raving about.
These and other missed opportunities can often be blamed on simple procrastination, one of the most destructive habits we suffer from. Procrastination is what keeps us working late at night...
Poor money management has been the cause of more business failures than any other single issue. And it’s no wonder. We aren’t born knowing how to manage money. Most of us aren’t taught how to handle it either. We figure it out along the way, through much trial and error.
Those same mindset issues and bad habits that wreak havoc in our personal finances can plague our businesses as well if we’re not careful.
Catching Shiny Object Syndrome
Some things are just hard to resist—especially when your friends and colleagues are all jumping on board! New tools, training, group coaching programs and even business models can all have a strong pull, and if you aren’t careful, these shiny objects can quickly distract you from your current goals.
If you find yourself catching shiny object syndrome frequently, try this two-step plan instead: