How to be a successful business, is it what you think?
What makes a successful business?
While the profit we make is always going to be on the agenda, for a life coach there are a few more important factors that are key because for life coaches it’s not just about the cash.
We are inundated daily with social media ads about how to be a successful business under the guise of how to scale your coaching business, or how to become a 6 figure coach. And while we recognise the significance of the security money might be able to provide, we dig deeper than cash.
How to be a successful business in just a few steps.
In this article, we look at how to be a successful business from a wider point of view, so let’s dive in and see what we can learn along the way…
It’s how coaches answer the question of how to be a successful business…
- Who is your audience?
- What is it they need?
- Who currently services your audience?
- How do they do that?
- What is your hook?
- What is your story?
- What is your offer?
- How do people buy from you?
- How do you deliver your service?
- How do you monitor client feedback?
It’s these questions that will help you put together an excellent service, and will in turn bring about the success you need. But I want to dig a little deeper, in a way we don’t usually discuss in a business plan.
How long is the shadow of our impact?
Who are we supporting?
What are the positive knock-on effects?
Who else wins?
Are our clients turning up, tuning in and making a difference?
How do we measure a successful coaching business?
For some life coaches, it’s through recommendations.
Of course, some life coaches will receive ZERO recommendations simply due to the nature of the problem they are helping people overcome. Addiction to porn is unlikely to have lots of referrals and recommendations pouring in.
However, for many life coaches, turning clients into raving fans, or at least an ambassador, is very achievable and is certainly an indicator of success.
INVITATION TO TALK
Being an invited guest on a podcast isn’t recorded on the bottom line of your monthly profit and loss, but it is certainly an indicator of success since someone thinks your content is worthy of airing.
You have a number of clients wanting to stay and have taken an automatic monthly subscription with you, leaving you to have the ability to forecast your future income.
Your marketing is enjoyed by many.
They find it inspiring.
It can create conversation.
There is no need to be a slave to your computer.
Facebook is not your best friend…it’s a cool place to be, but you are not hooked on it 24/7.
In fact, most of the week is spent with friends, you are exploring life and maybe your friends look at you asking “how do they have so much time?”
Do you live for work, or work to live?
One thing is for sure, you can have more vacations than you need.
So there you have it, it’s how to be a successful business, well it is for the majority of life coaches, and not once have we mentioned earning $10,000 a month or something similar. Yes, of course, cash is important for any successful business, but why do we start a coaching business in the first place
For more support with setting up your coaching business, contact David today.