“OMG! I have so much to do!”
It’s easy to get carried away doing all the things in your business, I know...
Two to three years ago, this is exactly where I was. I had a VA and a few contractors but I still felt like I was doing the majority of the workload myself. I was still coordinating everything and if I didn't touch something, it didn't get done. And then behind the scenes I still had a full family to take care of.
It was exhausting AF to say the least.
If you're feeling the weight of that, I want you to know that there's hope. And that is in recognizing the roles and responsibilities of an effective coach and scaling your business.
The owner of a hospital doesn't do surgery, x-rays, and phone calls. They do the job that they are uniquely qualified to do.
And so I want to teach you how to get to the point where you're able to maximize your strength as a coach and maximize every second that you're coaching and leading your business.
Let’s dive in to the characteristics of an effective coach
If you keep overthinking all the reasons why your business can't grow and scale, like “I don't know what to do next, I don't have enough funds, or I’m afraid of selling”, then you’re falling for your own drama.
You have to become aware of your thinking patterns and then move past them.
If you're not dialed in on your shit, then it doesn't matter how successful you become because you're going to come up against the wall where things get uncomfortable and you’re going to dip back into the pool of comfort where things don't change.
You need to be resilient enough to get right back up after something fails and keep moving forward towards your goals
You have to have a clear customer success journey. That is who you help, what you help them with and what solution you're going to sell.
And whether you are in the start up phases or you're scaling up and you're already in the 20 or $30,000 a month phase, getting even more clear is going to have you get even better results and even more effectiveness.
The second thing to have clarity on is your positioning. And that comes down to your messaging and who you're targeting,
So productivity is where you're looking at how work is done in the business. By whom, When and what all the backend systems look like?
And is it as effective and efficient as possible? And that starts with our-self as the CEO, and it moves outward into the team.
It begins with self management over your schedule, scheduling the things that you should be working on versus the things that need to be delegated to others.
First thing you need to understand is that there's a difference between growth and scale. Growth is about getting to the first 0-10K months in your coaching business.
It consists of building the infrastructure that will allow you to have recurring 10K months moving forward.
Clients come to us over and over again, hitting that target and then their revenue slowly falls back down because they don't have the correct business infrastructure.
They were able to sell their ass off for one day or one month, and then stall. I’ve seen people go from 40-50K months and drop to essentially zero.
That's because they don't have the foundation of a profitable business infrastructure that allows them to have consistent recurring revenue and they don't know how to create it.
In my blog post, The Importance of a Northstar Offer I go into more detail on how to set a strong foundation for a successful growth phase.
The really important thing to realize when you’re in the growth phase is that there is no set time line for how fast you should do it.
I've seen people do this in six months. I've seen people do this in several years.
It's about being devoted to doing what it takes to reach your business goals and your ability to master your mindset and your fears.
In the scale phase, you're moving from 10k months upwards.
People often think that scaling requires more effort, which, let me tell you, is absolute BS.
Scaling is when you are reinvesting back into the business to grow exponentially. So that means that you're going to reinvest money to grow faster.
An example of scaling is doubling down on FB ad spend and hiring more people onto your team so that all the work is not on you anymore.
Take note that contractors are different than team members. If you’re hiring a contractor, you are one of their clients and therefore they're not as invested into the growth of your own business.
All of the team members should be actual team members in your business and they all need to come in with the understanding and awareness and fortitude to be able to make you 4x what you're paying them each month.
Listen to my podcast on How to hire an effective virtual team for your coaching business here.
What is a business model for a coach who loves coaching and wants to be in practice?
We call it the Thrive Business Model. And it includes three tiers:
You're going to have your 1:1 highest priced package program.
Then you're going to have your leverage offering.That's going to be something like your group program that you’re going to take up to six figures in revenue.
And last, is the passive income. You can build out courses that can be working for you as passive income courses or write books or whatever that’s not going to require your time to service.
The thrive business model is scalable because the service side of it goes down but the selling of it still has to happen.
You still have to market that program, but the service side of it will be passive, meaning it won't require your 1:1 personal attention every time.
Understand the difference between growth and scale. Apply the right strategies at the right time. Have your three leveraged offers, be intentional with your business model and become effective at what you're doing.
Keep your mindset in check, be clear about your customer success journey and be productive by showing up for your-self and your business everyday.
Remember, it is possible to grow a business without having to do it all as long as you’re doing it intentionally with the right strategies.