9. Manage your time:
One member told me that the breaking point for many coaching practices is when they hit the miracle 100K mark and that more businesses close whose revenue is between 100K and 2 million—the reason why? Poor time management and being overly focused on projects that don’t affect the bottom line. If you’re a solo-preneur you need to have smart time management skills and feel comfortable asking for help or your coaching business could be in jeopardy.
Finally, know what works. Don’t rely on opinions or comments from those who admire you. Seek out your competition, know how they make money and make it work and when you receive negative feedback seek to understand it. If you want to improve your coaching business you have to know what’s working, what’s broken and what’s neglected. Fix what can be fixed, get help for the rest and never be evaluate your business. By measuring your results you can tell quickly where your time, energy and money should be spent.
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When you really think about how to improve your coaching business, the answer isn’t magical, it’s practical. Just like every other great business you have to take smart steps to grow or else your business will stagnate.
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If you need help growing your business and want to learn how we can take this 10 step plan and help it to explode, we’d love to talk with you. You can learn more about our Expert platform and our online magazine here.