4 Reasons Why Business Coaching is One of the Best Investments You’ll Make
Why business coaching?
Tell the truth. Your online business hasn’t come to fruition without a fair share of blood, sweat, and tears, right? It’s not an easy undertaking… rolling out your digital shingle. There’s a huge amount of time and money invested JUST to get it to start churning, much less bringing in regular income! And if you’re like me, you’d probably rather jump off a bridge than see it fail. I know. Dramatic, but true.
But the flip side of that coin is I love being an entrepreneur. I’m learning things about myself that are still surprising me even after all this time. Plus, I get to work with a lot of great clients who have amazing services and products to offer the world. I’ve gotten to learn from some amazing coaches and mentors. And all that knowledge and experience trickles down to the services I offer, the quality of strategy I’m able to create, and the results I’m able to help clients achieve.
Are you not in that same space with your business yet? Let me guess… the new has worn off, it’s not going quite how you planned, and now you’re stuck, again. Right?
Maybe you just got your website off the ground, you have a handle on what you want to offer, you think your systems are all in place and ready to go… but not much work is coming in yet.
Perhaps you’ve been in business a while but you have an idea for a new product or service and you really want to put it out into the world the very best way possible to ensure success.
Or, maybe you’re business has declined recently, numbers are dropping, and you can’t figure out why.
Where do you turn?
Every business owner will face any one of these situations at some point.
Whether you have a brick-and-mortar, online business or service, or a combination of both… you’re going to need an experienced guide who’s willing to help you set and reach business goals, make quality connections, and grow your business.
Business Coaching: The best $22,700 I’ve ever spent…
In the past two years I’ve spent $22,700 on coaching. That doesn’t include courses, programs, tools, access to resources, etc. That amount is JUST FOR hiring a digital marketing expert in their field to get me to the next level in my business. And let me show you how every dollar positively impacted my business.
The first time I stepped out on faith was to the tune of $4,000 for three months of weekly, one hour coaching sessions with a digital marketing strategist. And here’s why I feel this was a good business investment… Before hiring this mentor, I was having to work from 6am til midnight to make anywhere from $1200 to $2k per month. As a result of this coaching relationship, I started consistently earning $4k/month and then even made it to $8k/month.
And that was as a service provider doing done for you client work like launches, courses, websites, funnels, Facebook ad campaigns, etc. I would strategize the project and then manage my team through the implementation. It was stressful work on the best of days. Plus you have problem clients you have to factor in, and that’s stating it very politely.
Then next business coaching investment I made was $2500 for a coach that would help me pivot from a done for you service provider to consultant specializing in digital marketing, affiliate marketing, and sales consulting. My return on investment helped me let go of ALL done for you client work and transition to teaching people about the topics that excite me and that I’m naturally good at, sales and marketing.
It’s like I’m not even working most days when I’m in my zone of genius. I also authored a course based on the affiliate strategy I teach and that earns me mostly passive income. Plus that course has given me an opportunity to create group coaching programs. All of these things have added thousands to my regular monthly income without having to deal with done for you projects anymore.
This past summer I signed up for an ecommerce coaching package for me and my son. It’s such an amazing opportunity that my son is on target to quit his regular job at 21, run his store, and travel like a digital nomad… just like his mom! Both of our stores are doing great. I’ve put mine on hold to really help my son learn and grow his store so he can accomplish his goal. I’m making plenty of money with what I have going on already so in the spring I’ll focus on my store again. And I fully expect to be able to make several thousand dollars per month with my store. I paid $3,500 for both of us to participate in this coaching program.
And the fall of 2017 I invested another $747 for a custom strategy, work plan, and accountability coaching group. This might be the smallest amount I’ve spent but it’s by far one of the most powerful decisions I’ve made for my business. This is a FRACTION of the strategic projects on my to do list for the next 3-6 months…
- Created course outline, funnel, and timeline for four new courses
- Ideation for new content upgrade to for consulting leads
- Created a digital product line to launch
- Tentative Outline for My First Live Event Spring 2018
- Administrative tweaks to improve efficiency, systems, and processes
- On Target for 2018 Financials to be Ready by End of 2017
Finally, in the fall of 2018 I signed up with a high level coach for nine months. This cost another $12,000. And this coach will be the one that gets me to MULTIPLE six figures. And everything I learned from her trickles down into my own coaching, courses, consulting, workshops, freebies, content across all platforms, etc.
This is a small taste of how business coaching can powerfully change your trajectory if you take a chance and invest in yourself and your business. Yes, it hurts the pocketbook. It’s nerve wracking. I get it.
I was a single mom who at 42 had never made more than $23k in a year… ever! Last year I made $40k. This year I had hit last year’s earnings by summer. If you want your dreams to become a reality, you HAVE to make a plan and take action. It needs to hurt. You need to put some skin in the game and go all in.
I call it burning my ships. Because I give myself no choice but to succeed. I’m stubborn as shit and don’t give up. If I want something, I figure out a way to get it and make it work for me. Investing in coaching motivates me and it never fails as a strategy that magnifies my success beyond the measurable.
I’m not trying to be a negative Nancy. I’m actually a glass is half full kind of person. But I’m not going to give you a false sense of reality. I’m here to teach you what’s proven to work. Like…
- Failure shows us the path to success.
- Testing is vital and ongoing.
- Data is golden.
- Service is king.
- And investing in yourself is the difference between you working for money and your money working for you.
4 Key Ways Business Coaching Can Help You
If you find yourself facing any of the following roadblocks in your business…
- Just starting out, with no prior experience running your business, and you need to know the next steps… like creating a website, systems & processes, help with creating packages and pricing for your services, etc.
- Have an established business but you’ve hit a plateau.
- Need to know how best to market a new product or service
- Want to pivot but not sure how to guide the transition
- Had success in the past but your enthusiasm and wealth of ideas have waned, leaving your business to decline. You need a fresh wind of innovation and strategy to get it up and running like a well oiled machine again.
Then you need a business coach to…
1. Improve Your Marketing
Marketing is a significant cog in the wheel of success for your business. It’s also a large part of the overall business budget, so it HAS to deliver results. The right business coach can teach you marketing techniques that work and will guide you in making a custom marketing campaign for your online business.
2. Motivate You
Just because you’re taking action towards your dreams doesn’t mean you will always have the stamina to endure the bumpy ride of an online entrepreneur. Things will go wrong. It’s a given. You need someone in your corner to help you discern the next step and motivate you to keep you going. It’s an easier journey with an experienced business coach in your back pocket.
3. Give You A New Perspective
Relying solely on your own experience will get you places, sure. But there’s a limit as to how far. A seasoned business coach brings a fresh perspective to your vision. You’ll benefit from access to someone who has been where you are, achieved what you hope to achieve, and a greater depth and scope of knowledge that’s different from your own.
4. Prepare Your Business for Tomorrow
A business coach will analyze your current business and projects to determine what will be most successful in the future, offer guidance about how to improve your business right now, and help you prepare for future opportunities.
Mistakes are a great way to learn, but they can be costly and time-consuming. This is why having a business coach that helps you avoid those costly mistakes is necessary. Their experience, connections, and resources can be pivotal to your success. The investment in yourself is always worth it.
It’s up to you to have faith and take action for yourself.
The single biggest difference between me and others like me who are actually making a decent living working online and people who aren’t is ONE THING….
I’m not even playing with how ridiculously simple that is. Even if you fail, choose to persevere, learn and move forward onto something else that will eventually lead to success. Can you understand that concept? Because that can seriously be the difference between succeeding or watching everyone else get there instead of you.
So what do you wanna do? Watch, or blaze a trail?
My favorite quote is from Eleanor Roosevelt and it says, “No one can make you feel inferior without your permission.” It’s my life motto. I want YOU to define who you are and what you’re ready for and what’s possible to achieve success, on your terms. Don’t live in someone else’s box.
Ready for a calculated risk, to invest and take action?
There are plenty of other possibilities. Lots of them create a circular pattern, always searching for what continues to be missing to get to the finish line. And there are plenty of gurus, courses, and articles to read that will gladly be rabbit holes and shiny squirrels leading you away from what will work like dynamite.
If you feel anxious AND inspired about making a leap, it’s totally normal… and expected! We’ve been conditioned for years about what’s considered responsible and expected of us. My advice…
Quit hanging on to the safe and secure because it’s comfortable.
I want you to experience what it’s like to DARE to expect the impossible. Because it absolutely can happen.
Choose to shake things up and watch your dreams materialize! Now’s the time to take action, get a strategic plan in place with multiple growth opportunities, and propel your business forward with vision and purpose.