Ready to scale your business? (Or just curious as to how?).
I know it’s the middle of the summer and it’s that weird period where a lot vacation is happening…and a lot of motivation is maybe not happening?
I’m definitely in what I like to call “a vacation push phase.”
I say that because I am very aware of it being July and ice cream and pie time, but on the other hand, I’m gearing up for some big things in my business so a LOT is happening!
One thing that’s driving this push is that I’ve finalized the business plan for the rest of my year which is, as always, focused on scaling, and now it’s time to execute. Whohooo!
(If you are curious as to how I plan, here’s a helpful blog!).
But forget about me, we are here to talk about YOU and how you are going to scale your business.
So, here’s my first question: Have you put together a plan for your business for the rest of this year?
How to Scale Your Business Step 1
Step one to scaling your business is definitely DEFINITELY planning.
It’s hard to grow without a plan.
So your first step is to set aside some time for planning, with a goal to map out what you are up to for the rest of the year.
Step 2 to Scale Your Business
There are a number of ways to scale your business, and the best way depends on what you want and what you are willing to do to get there :).
But if we start with the lowest hanging fruit, it’s a little easier.
So, take a look at anything you’ve already got on offer as a coach now.
Do you have a good private coaching package?
Do you have some sort of baseline offering?
(If you don’t make sure you read this free guide to help you set one up!).
Start with that. Take a look at it and ask yourself this question: “What can I do to make what I already have more valuable/profitable?”
So back in the day when I still did private coaching, I asked myself that question. And the answer I came up with was simple: “I can add more to this package and therefore raise my price.” Presto, instant scaling on price, with minimal extra effort.
I took my baseline private coaching package and added a half-day intensive to the front of it, and then threw in a couple of extra bells and whistles, and finally added additional ongoing group support on the end.
Once I was finished I had what I called my “VIP Coaching Package” and I was able to significantly raise my rate because I was offering so much more in terms of value.
It took some time to design, and a bit more time with each VIP client, but overall my investment to scale my profit and revenue was easy. It didn’t cost me anything extra in terms of infrastructure, it fit with my sales funnel of selling private coaching, and it was good for the clients who wanted more from me.
So take a look at what you have to offer and see what you can add to make it even more valuable!
(Read on for step 3)…
Step 3 to Scale Your Business
Step three involves thinking about how to better leverage your time.
The problem with private one-on-one coaching is that you only have so many hours in a day. At a certain point, you just can’t charge more for your services, because clients won’t be willing to pay for it.
And, even if you are already charging a tremendous amount, you are still limited by time – you can only serve so many clients well.
So what’s next?
Well, I’m a big fan of keeping things easy, so let’s start there. We could jump to big launches and programs, but I don’t want to stress you out :).
To keep things easy, I like to take things I already have, and offer them to groups instead of individuals, OR I like to create new high-end things, but offer them *mostly* to existing clients.
The common thread? Going from one-on-one coaching to one-to-many. Anytime you are able to deliver the same message to a group instead of an individual, you are scaling!
So, the first option is a good leverage of time in terms of creation, but it requires a lot of effort in terms of marketing, selling, and infrastructure.
The second option is often super easy to market and sell (you are talking people who already love you) but requires more up front effort to create.
So which do you do? Honestly, it depends on you!
Are you wanting to spend more time selling and marketing – reaching a wide audience, or do you want to spend more time creating, reaching a much smaller audience (but one that is ready and willing to invest?).
Let’s talk about what each of these pieces *could* look like in your business.
If you do option 1, you can take your private coaching system and turn it into a group coaching package where you offer more structure and training, but less personal one-on-one time.
I did that, and I took the worksheets and materials I created for my private clients, added to the structure (since I wasn’t talking to folks individually anymore so I needed a more structured teaching approach) and used that as the basis of my first group coaching program.
4 years later, we are going strong!
If you look at the second option, you could create a retreat or ongoing support circle for some of your current private clients, and offer it to them as a continuation or as a “next step” in their journey to keep them making progress.
I did that as well. I created a space for my clients to make more immediate and rapid progress at a career-focused retreat, and I initially offered it only to my current private clients.
Both allowed me to better leverage my time and start to diversify and scale my business.
Step 4 to Scale Your Business
Okay, it’s time to get out your planner.
Think on which option is good for you, and now plan and put time on your calendar for how and when you will:
- Create it
- Launch it (what tools, information, and resources will you need)
- Find clients who want to buy it
Map it all out so you have your goals pretty clearly laid out, and your direction is clear.
You’ve got this!
What I did this week
I got so much great feedback on my last blog where I offered a peek inside of Coach Pony and the Revolutionary Club, that I decided to continue.
Feel free to let me know in the comments if you are on board and feel free to comment on what YOU did this week. Let’s inspire the community :).
This week was stressful, interesting, and fun.
Here’s why it was stressful:
Monday – Friday this was 100% a Coach Pony week. I cleared my calendar of every other commitment. Why? Well, right now I’m redesigning the Build a REAL Business program from the ground up, changing it to scale better and add even more value to my student’s businesses. Upgrading content something I do for every one of my programs regularly, though usually not on this scale (everyone in the program now gets access to the new stuff, which is one way I continue to deliver value to my clients).
I did this same exercise in November and December for the Career Happiness Revolution, and it’s a BEAR in terms of effort. I’ve decided in the future I’ll never completely rebuild two programs in the same 6 month period unless it’s for national security or to stop a plague :).
It’s a heavy strategic mental lift for me, because I have to think deeply about the best way to present the information in a new format, I have to create slides and then record everything, and I have to make sure that all the upgrades make the best sense for the students….and that’s before my team comes in and we even think about the tech/video/launch piece!
Anytime I do work like this I have to be careful. It’s easy to take on too much on a given day, and then feel burned out for the next day so I don’t make progress. Because it’s a very mentally heavy kind of work, I can’t do as much of it on any given day as I can do of other, more traditional work, and I have to plan for that.
Pro tip: Start thinking about your time differently and plan based on your energy-to-task ratio. So, for example, one-on-one coaching is intensive, you almost certainly can’t do it for 8 hours a day. Figure out how many hours you CAN coach per day and start to set up your calendar accordingly.
So while this program shift is underway my schedule is very structured. I’ve got hours mapped out to the minute, to make sure I do the work of both creating and recording the major content. I don’t like being THIS focused for this long, but it’s how I ultimately get a lot done.
Here’s why it was interesting:
We are building a head of steam in the current BARB program, and that always brings the most interesting and insightful client questions. People in this community are thoughtful and funny and smart, and I love seeing what impact the new information has on them, and what great questions they ask.
I am always present in the FB community in this group every day, but on Wednesdays we meet for live training and workshops. So I love Wednesday. This group keeps me on my toes!
Here’s why it was fun:
Creation is FUN.
So is planning.
Creation is fun because you get to see instant results and it’s magical to take something in your mind and make it a reality. So creating the new training for BARB and seeing the program unfold has been incredibly fun. I love seeing the slides and materials coming together, and planning for extra surprises and content that I know will inform/delight/and entertain :).
Planning is fun because you get to dream big. I like dreaming big! So finalizing the launch plans for the rest of the year has been fun for me. It’s a chance to feel like you are writing your destiny. I hope you see it as the same.
Now it’s time to expand the team to help me accomplish what I need to get done, so I can stay in my zone of genius (creation, strategy, and coaching).
And with that as a high note, it’s time to get back to doing admin work to close out my week and prepare for the next one! I’m writing this blog on Friday, and admin is one of the last things I do. I’ll be reviewing a potential new team member, talking to my designer, and trying to get through a stack of email.
Ready for more?
HECK YES YOU ARE! Grab our free 26 page guide on how to build a coaching business that *actually* makes money right here.
It’s fun, informative, and more approachable than the Prosperous Coach (we’ve been told), so why not get it for yourself?