If you’ve already mentally checked out of your corporate career, and you’ve come up with an idea for a coaching or consulting business; or if you’re brand new to the coaching and consulting industry, this blog is super important!
Things are shifting in the world - jobs are being automated, workers rights are being eroded. I bet you are doing paid overtime and taking on extra projects all the time.
I checked out of the corporate world 4 years ago. I knew I could never spend my whole life giving all my time and energy to a job that gave me very little in return. I built a business based on existing knowledge I had - first in stress management, then later as that business grew, as a business mentor for women.
Since then, I’ve grown a reader base of over 10,000 corporate women all launching Freedom Businesses they love. I’ve now helped 100 women to launch online coaching, consulting and service-based businesses of their own. They can replace their income, quit their jobs, and create the freedom they’ve always craved.
So how do corporate women, with no entrepreneurial experience, become successful business owners and go to leaders in their new fields?
INTRODUCING THE FREEDOM BUSINESS 123...
They are following a simple business and marketing formula. They are creating a business based on the lifestyle and income goals THEY want - I call this a Freedom Business.
They are using the power of online marketing to bring a consistent stream of clients - so consistent you can replicate your salary at least, month after month.
They are automating this system so that they can spend less time running their business, and more time doing what they love - helping people and sharing their knowledge. And they can spend even more time actually LIVING - working out, going to yoga in the middle of the day, working from a cafe, and travelling whenever they choose.
I have to admit, I cringe a bit when I see some people try to start a coaching business. They think that their coaching certification is their golden ticket to a full client book - but unfortunately, that just isn’t the case.
Worse, I see them flailing around with a blog, desperately trying to grow their platform. That’s how I started out too when I didn’t know any better, but I wasted over 8 months getting nowhere.
In this blog, I want to show you what’s broken with that approach and show you the super easy fixes to make your coaching or consulting business work for you.
STEP 1: WHAT WILL YOU OFFER?
In essence, a business is just helping people. It’s just providing them with what they need.
There is so much opportunity out there to help people with such range of needs. It could be helping people be happier, or lose weight, or train their dog, or improve their branding, or speak more confidently on stage.
To start your business, you literally just choose an area you enjoy and know something about and ask people what they need help with.
My clients have started businesses in so many industries - using existing skills they sometimes even forgot they had: sales, health, fertility, marketing, politics, wine, real estate. They are sharing their knowledge with the world, making great money, and helping other people to solve problems they’d be unable to solve alone.
Ask yourself: What do you know something about? What problem could you solve? What could you help others with - people who are a few steps behind where you are now?
STEP 2: WHO WILL YOU SERVE?
Once you know what you want to help people with, it’s important to hone in on who you want to work with.
It’s important to focus on a niched group of people because they will all have a shared experience. The group of people you are targeting should all have the same ‘pain points’ - i.e. the same struggle that your offering can solve.
Normally there are some similar demographics, like age or gender; and perhaps a certain life experience - like marriage, kids, divorce, promotion, drastic weightless - it all depends on what your industry is.
For example, at Living Rosy, I help women who feel really trapped in their careers. They want freedom. They are normally in the corporate world - they have crazy careers like I used to have in banking - they work long hours, but they know that life should feel different. I’m not marketing to male CEOs, or old retired ladies looking for something to occupy them. I’m focused specifically on working, stressed out women, who want to find a better way to live their life while still enjoying the financial and intellectual benefits of a stimulating career.
When you niche, you can then get to know and understand your clients’ problems at a deep level, so you can solve them. Even though it might seem illogical, the only way to guarantee business success is to niche down and focus on only a small section of the wider market. Being targeted in your marketing allows MORE people to join your tribe! The MORE niched you are the MORE people you will attract! This is such an important concept for marketing!
Ask Yourself: Who do I really want to work with? Who do I enjoy being around? Who will value my services?
STEP 3: HOW DO YOU SUCCEED?
When you do hit on a business idea and you do want to get going - and that’s probably a lot of you watching now - taking action is so overwhelming. It is really tempting to take on a hundred different avenues and strategies when you first start your business. Blogging, SEO, Live events, Networking, Webinars, Facebook ads, PR - there are so many options - and so many gurus out there trying to persuade you to buy their “thing”.
Again, the people that try to multitask all of that rarely get anywhere. Especially if they have a full-time job on top! There just aren’t enough hours in the day!
But instead, you can take the simple route. Be strategic about WHAT you spend your time on, and you can reduce your business time down to just 5 hours per week and still see massive growth over the first year.
Your business activity comes down to just two pieces:
- Finding new ideal clients (growing your list)
- Nurturing the audience you already have (building relationships with them)
Remember: your money is on your list. Focus primarily on creating a way whereby your audience can join an email list. This way, you own the data. While it’s wonderful to have lots of followers on social media, if they change the algorithm or that platform falls out of fashion, you’ll lose all your hard-earned followers. Instead, with email, you can always reach your audience to continue to build relationships and share your offers.
Usually, about 1% of people buy at any given time. Therefore, if you have a list of 100 people, expect about one sale. If you have 1,000 on the other hand, you’re likely to have 10 sales. This is where growing your list consistently becomes very important: you need to reach out consistently to new people.
So that’s task number one: focus on building your email list of ideal clients. You can do this in so many ways:
- social media ads
- in-person networking
- guest blogging
- podcast interviews
- posting in Facebook groups
The second thing you need to focus on is nurturing the list you already have. Your audience needs to build up some trust with you before they purchase from you. That’s where a great nurturing campaign works wonders.
People buy from people they know, like and trust.
It’s important that first of all, they know who you are and what you offer. How can you help them? What are the benefits and results of working with you?
Make sure you state explicitly how they can work with you in a formal way, and what they can hope to achieve by doing so. You’d be surprised how many new business owners get really shy about asking for the sale. Just tell them what you have!
Share who you are - share your story, share why you are starting this business. People want to know who the face is behind the brand.
More importantly, though, they buy from people they like. Are you sharing your personality in your marketing? Here's how can you share more of yourself in your brand:
- Share your picture - people want to know who is behind the brand.
- Be Vulnerable - be a human being. Share how normal you really are.
- Share Your Story - it will help your audience get to know you more personally, and inspire those a few steps behind you.
Finally, people buy from people they trust. Always be impeccable with your word - if you say you will reply on a certain date, make sure you reply. Don’t ever let your audience down. Similarly, if you say your prices are rising on a certain date, or you will take away a bonus, make sure you follow through.
Ask Yourself: What are my income & lifestyle goals? What is my bigger purpose? How can I help others, and create the life I want to live?
WANT THE FREEDOM BUSINESS BLUEPRINT?
I recently channelled my entire strategy for creating a successful online coaching or consulting business into one document: my Freedom Business Blueprint.
I’m giving it away for free, along with 4 training videos which teach what I just shared here in detail, plus a whole series of other really important pieces, like how to automate your marketing, and how to ethically create high-value coaching and consulting services in your niche.
You can get free access here all this week:
Get the Freedom Business Blueprint here >>>