When you start your coaching business, every new client you book is a great achievement and you know that you must be doing something right.
As your business grows and develops it is likely to come to a point where although you would like to, you just don’t have the time to help anyone else and you may need to look at alternatives to scaling your business.
The best solution is to anticipate growth that will happen over time and making a plan before it happens. Having a solution in place ready to meet those business developments should be a part of all business plans.
When scaling any business the first step is to really know and understand your business at its current position:
- What services do you currently offer and do these fit with where you see your future vision?
- What position are your finances at? Are you charging the same rate you did when you first began? As your business has developed, so have you and your skill set and experience, so should you, in fact, be charging more?
- Is there anything you can offer to add more value without taking up more of your time?
Once you understand your current position, it’s easier to spot the ‘gaps’ or areas for development or new services and create a new business model.
So how can you scale your coaching business?
- If your main focus currently is 1-2-1 coaching, consider group coaching. This is the simplest way of increasing the number of clients you work with without increasing your working hours.
Although the time you put into planning and delivering the session is the same, coaching more people at the same time will increase your bottom line.
The other added benefit of group coaching is the value your clients will get from being part of a like-minded community who are all sharing their problems, solutions, stories, and journeys. This is an incredibly powerful way to add value without huge investment from you.
- Create online courses and products. Use a collection of videos, worksheets and other materials that can be easily accessed across different devices. You can create courses for people to work through at their own pace or create webinars or social media groups to give that feeling of 1-2-1 coaching.
- Become a Speaker. Using the content you already use for your 1-2-1 sessions, create a unique talk covering the main themes and topics which you can deliver at retreats, conferences, and workshops. You can pitch to event organisers directly, add a section to your website or display your expertise via platforms such as Linkedin.
- Consider outsourcing. If it’s time that you’re short of, hiring a Virtual Assistant who specialises in the coaching industry should be one of the first steps to consider. With a Virtual Assistant’s skillset continually developing, they are much more than a traditional assistant. The closer you work with them, the more of those everyday tasks they can take away from you, leaving you to deal with the delivery and execution of your coaching services.
If you would like to find out how we could help you scale up in your business, contact firstname.lastname@example.org or give Emma a call on 07977 640119.