Archive for April, 2010

Do You Need a Coach? 3 Ways Being in a Coaching Program Pays Off

When I first decided to expand my business online, I knew I needed help. 

I researched and learned all I could on my own, and made progress.  But, it took a lot of time learning everything on my own, and I knew I was missing some key pieces of information.  I wasn’t sure if I was doing the steps I knew about in the right order.  I became so confused!

It didn’t take long (about two months) before I decided I needed to shorten my learning curve so I could get my business growing faster, and with less frustration.

I knew I needed to get help from someone who could guide me, and show me the shortest path how to generate business online—someone who had been where I was now, had successfully navigated through the challenges, and could show me how to do it, too.

After researching all my options, I decided to invest in a coaching program that offered a complete step-by-step system about how to start/expand a business online.  I was ready to get help!

When I saw the investment in the program, I gulped.  I had never spent that much money on a program before.  But, I signed up, and enthusiastically and completely participated.  I completed all the reading and homework assignments.  Within 90 days, I created a ‘one-banana’ website, launched my first information product, and started building a list of qualified prospects online.

Was the investment in the program worth it?  You bet!  It saved me hours of time and frustration.  I was able to launch my online business faster, and within a few weeks, was creating income online.  By not investing in this coaching program I would never have been able to be successful, I am convinced of that just knowing what I learned from the program.

Since then, I have continued to invest in coaching programs for myself, as well as attend conferences and workshops by well-known coaches and experts.  Doing this keeps my business growing faster than I could ever do on my own…as well as builds my knowledge I in turn share with my clients.  Investing in myself makes me more valuable to my clients, which increases my income.

Here are my personal, top 3 ways a coaching program can pay off for you.

Tip #1 Choose Your Coaching Program Leader Carefully

Always strive to learn from the best, and choose your coach based on their experience and successful track record.  Your coach must also get you energized, excited, and inspired, and push you beyond your comfort zone. 

They must challenge you to stretch into new levels of success, but do so in a way that feels supportive and collaborative.  To get maximum value from a coaching program, you must work with a coach who has walked the path ahead of you.

Tip #2 The Bigger the Investment, the Bigger Game You’ll Play

I’ve always invested more than I thought I could “afford” at the time.  The reason is if the amount you’re investing doesn’t make you gulp (at least a bit!), you won’t take the program seriously (because you have nothing to “lose”).

Imagine investing $100 in a program.  For most people, if they don’t “do the work” it’s not a big deal; $100 isn’t that much that you’ll lose any sleep.

However, imagine investing $1,000s of dollars in a coaching program.  Do you take that number more seriously?  I bet you do!  Simply put, the more you invest, the more you implement, and the more you benefit.

Your investment causes you to step up to the challenge, and courageously face blocks and obstacles that repeatedly hold you back from growing your business.  Stepping up makes you raise your fees, launch a new program you’ve been contemplating for months, and take serious steps to grow your business.

Tip #3 Be Willing To Have an Open Mind

Being flexible and having an open mind will help you be open to creativity and possibilities for your business.  We all get used to doing things the way we’ve always done them, that sometimes, we become blind to new ideas and possibilities about how to do something.

It is not unusual to start a coaching program, and come out of it with an entirely new business.

Participating in coaching programs is the SINGLE BIGGEST REASON my business has grown into a profitable business I love.

Without coaching, I know with 100% certainly my business would not be as successful. Coaching has helped my confidence soar, and I know I’m on the right path to create the life I’ve dreamed and envisioned.

Are you serious about growing your business?  If so, step up and invest in your business’ future, either through a coaching program or through purchasing an information product you’ve been contemplating.

Without exception, the most successful entrepreneurs seek guidance and advice from other successful entrepreneurs; they learn from them, and model their behavior and actions.

Time is a resource you can’t replenish.  Every day we are ALL running out of time.  My challenge to you this week is to take some time, and figure out whose help you need to help you grow your business.  What are you waiting for?

Did a coach help you?  How?  Tell our readers about your experience by posting an entry in my blog. 

Cash Flow – 3 Simple Ways to Increase Your Cash Flow Right Now

While the last eighteen months may have seemed like you’ve been riding an economic rollercoaster, there’s no better time than now to take control of your cash flow.  Wisely implementing simple strategies will increase how much cash flow you create, as well as how much you keep.

The trick is to take an active role in how you create the cash flow you want.  The truth is there’s plenty of money floating around your market is willing to pay you for your products and services.  This is why I’m sharing with you three simple tips to help you get a handle on your cash flow, so you can sit pretty in the “money driver’s seat.”

1. Where’s the money coming from?

How many income streams do you have in your business?  By looking at this, you may discover there are untapped opportunities for you to offer a wider selection of services, and create a flow of additional income-generating activities.

For example, if you typically offer 1-1 services, now may the time to add a teleclass, a 6-month group coaching program, or begin to offer 1-day intensives.  Doing this leverages knowledge and program materials you’ve already created, and dramatically increases cash flow with very little effort.

2. Raise the value and pricing of what you already offer.

If you haven’t changed your services in a while, then chances are you’re offering something that may seem like “stale bread” to your clients, and to top it off, you’re probably undercharging for these products and services.

One thing you can do is redesign your current offerings to “freshen them up.”  Rename a home study kit, or add new content to update your offerings so they reflect current hot trends.  Doing this will increase perceived value of your offerings, increase desirability and demand…which puts you in a position to charge a higher price.

Everyone wins because your clients get a better package, and you’re increasing your cash flow.

3. Start tracking your income daily.

Every day write down the total amount of money you bring in.  By paying attention to your daily cash flow, you increase your “cash flow awareness,” and when you see a gap, it triggers you to work on collecting cash owed you, or pushes you toward launching a program to generate cash.  By paying positive attention to cash flow, you attract more of it into your life!

Keep your approach to solving cash flow issues simple. Be willing to refocus on what activities you do to make money, and create cash flow.  Be willing to make the simple, but powerful, changes I noted.  Doing so will bring more cash flow into your life easier than you thought possible.

Let me know how these tips work for you, and which tip is your favorite!  Share your tips with our readers by posting on my blog.

Main Marketing Challenge – What Do You Want to Achieve?

What challenges do you face growing your business?  What challenges do you want to overcome so that you can succeed?

Articulating your main marketing challenge by writing it down is a simple, but extremely powerful exercise.

Move closer to achieving your business goals by identifying the main marketing challenge you face to grow your business.  By identifying your main marketing challenge, you will accomplish more with the effort you put into implementing your marketing strategy.

So, what is your main marketing challenge?

Hmmm…if it were a simple matter of “seeing” where the problem lies, you would surely be solving it already, wouldn‘t you? That is why it is important to verbalize and write down the challenges you are facing. Otherwise, you will tend to focus on the symptoms of what is going wrong, and never quite get to the root cause of the marketing challenge you face.

To face your main marketing challenge, think in terms of unfulfilled opportunities.

Your main marketing challenge is usually tied into the marketing goals you want to achieve, which may be about how to:

  •  Increase sales of your business
  • Increase market awareness of your business
  • Increase visitors to your website and/or stickiness of your site
  • Get more new clients
  • Get more repeat clients
  • Achieve a certain brand image and perception

Examples of marketing challenge statements are:

  • How do I double our sales in the next 12 months?
  • How do I increase my Internet sales?
  • How do I get more qualified leads?

ACTION STEP: Think about the main marketing challenge you face in growing your business.  Write down your main marketing challenge statement in the form, “How do I ___________________?”

Refer to your stated main marketing challenge often. If you do, you will powerfully focus on address your main marketing challenge, and will quickly move closer to achieving your vision, goals, and experiencing success in your business!

Let me know what your main marketing challenge is by posting it on my blog, and if this posting helped you identify where you need to focus energy in your marketing strategy.