Have you ever wanted to know how what is the best business advice I have ever received to grow a coaching and speaking business?
Starting and running a successful company is a dream that many people have, but most of them do not realize it.
In fact, about half of all startups close within five years of being in business.
You might be wondering ‘why is that?’
There are many answers to that, but one that pops up over and over is the lack of a good long-term marketing strategy.
When people start companies without looking at the bigger picture, sometimes they lose out on the market years down the line, and as a result, they close down.
If you want to grow a coaching business and not suffer the same fate as these startups, just continue reading up on this best business advice ever.
How to build a Coaching Business
Step 1: Build a Community
Nothing brings people together like a sense of community. At GTeX, we understand that it’s the people make up every business.
As a matter of fact, one of our favourite philosophies reads that ‘if you build a community first, then the community will build your business.’
Building a community, especially an online community, takes a lot of time and effort, so before you start this journey, make sure you’re up for it.
If you’re not sure how to build an online community, you can refer to our previous article where we talked about using Facebook Messenger bots to direct more people to your site and have more people subscribing to and using your services.
Building a community should be the first item on your business marketing strategy because your community is going to make up your market at one point.
Surrounding yourself with people who respect and even like you will also be an advantage when you start pitching your ideas to them. People are always more willing to listen to and support individuals they like.
Step 2: Create a Signature Program
After you have learned how to build an online community and built one yourself, the next step is to design a program that directly impacts that community.
People go out of business every year because of too much competition or because their consumers don’t like their product or find it useless. A signature program addresses those problems.
Because you know your community, you need to create a unique program that interests them for you to grow your coaching business.
You can get great ideas by listening to the complaints people make, or the things they wished existed near them. After that, look at how you can provide what that community lacks in a way that is unique to a signature program.
Step 3: Give your Community Access to your Business
So you’ve created an amazing product, tailored to the people you associate with on social media. How do you get them to engage in your coaching business?
There are two ways you can do this.
First, you can offer them a lifetime membership to your program at a one-off price.
This option is great if you want to get lifetime consumers.
It’s also good because it gives you a significant cash influx.
The second option would be to offer them monthly subscription-based services.
Provided you build a solid foundation in Step One, this option will allow you to sustain your business’s revenue for years to come.
Those three simple steps make for the best business advice ever.
Follow it and you’ll able to build your own solid, sustainable business.
Remember to leave us a comment and let us know how you are going to implement those strategies in your speaking business.
We look forward seeing you next week and always remember…
LIVE WITH PURPOSE
The Purpose Strategist