Coach Builder Part 7—How to Achieve Financial Stability as a Coach
Mar 19, 2024
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In this podcast, they discuss strategies for setting realistic financial targets for coaches. They cover the importance of goal-setting, deciding on the number of products to sell, and connecting with customers effectively. These areas are key to building a profitable coaching career.
Setting realistic financial targets is essential for coaching business success.
Focusing on lead measures over lag measures improves business performance and customer interactions.
Deep dives
Setting Realistic Goals for Business Growth
One key point discussed in the podcast is the importance of setting realistic goals for business growth. The host emphasizes the need to break down broad goals into specific, achievable targets. By setting revenue goals and determining the number of products to sell, businesses can map out a clear path towards growth. This approach involves reverse engineering the process to understand how to reach set targets.
Measuring Lead Measures over Lag Measures
Another significant insight shared in the podcast is the distinction between lead measures and lag measures when evaluating business performance. Lead measures, which signify actions leading to sales, are highlighted as more valuable than lag measures, which indicate past outcomes. Focusing on lead measures allows businesses to identify weak points in customer interactions and improve strategies for better results.
Mapping the Customer Journey and Establishing Measurable Goals
The podcast also emphasizes the importance of mapping out the customer journey and setting measurable goals at each touchpoint. By analyzing and enhancing customer interactions, businesses can optimize their processes and enhance customer engagement. Establishing quantifiable goals at various stages of the customer journey enables businesses to track progress and make informed decisions for continual improvement.
Coach Builder is available now! Order it at CoachBuilderBook.com/Podcastand get an 8-step plan to become a self-employed business coach so you can make great money doing something you love every single day.
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Are you a coach wondering where your next paycheck will come from? Many consultants and coaches are concerned about earning enough and growing their business. They’re anxious about maintaining a steady income, debating whether to quit their job for full-time coaching, and questioning if they can keep their business afloat during tough times. Simply hoping isn't enough to achieve financial stability and build a strong business. You need a solid plan for setting and achieving realistic goals.
In the 7th episode of our Coach Builder limited series, host Donald Miller, joined by producer Bobby Richards, shares strategies for setting effective goals to advance your coaching business. He’ll show you how to set realistic financial targets, decide how many products to sell, and understand the best ways to connect with customers. Focusing on these key areas will lead you to a profitable coaching career. Listen in and learn how to turn your financial concerns into practical steps toward success.
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