Get Ready For The Last Quarter

By Author: Patrisha-Anne Todd
Total Articles: 2
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2% Less Income Can Be The Start Of Failure

Over the years I’ve identified a number of reasons why many small business owners stagnate, or experience economic decline mid-year to last quarter. It only takes between 2% - 3% of less revenue coming in to upset the balance for a small business to begin a season of economic immobilisation.

Lack Of Analysis

Lack of analysis is a contributing factor for economic immobilisation. During the first nine months of the business year those coaches who over that period have a stagnant or even disappearing client base are repeating and going through the same challenges that more successful coaching business owners have had when beginning to expand their reach in the market place. The solution is simple, measure your outcome and make changes as and when necessary.

Contributing moribund #1, the problem - why so many coaches find it difficult to market their coaching skills productively.

As a coaching business owner you know why you went into business in the first place. So I won’t discuss your WHY. The challenge I’d like to raise with you is about ...
... your WHO. Are you aware of WHO you’re directing your business offerings to? If you can easily answer the question then you are already onto a winner. So let’s clarify this point further; you are clear about the style and type of coaching you offer and who will benefit most from working with you as your client. You’ve worked out your list of who you don’t want to coach and the types of personalities who would not profit from what you have to offer, particularly as there could be misunderstanding or even a conflict of interest.

To avoid you missing your perfect target market I would recommend you take the time to analyse exactly what you have to offer and to whom you are currently offering your coaching services. Then you’ll be able to focus into taking action to tidy up your marketing tactics ensuring your get an ideal fit with the people you actually have marketing conversations with and with whom you send out marketing emails. This way you’ll avoid wasting your time, energy and even money on a market that do not want to do business with you.

The second point - Reason #2: is what many coaches in business experience when starting their coaching business journey or if they’ve taken their eye off the marketing/income ball and hit a rocky patch is the idea of being ‘desperate about money’. The thought of having a lack of income and the fear of debt, leading to failure, stress and overwhelm.
Often the shear need to increase income can have a devastating affect that causes a mix of actions that results in a mess, more work, more expense and a considerable loss of valuable time, that could have been spent in correct action and joyful celebration.

Each of those negative results I mentioned link to each other. Sadly, there are very few coaches who are motivated enough, adequately clear and sufficiently consistent to avoid experiencing those awful feelings.

The Way Forward

The best way to avoid any level of desperation is to harness an attitude of gratitude. Tapping into such a feeling will allow you the space to manifest better and more worthwhile actions. To do that, simply apply the idea of having ‘pilot projects’ and ‘testing phases’ to all your business ideas. This way you’ll automatically see all the hurdles, stumbling blocks, any brick walls and the opportunities attached to your business venture. It’s basically a system of good planning.

Good planning happens when you are willing to take your nucleus of an idea and test it out. Split testing will give you a selection of angles that will help you form an educated decision. Failure will then not be a part of your business journey; instead your research will give you the answers and best possible pathways to follow that idea through and lead to business success.

Everything takes time. Success doesn’t happen overnight, but when it arrives you know it. Success will happen in a heartbeat.

Good luck with your next quarter.

PaTrisha-Anne Todd, Author ‘Coaches In Business 6 Figure Marketing Coaching’
©2012 PaTrisha-Anne Todd