According to Forbes, only 1 out of 3 small businesses make it past the 10-year mark.
I don’t know about you, but that statistic is f*cking scary…
If you’re not building your coaching business for the long haul, then why are you building a coaching business at all?
To avoid wasting your time and money on a failing health practice, here are 5 reasons why your coaching business isn’t sustainable:
1. There’s no plan in place.
When you first begin your health coaching program or wellness brand, you get a rush of adrenaline that makes you want to shove everything else under the rug. It’s like you’ve FINALLY cracked the code.
“GREAT SCOTT, I’VE GOT IT! THIS is what I’m destined to do for the rest of my life.”
It’s tough to think about market research and sales funnels and the actual PROCESS of building a coaching business when this excitement has completely taken over your body. Trust me, I’ve been there soooo many times. However, if you take off with this brand new idea you literally thought of 5 minutes ago without any sort of plan in place, you’re going to have a reeeeeallly tough wake up call reealllllyyy soon.
To avoid professional heartbreak, think about these steps:
- Is there a demand for this type of business in the market?
- What type of clients are likely to buy my offer?
- Am I even going to like working with these clients on a daily basis?
- What makes your offer different than the 1000000 others out there?
- Do you have the time and resources to make this happen, even if shit hits the fan?
- Who can hold me accountable or mentor me through this process?
Sit down and visualize your coaching business backwards. Start from the end result and work your way back through the steps necessary to make that happen.
2. Your point of view is wrong
Many coaching business owners are so caught up in themselves, that they rarely take the time to remember where they came from. If you’re creating a health coaching program, you need to think about where your client is right now in their life. Do you remember how lost and confused you were when you first started out? Draw from those past experiences and think about the mindset you were in. Simplify your offer in a way that the you 10 or so years ago would understand, as if you didn’t have the knowledge you know now. What would have driven you to fork over $1000 for a 6-week course?
Maybe you need to simplify the wording of your social media posts or landing page copy. Sometimes, we (I’m especially guilty) come up with flowery phrasing that we think will be attractive to our audience, but in reality, it’s just downright confusing. Tell the customer what they will get when they sign up and what kind of problem you can solve. Make it easy to understand. Don’t give your client unnecessary roadblocks that prevent them from buying.
3. You’re not asking for help
We are such prideful bastards, amiright??
“I’ve been in this business for years, why would you tell me how to run my shit?”
Well queenie, how in the world do you expect to scale a wellness company alone? Who do you think is going to be more successful… The entrepreneur that surrounds him or herself with qualified experts, or the entrepreneur that tries to fill every position and wear all the hats because he or she doesn’t trust anyone else?
Once I changed my mindset of “Me against the world,” shit started happening in my life and my business. It’s in our DNA to help people. There is so much generosity out there, you just have to be willing to accept it. Send a message to someone who is 10 steps ahead of you in their career. Put some thought into what you want to learn from them and have the courage to ask that question.
Put some money aside to hire outside help. Even if it’s just hiring a housekeeper or a virtual assistant, free up your time so you can complete the tasks that only you can do. You can hire a VA in the Phillippines for literally $5 per hour and they will do WONDERS when it comes to administrative tasks. I DON’T recommend hiring them for anything other than simple, easy-to-manage tasks like email management. But even that can take so much off your plate.
START FOCUSING ON WHAT’S IMPORTANT.
When you’re ready to take your wellness business seriously and set yourself up for sustainable success, feel free to reach out. We can work together to create an actionable content marketing plan that will bring in leads while you sleep. You just have to make the decision to move forward…