Building wealth in your coaching business is a lot easier than what most coaches think. Once you have a system in place, you can have clients constantly coming in and waiting to work with you.
By the time you finish reading this article, you will know the system I used in order to build wealth in my business and how you can do the same. Instead of your client load going up and down like a roller coaster, your client load can now be a steady climb up.
Beyond that, I’m going to show you how to build a business that can keep going even when you’re not there.
The first step to building wealth in your business is to start building assets. There are a lot of different types of assets you can build in your business.
One kind of asset is your skills. Your coaching skills are an asset because you can help anyone change anything. Two of the best ways I found to develop my coaching skills were…
a) Just by moving forward every day and not waiting until I was “perfect”. I just kept going and helping people and figuring it out as I went along.
b) Learning whatever I could from others. Whether I invested in other people’s mastermind groups, programs or systems, I always made sure I was building my skills, because it is such an important asset.
Another skill that is an asset is your ability to enroll and sign up clients. You have to be able to convert leads into clients. If you can’t convert leads into clients, you really don’t have a coaching business.
Other assets you want to use to build in your business are:
- Business friendships, strategic alliances and promotion partnerships. When you develop these types of friendships with people, instead of getting one client here or there, you develop a relationship with people who can hand you over 10 and 20 clients at a time. These people can also help you grow your email list by 500 people, 1000 people and more.
- Marketing Materials. Another powerful asset in your business is your marketing materials. A lot of times coaches focus on creating marketing materials that don’t give them the results they want. Once you know how to develop marketing materials that actually grow your email list and get you clients, they become a powerful asset for you.
- Marketing system and marketing strategy. When you have your marketing materials, you need to have a marketing system in place. Having a good marketing system makes getting clients and growing your list more predictable.
These become very strong assets in your business. Your income will go up and your client load will go up until you have a waiting list of clients lined up waiting to work with you.
One other important asset is your team. Personally, I like to reinvest money back it into my team.
Whether you have 1 person, 2 people or 30 people on your team, they are a great asset for your business. These are the people who get things done for you and that is an extremely valuable asset to have.
When you build all your assets, your business can run even when you’re not there and that’s when you start to create true wealth!
Let me hear from you. How are you reinvesting your money back into yourself and your business?
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