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Joanna Lott Coaching

5 Ways to Save Time and Money in Your Business

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5 Time and Money Saving Tips for Coaches to Grow Their Coaching Business

Table of Contents:

  1. Introduction
  2. Avoid Shiny Object Syndrome: Focus on Your Core Offering
  3. Accurately Track Your Time
  4. Outsource Tasks Strategically
  5. Implement Deadlines and Accountability
  6. Seek Guidance from Experienced Coaches
  7. Conclusion

Introduction:

As a self-employed coach, you’re likely wearing many hats, from social media manager to accountant to website designer. On top of that, you still need to fit in your family and other commitments. It’s easy to become overwhelmed with so much to do and wonder how you’ll ever get it all done. That’s why I’ve put together this article with five ways to save time and money and grow your coaching business effectively.

Avoid Shiny Object Syndrome:

Focus on Your Core Offering The first issue that many coaches face is the ‘Shiny Object Syndrome‘. In your business, it’s tempting to want to do everything at once, from selling to individuals and organisations to launching an online course. However, trying to do everything at once can lead to feeling overwhelmed and not having enough time to implement everything effectively.

To avoid this, start by focusing on what you’re selling. Have a clear understanding of what your core offering is for the month, and make sure you’re not getting distracted by designing a website, posting general content on social media, or learning the latest trends without a clear focus on the purpose of the task.

Once you’ve decided what you’re selling, the next step is to map out the services you’ll be offering across the year. Don’t try to create too many services to appeal to everyone. Instead, focus on doing one thing really well. By focusing on one core service at a time and mapping out your offerings across the year, you can prioritise both short and long-term goals and avoid rollercoaster months where you’re either too busy with client work to market or suddenly have no clients and start marketing again.

Accurately Track Your Time

The second issue that many self-employed coaches face is being overly ambitious with their time. It’s easy to think that you can whip up a social media post in just a few minutes, but in reality, it can take much longer than anticipated.

To avoid this issue, try using a time tracking app like Toggl. This will give you a better understanding of how long certain tasks take and help you manage your time more effectively. Don’t underestimate how much time certain tasks will take, and make sure to schedule them into your calendar.

Outsource Tasks Strategically

The third issue that many coaches face is not outsourcing when necessary. It’s easy to think that you have to do everything yourself, but that’s not true. Outsourcing tasks that aren’t your strong suit or that take up too much time can help you focus on the tasks that are most important and grow your coaching business more efficiently.

To determine what tasks to outsource, make a list of everything you do in your business and highlight the tasks that you either don’t enjoy or aren’t good at. Then, consider hiring someone to take on those tasks, whether it’s a virtual assistant, a graphic designer, or a copywriter.

Implement Deadlines and Accountability

The fourth thing in the way is no deadlines or accountability in place. When you’re self-employed, often for the first time in your life, you don’t have to hand your homework in or meet that work deadline! No one will notice if you do that task or not.

Without deadlines and accountability, things take a lot longer than they need to take. Studies have shown that having accountability in place increases your likelihood of success by 95%. So if you are procrastinating right now, don’t worry. It’s not just you.

Here are some ways to implement accountability to grow your coaching business:

  • Set weekly or monthly goals and deadlines for tasks
  • Find an accountability partner or join a group program
  • Schedule regular check-ins with a mentor or coach
  • Use productivity tools or apps with reminders and deadlines

Seek Guidance from Experienced Coaches

The final issue that many coaches face is you don’t know what you don’t know. As the image of all possible knowledge shows, there’s so much that we don’t know, especially when starting a business.

It’s often the new coaches who say, “It’s okay, I know what to do. I can do this on my own.” Whereas those a few years down the line realise, “There is so much that I don’t know, and I need help.”

The more you know, the more you realise there is to know, so asking others who have done what you want to do is a huge time saver in your business. Don’t be afraid to seek guidance from experienced coaches who have been in your shoes and can provide valuable insights and strategies to help you grow your coaching business effectively.

Conclusion

requires a strategic approach, efficient time management, and a willingness to seek guidance when needed. By avoiding shiny object syndrome, accurately tracking your time, outsourcing tasks strategically, implementing deadlines and accountability, and seeking guidance from experienced coaches, you can save time and money while growing your coaching business effectively. Remember, the path to success is not a solo journey; embracing these strategies and leveraging the wisdom of those who have walked before you can make a significant difference in your coaching business’s growth and profitability.

Prefer Audio?

You can also listen to all my new content on my podcast Women in the Coaching Arena

Whenever you’re ready, here’s how I can help you grow your coaching business:

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Interested to know more about my ‘Business of Coaching’ programme? Click here to learn more.

Hi, I’m Jo, and I’d love to help you on your coaching journey. I spent 20 years in corporate HR but faced challenges balancing work and family. Refusing to settle, I ventured into coaching, seeking financial success aligned with my values. Overcoming limiting beliefs, I developed strategies to attract clients, leading to the creation of my Reliable Results Path. Now, I support coaches in achieving their goals through my Business of Coaching programme. My values of honesty, personalisation and courage guide me, fostering a community of impactful coaches who believe in inclusivity and making a difference. More about me

 

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Hello and welcome! I’m Joanna Lott, and I’m passionate about empowering qualified coaches like you to build brilliant businesses.