5 Ways to Save Time and Money in Your Business

As a self-employed coach, you’re likely wearing many hats, from social media manager to accountant to website designer. And, on top of all 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 in your business.

1. 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. But 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 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. If you’re not sure where to start, I recommend checking out my short blog post on mapping out your own signature coaching offer, or better yet, attend my free 90 minute high-value offer workshop. Next one is likely to be later on in April so sign up to my email list if you’d like to hear when I have the details.

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. Think about brands like Lego – they’re just selling Lego. 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.

2. 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. I once thought I could get my weekly email out to my list in just 30 minutes, but it ended up taking me two hours to write, edit, and send.

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.

3. 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.

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.

4. 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.

I build lots of accountability into my Business of Coaching programme. Check-ins that my clients complete at the beginning of the week and then the end of the week. We also have an accountability partner system so you have a 1:1 person who you chat with to prioritise your tasks and keep you accountable.

What accountability can you put in place, so you actually achieve those huge, amazing goals that you have set for yourself?

5. The final issue that many coaches face is you don’t know what you don’t know 

I was astounded when I saw this image of all possible knowledge and how little we actually know!

This is true when you start a business. What I’ve learned through having discovery calls is that it’s 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 say:

“There is so much that I don’t know and I need your 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.

I really hope you enjoyed this article and found it useful. Do drop me a message to tell me what you’re intending to implement!

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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.