Many expert coaches working online are able to start their business for a relatively low cost, making it easy to build up to a certain level of success in about 3-5 years. If you made it this far, congratulations, you’re now part of the 45% of businesses who haven’t failed by now!
Reaching 6-figures sounds great in theory, but in reality you’re probably still struggling with feast and famine months, grudging the tax bill, and can’t bear the thought of increasing costs to scale to the next level.
The amount you actually get to pay yourself is often far less than you would like for the freedom lifestyle that you always imagined this kind of business would give you.
To top it all off, what worked in the past doesn’t give you the same results anymore.
So let’s take a look at some of the reasons why your business is hitting a ceiling and what you can do to scale with near-magical ease by simply tweaking a few foundational pieces that you already have in place.
1. Can anyone say (distr)actions?
The opportunities in the online space are endless. You’re being asked to speak on a summit, write a blog, and do a video series, all while trying to nurture your own community and market your services. I get it, you’ve worked hard to get fairly established and it feels great to be approached by so many other experts who want to feature you.
It’s time to get much more intentional about where you spend your time. Is the time you spend moving your business forward? Or is it simply feeding your ego while your bank account stays stagnant?
2. A list of services as long as your arm
A confused mind says no. So when you overwhelm your potential client with EVERYTHING you can do, they simply don’t know what to choose first. And I get it, you have a wide set of skills and can help your clients in so many ways. Rather choose one entry point to bring them into your world and then let them discover what else you can help them with.
3. Positioning your marketing effectively
Most of the time I see coaches focus their marketing on what THEY can do rather than on who their ideal client is and what outcome they provide for THEM. Making this simple tweak in your marketing will guarantee that only the perfect (or near perfect) clients will resonate with your message and be willing to move forward with your services.
4. Show me the money
You can easily raise your fees when your offer gives massive transformational results. Tuning your marketing communication in a way that shows them the tangible value of the transformation makes charging high ticket fees a lot easier. Also, and this is a big one, working with the absolutely right clients can drastically lower time spent on non-profitable clients and activities, and you can hire help more smartly (the old model of hiring a ton of staff won’t help your business grow unless done strategically correct).
You probably think you can only grow your business by increasing your costs. But when you look at your business strategically, there’s probably enough pieces already in place that simply needs some streamlining and refinement to help you get the job done. Having a proper money management system can help you see whether you’re truly in the position to hire another team member and what value they can add to your business growth.
Which of these pieces are out of alignment in your business? It’s possible to scale with near-magical ease once you have them energetically aligned, coupled with a stellar strategy that moves your business forward.
Have a look at my Business Ascension Roadmap to uncover the missing piece to scaling and the exact steps you can take to break through your income ceiling.