I’m feeling super-charged this morning because I just got done hosting my first face-to-face Portland Mastermind meet-up. The idea to put together a group of local biz-boss ladies came to me suddenly and I flew into action.
I wanted to create a supportive outlet for ladies to meet with me each month for strategy, but also to get input and ideas from others in our area who were similarly growing small businesses.
At first, there was a ton of interest for the group, but ultimately, only 4 women signed up for this opportunity (2 short of my desired goal). Now that we had our first session I can say that I’m SO glad it is a smaller group. It’s intimate and we get to dive deeper into the issues and challenges that each business owner is facing.
But the whole experience got me thinking a lot about what makes one “ready” to invest in getting support in their business. Yes – it’s easy to rationalize spending money on tangible goods for our biz (website, business cards, payment system, booking system, even copywriting)…but it’s less easy to rationalize spending money on support and strategy to help you reach your goals.
Seriously…I’ve been a strategist almost 4 years now and what I do has NEVER been an easy sell (no matter how many of my clients go on to double their income…) The fact that this meet-up had so much potential, but didn’t sell out got to me asking many of these people what was up. Why weren’t they ready to commit? The responses varied, but they were all great reminders about what makes a time “good” or “bad” for investing in business support in the form of coaching or strategy.
So I wanted to write this post to give you a few tips on what makes it a “good” or a “bad” time to invest in business strategy.
Good Timing vs. Bad Timing
- Resistance– You are in a cycle of paying for business support, but you’ve proved that you aren’t actually “doing the work” and your coach or consultant hasn’t been able to help you break through your internal resistance to “doing the work”. At this point you likely need to work with a therapist or a coach who very specifically deals with the larger issues that are preventing your biz growth. My friend and coach Rebecca Merrifield has helped me leaps and bounds when I fall in and out of this resistance cycle in life and biz. Now this isn’t to say that a biz coach or consultant can’t help with this (this happens ALL the time with my clients), but your BIG RED FLAG that you need more than just a typical biz coach is that you REALLY aren’t making progress and you are having HUGE resistance to the advice being given to you.
- Overload– There are times in your life when you are simply too busy to follow through on the advice that your amazing coach or strategist provides. In essence, you either need more technical support in life or biz to hit your next level. At this point, what might be a better investment is a virtual assistant or general assistant. AKA, it’s clear that you need help getting stuff checked off your to-do list.
- You can’t afford support– So here’s the deal, you will have to pay a pretty penny to get killer business strategy. You either need to have the money to pay for it, or you need to be okay taking out a loan or going into debt to get it. Attempting to barter will create resentment and you won’t value the support in the same way and getting in WAY over your head to pay for support, will likely cause more stress and negatively impact your ability to focus and grow. Ultimately you need to make up your mind about whether it is worth it and move forward from there.
- You need a plan– You are either new to business or you aren’t making the traction you want and you aren’t sure what your priorities are (there are 100…which is MOST important)? A good biz coach or strategist will listen to you, help you vocalize your goals and help you set priorities to hit those goals FASTER. In fact, take my FREE Pivot to Profit quiz to get a better idea about what your general priorities are right now.
- You need accountability– If you’re good at what you do, but you struggle with the whole “being my own boss” thing, then hiring a coach or consultant for more accountability will be worth it’s weight in GOLD! One of my clients that has been working with me for 16 months has gone from making $300 a month to $4000 a month. Each month she tackles her priority list and each month she grows a little bit. Businesses VERY RARELY experience overnight success…instead, success is a slow building outcome of consistent efforts. A good strategist will help you set these priorities and they will remind you of them and hold you accountable when you gets SOS (shiny object syndrome).
- You value support and feedback– If you like running your business, but you want someone to turn to when there are times that you are struggling, then a biz coach might be a good fit for you. I’ve seen a lot of people do the whole “mental looping” thing where they have questions and struggles and instead of talking about them or figuring them out, they completely freeze. And because of this they end up on a loop of in-action for WAY too long. Having a good biz coach on your side will ensure that the little and big problems are met with solutions…not in-action
This list isn’t HUGE, but it will hopefully serve as a good guide in helping you determine if or when hiring a biz coach is right for you.