As controversial as it sounds, you don’t NEED to scale your coaching business. If you’re happy and comfortable with where your coaching practice is right now, that’s totally okay. But if you’re itching to make a bigger impact in your market, then keep reading because this article has five tips to help you do that.
Start Here: Why Do You Want to Scale?
Step one to scaling your coaching business is to get honest with your intentions. Why do you want to scale? It’s a question that deserves your full attention because the answer isn’t as straightforward as you might think. Scaling is a choice. It requires significant work, time, resources, and people. And let’s be real—you’ll probably lose money before you make more money.
Many reasons for wanting to scale are out of alignment with what we truly desire. We might think, “Well, I need to scale because that’s what you do in business.” But it’s your business. You get to decide how you want to grow. There’s nothing wrong with going deeper with your existing clients and making purpose your bottom line, rather than focusing solely on scaling revenue at the expense of profit, happiness, and quality time with loved ones.
Why are you doing it? Consider the impact on your joy, peace, and family time before you invest resources to scale.
5 Pre-Scaling Points to Keep in Mind
If you’ve decided that scaling your coaching business is right for you, here are five essential points that will guide your path forward.
1. Be Prepared for Extra Work
Scaling demands extra time, resources, and money. It’s a lot of work, especially if you’re moving beyond just yourself as a solo entrepreneur. Think of scaling from a six-figure business to a seven-figure one, and what that means in terms of duplicating processes, systems, and human capital. If you thought going from zero to six figures was hard, be prepared to work even harder now.
2. Don’t Expect Overnight Success
Let your growth happen organically and by demand. You don’t need to onboard three new people right away. Start with one, and then bring in another as needed. Letting your business grow naturally will prevent you from driving up operating costs too soon.
3. Slow Down Your Hiring Process
Before expanding your team, be crystal clear on your culture, values, and beliefs. Who are you, who are your clients, and what makes you unique? Your company and your personal brand are reflections of your culture, so make sure you attract people who resonate with your values.
Your hiring process should include networking, personal recommendations, and a thorough understanding of the person you’re considering bringing on. Slow down the interview process and ensure you meet potential hires in person and involve them in shadow days to see how they perform in real-world scenarios.
4. Set Pricing Based on People’s Talent
As you bring on new talent, you can introduce tiered pricing. It’s likely going to cost more to work directly with you than with your team, allowing for different pricing tiers and levels of service. Most coaches are underpriced, so this is a chance to raise your rates appropriately. Set your pricing to reflect the supply and demand for your time and availability, while still serving your market.
5. Create Recurring Revenue Lines
Establish products that create recurring revenue. It’s CRUCIAL to avoid being in constant sales mode by offering memberships or subscription-based services. Consider annual masterminds or online education platforms that generate consistent income. That way you can count on a steady income stream while dedicating focused time to your existing client base.
Is Scaling Right for You?
Scaling isn’t for everyone. I’m all about scaling businesses and expanding your reach, but it has to be for the right reasons. There will be times when staying where you are is perfectly okay, even necessary. Give yourself permission to be content with your current situation and the impact you’re making.
There will always be a season for growth and expansion, but there’s also value in going deeper and finding passion in your current work. Consider all the reasons to scale or not to scale. Then make an informed decision about what’s right for you.
