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My business grew 10x this year because of one specific reason: I changed how I thought about my business. I began feeling like my business was a prison and I was its captive. Something needed to change for me to make my Coaching Business work.
It started by changing my mindset: what thoughts I was thinking, what emotions I was feeding, and what beliefs I allowed myself to embrace. I realized my previous mindset focused on trying to do everything myself. I needed a team of A-Players to support me! I looked outside of myself to find the answer and found others to help me do what I do best by doing what they do best. It meant changing my mindset first and then taking action.
I often ask coaches what thoughts they’re entertaining when it comes to coaching. What obstacles are in your mental pathway? What beliefs are you holding that are helping you take the next step forward in your coaching business? And, what are the secrets of adopting a millionaire mindset as a coach? You can have the proper strategy + system, but you need the right mindset to start making your dreams your reality!
I believe there are six principles that create the right mindset for scaling your Coaching Business to a million dollars. If you want FREEDOM and a LAPTOP LIFESTYLE like mine, these are the principles you need to implement. I’d like to share how I leveraged each of these to scale my own Coaching Business and some questions to help you do the same.
When it comes to my Coaching Business, my emotions can’t be up and down every day. I need to understand the business is the business. I have to stay positive with my expectations for my team, my clients, and myself. The more I can achieve emotional mastery, the healthier perspective I have to be free to scale my business.
Millionaire Coaching question: What emotions are you allowing to influence your coaching business?
I believe it’s best to focus on the solution, not simply dwell on the problem. Every business encounters unexpected problems, from staffing transitions to cash flow, project changes, and everything in between. Problems often loom larger than our perspective, which is why we must look beyond the obstacle in front of us.
As problems come up, I need to think about what’s the solution instead of being focused on the problem. I can’t waste time being distracted or wasting energy on the problem. The faster I focus on the solution, the less my Coaching Business is impacted by the problem in the future.
Millionaire Coaching question: What steps do you need to take to look past the problem and find the solution?
Part of scaling your Coaching Business to a million dollars is recognizing your time is more valuable now than ever before. One of the best ways to create more freedom in your schedule is by hiring the right team members as I did! Making a million dollars doesn’t necessarily make me a RICH person if I’m stuck at my desk every day.
When you’re first starting as a coach, it’s all about making that first dollar. It’s all you’re focused on. Once you overcome that and begin developing some standards, systems, and procedures for your support team, then you start to ask, “The business is running… but how well is it running?” You don’t want to build a jail; you want to build a business that gives you the FREEDOM to do what you want to do. That starts with doing what only you can do.
The value of time when you’re first beginning is very low, but the value of your time grows incrementally as your business increases. If your business can’t give you the time, it’s not worth having that business. Hiring a good staff allows you to do what only you can do by delegating what isn’t absolutely important for you. My team is full of A-Players who help me create better client results, enjoy more time (I’m working almost 30% less!), increase my income, and have more fun!
Millionaire Coaching question: What are you currently doing in your Coaching Business that you can automate or hire someone to do for you?
People do or don’t do things based on what they believe. For the most part, it has nothing to do with the task at hand. It has everything to do with what’s going on in their heads. When I’m working with other coaches, I always work on reframing their beliefs for a better reality. For example, I have a client who struggles with closing sales, and it’s because she has it in her mind that she can’t sell. After coaching her to reframe her belief, she now sees sales as her opportunity: “Sales calls are fun! What I’m offering is not sleazy at all. What I have can change someone’s life forever.”
The more beliefs I have that support me in my business, the stronger I can be. I believe in treating my team well because I see their value for everyone. The more positive beliefs I have in who I am, the more conviction I will have that I am doing the right thing.
Millionaire Coaching question: What limiting beliefs are keeping me from scaling my business? Do I believe I can scale my business to a million dollars?
Do you want to be a millionaire? Then you need to think like other millionaires. I believe immersing yourself in the millionaire mindset will help you start making more decisions like a millionaire. Start with this article from Inc.com called “Millionaires Think Differently (And You Should, Too)”.
We have to believe we are million-dollar coaches, and then we need to prove it’s true. I can’t just sit where I am and simply believe I’m going to make a billion dollars next year. I have to prove to myself and to others, I can do what I believe I can do. If I make a million dollars at first, then maybe I can reframe my beliefs that it’s possible for me to make a billion dollars in the future.
How do you gain confidence before you gain results? By trying. By studying. By learning from other coaches who are a bit farther down the road than you. The confidence you need to get the results you want comes from believing enough in your abilities to try. You may make mistakes. In fact, you may experience what many believe to be failures. Your ability to bounce back from those disappointments is what will drive your confidence moving forward.
Results build confidence and certainty. It’s those results that help me believe EVERYTHING is possible.
Millionaire Coaching question: What are you certain and confident is the most valuable insight you give to your clients?
I believe the people who accelerate the fastest are the ones that hire before they’re ready. More importantly, they hire people who are better than them. Don’t just hire who is the cheapest because you do get what you pay for. The more you can move into the background for certain parts of your business, then you will be able to accelerate your growth. I believe hiring experts to be part of your team will make you so much more money than what you’re paying them. I believe the secret of billionaires is to build a team around yourself before you feel ready. (Inc.com)
We as human beings aren’t built to work on our own. As a coach you need help brainstorming and making decisions with other people. People are constantly asking me, “How are you growing your business?” My answer: by hiring. I understand, hiring may be a boring topic, but it’s so instrumental for me by helping me scale my business and work less. The key is getting the right people in the door.
Millionaire Coaching question: Am I afraid to make my next hire because I don’t think I’m ready?
Can I share with you how I help Millionaire Coaches scale their business through hiring? I created a free insider’s guide “How Millionaire Coaches Hire Their Teams (and boost their profits fast)” with five action steps for hiring your dream team. You can 10x your income to the million-dollar mark through this FREE HIRING GUIDE!
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