As a life coach, you likely have a deep desire to help people and make a positive impact on their lives. But let’s be honest: you also want to make a living doing what you love. That’s why it’s important to have clear revenue goals for your coaching business.
When I work with my clients, one of the first questions I ask is: what are your revenue goals?
This might seem like a blunt question, but it’s a critical one. Your revenue goals help us determine the overall business model we are working toward.
Of course, revenue is not the only important factor in your business. But it’s a key indicator of success and can help you make informed decisions about where to focus your time and resources.
So, how do you reach your revenue goals as a life coach?
It all comes down to awareness.
If you want to make thousands of dollars, you need to reach thousands of people.
If you want to make millions of dollars, you need to reach millions of people.
Now, I’m not saying that you have to work with thousands or millions of people directly to hit these targets. But you do need to make these numbers of people aware of you and the work that you do. And not just any people – the right people for the work that you do.
The good news is that reaching thousands of people is more achievable than you might think. But reaching millions requires a different approach. You’ll need to build more leverage into your time by focusing on building an audience and creating products and services that require less of your time to deliver.
So, how do you determine the right revenue goals and the tactics to reach them? It’s all about finding what’s right for you.
We start by building out a strategy based on your revenue goals, but we’re always open to making tweaks as we go. And remember, this formula isn’t fail-proof. It’s a foundational hypothesis that we customize for each person and adjust as we gather data about your business.
Finally, keep in mind that the more people you provide value for, the more potential for revenue you have. It’s a simple equation, but one that’s worth remembering as you build your coaching business.
Setting revenue goals for your coaching business is critical for success. By focusing on awareness and providing value to the right people, you can achieve your revenue goals and make a positive impact on the world.
And remember, there’s no right or wrong revenue goal – it’s all about finding what’s right for you.