3 Simple Yet Powerful Questions to Set Your Coaching Business Foundation
So one day you got this Idea: “I’m going to become a coach!”
You felt called, you felt inspired, you felt ready to get out there and change the world. So you made a commitment to take this Idea and turn it from a little side-hustle hobby into a successful online coaching business.
So exciting! Way to go!
But wait a sec, hold the phone . . . this is harder than you expected.
Nobody said starting your own online coaching business would be so dang COMPLICATED.
I mean, everywhere you look online there is someone telling you about the best strategies, the top tips, the secrets to success, and don’t-you-dare-miss-out-on-this masterclasses and courses.
Um, can you say information overload??
How in the actual heck do you process all of this advice and apply it to your unique coaching business? I mean seriously, just when you think you have a plan to move forward along comes another reason to doubt yourself and pivot in a new direction.
(But here’s the tricky thing about pivoting: it’s only helpful if you actually move forward at some point.)
If you’re like most new coaches, you face this constant state of overwhelm and confusion because you just don’t know where to go from here.
You’re spending every spare moment online reading, learning, absorbing, strategizing, trying to sort through all the noise to lay out some semblance of a business plan to bring this coaching business to life.
What is your next best step? How do start taking real, concrete action steps toward building your unique coaching business?
(After all, you certainly don’t want to spend your time duplicating someone else’s business. You want to know how to build yours.)
And it’s hard. So, so hard. You just want to stop guessing and get some real answers.
Well, let's pause for a hot second here.
No one can think clearly when their mind is spinning in twelve different directions.
Hear us when we say this: we get what you’re going through.
How? Because we have been exactly where you are right now.
We (Jessie and Sherri) have been struck out there in the swirling cyclone that is information overload. There is no end to the tips, advice, and steps others recommend to start and scale an online coaching business.
Here’s the deal: whether your coaching business is brand new or you've been plugging away at it for months or even years, you can't forge a path forward until you establish (or reconnect with) your business principles: your vision, mission, and core values.
Then you have the clarity to know which business plan, coaching programs, coaching tools, and coaching packages and services will best serve your unique coaching business and its clients.
Now let’s reflect, regroup, and refocus.
As business coaches, we have experience coaching clients at all stages of their business journeys. So we know that If you take some time to address these 3 crucial questions about your coaching business, you can start to make your coaching business real and share it with the world.
These 3 questions will help you establish the core foundation of what your coaching business will do.
THEN you can grow and find your clients.
Totally doable, right?
Now grab a piece of paper, your laptop, a journal, anything you feel comfortable using to begin your real brainstorming.
We are going to work through the following 3 questions:
1. WHAT your coaching business will be (your Vision Statement)
2. WHY your coaching business should exist (your Mission Statement)
3. HOW your coaching business is unique (your Core Values and Secret Sauce)
Question #1. WHAT is your Business Vision?
Of course you started your coaching business for a reason, so take some time write out a distinct picture of the future of your company. So take some time to put together a "Vision Statement" about what your business aspires to become.
This vision should align with your desired future so it can guide you on the ideal business plan to move forward. It will give you clarity for the future goals of your coaching business.
This Vision Statement should make you feel excited, motivated, and proud. It should light you up and give you a purpose to strive for, to be part of something bigger than yourself.
Time to move on to the next clarifying question.
Drumroll please . . .
Question #2: WHY should your business exist?
Establishing your WHY will drive all the actions and motivation in your coaching business.
Staying TRUE to your WHY keeps you on the right track toward helping YOUR people in YOUR unique ways.
Which sounds pretty flipping awesome, right?
Brainstorm a bit to put together a "Mission Statement:" a precise description of what your coaching business will do and the primary need it will meet.
A Mission Statement can give your coaching business a tangible purpose to achieve at every step of its existence and growth. This mission can help you stay aligned with your original intentions and desires so your business doesn’t get off track.
Hopefully you know your business well enough by now to have a pretty good grasp on why the world needs your awe-inspiring talents. Getting it in writing is a way to stay on track in spite of any future obstacles, setbacks, or shiny object distractions.
Here’s how to assess WHY the world needs your business:
- Step 1: Consider what it’s all about: Adopt a big picture perspective.
You absolutely started down this road for a reason. You had motivation to pursue starting your own coaching business. Maybe you had a successful experience with a coach and want to help others in a similar way. Maybe you love the idea of coaching clients and truly believe you can improve the lives of others with your talents and passion.Reconnect with that reason and evaluate whether your current course will get you closer to achieving that ultimate goal.
- Step 2: Think of who benefits from you bringing your business to life.
You are going to dramatically improve the lives of people you haven’t even met (yet!). Your future clients need what you have to offer, you will improve their lives and well-being, you will help them down the road of self-improvement and fulfillment. That’s pretty dang incredible, right?
Of course there are also the usual perks of being your own boss: having a flexible at-home business, making your own hours, and making extra money online while doing what you love.
You and your loved ones will reap the financial and psychological benefits of your dream coaching business being successful. Your hours will be flexible, your commute will vanish, your mood will be one of joy and content rather than stress or boredom.
How inspiring is all that??
- Step 3: Imagine what's possible after you and your business begin to accomplish your Mission Statement.
There is no finish line, only bigger and higher goals to strive for. Moving forward is a limitless opportunity. You will be amazed at how much you can achieve once you commit to bringing your business to life.
What will your next vision be once this one succeeds? Dream again and keep that dream alive!
Do you already have a Mission Statement? Great! Think about when was the last time you revisited it... Time has passed since its beginning, and your desires may have shifted a bit.
Don't be afraid to reassess your Mission Statement periodically and reevaluate the WHY you are aiming to achieve.
Still with us?
Because it’s time to move on to the final question of the strategy here: what makes you and your business so super special.
Question #3: HOW is your business unique?
Now that you’ve established the what and the why, narrow your focus to figure out the how. HOW is your business different and special from other coaching businesses?
- Core Values are the heart of your business and what it stands for.
- Secret Sauce is the core of your special talents and gifts.
- Together they embody all that makes you and your business completely, 100% YOU.
Step 1: Establish the “Core Values” of your business: a small set of guiding principles you will use to help shape any actions you take to move this business forward.
Core Values are your company’s highest priorities, deeply held beliefs, and fundamental driving forces. They serve to define who you are and what you value as a company. What makes you and your business unique because of the values you cherish and embody.
These Core Values help to create an identity for your company and allow you to celebrate your business’s passion and drive every day.
Once you have your business Core Values in place, they are something you should consciously and consistently check in with as you grow.
Consider your Core Values in every decision-making process. Before every product or service you create or launch, make sure they reinforce your core values to your customers, yourself, and your team.
Part 2: Figure out your “Secret Sauce:” your coaching superpower that no one else has but you.
Your Secret Sauce is the key to differentiation: standing out in a sea of other businesses. It's what makes you a unique and special coach.
Here is simple way to find out your Secret Sauce:
Ask a few close friends or family members for some insight (because it can be hard to see our own superpowers):
- What do I do that seems easy to me that feels hard to you?
- What three words would you use to characterize me?
- What is something I've done that made an impact on you?
You may be surprised (or not!) by their answers. Use them to self reflect and make sure your business caters to your unique talents, strengths, and that which comes easily to you by nature.
Being exactly the coach YOUR ideal clients need.
Maybe you are beginning by comparing yourself to others. Maybe your research has shown you what others in your field are working on, have already accomplished, and you feel intimidated or discouraged.
Competition does not exist … because no one can be you!
Working with clients to build real businesses, we see a common trait: they usually have a defeating thought about how their competition is better.
That’s why we help them see the truth of their gifts and their special sauce. Because when they embody and claim their unique qualities, they find that that is exactly the reason people connect with them.
So do your thing and competition becomes irrelevant.
As our community member Desola Davis puts it: “Do better at what you’re best at.”
Don't dwell or focus on your shortcomings, weaknesses, or struggles.
Instead, laser focus on your powerful, unique offering and message.
What you and only you can offer your clients.
Live your Core Values and play to your Secret Sauce strengths each and every day and in every strategy your business uses to grow and scale.
And now, finally, FINALLY you can figure out some real, workable strategies that will help YOUR unique business grow.
If you need a quick and easy way to start reaching your goals each and every week, start with this awesome FREE printable resource: Slay Your Weekly Goals
You did it! Start that happy dance again!
Armed with your Vision Statement, Mission Statement, Secret Sauce, and Core Values you are on an incredible course for the future.
But like we always tell our clients, planning is great as long as it leads to ACTION.
Now you’re ready to figure out some tangible strategies and plans your business will use to accomplish its mission and drive toward its vision. Set goals and make plans to will guide your actions, whether daily, weekly, or monthly.
You truly can make your business real and get the consistent clients, income, and impact you dream of. We have full confidence in you and your coaching business, and you should too.
So if you’re debating whether to go for it or not, the question we like to ask ourselves is this: What will I regret more: taking this chance and risking failure or not ever even attempting it?
Because what if you succeed? And it’s amazing? And your life is more meaningful and expanded than you ever thought possible?
Say YES to the desire to go for it, learn from mistakes, as you go, fall down, get back up, and never quit until you've mastered it.
And you always have the wonderful resources from StarrCox Community to guide you, from start to finish and everywhere in between.
We can’t wait to see where you go from here!
Pin this image to share with your friends! 👇
Are you ready to level up your coaching business?
- Get expert advice on your current business strategy
- Learn the best plan to move your business forward
- Start increasing your clients, income, and impact
Sherri & Jessie are here to quickly point you in the right direction with a 15-minute quick fix call.