How to Succeed with Your Online Coaching Business When Times Are Tough?
Updated: 1 day ago
As a business owner, I know firsthand how challenging it can be to build a successful company during tough times. I founded my current business just before the onset of the pandemic times in 2020, and like many others, I had to navigate a landscape that was constantly changing and unpredictable. However, despite the obstacles, I was able to create something amazing and help over a thousand entrepreneurs over the past three years. And in the past year alone, I grew my team from just myself to a coaching company with over 10 experts.
If you're reading this blog post, I'm guessing that one of your goals is to make this year a successful one. So, based on my own experiences, I wanted to share with you 5 key lessons that I've learned along the way.
Lesson #1: Focus on the things you can change
During challenging times, it's easy to feel powerless and defeated. But I quickly realized that my business was something that I still had control over, and that gave me the motivation to keep going. When I started my business, I had planned to host live events, but when the challenging times hit and everything shut down, I pivoted and took my business completely online.
Lesson #2: Invest in skills
Investing in yourself and your team is crucial for success. I'm not just talking about buying online courses, but also hiring people who have specialized skills that you may not have. For me, bringing on an operations manager to lead the team was the first step in expanding my business. Now, I have a team of ten talented people who are helping me achieve my goals and freeing up my time to focus on other areas of my business.
Lesson #3: Go big when others are playing small
Even when times are tough, it's important to think big and take risks. One of our biggest sales months was during the summer holiday season when many others were on vacation. Rather than using the challenging times as an excuse for lower performance, our team focuses on developing and improving ourselves and our business, no matter the situation.
Lesson #4: Make the whole world your target market
Expanding your market beyond your home country can open up a world of possibilities. As a Finnish person, I've learned that our reputation for honesty and authenticity is highly valued in other cultures, and this has helped us differentiate ourselves in the global market. And with the ease of doing business online, it's never been easier to reach customers all around the world.
Lesson #5: Focus on sales activities
Finally, one of the biggest obstacles that many business owners face is their negative beliefs about sales. But the truth is, if you want to grow your business and make it last, you need paying customers. We prioritize sales activities and help our clients shift their mindset around sales so that they can confidently and effectively sell their services.
I hope that these lessons will be helpful to you as you navigate your own business journey.