Mastering the Four Phases of Coaching Business Growth
Welcome to The Millionaire Maker Show. I'm Lindsey Anderson, a business coach for coaches, and I'm your host. As a master conversion copywriter and experienced business coach, I'm here to provide you with insights and strategies to scale your coaching business. In this episode, we'll focus on mastering the four phases of business growth.
Before we dive in, I encourage you to listen to Episode 1, where I introduce the Millionaire Maker Coaching Funnel. It will give you a comprehensive understanding of the strategies and concepts we'll discuss today.
In this episode, I'll be sharing valuable insights on the four phases of business growth. With 20 years of experience as a business coach for online coaches, I've helped numerous individuals scale their businesses and achieve remarkable results.
The main objective of this episode is to guide online coaches in generating consistent revenue and achieving more time, money, freedom, and impact.
Key Takeaways:
Revenue Phase: As a business coach, I understand that generating revenue is crucial for sustaining and growing your coaching business. It lays the foundation for all other phases of growth. Without consistent and adequate revenue, your business may face financial difficulties and limited longevity.
Impact Phase: Once you've established revenue, it's time to focus on making a significant impact. This phase involves reaching a broader audience, investing in products, coaching programs, and memberships, and expanding your influence to create a meaningful difference.
Freedom Phase: With a solid business foundation and consistent cash flow, you can enjoy lifestyle freedom, financial freedom, and creative freedom. This phase is all about leveraging your resources and systems to create a business that works for you, allowing you to live life on your terms.
Legacy Phase: Building a legacy involves long-term planning and creating a business that can thrive even with reduced personal involvement. It's about creating a lasting impact and ensuring that your business continues to make a difference beyond your direct efforts.
Important Episode Highlights:
The Importance of Revenue Generation: I emphasize the significance of revenue generation. It serves as the fundamental resource for sustaining and growing your coaching business. Without consistent revenue, your business may struggle financially, and its longevity could be at risk.
Let me share Brian's story to illustrate this point. Brian, a passionate holistic health and wellness coach, initially focused on making an impact without prioritizing revenue generation. Despite having a strong online following, he struggled to convert his followers into paying clients. Neglecting revenue generation led Brian to face financial hardship and even contemplate quitting his business.
However, when Brian restructured his approach and placed emphasis on revenue first, he was able to create one-on-one coaching programs. This eventually allowed him to transition to one-to-many programs, significantly boosting his revenue and expanding his impact.
The Phases of Business Growth:
- Revenue Phase: This initial phase requires a focused approach on sales, marketing, and client relations to establish a consistent cash flow stream. It sets the foundation for future growth and success.
- Impact Phase: Once revenue is established, as a business coach, you can expand your reach and invest in products, coaching programs, and memberships. This phase is all about making a broader impact and creating a ripple effect through your work.
- Freedom Phase: With a solid business foundation and consistent cash flow, you can enjoy lifestyle freedom, financial freedom, and leverage in your business. This phase is about creating a business that aligns with your desired lifestyle, giving you the freedom to focus on what brings you the most joy and fulfillment.
- Legacy Phase: The final phase involves long-term planning and creating a business that can continue to thrive beyond your personal involvement. It's about leaving a lasting legacy and ensuring that your business can make a sustained impact even as you step back.
In Conclusion: The Millionaire Maker Show is your go-to resource for online coaches seeking valuable insights and strategies to scale their businesses. As a business coach for coaches, I'm dedicated to helping you achieve your goals of impact, freedom, and legacy.
Remember to visit themillionairemakershow.com/insiders to sign up for early access to each episode, exclusive bonus content, and valuable resources.
Resources Mentioned:
Transcript
welcome to this episode of The Millionaire Maker Show.
Lindsey Anderson:I am your host, Lindsay Anderson, and today's episode is gonna be me and you.
Lindsey Anderson:We're gonna be talking about how to master the four phases of business growth.
Lindsey Anderson:Now, if you haven't had the chance to listen to episode one where I
Lindsey Anderson:outline the Millionaire Maker Coaching Funnel, you're gonna wanna head over
Lindsey Anderson:and listen to that and then come over here to episode two where we focus on
Lindsey Anderson:the four phases of business growth.
Lindsey Anderson:You're going to want to listen in and take notes on this episode.
Lindsey Anderson:Because I'm going to outline step by step how to generate Enough consistent
Lindsey Anderson:revenue where your coaching business can literally be your bank account
Lindsey Anderson:and bring you more time, more money, more freedom, and more impact.
Lindsey Anderson:Now, before we hop in to start talking about the four phases of business growth.
Lindsey Anderson:I wanna remind you to head on over to the Millionaire Maker show.com/insiders.
Lindsey Anderson:If you head over there, and put in your name and email address.
Lindsey Anderson:You'll receive early access to each new episode, exclusive bonus content
Lindsey Anderson:and resources designed to help you implement all of these strategies we
Lindsey Anderson:discuss in the show and not to mention.
Lindsey Anderson:The first 100 people, the sign up will receive a very special surprise.
Lindsey Anderson:So head on over to the millionaire makers show.com/insiders.
Lindsey Anderson:Let me set the stage when it comes to the phases of business growth
Lindsey Anderson:and how vitally important it is that you attack and tackle these stages.
Lindsey Anderson:In the following order revenue impact, freedom, and legacy.
Lindsey Anderson:Now, when I first got started in the coaching space and creating
Lindsey Anderson:social media and building my email list about 15 years ago, I.
Lindsey Anderson:Had the misconception that if I built an audience and it didn't really
Lindsey Anderson:matter who was in that audience or who I was attracting, if I was able
Lindsey Anderson:to attract enough people and have a big enough impact on people, then
Lindsey Anderson:my bank account would reflect it.
Lindsey Anderson:I was completely obsessed and interested in making the biggest impact I could
Lindsey Anderson:because I believed that the money would follow, but I was completely wrong.
Lindsey Anderson:I was focusing on impact.
Lindsey Anderson:I thought I was doing good in the world, and no matter how big my audience got,
Lindsey Anderson:Because I wasn't focused on revenue.
Lindsey Anderson:I was always scratching and crawling and aching to get by.
Lindsey Anderson:I would continually look at my bank account and wonder, why am
Lindsey Anderson:I putting all of this work in?
Lindsey Anderson:Why am I putting hour after hour in?
Lindsey Anderson:Only to have absolutely nothing in my bank account.
Lindsey Anderson:Revenue is the fundamental resource that will allow your coaching
Lindsey Anderson:business to sustain itself.
Lindsey Anderson:Grow and evolve, and without a consistent and adequate revenue stream, your
Lindsey Anderson:business can quickly run into financial difficulties, and your longevity can
Lindsey Anderson:be seriously threatened, leaving you without a coaching business and leaving
Lindsey Anderson:your potential prospects your expertise So revenue generation understand this.
Lindsey Anderson:It's not just about survival.
Lindsey Anderson:It's about setting the foundation for all of the other phases of business
Lindsey Anderson:growth that we're gonna talk about today.
Lindsey Anderson:You wanna think about cash flow and revenue as a building block upon which
Lindsey Anderson:the rest of your business is built.
Lindsey Anderson:Once you have a solid revenue base established, and you can count on this
Lindsey Anderson:money coming in, and you no longer have to bite your nails, wondering how you're
Lindsey Anderson:going to make it to the next launch.
Lindsey Anderson:You'll be able to have the resources to create a much broader impact, such as
Lindsey Anderson:investing in more products, developing one to many coaching programs, creating
Lindsey Anderson:courses and memberships that can truly have an impact on so many people
Lindsey Anderson:Now, the freedom phase is where internet dreams are made after
Lindsey Anderson:you've focused on revenue and impact.
Lindsey Anderson:Freedom is where.
Lindsey Anderson:You are waking up to several thousand dollars purchases in your email.
Lindsey Anderson:You are able to go on vacation.
Lindsey Anderson:You're able to take off.
Lindsey Anderson:You are able to have some real freedom.
Lindsey Anderson:In your lifestyle and with your finances, with your creativity, and with your
Lindsey Anderson:company than you ever have before.
Lindsey Anderson:And that is because you have developed a consistent cash flow stream.
Lindsey Anderson:You know that you can make sales, you know how to attract those customers,
Lindsey Anderson:and now you have leverage to have real freedom in your business and life.
Lindsey Anderson:And the fourth phase is legacy.
Lindsey Anderson:Once your business has a strong revenue stream, you're
Lindsey Anderson:making a significant impact.
Lindsey Anderson:You have the lifestyle freedom and the financial freedom
Lindsey Anderson:that you are looking for.
Lindsey Anderson:You can then really focus on legacy.
Lindsey Anderson:That involves long-term planning, creating something that lasts
Lindsey Anderson:beyond your involvement that it will continue to live on even after you.
Lindsey Anderson:Decide to take a less active role in your business.
Lindsey Anderson:The people who come to me typically fall into one of these four categories.
Lindsey Anderson:they're looking to make money They're focused on impact.
Lindsey Anderson:They want more freedom.
Lindsey Anderson:or They're looking for a legacy, I can't tell you how many times I hear.
Lindsey Anderson:From my clients because I really truly attract some of
Lindsey Anderson:the most amazing people to my.
Lindsey Anderson:Coaching business and very frequently they come and they say,
Lindsey Anderson:Lindsay, I cannot charge more.
Lindsey Anderson:I wanna be accessible.
Lindsey Anderson:I wanna be able to make an impact to as many people as possible.
Lindsey Anderson:I cannot charge high ticket rates.
Lindsey Anderson:And to that, I say, I understand.
Lindsey Anderson:I also wanna make an impact.
Lindsey Anderson:I know that you don't want to not be available to those individuals who cannot
Lindsey Anderson:afford it, but here is what I say to that.
Lindsey Anderson:There are YouTube channels.
Lindsey Anderson:There are free resources that are available that teach many of the things
Lindsey Anderson:that you teach that can help those individuals who are at that place,
Lindsey Anderson:in their life and their business.
Lindsey Anderson:Where for you, it's very important to position yourself in a place where
Lindsey Anderson:you teach more advanced strategies, where you can bring people in who
Lindsey Anderson:are willing to pay you for your work.
Lindsey Anderson:And you can get paid and develop a consistent revenue stream.
Lindsey Anderson:Once you do that, you'll be able to turn around and make that impact and offer
Lindsey Anderson:lower cost courses for those individuals follow the Millionaire Maker self
Lindsey Anderson:filling coaching funnel from episode one.
Lindsey Anderson:You will then be able to have a plan.
Lindsey Anderson:What is the plan for nurturing those individuals from low-cost programs,
Lindsey Anderson:clear up into one-on-one coaching instead of just offering low-cost
Lindsey Anderson:programs and hoping you sell enough over a long enough period of time to
Lindsey Anderson:make a real impact on your bank account?
Lindsey Anderson:Straight up between me and you, it will not work.
Lindsey Anderson:You will not be able to make enough money in your coaching business to afford you
Lindsey Anderson:any kind of freedom in your lifestyle just by selling Lowcost programs.
Lindsey Anderson:If you want the proof for yourself on this concept, please.
Lindsey Anderson:Push pause.
Lindsey Anderson:Take a moment.
Lindsey Anderson:Sit down and literally do the math about how much of your low-cost membership
Lindsey Anderson:or your low-cost courses that you literally will have to sell in order to
Lindsey Anderson:make a significant impact on your life.
Lindsey Anderson:And then ask yourself, okay, have you done this before?
Lindsey Anderson:Are people flooding in on these low-cost offers?
Lindsey Anderson:And how exactly are you going to be able to make sales?
Lindsey Anderson:In the long term and consistently, that will keep your bank account full
Lindsey Anderson:and allow you to have the cash flow in your business that will actually
Lindsey Anderson:take you to where you're going.
Lindsey Anderson:The answer is it won't.
Lindsey Anderson:It's as hard to get $47 for a low cost membership out of someone as it
Lindsey Anderson:is to market high ticket coaching.
Lindsey Anderson:So look at what you're doing.
Lindsey Anderson:Look at the reasons why you feel like I want impact, or I want legacy, or
Lindsey Anderson:I want freedom and that's the only thing that I want, and I want it now.
Lindsey Anderson:Trust me.
Lindsey Anderson:I know that you want those things, but revenue is truly how you'll be
Lindsey Anderson:achieving all three of those goals.
Lindsey Anderson:Now I already hear.
Lindsey Anderson:I hear it.
Lindsey Anderson:I hear, I know.
Lindsey Anderson:I'm on a podcast here, but I already hear what you're saying, Lindsay.
Lindsey Anderson:I get it, but I'm special.
Lindsey Anderson:Okay.
Lindsey Anderson:I'm gonna focus on all four phases at the same time, and I'm
Lindsey Anderson:gonna caution you with that when.
Lindsey Anderson:Coaches try to focus on all four phases of business growth
Lindsey Anderson:at once or even two at a time.
Lindsey Anderson:You'll find yourself spread too thin.
Lindsey Anderson:Your customers and prospects will be confused and you'll not be able
Lindsey Anderson:to implement the appropriate systems necessary to do this stuff on autopilot
Lindsey Anderson:to legitimately get you to the next phase.
Lindsey Anderson:For example, revenue.
Lindsey Anderson:Generation definitely requires a sales focused approach and
Lindsey Anderson:a significant time commitment.
Lindsey Anderson:Where creating impact, you might need community outreach,
Lindsey Anderson:or you might need to run ads.
Lindsey Anderson:Believing in the revenue phase and doubling down on the revenue
Lindsey Anderson:phase means you're heavily focused on sales, marketing, and client
Lindsey Anderson:relations to bring in cash flow.
Lindsey Anderson:So I'm gonna caution you, I'm gonna caution you that you're not I've
Lindsey Anderson:consulted with hundreds of coaches.
Lindsey Anderson:I've heard it all before.
Lindsey Anderson:You cannot focus on two of these at once.
Lindsey Anderson:You wanna focus on one, accomplish that, and then focus on the other three.
Lindsey Anderson:Let me share with you the impact of what not focusing on the revenue
Lindsey Anderson:stage in your business can lead.
Lindsey Anderson:this is best demonstrated through a client's story.
Lindsey Anderson:Now I have a client, his name is Brian.
Lindsey Anderson:He's incredibly passionate about holistic health and wellness, and he
Lindsey Anderson:started a coaching business to help other men achieve their wellness goals.
Lindsey Anderson:Now he was an expert in his field and he had a huge vision to have a significant
Lindsey Anderson:impact on people's lives because his own health and wellness journey.
Lindsey Anderson:Led him to know what a significant impact he could make.
Lindsey Anderson:Now, Brian, he was completely and incredibly passionate about his service
Lindsey Anderson:and he dove into his coaching business thinking that his passion and knowledge
Lindsey Anderson:were enough, and that money would naturally flow now, he spent most of
Lindsey Anderson:his resources, his time, and his money, creating extensive high quality content
Lindsey Anderson:for both his blog and social media.
Lindsey Anderson:He thought that that would attract a broad audience who would eventually sign up for
Lindsey Anderson:his coaching services when he came to me.
Lindsey Anderson:He had a robust online following, but he was failing to convert these followers
Lindsey Anderson:into paying clients effectively.
Lindsey Anderson:He had not thought through a proper pricing structure for his services.
Lindsey Anderson:He had not implemented the strategies to monetize his online content effectively.
Lindsey Anderson:He didn't understand his client base or what their problems were or what
Lindsey Anderson:they would be willing to pay for.
Lindsey Anderson:Now over time and why Brian reached out to me was because the cost of running
Lindsey Anderson:his business, creating content and living expenses began to start piling up.
Lindsey Anderson:In fact, Brian had left a corporate job to pursue his online coaching
Lindsey Anderson:business, and that corporate job was literally staring down the barrel at him.
Lindsey Anderson:In six months, he would have to go back unless he figured out how to monetize.
Lindsey Anderson:His coaching business.
Lindsey Anderson:So Brian is a perfect example of someone who has the passion and knowledge to make
Lindsey Anderson:a significant impact in people's lives.
Lindsey Anderson:But the complete neglect and ignoring of the revenue phase, or wanting to
Lindsey Anderson:go out and learning sales skills and strategies for converting people from
Lindsey Anderson:social media into your coaching business led him into financial hardship and
Lindsey Anderson:stress, That made him really want to give up and quit his business.
Lindsey Anderson:Now, when he found me, we restructured.
Lindsey Anderson:We focused on one-on-one coaching model.
Lindsey Anderson:I consulted him around creating coaching programs that created a big impact for
Lindsey Anderson:his client as well as revenue for himself.
Lindsey Anderson:I guided him through my process of getting one-on-one clients,
Lindsey Anderson:understanding their problems, and then.
Lindsey Anderson:what to say and how to say it, and how to appeal to those individuals in
Lindsey Anderson:his audience that would actually pay him what he was worth and have the
Lindsey Anderson:transformation that he was creating, he was eventually able to take his
Lindsey Anderson:one-on-one work to a one to many program.
Lindsey Anderson:But it took him longer than it should have.
Lindsey Anderson:if he would've focused on revenue first, Brian wouldn't have had to go
Lindsey Anderson:through all of these financial stresses.
Lindsey Anderson:He wouldn't have had to think about what it would be like to not have his coaching
Lindsey Anderson:business and go back to corporate America.
Lindsey Anderson:After our work together, Brian now has a process where he knows how
Lindsey Anderson:to enroll one-on-one clients into his coaching programs and get those
Lindsey Anderson:individuals off of social media and into his coaching programs.
Lindsey Anderson:Brian's story is the perfect example of what it can look like when you
Lindsey Anderson:don't focus on revenue generation in the earlier stages of your business
Lindsey Anderson:and all of the struggles that you can avoid by looking at those revenue
Lindsey Anderson:problems head on, figuring those out.
Lindsey Anderson:And giving yourself the luxury and the freedom of having consistent
Lindsey Anderson:cash flow in your business.
Lindsey Anderson:that's the revenue phase.
Lindsey Anderson:We're talking one-on-one coaching.
Lindsey Anderson:We're talking bespoke coaching programs that you can tailor with your
Lindsey Anderson:client and having big, big impact.
Lindsey Anderson:And that's really what.
Lindsey Anderson:The revenue phase of your coaching business looks like next, we're
Lindsey Anderson:looking at the impact phase.
Lindsey Anderson:The impact phase is the stage in business where you can really start to leverage
Lindsey Anderson:your time and make an bigger impact through group coaching programs or
Lindsey Anderson:courses where you let video and other technology make that impact for you.
Lindsey Anderson:This is where your programs can become lower cost and be a bit
Lindsey Anderson:more accessible to your audience.
Lindsey Anderson:Now, the impact phase comes into play after a solid foundation has
Lindsey Anderson:been laid in the revenue phase.
Lindsey Anderson:Once a business has secured stable and consistent revenue.
Lindsey Anderson:You now have the financial security and resources to think bigger
Lindsey Anderson:and figure out how to have an impact on many people at a time.
Lindsey Anderson:In the impact phase, you're focused on scalability.
Lindsey Anderson:With group coaching that will allow you to reach and help more people.
Lindsey Anderson:We're focusing on a collaborative environment where people can learn
Lindsey Anderson:from each other's experiences, and your coaching programs can actually have a even
Lindsey Anderson:bigger impact because of the introduction.
Lindsey Anderson:Of a community.
Lindsey Anderson:And finally, accessibility group coaching can often be offered at a lower price
Lindsey Anderson:point per individual, making your services more accessible to a larger audience.
Lindsey Anderson:Hence, Expanding your impact.
Lindsey Anderson:Now, how do we do the impact phase?
Lindsey Anderson:What are the main things we need to focus on when talking about the impact phase?
Lindsey Anderson:Well, first of all, most of all The impact phase is all about dependable systems.
Lindsey Anderson:Dependable systems are crucial for any business aiming to increase its impact.
Lindsey Anderson:These systems, which could include everything from the sales processes
Lindsey Anderson:to customer service protocols, will ensure your consistency and reliability
Lindsey Anderson:in delivering your coaching services.
Lindsey Anderson:When you have dependable systems, it takes you out of the business, and the business
Lindsey Anderson:runs on autopilot and becomes consistent.
Lindsey Anderson:And your prospects and those individuals that coach with you will
Lindsey Anderson:start seeing a systematic results.
Lindsey Anderson:Having these dependable results is very important in this phase, and these
Lindsey Anderson:results will validate the effectiveness of your business, of the transformation
Lindsey Anderson:you offer of your methodology, and will further enhance your credibility making
Lindsey Anderson:marketing and sales that much easier.
Lindsey Anderson:When you have dependable results, because you have everybody in a system,
Lindsey Anderson:you'll be able to provide evidence of your impact and that will become a key
Lindsey Anderson:selling point for attracting new clients.
Lindsey Anderson:It becomes so much easier once you're in a system.
Lindsey Anderson:Let's talk now about the freedom phase.
Lindsey Anderson:As I mentioned, the freedom phase is where all your internet dreams are made.
Lindsey Anderson:You have money coming in because you've set up reliable systems in the impact
Lindsey Anderson:phase, you have the time freedom.
Lindsey Anderson:you come in in the morning and your systems have done much of the work for
Lindsey Anderson:you, and this is the freedom phase.
Lindsey Anderson:This phase will enable you to generate income without the need for constant
Lindsey Anderson:active marketing or coaching efforts.
Lindsey Anderson:It's where systems automation and delegation come into play Now.
Lindsey Anderson:How do we achieve the freedom phase?
Lindsey Anderson:It's a great question, and the answer is you are gonna continue
Lindsey Anderson:your focus on effective systems and automation, and you are also going to
Lindsey Anderson:introduce a competent team and start leveraging passive income strategies.
Lindsey Anderson:So for example, a system you might develop a sales funnel That nurtures
Lindsey Anderson:leads automatically taking them from a lower cost offer into your group coaching
Lindsey Anderson:program into one-on-one coaching.
Lindsey Anderson:If you are following the millionaire maker self filling coaching funnel
Lindsey Anderson:that we covered in episode one, you will see that in the freedom phase,
Lindsey Anderson:this is where you now can have lowcost offers and you can understand how
Lindsey Anderson:a Lowcost offer because buyers or listeners And it will very naturally
Lindsey Anderson:lead to many people reaching out to you for high ticket, one-on-one coaching.
Lindsey Anderson:, implementing This system into your coaching program is amazing because
Lindsey Anderson:you have all of the information that you need to actually make this work.
Lindsey Anderson:Automation also becomes a huge factor here where you know what emails to send
Lindsey Anderson:out in order to nurture these people.
Lindsey Anderson:You know how to bring them in and what.
Lindsey Anderson:Objections and problems and how to message and position yourself so that
Lindsey Anderson:people will inquire about your services.
Lindsey Anderson:in order to achieve impact, will be developing a team.
Lindsey Anderson:You're only as good as your team.
Lindsey Anderson:And this is so true in the coaching industry.
Lindsey Anderson:A competent, reliable team will take over many of the day-to-day
Lindsey Anderson:operations of your business.
Lindsey Anderson:That will reduce your workload and allow the company to function
Lindsey Anderson:without your constant oversight.
Lindsey Anderson:I remember when I realized and was so grateful for my freedom phase.
Lindsey Anderson:I was called out of town for four weeks suddenly, and I knew
Lindsey Anderson:because I had built the Millionaire Maker funnel from the bottom up.
Lindsey Anderson:I had appropriate systems.
Lindsey Anderson:I had the team I was able to leave four weeks, and when I came back, My business
Lindsey Anderson:was running just as if I had never left.
Lindsey Anderson:Now remember this about developing a competent team.
Lindsey Anderson:You wanna make sure you hire the right people and train them
Lindsey Anderson:adequately and really be looking at being a leader in your company.
Lindsey Anderson:Develop a culture where your team feel motivated and
Lindsey Anderson:empowered to do their best work.
Lindsey Anderson:When you do this and you view every single team member as
Lindsey Anderson:an asset, you are continually.
Lindsey Anderson:Able to amplify what you and your coaching business are able to achieve.
Lindsey Anderson:Also, in this phase, you're gonna be able to leverage passive income
Lindsey Anderson:strategies such as selling courses, low cost courses on autopilot.
Lindsey Anderson:You'll be able to wake up or go on vacation and see money being
Lindsey Anderson:deposited into your bank account without you having to Lift a finger.
Lindsey Anderson:So once you get yourself in the revenue phase, then the impact
Lindsey Anderson:phase freedom is awaiting, which leaves us with the legacy phase.
Lindsey Anderson:Now the legacy phase of your business is the stage where you as a leader
Lindsey Anderson:start to think about the long-term impact and continuity of your business.
Lindsey Anderson:You have systems that allow the business to run on autopilot.
Lindsey Anderson:You can count on your cash flow and you can start thinking about bigger,
Lindsey Anderson:more important questions like, what will my business legacy be?
Lindsey Anderson:Can I continue to create a sustainable and lasting influence that goes
Lindsey Anderson:beyond my involvement in the company?
Lindsey Anderson:And how do I take what I've built in this company and create charity or ensure the
Lindsey Anderson:company's values and culture continue to endure even if you aren't taking an
Lindsey Anderson:active role in your coaching business?
Lindsey Anderson:Now, the legacy phase can manifest in many, many ways depending
Lindsey Anderson:on the nature of your business, the goals you have as a coach.
Lindsey Anderson:It could involve creating a family business passed down through
Lindsey Anderson:generations, establishing a trust or a foundation, or instilling a
Lindsey Anderson:corporate culture that carries.
Lindsey Anderson:Your vision forward.
Lindsey Anderson:There are a lot of options here in the legacy phase, and if you build your
Lindsey Anderson:business from the ground up following these phases, one at a time, you will
Lindsey Anderson:be able to create an asset that will last long After you're done coaching,
Lindsey Anderson:you'll be able to have a business an effect on the world and people around
Lindsey Anderson:you that will leave a lasting impact.
Lindsey Anderson:what this would look like for you is best through this example, Eliza.
Lindsey Anderson:Now Eliza, she was a leadership coach When she came to me, she had
Lindsey Anderson:a strong focus on the revenue phase.
Lindsey Anderson:She was ready to launch her business.
Lindsey Anderson:She was working in corporate America and was ready to leave her HR job
Lindsey Anderson:and hop into her coaching business.
Lindsey Anderson:But she's in a real kind of a situation here because she has to do this
Lindsey Anderson:correctly because of the four ohk and the stability and the money that
Lindsey Anderson:her her HR job was affording her.
Lindsey Anderson:Now, she.
Lindsey Anderson:Signed up with me so that she could get the shortcut.
Lindsey Anderson:She didn't have the luxury of making mistakes.
Lindsey Anderson:She knew what she wanted and she was ready to build it and understood the power of
Lindsey Anderson:having someone with a higher level of perspective and experience in her life
Lindsey Anderson:would be able to shortcut her results.
Lindsey Anderson:So, Our work together, of course, began with one-on-one coaching.
Lindsey Anderson:I helped her develop a strategy for obtaining and getting
Lindsey Anderson:one-on-one coaching students.
Lindsey Anderson:We priced her packages to attract the right clients while focusing
Lindsey Anderson:on profitability to help her get out of her full-time job.
Lindsey Anderson:Her dedication to building a solid revenue stream allowed her to hire a
Lindsey Anderson:small team, invest in marketing, and continually grow her client base Now.
Lindsey Anderson:Once she was consistently generating a healthy income that she could actually
Lindsey Anderson:depend on, and she knew if she was out of income or needed more clients, she
Lindsey Anderson:actually had a system and a strategy that would attract more clients to her.
Lindsey Anderson:She moved into the impact phase here.
Lindsey Anderson:I helped her develop group coaching programs And online courses that
Lindsey Anderson:enabled her to reach more people while maintaining her revenue growth.
Lindsey Anderson:We also took her from a one-on-one coaching model to group coaching,
Lindsey Anderson:which really allowed her to leverage her time and money.
Lindsey Anderson:As her business continued to grow, Eliza finally reached the freedom phase.
Lindsey Anderson:She was able to quit her full-time job.
Lindsey Anderson:She had systems and a capable team in place that allowed her business
Lindsey Anderson:to operate effectively, even without her constant involvement.
Lindsey Anderson:So now she's.
Lindsey Anderson:Not even working in corporate America and her coaching business
Lindsey Anderson:is running on autopilot because she has invested in the revenue phase
Lindsey Anderson:and the impact phase, and now Eliza shows up to her life and her business
Lindsey Anderson:doing exactly what she wants to do.
Lindsey Anderson:She started introducing passive income streams such as pre-recorded
Lindsey Anderson:online courses, mini courses.
Lindsey Anderson:eBooks.
Lindsey Anderson:This gave her even more time and flexibility to focus on strategic
Lindsey Anderson:growth and other personal projects.
Lindsey Anderson:She has a lot of personal projects.
Lindsey Anderson:Now she's in the process of looking at the legacy phase.
Lindsey Anderson:What does she want the long-term impact of her business to be?
Lindsey Anderson:How much does she wanna be involved?
Lindsey Anderson:Everything is working on autopilot, so she has a lot of freedom to really decide
Lindsey Anderson:what she wants her business to become.
Lindsey Anderson:Now, Eliza's story is an excellent example of a business that effectively
Lindsey Anderson:navigated all the growth phases.
Lindsey Anderson:This took her over the course of a couple of years working with me, but she.
Lindsey Anderson:Started with a strong focus on revenue, we expanded her impact and then we
Lindsey Anderson:achieved operational freedom, and now she's considering her long-term legacy.
Lindsey Anderson:This strategic and balanced approach focusing on the right things.
Lindsey Anderson:Ensured that she knew exactly what was going to be coming up in her
Lindsey Anderson:business and achieve these results as quickly as possible with the
Lindsey Anderson:least amount of stress as possible.
Lindsey Anderson:Let's talk about action steps Okay.
Lindsey Anderson:First of all, let's talk about how to identify what you currently need to be
Lindsey Anderson:focused on, if you're looking at your bank account and there's not enough
Lindsey Anderson:money there, and you're constantly wondering how you're going to make more
Lindsey Anderson:money in this business, it is essential that you focus on generating sales and
Lindsey Anderson:attracting new clients and ensuring your business' financial viability.
Lindsey Anderson:You only wanna be concerned about cash flow.
Lindsey Anderson:It doesn't matter how many bodies, it doesn't matter how big your audience is.
Lindsey Anderson:What you want to do is figure out how to generate sales and attract new clients.
Lindsey Anderson:Now, if you have a steady income stream and you can bring on one-on-one
Lindsey Anderson:clients, With predictability, it's time to start expanding your
Lindsey Anderson:services and reach a larger, audience and really leveraging your time.
Lindsey Anderson:That's when you can look at going into one to many coaching and starting to shift
Lindsey Anderson:scaling your operations and influence Now, if you already have systems and a team
Lindsey Anderson:and you're not involved in the day-to-day operations of your coaching business,
Lindsey Anderson:that means you're in the freedom phase and you can count on your bank account,
Lindsey Anderson:and now you really wanna implement systems and strategies that will help you.
Lindsey Anderson:Maintain sustainable growth.
Lindsey Anderson:And then finally, legacy phase.
Lindsey Anderson:If your thoughts are turning towards long-term impact of your business, and
Lindsey Anderson:the legacy you leave, you really wanna start focusing on the legacy phase.
Lindsey Anderson:So, There you have it.
Lindsey Anderson:The four phases of business growth.
Lindsey Anderson:Let's go over them one more time.
Lindsey Anderson:You got revenue, you have impact, you have freedom, and you have legacy.
Lindsey Anderson:Now, we have a few questions that were submitted for the podcast,
Lindsey Anderson:so I wanna take a quick break here and then we'll come back.
Lindsey Anderson:For some listener questions and a QA segment here on the
Lindsey Anderson:Millionaire Maker Podcast.
Lindsey Anderson:Are you ready to unlock the secrets to building a successful
Lindsey Anderson:online coaching business?
Lindsey Anderson:Become a millionaire maker.
Lindsey Anderson:Show insider by heading over to the Millionaire maker show.com/insiders.
Lindsey Anderson:By joining, you'll receive early access to each new episode so that
Lindsey Anderson:you'll be the first to learn the latest tips and strategies from top.
Lindsey Anderson:Industry experts, but that's not all.
Lindsey Anderson:As an insider, you'll also gain access to exclusive bonus content
Lindsey Anderson:and resources designed to help you implement the game-changing
Lindsey Anderson:strategies discussed in the show.
Lindsey Anderson:Imagine having the insider knowledge to attract high paying clients.
Lindsey Anderson:Grow your online presence and take your coaching business to new heights.
Lindsey Anderson:Secure your spot as an insider of The Millionaire Maker
Lindsey Anderson:Show with Lindsay Anderson.
Lindsey Anderson:Sign up now at the Millionaire Maker show.com/insiders.
Lindsey Anderson:Your coaching business will never be the same again.
Lindsey Anderson:Welcome back from that break.
Lindsey Anderson:Let's hop into some listener questions.
Lindsey Anderson:question number one.
Lindsey Anderson:It says, Hey Lindsay, I'm just starting out my coaching business.
Lindsey Anderson:What's the best way to ensure a solid stream of revenue?
Lindsey Anderson:Well, it's a great question, isn't it?
Lindsey Anderson:We've talked a lot about that today, but my answer is clear.
Lindsey Anderson:When you're first starting out, it's essential to focus on high ticket
Lindsey Anderson:coaching, one-on-one coaching, so that as you're reaching out to
Lindsey Anderson:people, you can start understanding who your ideal client is.
Lindsey Anderson:You can get that experience, that will give you the confidence to take
Lindsey Anderson:your businesses to the next level.
Lindsey Anderson:So if you're focused on.
Lindsey Anderson:Instagram growth or YouTube growth or creating this or that, and you
Lindsey Anderson:are not focused on how do I get more individuals on the phone?
Lindsey Anderson:How do I get more one-on-one clients, and how do I really start developing a
Lindsey Anderson:deeper understanding of my clientele?
Lindsey Anderson:Stop everything else and figure out.
Lindsey Anderson:How to do just that?
Lindsey Anderson:Focus on revenue.
Lindsey Anderson:Focus on generating money and energy and momentum in your business, and gaining
Lindsey Anderson:that understanding and doing this will allow you to grow your business with ease.
Lindsey Anderson:Next question.
Lindsey Anderson:This one's from Matt.
Lindsey Anderson:Hey Lindsay.
Lindsey Anderson:I've been running my business for a couple of years and I'm doing well revenue wise.
Lindsey Anderson:I have a full one-on-one client roster.
Lindsey Anderson:What are the next steps?
Lindsey Anderson:I don't think my clientele would ever be interested in joining
Lindsey Anderson:a group coaching program.
Lindsey Anderson:What are my other options?
Lindsey Anderson:Well, I hear what you're saying and I hear this very frequently.
Lindsey Anderson:I hear it in the divorce niche.
Lindsey Anderson:I hear it in the parenting niche.
Lindsey Anderson:I hear it in the HR niche.
Lindsey Anderson:I hear it in all the niches.
Lindsey Anderson:No way, Lindsay.
Lindsey Anderson:No.
Lindsey Anderson:How will my clients ever be interested in a group coaching program?
Lindsey Anderson:Now, I want you to take a step back from that.
Lindsey Anderson:I want you to think about your belief around that.
Lindsey Anderson:Have you tried it?
Lindsey Anderson:Have you considered it?
Lindsey Anderson:Have you asked?
Lindsey Anderson:Because truly I have yet to see a niche in the coaching industry that
Lindsey Anderson:would not allow a huge benefit.
Lindsey Anderson:Forum, a group coaching program, a group coaching program will allow you
Lindsey Anderson:to leverage your time and your money.
Lindsey Anderson:A group coaching program can bring more amazing results to your clients.
Lindsey Anderson:A group coaching program can really be the foundation for recurring
Lindsey Anderson:income in your coaching business.
Lindsey Anderson:So I would say to you, start considering what that might look like
Lindsey Anderson:to do a one to many coaching program.
Lindsey Anderson:Start a beta.
Lindsey Anderson:Group coaching program and see how that goes.
Lindsey Anderson:Because truly when we're talking about the world of coaching, going from
Lindsey Anderson:one-on-one to one to many can be.
Lindsey Anderson:A very significant step to affording you a coaching business that
Lindsey Anderson:gives you more time, more money, more freedom, and more impact.
Lindsey Anderson:Now, you could also look at how you could leverage tech to automate
Lindsey Anderson:and streamline your operations.
Lindsey Anderson:This includes when you're talking to these one-on-one coaching clients.
Lindsey Anderson:take a note, write this down, If you end up explaining a principle more than once,
Lindsey Anderson:if you find yourself repeating, saying the same thing to your clients all the time,
Lindsey Anderson:take my advice and put that on video.
Lindsey Anderson:And then before your next one-on-one coaching session, send them the
Lindsey Anderson:video and say, Hey, watch this video.
Lindsey Anderson:And when you come to the one-on-one coaching session, instead of you taking.
Lindsey Anderson:All of that time teaching this individual your methodology, they will show up
Lindsey Anderson:to the coaching call and that can become a straight integration call.
Lindsey Anderson:This can also be one of the very first steps to leveraging yourself and
Lindsey Anderson:leveraging your message to help more people while not working more hours.
Lindsey Anderson:So let's sum this up.
Lindsey Anderson:Today in the Millionaire Maker Podcast, we covered the four
Lindsey Anderson:phases of business growth.
Lindsey Anderson:You always wanna start with a strong focus on revenue generation.
Lindsey Anderson:In the early stages, we'll create the financial stability necessary for
Lindsey Anderson:growth, expansion, and future impact.
Lindsey Anderson:Next, you can go with an impact phase.
Lindsey Anderson:After you know that you can create one-on-one clients and you can
Lindsey Anderson:generate income in your business when you want to, you can then shift
Lindsey Anderson:your focus to broadening your impact.
Lindsey Anderson:You can expand your services and your reach.
Lindsey Anderson:That will lead to even more revenue.
Lindsey Anderson:Next freedom phase automation team, you'll be able to step out of your
Lindsey Anderson:coaching business and you can be backed up by effective systems automation
Lindsey Anderson:and developing a competent team.
Lindsey Anderson:Finally, legacy.
Lindsey Anderson:What are you gonna be doing with your business when you are no
Lindsey Anderson:longer playing a day-to-day role?
Lindsey Anderson:So as you approach each phase, you wanna carefully plan and execute it.
Lindsey Anderson:Have a plan for each phase.
Lindsey Anderson:Find a coach that has been there before.
Lindsey Anderson:Follow someone else's plan.
Lindsey Anderson:You cannot be a coach and a business coach at the same time.
Lindsey Anderson:You can't understand the nuances of what it takes to build a highly
Lindsey Anderson:impactful, and profitable and successful coaching business.
Lindsey Anderson:On your I have 20 years of experience.
Lindsey Anderson:Trust me, you do not want to go down the roads.
Lindsey Anderson:I have been down.
Lindsey Anderson:people like me and coaches in your life will give you the shortcuts to actually
Lindsey Anderson:achieve the business of your dreams.
Lindsey Anderson:So I encourage you today, take action.
Lindsey Anderson:look at your phases.
Lindsey Anderson:What are you focused on?
Lindsey Anderson:What are you resisting being focused on?
Lindsey Anderson:Perhaps the answer is there.
Lindsey Anderson:So that's it for today's episode of the Millionaire Maker Show.
Lindsey Anderson:If you enjoy today's episode and you don't wanna miss the next one, make sure to
Lindsey Anderson:hit the subscribe button on your podcast platform of choice and stay updated with
Lindsey Anderson:the latest on the Millionaire Maker Show.
Lindsey Anderson:I am your host, Lindsay Anderson, and cheers to you and your success.
