Creating A Vision For Your New Business
In our coaching calls with our clients, we always start by asking them about their vision. Creating the vision for your business will help you set a strong foundation from the get-go. This vision may help you get to your vision statement, but that is not what we are referring to today. This vision is all about asking yourself the fundamental questions as you decide what the future of your business looks like.
Here are a few of the questions we present our clients with:
01. Define what you bring to market and your key offerings.
Many of our clients know whether they are a service or a product-based business, but that doesn’t always mean they know what they are bringing to the table. Being able to speak to your packages and your differentiation to what is already in market is where we want to get you. For example, if you are a coach offering 3 types of 1-on-1 packages, what is different about each of them. What are the benefits of investing in the larger package vs the smaller package. Now let’s say you have a group package as well. Well how does your customer determine which is best for them?
02. If you were to look back on your business in 5 years, what would you say you accomplished?
This is our take on the “where do you want to be in 5 years”, because honestly who TRULY understands that. By adjusting the phrasing, we are able to get clients to think critically about what their version of accomplishment is.
Let’s say that they want to have consistent $10k months. We then dig deeper to see what needs to be done to reach that target. For example, we will then look at their key offering and determine the sales they need to make per month to reach that goal. This process can go even further to see if they need to up their pricing, if they need to change their timelines, and much more.
03. What type of lifestyle do you want?
There are some entrepreneurs that want to be intertwined in the day-to-day of the business while others want the freedom to be location agnostic and only oversee the business from a high-level.
Based on your goals, we will look at the answers provided in questions 1 and 2 to determine the steps that you would need to take to reach those goals. Let’s look at another example.
If you are wanting consistent $10k months and your package is priced at $500/month ($1,500 for 3-month package). You will need 20 clients to sustain this. Then we look at how much time you will need for each client, with the understanding that you want to be traveling the world working 10 hours a week. Being able to see this is a game-changer for clients to understand where they may need to make tweaks to their process or pricing, or how they roll out their products or services based on the lifestyle they want.
Need help talking through and answering these questions? Click the button below to fill out our inquiry form and schedule your free discovery call to see how we can help!
