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4 Step Economic Stimulus Plan for Life Coaches (& Other Small Businesses)

So there’s more talk of economic stimulus for our sluggish U.S. economy. If this is going to be like the previous stimulus then we can guess it’s not going to be much of a help, right?

As a Life Coach, a Business Coach, or a Holistic Healer you probably have been feeling the affects of the slow economy in the U.S. (and globally) since way back in 2008. Hopefully you’ve found a way to kick-start your life coaching practice and climb out of your own sluggish economy.

But maybe not. I’ve spoken and worked with dozens of Life Coaches and Business Coaches the past few years who are struggling to find clients. They’ve seen a downturn in their business just like the one we’re seeing in whole economy.

Many of these Life Coaches have worked really hard just to find enough clients to say in business. Others, well, they haven’t stayed in business. One of my favorite clients over the past few years said it was ‘all just too overwhelming and stressful’ to keep her business coaching practice open. So she went back into the corporate sector – for less pay. Even with my help she just didn’t have the stamina to rebuild her business.

As sad as that is there’s still tons of Life Coaches and Business Coaches – maybe like you – who are out there trying to work their own economic stimulus.

Well, you can create your own, 4-step economic stimulus plan. And it doesn’t have to be difficult, complex or cost you a bunch:

  1. Stop & Think
  2. Plan Your Work
  3. Work Your Plan
  4. Make Sure Your Plan Is Working

Each step is really important.

First, stop what you’re doing and think. Think about where you are and where you want to get to. Be honest with yourself about the current state of your business. If you don’t have enough life coaching clients, be honest. If you have no idea how to get more clients – get help.

Second, plan your work. Doesn’t have to be a big, complex plan. Keep it simple. Highway maps are usually pretty simple. And they let you see the route to take to travel from where you are to where you want to go. Your plan should do the same thing. And it should include actionable steps along the way. Just remember, without a map you’re probably going to get lost.

Third, work your plan. Now that you have your map, use it. Begin traveling. You can’t drive from Chicago to Denver without doing some things. You have to fuel your car, get in, turn it on and drive. Same with your business. Do the items that you plan to do. And just like with traveling, expect construction and detours and slow downs along the way. Just keep working your plan.

Finally, make sure your plan is working. How do you know it’s working? Measure! Pull out your map and our itinerary and see how you’re doing. Are you as far as you thought you’d get? Are you doing some things that aren’t helping you get to where you want to go? What’s working? What’s not? And then do the obvious – more of what’s working…less of what’s not.

And so there you go. You can keep it really simple and build your life coaching business. Just don’t take too many detours along the way. And if you’re stuck, again, get help.

You can be successful as a life coach or business coach. There’s nothing stopping you from having all the clients you need. You just need your map to get you going.

(note: image from Cayusa on Flickr, some rights reserved)

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Comments

  1. Brilliant post and brilliant to compare it to a highway map, because that really what it’s all about (in this case and many other aspects in life) – Where am I now, where do I want go and how do I get there. When you can put a clear definition on those three points, you’ve a plan and that is what I belive the first step towards succes with any business.

    When the plan is set, follow it and analyse, analyse and then analyse some more along the way while you’re working your plan. Only when your plan has been tested by doing can you truely get an idea of what is working and what is not and you put it very clear and simple – more of what works and less of what’s not.

    Analysing and reflecting on the things we do should never stop both in business and life :-)

  2. Nice post – it reminded me of the Shewhart Cycle (Plan, Do, Check, and Act) popularized by Edward Deming. I’m interested in your diagnosis about struggling. I infer from your post that it’s probably due to lack of focus. Are you finding that coaches are too focused or not focused enough?

  3. Dawud Miracle says:

    @Caleb

    My experience is that coaches tend to be focused in areas that aren’t necessarily going to help them get clients. There’s just too much ‘garbage’ out there enticing people to take programs and buy products that aren’t really going to help them get results. So many times coaches need more handholding and one-on-one help then they’ll get from these programs.

  4. howgetmoneyfast.blogspot.com says:

    That’s pretty cool – thanks for this! I guess that could be a pretty darn handy thing to have. You never know when you might want to target something local.

  5. These are great tips, Dawud.
    The effects of the crisis, of course, ripple through all segments of the chain. Our company has found that our clients are in the same situation, and our vendors have upped the amount of calls to us. Everyone has a plan!

  6. I agree – there are many coaches these days who are struggling. I see them when I attend my local ICF meetings. Your advice is excellent and should be followed to the T. I’m glad I’m already working my plan. I am unemployable at this point :)

  7. Amazing post! As always. Thanks for always adding to what I know and inspiring me to be a better person. You truly are a great coach..

  8. unique office supplies says:

    My friend is a life coach. Frankly i heard the term just a year ago for the first time. She keeps posting these wonderful thought-provoking posts on Facebook. She will surely find this post very motivating. Sharing this with her-thanks!

  9. Simple but structured plan that every business owner can follow – not just life coaches. I think sometimes we make things too complicated in our lives and business and stopping, thinking, focussing and sticking to a plan is a good move. Good coaching!

  10. As a life coach I have definitely been feeling the economic downturn. Although, I do follow what I preach and have ideas about how to turn my business around and learning SEO is one of them. Thanks for your words. They’re what I needed to re-hear/read.

  11. I really like your 4-step formula. It really get’s my mind in order.
    Thank you so much for this inspiration.

  12. Thank you for this simple but effective 4-step plan! The point is not to remain in the first two steps (thinking & planning) and move to the last two steps (doing) :)

  13. Well this kind of information is really worth searching for. The 4 step stimulus plan is really beneficial for all those life coaches and business coaches out there. It’s good to have these kinds of articles around to keep the information flow steady. Helping those who really can make things right in the future, good work!

  14. really awesome article man.. now a day making money by online way is too difficult and you are provide a good hint to earn money online way..
    its really great post… keep it up

  15. Great stuff! The 4-step plan should be an inspiration to everybody. Simple is good, especially when you’re stressed out which is why I really like this post.

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