Maybe it's just in my circles, but I really feel like coaching has taken over as the new home-based business strategy.
Years ago everyone was jumping into becoming a consultant or sales rep for companies like Tupperware, arbonne and kaszazz.
These days, it's everyone becoming coaches. (Ok reading that, I can totally see it's probably my circles... and not world wide).
Whether you are signing up with a company to promote their products, or considering launching your own business (coaching or otherwise) there are 5 key pillars you MUST consider as you go on this venture.
1. Finances - tax, income, expenses, and returns on investment. Most businesses take a while to get off the ground and I invite you to consider how you will manage this start-up time where generally more money goes out than comes in.
2. Regulations. I hear it all the time - coaching is an unregulated industry, which is accurate, and yet is still shaped by other regulations. Refund policies for example. Therapy or un-registered health practitioner guidelines. Financial advisory guidelines and so many more.
3. Ability to deliver and demand. If you are creating a product, a service, you must have demonstrated results and established there is a need in the market. (There are 9,900+ planners sitting in my garage because I didn't do enough market research before creating the product, it felt good to me, but few people agreed with me).
4. Your ability to Market. The best known product, service will NOT sell itself. Despite what every passionate leader in direct sales tells you. You must have connections, a list, meet people and communicate what you can offer to create a successful business.
5. Managing YOU. The biggest hurdle most business owners encounter in start-up, is themselves. Unless you are used to managing your day, setting yourself up for success, following through when things are tough, being self-directed, finding a way, and navigating losses and rejection on a far more regular basis than the wins, this is the FIRST piece I suggest you address.
A daily routine that takes care of your needs, ensures what is required is completed, goes above and beyond into the realm of outstanding and most of all a willingness to give value beyond the scope of your friends and family will set you up to test if you can handle a business.
This of course is the focus of the DailyFROG group. A place for home based-business owners to share their offers, give value to each other, while building the muscle of daily intention and focusing on what will create a life they love while growing their muscles for running a business.
If you are an aspiring business owner, or in business and want to grow even more, this is the place for you.
Join us here: https://www.facebook.com/groups/DailyFROG/