Core Coaching Business Academy
Business Foundations — Part 2: The What
In a previous post we discussed the implications of starting a business or moving from offline to online without having a solid business plan. In part 2 of business foundations we discuss what results you are delivering to your clients and customers and how not considering that can be a detriment to your business success.
Business success is not something that happens by accident. Success is the result of a well thought out strategy that you work to implement. Granted, you will often change the plan and the strategy. However, there is no map to success to change if you don’t take the time to implement your business plan in the first place.
The second part of the business planning foundations that we are going to talk about today is WHAT results do you provide? In some circles you will hear this called “your secret sauce” or “your signature system.” Yet, not matter what you call it, the fact is that no one is going to buy a service or a product that doesn’t provide them some sort of result or outcome.
This might feel like a weird way of defining your products. Perhaps you have been told to create the products you like or that you want. Maybe you think your product is your process. Maybe you think your product is “coaching” or “consulting.” But … think about that for a moment. Do you think anyone just buys “coaching” or “consulting”? If they did, then why the heck do we have statements of work or proposals or guarantees or contracts?
The reason we have all these legal agreements is that our clients want to be told WHAT they are going to get. Admittedly this is a switch from what others might have told you or taught you. You need to tell clients what they are getting.
The next question we often hear then is … WHAT result do they want? While it might sound cheeky, the fact is the answer is simple. We can dress it up and call it Voice of the Customer (VOC) or Market Research. Yet, at the end of the day the way you find out what your customers want is by ASKING THEM. Of course, they might not have all the answers, or you might have to start the conversation with a list of the options they could choose or the outcomes that might entice them. But, if you want to ensure they want what you are willing to give, just ask them.
Then, the next question that you will be asking is well what do I charge? There are many systems out there that say “charge what you are worth” or it should always be a 90-day program at $5,500. Yet, really … shouldn’t we be charging what the result is worth? This is a great question to ask your clients. What do they feel the result is worth? How long would they be willing to invest their time in that result.
Consider tuning into the Core Coaching — RAW podcast to learn more about what we suggest you consider regarding the WHAT of your business here:
https://anchor.fm/core-coachingacademy/episodes/Business-Foundations-Part-2---The-What-el3p2d
If you found this discussion helpful, stay tuned for more business foundations where we look at the WHY and the HOW in more detail in the coming weeks.
Originally published at https://www.core-coachingacademy.com on October 15, 2020.
