How to Approach Scaling a Service Business
One of our community members is a coach and wants to grow her business.
But she’s struggling to decide which direction she wants to find growth.
Her options, as she perceived them, are to:
The second option is interesting because she’s part of a community of coaches who want to improve their sales and retain clients.
Anyhow, she recently reviewed one of her colleague’s funnel pages and shared feedback.
Her feedback was so thorough that she was worried her colleague would take it personally and push back against her “tear down”.
But that’s not what happened.
Instead, her friend asked if she could hire her!
However, she felt that she needed to put her own offer out there, so she is still working on her own coaching program apart from her funnel “talent”.
She charges a lot for her funnel services, and she knew that her colleague wouldn’t be able to afford what she’s charging.
So when she asked around for help on how to deal with this, a friend of hers suggested that she partner with other coaches to create a model where she builds their funnels, ads, and backend to help promote their offers.
Sounds great, right? So what’s the problem?
These partnerships would be an opportunity cost against growing her coaching business.
Here was my advice for her:
I asked her if she would prefer to have her own program or to be known as a “funnel doctor” for coaches with online courses.
At first, she thought of focusing only on her own program. But I pointed out that the “funnel doctor” model is more scalable than a coaching business.
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There is a limit to how many coaching clients she could support, but being a funnel doctor would open up bigger numbers of coaches to serve, and therefore provide more revenue opportunities.
I suggested charging more for her coaching services while she builds her “funnel doctor for coaches” business. I strongly advised against giving out discounts because those take away from building her business.
I also advised her to be careful about chasing short-term distractions disguised as “opportunities”, or even short-term “wins”, that ultimately would prevent her from reaching her long-term goals.
On top of working on her own program, she is now considering partnering with coaches to publish their programs and run their funnels.
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