How to build a freedom based coaching business
“Freedom” seems to be the buzz word lately-especially after the pandemic. The idea of being your own boss, being able to make decisions without having to check with a higher authority, and having the ability to fully take control over the direction of your life and income is what freedom based businesses are all about.
In this blog we'll explore how you can create a business that truly serves the people you want to serve, without feeling like you're trapped in a part-time job or on someone else's hierarchy. We'll go into detail about what freedom based coaching is and why it's different than other types of coaching professions out there right now.
A freedom based coaching business has three key characteristics:
It's self-funded - You'll have to rely less on income from client work as opposed to an hourly rate structure as this can lead to burnout due to lack of control over how much time you spend with each individual client. Instead, you could be paid by the hour but still have more control over how many hours per week/month/year that you commit yourself too which leads onto...
It's scalable - If one form of income doesn't work out then there are other ways that can be tried until something does pay off (e.g., selling products online). This gives more flexibility in terms of workloads and allows for greater focus in terms of what needs doing at any given moment without worrying about getting paid enough money each month!
It aligns with your values - Not only will this help keep stress levels down but also allow people working alongside who share similar values which helps build trust between colleagues."
Build a business that truly serves the people you want to serve.
The first thing to build a business around is the people you want to serve. If you aren't passionate about the niche and it isn't something that you can help with, it's not going to work. When you find a niche that is either 1) underserved or 2) needs help in ways that are unique from what everyone else is doing, your business will grow organically and at an accelerated rate. You can always expand into other niches later if this starts to feel limiting or boring, so don't worry too much about choosing the right one right away!
For example: I coach people who want more freedom in their lives and sustainability in their business (and thus they hire me as a coach). This doesn't mean they need my help because they're broke or anything like that—it means they want more freedom because they feel trapped by their responsibilities and never getting ahead financially no matter how hard they work at their job(s). So when someone hires me as a coach, I spend time helping them understand how lack of financial control could be preventing them from having more free time with family members or doing activities that make them happy outside of work hours instead of sitting on social media all day long (which also happens sometimes).
Keep your business intimate and connected.
You can build a business that is intimate and connected. You can build one that is scalable. You can also build one that is profitable, sustainable and flexible.
But why would you want to do all of these things at once? Because they create an environment where your clients are more likely to be successful in their own lives, which means you’re more likely to have clients for life who stick around even when times get tough—and believe me: there will be some tough times!
Inside of The ELEVATE Method, my coaching certification program, I not only support my clients through learning how to build the right foundation for the business they desire to have. We also have an online accountability and support group and weekly calls. This ensure’s that when my clients join they are not being handed some certification just for investing, but instead they are given an insane amount of support and tools to be able to build a profitable, impactful and sustainable business from their passion.
Communities are important to people. People want to be around others who have similar goals and interests. Research says that you are an average of the top 5 people you spend time with. Surrounding yourself with people you can relate to and that hold you accountable to your vision is priceless. This is the value and impact of community.
Create a process that makes it easy to do what you love most, over and over again.
Make your process repeatable, easy to scale, and sustainable. Your process should be so easy that you can do it over and over again. You need to make sure there are no gaps in your system where you can get stuck or go into overwhelm, which means you have to create a model that is sustainable for yourself. This will take some time but it’s important for you to think about how you want your business to run before opening up shop.
I actually teach more about this inside of The Passive Profits Workshop.
I realize that if we try to show up for every dollar we earn we will always be on the brink of burnout and I do not want that for you.
How to create sustainability within your business with passive income
If you’re looking to create a freedom-based business, then passive income is one of the ways in which you can achieve this. Passive income is income that is not dependent on your time or effort. For example, if you have a rental property and tenants pay rent monthly, this is an example of passive income because it does not depend on your time or effort for it to earn money for you each month.
Passive Income can be created in many ways such as:
Writing Books or eBooks
Creating online courses
Creating a business that generates recurring revenue - like coaching, consulting etc.
If you desire to learn how to create passive income from your passion join us in my passive profits workshop here: https://www.nicolyawilliams.com/passive-profits-workshop
Make sure your process is helping you get clients and leads.
This is the most important thing to do. If you don't have a process that's helping you get clients, leads and the clients that you want, then it's time to rethink your business strategy. Make sure your process is helping you get clients and leads in a way that aligns with your values and makes you happy.
It's also important to have a process that helps you do what makes YOU happy! I know this sounds obvious but sometimes we can get so wrapped up in doing what our mentors do or following other people's advice blindly without considering whether it will make us happy personally (or financially). It could be something as simple as not enjoying networking events but being told by someone else who does enjoy them that "this is what works."
Find your method
As a coach you can create your very own approach to your topic of choice. Once you learn the process for supporting your clients make it replicable. This is important because it shows the valye of your proven system and it simplifies things for you on the back end. You can also pur to
Conclusion
Are you looking for ways to create a freedom based business? The ability to work from anywhere, with the flexibility of hours and location? I have just the thing for you. Inside of The ELEVATE Method Coaching Certification Program we teach you how to build the right foundation for your freedom based business which allows you to build a scalable and sustainable business from your passion. Check it out here!
