When I look at a pie, I imagine cutting it into pieces and devouring it slice by slice…
A whole pie is actually a great illustration for looking at your business. Let me explain.
Ever since I started my coaching business, I thought coaching was what I was offering. It was, and still is, but it’s just a piece of the pie – not the entire pie itself.
If I rely on coaching as my only source of income, I’m dead. Even the busiest coaches don’t dream of coaching people all day. They may make a lot of money, but it’s tiring and dependent on your time as the coach being involved.
The “pie strategy” has changed the way I think of my business…
Instead of putting “all my eggs in one basket,” I’ve decided that coaching is one of many things I offer.
I also do training, recruiting, events and I’m working on online marketing and online courses.
By following different lifestyle entrepreneurs, the key insight that hit me was: time ≠ money.
That means you shouldn’t be dependent on making money solely when you’re involved with it.
I offer a service (coaching), but people don’t really want to work with me. What they really want is the knowledge I can impart so they can apply it to their own lives/business.
That being said, online courses make a lot of sense. People can purchase them when they want. It’s cheaper than coaching. I can create them on my own time and I don’t have to be a part of it once it’s live. An in-person event may be overall more engaging, but with the convenience of watching it in your own home, it’s a value that’s hard to beat.
So think about ways to “take yourself out of your business.” Almost like putting it on auto-pilot.
Each new stream of income is like another piece to the pie. Mmm…that tastes good.