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.
2 thoughts on “The Pie Strategy”
Hi Scott, the great thing is that it is so easy these days to create these products and courses online now. All the knowledge and tools are readily available for anyone willing to put in some time and effort into it! -Eric
You’re so right Eric! If you have the chance check mine out and let me know what you think! https://www.udemy.com/selfconfidence/
Appreciate the comment!