I help Coaches like you establish their business online. You can take advantage of technology, and use it as a catalyst to grow your coaching business in a matter of weeks; not months, not years. It’s easier than you think.
Sai Blackbyrn: Strategy has become a difficult word to swallow. Ask 100 executives nowadays what strategy is and you will get at least 100 different answers. I wish I was joking.
It seems if you want clarity you need to rely on business school academics or overpriced consultants more inclined in billing you more hours than solving your problem effectively.
What Is Business Strategy?
Sai Blackbyrn: Forget about SWOT, SOSTAC™, The Five Forces of Porter or SMART. Strategy is about action.
More often than not it is what not to do rather than what to do. In a sea of endless opportunities there is value in focusing resources, time and energies. It is much easier to sail a boat when everyone rows in the same direction.
“Coachesstart up wanting to get their message out there fast: and this can bedangerous.”
A well-thought and executed strategy drives commercial success. A weak or misunderstood one will likely cause operations to fail, and in the worst of scenarios, lead a company to go out of business.
Why Is Developing Good Strategy Important?
Sai Blackbyrn: Good strategy shines a light on those areas in your business where you can be more successful, as well as where you are especially vulnerable.
“If it’snot disruptiveit will seeminterruptive”
I have been blessed with working with over a thousand coaching companies all over the world, and this is where most fail.
Coaches start up intent in getting their message out there as quick as possible: and this can be dangerous. Without a good strategy, coaches waste their limited resources pursuing multiple ends and failing to get the momentum necessary in any of them to see results.
What Mistakes Should You Avoid In Strategy?
Sai Blackbyrn: Strategy has become reactive, which defeats its purpose.
The most successful, market leading companies today such as Microsoft, Apple, Facebook and even Airbnb all rely on anticipating what their clients (and tomorrow’s clients) will like to buy.
How many iPod buyers asked for a new way to listen, share and buy music on the go before Apple did it? Don’t expect your clients to buy whatever you put in front of them.
If it is not disruptive it will seem interruptive. And never is this more true than with the prehistoric one-on-one coaching sessions. People expect more out of coaches nowadays.
5 Strategies For Good Strategy
Sai Blackbyrn: There are five things you need to get right.
- Understand What Constitutes Success
Sai Blackbyrn: What is the outcome? Make it clear to yourself first and to your organisation. If I can go to my 6 year old brother (yes, you heard right) and explain what I want to do and he can understand, then I know my strategy is clear.
- Getting The Measurements Right
Sai Blackbyrn: If you can’t measure it, you can’t manage it. What tracking options do you have to make sure you are in line? Remember, keep reviewing your progress at least twice a week (Monday and Friday for me)
- Managing Performance Correctly
Sai Blackbyrn: If you are a one man band like the majority of business owners and coaches, then you need to manage yourself as if you were managing a team. What perks or celebrations will you give to yourself when you reach different milestones? This games your work and studies have shown it is greatly effective.
- Seek Leverage
Sai Blackbyrn: If in doubt, leverage it out. Who can you leverage tasks out to? A VA, PA or knowledgeable friend? Time is the one resource we never get more of so don’t waste it in the name of being busy. Be effective, not busy and that comes by leveraging tasks other people can do for you so you can concentrate on the areas you shine at.
- Focus on Win-Win
Sai Blackbyrn: If a strategy only serves you and no one else, its not a strategy, its an order. People move away from people who order others around, mostly because it shows how little knowledge of the effort necessary to get things done do these people demonstrate. True success is win-win. Who else will be benefited by your strategy? Are you communicating it effectively?