Business coaching for a yoga practitioner based in London resulted in successfully reinventing and differentiating their business in a competitive market.
A well respected London based yoga practitioner had established a loyal following after years in business.
However the business had plateaued.
Revenue was just breaking even. Furthermore, her existing clients were not prepared to pay more for her services.
In addition, the joy of having her own business was turning into a nightmare. It was no longer the business she dreamed about having.
In short, she wanted to increase her brand value and charge more.
Importantly she wanted to have a business that could support her full time and be sustainable.
Otherwise the other choice she had was to exit.
Something had to change!
The Business Challenge
Therefore the challenge was to find a way to attract clients who would pay more. In addition, we needed to find a way to better leverage her time as an “expert” in terms of providing additional services.
Finally, we needed to find a way for her business model to be sustainable. This meant building a pipeline of leads and prospects who would eventually become clients.
The Business Coaching Solution
Business coaching sessions were established with our client via video calls. Secondly, a twelve month plan was agreed on. For instance, this included both defining her business goals and who her target market is.
Then using tools like Google Maps, we searched for similar businesses in her area of London. Next, we were then able to identfiy gaps in the market place where there were no yoga practitioners operating. Finally we prioritised these locations on socio-economic factors. This resulted us finding the ideal location for our target market with no competition! Plus, as our client’s business was mobile, we moved straight in to these new locations to offer new yoga services to clients prepared to pay more.
In addition, we also crafted additional yoga offerings. For example, free classes, group classes, international retreats and workshops were created.
Similarily, all social media was set up. Further, we also acquired new domain names for marketing campaigns. While at the same time we also created new optin pages with attractive offers supported by 24×7 email automation.
The big result for our client was to be able to go full time in her business. This was achieved within twelve months of commencing business coaching.
In addition, our client was able to have a trusted mentor to “check in” with. While at the same time, our client was able to receive advice on how to create ongoing momentum for her business.
This was achieved through our business coaching method of explaining what to do first. Next, demonstrating how to do it. After that, encouraging the client to do it her self.
Consequently, this led to a higher understanding by our client as to what success is.
In other words, giving her the confidence in her business through four specfic outcomes…
First, she has acquired new clients who pay her more.
Secondly, she has clients not just from London, but internationally.
Thirdly, she now leverages digital marketing techniques to add value to her clients.
Finally, she has embraced technology to make running her business easier.
Do You Want To Grow and Scale Your Business?
Would you like to…
Reinvent And Differentiate?
Increase Your Revenue?
Reduce Your Costs?
Future Proof Your Business?
Create Long Term Business Value?
Then speak to our experts in your confidential consultation.
Why you should start a business is a question you need to ask yourself long before the question “how to start a business”. Because most people start a business just wanting to have an income that does not rely on working for somebody else and not necessarily a deeper reason that will sustain them longer over time.
However, the businesses that really succeed are the ones that have a bigger purpose. In other words, your “Why”.
In this article, you will learn the three steps to finding out why you should start a business so that you can also be successful.
Getting Clarity On Why You Should Start A Business
Why you should start a business often occurs long after you actually start a business!
However, you might be thinking this is not how it should be done, and to some degree you are right.
Over the years sharing my story with other entrepreneurs and founders, I have discovered something quite profound – it doesn’t really matter whether the initial reason or driver for starting your business is your “why”, or it comes later!
Above all, at some point on your entrepreneurial journey, you do need to get to a place where you have a compelling “why” if you are to be in this, for the long run.
Even more, if you don’t get this, you will not succeed because there is nothing there to sustain you.
Consequently, this means your “why” needs to be visceral.
In other words, it needs to be on a level that you are deeply connected with what you are doing and the difference or contribution you are making or will be making and whenever you are speaking about your business, others can see, hear and feel your passion and conviction.
Now, of course, this means different things to different people.
For example, think about Richard Branson and Bill Gates – both very different personalities, though successful entrepreneurs.
Above all, it’s got to be you – your authentic self, and sometimes that takes a lot of deep soul searching to really find out what that is for you.
Too Busy Achieving – Forgetting About Contributing
Because there are complications in seeking your “why”, and it is these same complications that initially prevented me from reaching clarity about the reasons for why I started a business, let alone scaling it.
In other words, there are false gods that will distract you from your real path!
I am talking about are the things that you think are important or matter, but are actually only superficial.
For example, collecting job titles are misinterpreted as real achievements, when in reality, they are often influenced by our ego.
In addition, while there are things that motivate you to move away from, it is the things that pull you forward to a place you would rather be is what is essential for your entrepreneurial journey in the longer term. Because, much of this, of course, can be put down to what Tony Robbins describes as motivators of “pain & pleasure” and “the six human needs”, in which one or two of these six needs will be more dominant for you.
For instance, for me, it was initially about “significance” and “variety” that drove me to do what I do.
However, only when I started to reflect on the bigger picture, I realised it was more about “growth” and ultimately “contribution” that I was really seeking – it just took a lot of years of living to figure that one out!
Similarly, this very personal journey of mine in self-awareness of why I started a business (and why you should start a business) led me to realise that there are basically three steps to figure all this out.
The 3 Steps To Defining Why You Should Start A Business
Step 1 – What’s Your Big Dream (Vision)
The first step you need to do to define why you should start a business is to figure out what your “big dream” is. Your vision.
In other words, what I mean by this is, what is it that you can see (or visualise) yourself doing in your future? What do you want to become? What are you prepared to stand up for?
It’s a relatively simple question, but not easy to answer if that makes sense because you must give yourself time to reflect and maybe even experience a few things until you arrive at your understanding of what this is for you.
Above all, this is about you and your dream, not somebody else’s, because it is your guiding beacon to keep you focused that aspires you to move forward!
What’s your big dream?
Step 2 – What’s Your Reason For Living (Purpose)
The term “ikigai” combines two Japanese words: iki (生き) meaning “life or alive” and kai (甲斐) meaning “worth or benefit” to arrive at “a raison d’etre” – or reason for living.
It is also in the culture of Okinawa, where ikigai is thought of as “a reason to get up in the morning” – a reason to enjoy life.
Because ultimately, we want to take your “big dream” and craft it in a way where it is your Profession, your Vocation, your Passion, and your life Mission.
What’s your “philosophy of life” (your purpose)?
Step 3 – What’s The Impact You Will Make (Mission)
Last for step three, is to think about what sought of impact specifically, that you want to make.
For example, Rotary International with later support from the Bill & Melinda Gates Foundation, mission is to eliminate polio from the face of the planet. In comparison, a client of The Startup Business is working to provide affordable green energy solutions in their region, knowing that they are playing a role in reducing global carbon emissions.
What’s your mission?
These three steps work together to provide you with the necessary clarity as you start, setup, scale, and sustain your business into the future.
How I Finally Discovered Why I Should Start A Business
I said earlier that I discovered why I should start a business long after I actually started it. However, where this happened though, was even more surprising.
Flowing through China, Myanmar, Thailand, Laos, Cambodia, & Vietnam, the Mekong River is the twelfth longest river in the world.
There I was, travelling solo along this great river delta through Cambodia, hitching a ride on an old fishing boat, with the hot sun beating down on me and the noise and smell of a diesel motor running constantly in the background.
Nevertheless, I could quietly reflect on the landscape passing by. Rice paddies, banana plantations, small villages with their houses built on ten-metre-high stilts, women washing clothes, men fixing nets, children swimming.
However, at this very peaceful moment of sitting back and observing life go by, I was suddenly struck by a sense of lack of satisfaction from what I had been doing professionally.
You see, much was around achieving things, but in all reality, little fulfilling. For years I had been helping businesses become more efficient but doing this and working for somebody else which typically meant trade-offs and even at times, compromising on my personal values.
So in that moment of great clarity on the Mekong River, I thought what if I keep doing what I am really good at, but on my terms, not on somebody else’s, and focus only on the types of projects and initiatives that I am really passionate about that can make a long-lasting contribution to society… maybe even the planet?
I then wrote in my diary “I want to live and contribute, anywhere, at any time”.
While these words may not mean anything to you, they serve as the foundation, of my “why”, and what drives me today.
Why should you start a business?
Knowing Why You Should Start A Business Is Knowing The Impact You Can Make
I fundamentally believe that we all have a purpose. Above all, we are all here to make a contribution. Similary we are here to make a difference. In a positive way. It’s just that you may not know what it is right now. So if you get clarity around this, then it might just be why you should start a business.
In other words, if today you did know what your “why” is, do you think that could make a difference to where you and your business is currently at?
I believe it would, and that’s why I am so passionate about sharing these ideas because it made a huge difference for me and my business. Because knowing why you should start a business is more important than how to start a business.
You see, I believe in Learn, Lead, Legacy and being a force for good.
Because you must continue to Learn today as we are living in ever-changing and disruptive times.
However, learning and not stepping up, is not an option today. As much as this may take you out of your comfort zone, you must step up and Lead, and when you do, you lead by example.
You be the standard that others look up to
Lastly, and most importantly to us, is what we do. Because what we seek to achieve is to be sustainable and to make a difference, an impact, a Legacy.
That’s why we do what we do.
Want To Grow And Scale Your Business?
Would you like to…
Reinvent And Differentiate?
Increase Your Revenue?
Reduce Your Costs?
Future Proof Your Business?
Create Long Term Business Value?
Then speak to our experts in your confidential consultation.
At last month’s World Blockchain Conclave that took place in Mumbai and Bengaluru, global blockchain experts shared their views and predications on how blockchain is rapidly changing industries, including claims that blockchain will even be bigger than the internet in terms of mass disruption.
For myself, I was kindly invited also by the organisers of the Conclave, 1.21.GWS, to add my perspective on the subject and how I see blockchain, in terms of The New Economy Business.
Simply, you need to ensure whatever your blockchain business case is, it must solve a big problem – that’s how you will achieve your ROI. Because far too often I am seeing startups and businesses, pour large amounts of money into projects that at the end of the day, deliver nothing. You must focus on solving a big problem, then technology follows. But when you do this, you must also become a disruptor, in that your solution to this big problem, your ‘big idea’, must be unique and make a huge impact if you want to be successful in the longer term.
While blockchain enables the decentralisation of processes based on an ‘open ledger’, and allows transparency whether that be providence or single source of truth, currently today there remains limitations to this technology, particularly in terms of speed and scalability. So even though blockchain has been around for ten years (the same platform the Bitcoin is based on), it is only now we are seeing the user cases beyond Bitcoin and cryptocurrency, which are starting to address some of these limitations.
For example, the renewable energy sector is embracing blockchain to provide community-based co-op style markets. Or supply chains addressing problems such as counterfeiting and fraud, from farm gate through to shop window. Even the huge retailer Walmart, has recently patented a blockchain solution to take into consideration autonomous or robotic delivery vehicles and drones.
One of the reasons why The Startup Business has invested into understanding how blockchain technologies are changing the rules of business, is that our clients needed a trusted partner to help them navigate through this fast-evolving technology. Because one of the first things we do for our clients, is to sit down with them and have a conversation about how we see their industry changing over the next three to five years.
While we may not always be correct with our predictions, this conversation nevertheless, serves as a catalyst to help our clients start looking beyond from what is just in front of them today. Clearly though, what I concluded from all the global blockchain experts, is that the genie is out of the bottle and whatever evolution blockchain 2.0 takes, there is no turning back.
About The Startup Business
The Startup Business helps professionals, entrepreneurs, startups, and small to medium sized enterprises, to setup, scale & sustain their businesses in this age of The New Economy.
Providing business & technology education, entrepreneur mentoring & coaching, startup & business advisory, plus automation and outsourcing services, The Startup Business was founded by the current CEO, Dr Ross McKenzie, a leading expert authority on The New Economy Business, and has its head office based in Sydney Australia.
Why You Need To Look At Your Digital Marketing Differently
Make no mistake, you need to be continually striving for high performance, in your digital marketing efforts to be able to cut through all the noise. However, this does not mean you need to have millions of dollars in resources to do this. In fact, even the smallest of businesses, can dominate their specific category or niche if they implement digital marketing effectively.
The problem however is that most smaller businesses and startups do not understand all the aspects that are required. This is also compounded by the reality there is so much information available – its like where do you start!
The Four Areas Of Your Digital Marketing Ecosystem
Over the years working with my clients, I realised many of them tended to focus on only one part of their digital marketing strategy. This was driven largely by my client’s individual bias or paradigms. However, what this lead to, were sub optimal outcomes. Because there are four broad areas that need to be addressed when implementing the practicalities of an effective or high performing digital marketing strategy.
These four areas are…
Front-End Activities – these include things like creating content for social media or web sites
Back-End Activities – these include setting up opt in pages and email sequences
Non-Technical Activities – these include things like posting content on social media or web sites
Technical Activities – these include search engine optimisation, automation, and risk management
Think of this as a 2×2 matrix or quadrant, where activities could be either: Quadrant I – Front-End & Non-Technical, Quadrant II – Front-End & Technical, Quadrant III – Back-End & Non-Technical and last, Quadrant IV Back-End & Technical
Based on our own research with our clients, most understand quadrant I well, with progressively deteriorating results for the other three quadrants.
The 6 Digital Marketing Levers
Throughout my professional background I have had a strong interest in the concept of “capability maturity”. Whether this be in the practice of Project Management, Business Analysis, Outsourcing, Change Management, or even Innovation, the fundamental concept is understanding how good you are and then implementing specific actions to improve even further. However, to do this, you must break down the “whole” into manageable “parts”. Also, you need to have insights into what is best practice – we call these benchmarks.
Coming from this perspective, I expanded the four quadrants and created something called The 6 Levers Of High Performing Digital Marketing™. This is a capability maturity model or framework, that helps our clients rapidly improve their own digital marketing performance in a short period of time.
Also, these 6 levers support both the Non-Technical and Technical Activities of your digital marketing strategy – the first three being largely Non-Technical, and the last three Technical Activities…
Style – this is about projecting your brand and positioning
Substance – this is to show your value and uniqueness
Shareability – this is ensuring it is easy to share your content, may be make it go viral and have others promote you
Structure – this is to ensure the most relevant content is easily accessible and responsive when it is requested
SEO – this is to ensure the basics of SEO are always in place and you are continually raising the bar to more advanced SEO techniques
Safety – this is to protect your intellectual property but also against potential vulnerabilities whether this be legal, technical, or even criminal
The 6 Digital Marketing Focus Areas
You can immediately apply these 6 levers to your existing digital marketing strategy for your business. Just allocate ten points to each lever (a total of 60 points available) and then ask yourself on a score of 1 to 10, how well do you think you are performing for each lever.
What was your score?
Now of course you do not have any benchmark data to compare with, so what you think is really good, may be some bodies else’s really bad. That said, this exercise will still give you a good indication how you may be performing and where there are opportunities for improvement.
We use a slightly more complex framework that distinguishes the Front-End Activities from the Back-End Activities with six focus areas…
Social – this includes your social media channels
Sites – this includes your websites
Sales – this includes your opt in pages and sales offers
Sequences – this includes all your automated email sequences
Search – this includes your search engine ranking
Sway – this is your overall influence
By combining the six focus areas with the six levers, we can expand our original 2×2 matrix or quadrant to identify 36 specific activities! This level of detail, combined with our benchmarking, helps our clients easily implement a high performing digital marketing strategy by identifying what they are doing really well, and not so well or not at all.
Your Action Plan To Achieve High Performance
Now none of this should be difficult for you to get your head around, or to implement into your own business, now that we have a “system” to address it. Because that was our goal when we created The 6 Levers Of High Performing Digital Marketing™. A systemised approach to break down complexity into simple parts, which we then improve, resulting in high performance outcomes.
To take this further and improve your current Digital Marketing Strategy Performance, there are a couple of things you can do.
Do your own self-assessment, as suggested, across the six levers, to give yourself a starting point
Attend our monthly Digital Marketing Reviews where we do a case study assessment in real time, via a LIVE video teleconference where you can ask questions
Request a meeting with us where we can discuss your specific needs and how we may be able to help you
Finally, remember this to help you in your journey that excellence and high performance in digital marketing is not the result of chance and good luck. It comes from strategy, disciplined execution, and an unstoppable desire to be great.