One of the most powerful ways to help your business coaching clients succeed is to introduce them to the Five Steps to Freedom. (Hint: not only is this one of the most powerful ways to help your clients succeed, it’s the way you’ll build a business coaching practice that’s a freedom-producing asset for you, too!)
The Five Steps to Freedom is the “big picture”–the very definition of success in business. It’s a complete methodology for coaching small- to mid-sized businesses from the ground level to a hands-off source of residual revenue.
So what are they?
Let’s drill down and find out.
Step 1: CREATION
This is the step where you’re beginning as an unknown in the marketplace, researching a viable niche in your market, developing a working prototype of your business model, and launching the model. From there, you move to:
Step 2: CHAOS
This is the step where you push through the often bloody battle of becoming cash flow positive by investing heavily and driving growth like crazy to build brand awareness so you can grow and capture market share as quickly as possible. Sadly, only a small percentage of businesses make it past this step. Those who do move into the phase I call:
Step 3: CONTROL
This is the step where you convert cash flow into profit by stabilizing and organizing your operations, measuring your well-chosen performance metrics, and fine-tuning and adjusting the business model. This allows you to reach:
Step 4: PROSPERITY
The is the step where you solidify a position of dominance in your niche market by economizing and optimizing for efficiencies so you can continue to invest in growth and repay debt. When you’ve reached this point, you can start to enjoy the fruits of your labor as you head into:
Step 5: FREEDOM
This is the step where you begin to reproduce yourself and develop a strong core of leaders who will continue to grow the business through partnerships, joint ventures, and acquisitions. At this level, the business owner enjoys the fruit of his or her labor in the form of free time and free cash flow.
You can’t skip any steps. You move from one to the next, and each has different tasks. A huge part of helping clients grow their businesses is teaching them to understand the step they’re on, and what it takes to move through it. In the process, they’ll feel as if they have a roadmap for where they’re going, more confidence in you as a coach–and more confidence in themselves as business owners and entrepreneurs.
A huge part of helping clients grow their businesses is teaching them to understand the step they're on, and what it takes to move through it.
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