The “Business Coach” Trend
Working together to make a difference.
Today I am sharing something I have learned over the years in business. From working with small business owners in the banking industry to today owning and operating my own design business.
I am about to dive into something a bit controversial happening in the business community. As I have grown my business, I have found many terrific resources in the design field and have also run into some looking to make a quick buck on a newby. It got me thinking about this trend where designers and other business owners become consultants and business coaches and then package and sell these services pushing them further and further away from 1:1 client work. I definitely see the value in these types of services in some cases and appreciate advice from those with more experience than me…always have!
From experience when starting a business, paying for solid advice and direction is quite important. However, there are some offers targeting new or aspiring small business owners that are just not feasible without going into debt and there is no guarantee you will receive a return on your investment. Where I have an issue is when I run into a scenario looking to prey on people wanting to start their own business by selling them on a “package” to guide their start-up while playing on their fears. This feels icky and gross to me as a business owner and something that should be carefully evaluated before you dive in and hand over the dollars.
Let me share an example, last year I was strongly considering investing in a similar sort of business “package”. I have been consuming free content for the past few years and follow some designers that provide tremendous value and resources. I definitely see the value in paying someone for their knowledge-I am a web designer offering a paid service. However, as I was doing my research doing a cost/benefit analysis, I stopped dead in my tracks when I noticed a name I recognized from the design world touting their success as a result of this course. I couldn’t quite place the person. I looked back on some other resources and found this same person sharing a testimonial for another web designer turned coach touting $10-15k websites. HUGE RED FLAG! If you are schilling $10K websites then why do you need to pay for this additional course with a similar end goal of charging more? The answer, you are not schilling $10K websites and/or are getting paid or some sort of affiliate kick back for your testimonial. I didn’t buy the course.
This trend has me thinking about the “consulting” element of my business. Because I do try my best to position my clients for success and part of that is sharing my knowledge of business with them and things I would recommend they do in their own businesses to propel them forward. Have I been used for free advice? Sure. Does that feel great? No, but it is part of business sometimes.
Here is what I have learned:
You should pay the experts—accountants, attorneys, and other necessary service based professionals.
You need a website to validate your business: If you can’t afford a web designer, you can 100% DIY a website on Wix, Squarespace, etc but it is going to take you away from growing your own business due to the time it takes. It might not look the best but it can be done and in some cases makes sense. If you can’t afford a designer up front, don’t let this stop you from launching your business. Hire one down the road to help bridge the gap as you have more money coming into the business and can afford to.
Cashflow is king. You do not want to set yourself up with unnecessary debt out of the gate.
Pay for the critical advice you need at the beginning and save for future expenditures. Some of that advice could save you thousands in the long run. Hello accounting professional!
It is okay to start lean and mean then invest as you grow. That is exactly the approach I have taken. I started designing on my trusty Macbook Pro and only recently invested in a MAC daddy of a machine with a huge screen and all the bells and whistles. I found success and was able to pay for that Macbook Pro as a start-up and I felt good about that. I feel good about the next steps I have taken and some of the investments I have made in myself and with other experts that are helping me propel my business forward.
The reason I am writing this is because I truly feel passionate about people helping people. Especially in the small business community. We are the ones driving change in our communities, supporting the local high school organizations and teams, donating to local programs to help children in our community have food over the weekend when school is closed, etc. We are supporting our families and enjoying life while working hard and helping others in the community. I am proud to be a part of this kind of business community where we are fueling each other and making our small part of the world better for us and those around us.
You don’t have to start with “all of the things” just start! Lean on resources around you for help and guidance. You are only limited by your own mindset. We can do hard things and succeed! Will there be bumps along the way, hell yes! But as I tell my children, we often learn more from our mistakes than our successes.
Cheering you on from behind my screen! As always, if you have any thoughts to share please send me an email: jlwatrob@north8designs.com or a direct message. I would love to chat and hear your experiences.
