My business today looks nothing like the business I started over a decade ago. I’ve been constantly transforming and that’s what keeps in fresh and exciting for me. It’s also what’s kept me profitable. I’ve seen some of my colleagues stand still with their small niche market, but when the economy shifted or when their niche found the next new thing, they ended up going out of business.
Where has all this maneuvering got me? I started out doing image consulting with private clients and then moved into work with more professional people. Then I worked as a corporate image consultant, doing one-on-one and group sessions and adding communication expertise to my portfolio. Today, I work with senior executives in major fortune 500 corporations around executive presence, communication skills, and leadership.
Are you at a point in your business where you know it’s time to move up a level? Perhaps you want to charge higher fees, work with higher-end clients, or get started in the corporate arena?
Over time working with hundreds of business owners, I’ve observed that there are four stages of growth as you move towards a higher level of success in your business. Take a look and see how each stage has its own rewards and challenges (aka growing pains).
Stage 1: Excitement and Doubt Fight for Dominance
This stage usually begins on a high. You have a vision of what you want to achieve. You’re ready to leave your comfort zone behind and go for it. But this stage can be the end of many aspirations because on its tail comes self-doubt. Your mind starts playing tricks on you and you tell yourself, “I’ll never sell these rates or attract these premium clients.” This is normal so don’t throw in the towel. Learn to be at peace with being both scared and exhilarated at the same time.
Advice for this stage of the game: One of the biggest doubts is worrying that you don’t know how to do it. There are two ways of approaching this problem. One way is just moving forward and taking action. You’ll make mistakes but you’ll learn all the how-tos over time. The second way is easier, find a coach or a mentor who has been there and done it already so they can guide you through the rough terrain.
Stage 2: You’re Building Momentum but Occasionally Slam on the Brakes
You start experiencing results as you implement your plan. Your new ideal clients begin to say yes to your programs and higher fees. You feel a shift deep inside of you and you realize that rising to this next level is possible. But then you face a few rejections and doubts begin to resurface. You wonder if you should throw in the towel and go back to what you’re good at.
Advice for this stage of the game: You want to give yourself time to transition to the next level. I always tell my clients that you want to crosswalk into your new work by attracting new clients who are willing to pay higher fees. But as you are transitioning, keep income streaming in from your current clients using your older model or fee structure. This will give you time to build traction in the new work and price point level. You’ll benefit because you’ll stay confident in your abilities and you’ll maintain a constant revenue flow.
Stage 3: You’re Gaining Confidence But Unexpected Obstacles Appear
You start to feel more and more confident doing this new work. You realize former clients no longer light your fire since you’ve grown and shifted up but it’s difficult to let them go. You also start realizing that your old systems and marketing materials are outdated for the new work you’re doing.
Advice for this stage of the game: It’s now time to start letting go of the type of clients who no longer feed your soul. The truth is you should be learning as much from your clients as they are learning from you, so let go of clients and the type of work that no longer serves you. It’s also time to reinvent key aspects of your business. You probably need new customer service checkpoints to ensure you are delivering an exemplary service. It’s also time to uplevel your marketing with a new website and marketing collateral that showcases the new you.
Stage 4: You’ve Reached the Next Level and Have Shifted Into Your Brilliance
Not only has your business changed but you’ve changed for the better. You see things from a totally different perspective. Your confidence is greater and you aren’t scared to step out of comfort zone and execute new things to drive your business.
Advice for this stage of the game: Enjoy the rewards of your success. But beware of staying comfortable too long. Now that you now know how to set a specific goal and nail it, keep striving forward. In today’s competitive market you need to keep accelerating forward if you don’t want to be left behind.
In full disclosure, I would have never moved out of stage one if it hadn’t been for the support of my amazing business coaches. I always chose a coach that had already achieved the level of success I wanted and this strategy worked. They kept me moving forward through the unexpected challenges. If you’re ready to accelerate your path to the next level and want expert coaching to get you there, call 1-800-267-3245 to schedule a complimentary 30-minute consultation.
Predictable Results™ Assignment
Review the four stages and identify which stage of business growth you’re currently experiencing. What do you need to do to move forward to the next stage of growth?
As a pioneering and visionary innovator, Sarah is a certified professional image consultant and brand strategist, speaker, trainer and author. Her company, Illustra Business Coaching, provides leading-edge business building strategies for small business owners & entrepreneurs who wish to take their company to the next level.
Illustra Business Coaching
Copyright © 2018, Sarah Hathorn, AICI CIM
1-800-267-3245, info@illustrabusinesscoa