Tuesday, October 11
Coffee Cup Chats // 15 Micro Investments For Your Coaching Business
Forbes says, "a marketing budget is one of the most important things you can do for your company". Did you know that on average, the top publicly traded companies spend 10% of their annual revenue on marketing? And yet, one of the biggest mistakes I see new small business owners make is forgetting to set aside a portion of their profits to re-invest in getting the word out about their business! Coaching is no different!
When I first started coaching, I was working my booty off to make enough money to cover my own products so that I could support my fitness habit, continue to get healthy and stay plugged into the incredible community of coaching and challenge groups, and then try to make a profit on top of that. Just like any new business, it takes time! And I was afraid to spend extra on anything just in case my business couldn't earn enough to cover it! But over time I learned that starting small with micro-investments in my own business can add up to big returns (aka time saved, profits, sanity, growth, etc!) when I chose wisely and followed my gut!
Micro-investments can be anything from buying your own domain, to purchasing a book that will help you get better at an aspect of business or leadership, to programs or apps that will help you accomplish your daily tasks more effectively! Even just five or ten dollars a month could mean a huge difference over time in your business! Having a little more skin in the game (so to speak) can also help you to treat your business more like a business and less like a hobby, and get you more into the mindset of success!
If you're ready to take it to the next level, read on. I've picked out some of my favorite things that have helped me in my own coaching business that are free or cost less than $50. Start small and grow as you go!
$5 Coaching Micro Investments
Laminated To-Do List - One of the best things I did for my productivity was to laminate my daily to-do list for my business. It cost less than $10 to print it and have it lamented at my local office supply store and now I can use a dry erase marker on it every day to stay on track!
Boost a Post - If you have a Facebook fan page you can get your post in front of more eyes by "boosting" it for as little as $5. You can even specify what audience you want your boost to be shown to. There are tons of tutorials available online that dig deeper into using this feature if you want to learn more!
Wordswag - My favorite app for creating beautiful images for Facebook and Instagram that have inspiring quotes of info written on the picture. I had this in the free section but someone commented letting me know it's $4.99 now in the app store. Still totally worth it!
The Target Dollar Bins - The Target dollar section has so many great little things you can pick up to use as prizes or giveaways!
$10 Coaching Micro Investments
Custom domain - if you have a blog or a website you can get a custom domain for less than $10 that will help make your business look more professional.
Buffer App - Buffer is an app that helps you manage posting across your social media channels. I'm still just learning it but I hear incredible things and you can get started with their upgraded plan that lets you have up to 10 social media accounts included for just $10 a month.
Canva - Creating graphics for your challenge groups or your team recognition or even just for your social media can be daunting if you don't have a background in graphic design. The most user friendly program I've found is Canva and it's free to use. There are some design elements and templates that cost $1 but for how beautiful your graphics will look, it's definitely worth it!
$15 Coaching Micro Investments
Zoom Pro - Zoom is a platform that allows you to host video conferences, record them, screenshare during them and more. For $15 a month you can get Zoom Pro which does not limit your time or participants. I use Zoom to host weekly team calls, mastermind sessions, and even one-on-one chats because it's so simple and handy!
Do an Instagram Shoutout - If you post your workout selfies or transformations, you can find big fitness instagram accounts and pay for a shoutout. I've found accounts that will do shoutouts for as little as $15. A shoutout is basically where they'll feature a photo of yours and drive their followers to go check out your page. It's a great way to get in front of more eyes targeted to your niche.
Audible - For about $15 a month you can use Audible to download and listen to audio books. You get 1 book free each month with your subscription. I love listening to personal development books while I'm driving. It's a great way to multi-task and invest in yourself! Books are one of the absolute best investments you can make in yourself and your business!
Death to the Stock Photo - For $15 a month you can subscribe to get photos you can use for your marketing. (Just grabbing photos from google images, fb, instagram, blogs to use for your marketing is technically stealing so don't do it.) Paying for the use of images, especially if you are going to use them to run an ad or advertise your biz is the ethical route (and it can keep you out of lawsuits down the road!)
$25-$50 Coaching Micro Investments
Personal Development - Ebooks, Hard copies of personal development books, etc. You can find training on just about anything you want to get better at out there for about $25 or less now-a-days!
Photo Backdrop - If you want to up your photo game, a simple backdrop can do the trick! I use a white-washed wood one all the time for food photos! They come in all different sizes starting at just about $10 and going up the bigger size you need. Here's my favorite supplier.
Blog Love E-Course - The original version of this course was so helpful to me as a new blogger and it's a go at your own pace kind of learning. For $45 if you want to get into blogging, this is an incredible first step!
Blog Templates - For about $50 you can get a pretty incredible customized template for your Blogger or Wordpress blog. That template can take your blog from generic to showstopping. A lot of places will even handle installation for you! Check etsy too for good blog template deals!
Host an event - Why not host a fitclub where people can come work out doing one of your incredible programs! Fitclubs must be free to attend but unless you have space at your house for it, you'll probably need to rent someplace. Public parks could work for a bootcamp style workout. Or check apartment complex common rooms or community centers.
Seriously have zero cash available right now? Here's some options that have free trials or free basic memberships you could use to get started and then upgrade when you grow out of them!
Free Coaching Tools
Blogger, Instagram, Facebook Pages, Youtube Channel - Get on social media and start sharing. Consistency is the most important part and just getting started is a vital first step. Luckily, all these incredible platforms are free to use!
Zoom - Zoom has a free basic membership you can use to host video web conferences that are less than an hour long and for less than 40 people at a time.
MadMimi - You can use Madmimi for free to send out email newsletters as long as your list is less than 100 people
Library for Personal Development - Your local library has tons of books you can get started with if you can't afford to purchase your own copies of personal development just yet. If you are a brand new coach I highly suggest starting with a book called, The Slight Edge. It's my all time favorite!
Canva - Canva is an incredible graphics program that is online that you can use for FREE as long as you choose from the design elements that are free and available without licensing
Kill The Newsfeed - In Chrome you can download a plugin called "Kill the Newsfeed" that will make it so every time you go to Facebook you don't see your main newsfeed. For coaches who use FB as their main business platform this is HUGE for avoiding distraction. You can still access your messages, events, groups, and business pages.
Youtube - Many of the top coaches in all of Beachbody (myself included) have tons of FREE training videos available on Youtube. You can learn so much just by doing a quick search and watching what's already available!
Want to learn more about how to be a successful Beachbody coach and grow a business that supports not only your health and wellness but also your dream life? Apply to be a coach on my top ranked team to be mentored by yours truly and join our tribe of men and women who are building businesses based on heart and hustle! I'll teach you everything I know and share with you exactly how I built a solid home-based business by taking control of my health and inspiring other people to do the same!
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