When it comes to what you delegate and what you do yourself, it’s a question of workstyle preferences. But that’s not the whole story. I’ll share 4 criteria to help you make strategic decisions about delegating.
When I first started my coaching business, my motto was don’t be cheap with your coaching business. This meant that I hired out a lot. I spent money on experts of all sorts and hired a full time VA to do all the little things I couldn’t be bothered with.
I believe my time is highly valuable — good mindset there — so I didn’t want to do anything except what I started this business for … to coach. That was a bit short sighted.
I went too far to the delegating side of the continuum, which cost me in 3 ways:
- Low profits because my expenses were high
- Not learning things that I should have learned
- Time because managing others wasn’t my forte (and it took far more time to manage their work product than if I had done those things myself.)
I made rash decisions because I didn’t really know my business model, what I bring to the table and the holes in my competencies. I didn’t think through what energizes and drains me. I clearly needed a business coach!
Mostly, I was blindly following what other coaches were doing. I fell in with a crowd of high rollers. It wasn’t as seedy as it sounds but it wasn’t good for me either.
Sure, business by trial and error is a time-honored tradition. Making lots of mistakes and learning from them has its upsides! Still, wouldn’t it have been smarter for me to strategize as much as I could from day one in my business?
So, I offer you that better way … strategize as much as you can from the get go then also be willing to make mistakes and learn from them.
What are Your Long-Term Goals for Your Coaching Business?
This is the first of 4 criteria for knowing when to delegate.
20 years into my business I’m delegating far less and that’s strategic because my goal now is to:
- work a 35-hour week
- earn high profits for the time I do work
- deliver high value and work with fewer people because that means less enrolling effort
- keep a simple business model
- do marketing that’s pinpointed, authentic and showcases my genius
For me, offering a 1:1 Signature Program is working far better than other business models I tried and it’s why I teach this to other coaches.
What about you?
- How many hours would you like to work each week?
- Is high revenue more important to you or high profit? In other words, do you want to bring in more money regardless of how much you keep or do you want to keep as much as you can of what you earn? That’s a serious question.
Those high roller coaching businesses bring in high 6 and 7 figure revenues but that means having a team, working more hours, charging really high prices but having lower profits. Sure, it’s a rush if you have the energy for managing successive campaigns for multiple programs and building relationships with joint venture partners.
You must have a staff to manage all of that so you will delegate and manage a lot and coach less.
I ran myself ragged in that business model. And I realized I’d have to work even harder and scale much higher to have the touted financial windfall. That was not my style.
What’s Your Workstyle and Business Model?
What energizes you? Do you love coaching one-on-one? That’s the simplest business model. Or would you prefer group work? That’s more complex but doable.
Is the customer facing side tolerable to you or do you want to distance yourself from your prospects and clients having others interface with them except for exclusive coaching moments?
What exactly will you offer? This is your business model we’re talking about. Keep in mind, it’s very different to have a business where you enroll people into a group program that starts twice per year as opposed to twice per month. The first is probably high ticket and the enrollment campaign is a big effort but done less often.
Can you imagine how what’s on your website, what you do for your marketing and who you need on your team would be different for different business models?
I believe that attracting and enrolling clients is the most time-consuming thing in a coach’s business. For that reason, I only work 1:1 with 20 clients each year in my VIP program and I enroll clients throughout the year as I have openings. It’s a super simple business model with high profit and low labor. That’s what I teach other coaches.
What Drains You?
On the flip side, what drains your energy? These may be things you know you’re not good at.
However, this can be tricky because when you’re new to something it can feel draining. But once you get the hang of it, it’s not. I recommend learning and keeping these tasks. When you apply focus and ask for help when needed, things that seem insurmountable become totally doable.
Sit down and think about this. What are you willing to learn even if it feels difficult for you now?
I recommend coaches learn how to use the simple apps for repetitive quick tasks. I also recommend they learn how to write well because writing is a gateway skill to so many good things.
GET the DOWNLOADABLE GUIDE with copywriting tips on Episode 47.
Marketing and content should be congruent and authentic so in my VIP program I teach my clients high response copywriting techniques. My clients write the first draft with guidance about the flow of paragraphs and examples. I edit. Then they edit my edits. It’s a fun collaboration and they learn by doing.
But, if you’re really good at talking off the cuff on videos and that attracts enough clients you might decide that writing isn’t needed much or that you can hire out the writing here and there instead of doing it yourself.
Where Will Expertise Count Most for You?
The final thing to consider is what things, if they are done for you, will help you feel more relaxed and keep your focus on what you enjoy that also helps you earn well?
As you figure these things out, be mindful of how delegating affects your profits and whether you’ll wish you had learned how to do those things yourself later. Now, take some time to figure out your 4 criteria and then allow that to help you make smart decisions about whether to. delegate or not.