This is one of those times I get reflective about how I’m doing and where I want to go. How can I make the next quarter better? Or the next year? Or the next five years? Am I headed in the right direction for me? Am I headed for success?
Am I still going where I want to go?
How has my vision changed? Can I see myself playing bigger, reaching more people, touching more lives? Have new paths opened up that I want to follow or explore? Starting right this minute, what do I want to attract, create, and manifest over the next twelve months?
Write it down. Make it concrete. Prioritize. What’s at the core of all you do that you want to keep doing? Why do you get up in the morning and do what you do? What is your passion and are you still following it?
What new skills have I learned?
We are constantly learning and changing. What have you learned, discovered, experienced that has brought a new realization or insight that you want to incorporate into your life and business? Have you added a new credential? Is there a new venue you want to explore? Have you met new people to partner with? Write down your skill sets, see how many ways you can use them. Prioritize them and build them into your business.
What’s working and what needs to be phased out?
Get real with your dollars and cents. What is earning you money? What is fun but doesn’t bring in income? How can you streamline your costs? What help do you need to get? Shed the worst 10% of everything you’ve got – that includes clients, products and time wasters. That leaves room for you to add 10% more of the great stuff.
What are my goals for the year?
Only take the steps that forward the goal you have chosen for the year. That will keep you on target and produce more relevant results. Do you want to get more clients? How many? What do you need to do to make that happen? Get a coach? Do more networking? Do more referral education? Pick tangible goals with measurable results and track your success. That helps you know what to keep and what to toss at your quarterly 10% house cleaning toss.
Re-price, Repackage, Reposition
The easiest way to increase income is to re-price – as in raise your prices. Don’t look at what you do according to the time it takes you to do it. Look at the value it produces and price accordingly. When I coach a person in developing an information product, it’s not about the time we spend together or the time I spend strengthening the content, it’s about the value of the results she will get with the content we produce. Even more important is the knowledge she obtained that she can reuse again and again to make more information products. That changes our thinking, doesn’t it?
Repackage – position your offering so people sign for longer periods of time. That allows them to make the buying decision only once. I ask for a three-month commitment because the decision-making process takes time. The completing of the project is a snap after the decisions are made. Some coaches have a six-month or twelve-month commitment. How much time do you need to get the results you promise? The coaching process is about change and that simply takes time. If you are settling for a three month commitment, look for other offerings you can make to up-sell that client to a longer coaching package. Keep finding ways to serve those loyal customers who already know and love you.
Chunk your products up or down. Present the same material in new formats. I broke a five-week telecourse down into a series of eight ebooks so people can access the information at a lower price point. Breaking that information down also gave me the chance to expand each topic.
Reposition your offerings to a new target market. As I move into semi-retirement I have discovered a whole new set of personal challenges. How do I stay relevant? Who am I if I am not my business? My passion to learn and teach and write remains but my interest has shifted. I now help entrepreneurs who are moving into retirement with all their creative juices still flowing, to re-purpose their passion and talent so they can slow down and still feel productive and relevant. I’m focusing on personal growth. I help my clients find balance. My business background can help them downsize and reposition their business. My spiritual background can help them prepare for retirement. It’s the same me with the same skill set. It’s simply a different focus for my offerings.
Move more deeply in service
If you continue to move more deeply in service, to continue to find ways to support, nourish, guide, encourage, inspire your target market, you’ll be happy and they will keep coming. Don’t throw out everything. Don’t start over with everything new, but take time to reflect on how you’re doing and how you’d like it to be different. Then simply take the steps to make it happen.