Kim Kirmmse Toth - Small Business Coach

3 Tips for Risks and Rewards in Your Business



When was the last time you took a risk in your business? Or maybe another question is; are you ready to take the risk of even starting your business?

Doing something new can certainly be a scary thing, there is no doubt about it. Then again, if you never took any risks, if you always played it safe, you might never move forward. You might stay right where you are, even if you are not in a good place. That holds true on a personal level as well as on a business level.

I can honestly say to you that I have taken many risks in building my coaching business and some of them scared me to death! One of the biggest risks for me was closing my therapy practice that I had for 23 years knowing that that income stream was ending. Gulp.

It also made me get off the dime and totally change how I ran my coaching business. That was a very good thing. My coaching business was feeling very much like my therapy practice.

I can tell you that when you even think about taking a risk you may feel some fear. Maybe it will just be a little bit or maybe it will be a lot. First thing you need to do is to acknowledge it. Be grateful that it is there because it means you are moving forward and not staying stuck in the same spot.

When you feel fear you are really creating an opportunity for a breakthrough.

Feeling this fear may come across as frustration, anxiety, self-doubt or worry. Acknowledge these feelings for what they are and know that it means that you are being a good business women by pushing yourself in a new direction.

I encourage you to trust yourself as a competent woman (or man) with an enormous amount of skills and put yourself into action with courage. You will succeed!

Here are 3 ways you may want to step up your business and yes, they may feel risky to you, but they will move your business forward.

1. Stop your 1-1 coaching. Instead create programs that have a beginning and an ending, and offer structure to your clients. You can still do your 1-1 coaching but your private clients also will benefit from a program that is created for just for them, with a beginning and an end.

2. Get out and market yourself. The internet and all it has to offer is great but you must step out of your office, away from the virtual world. Join Chambers of Commerce, join networking groups, and talk to people. Don’t be the best kept secret in your city! Develop a signature speech that you can use to talk to the very people that are in your target audience. Put your pretty self out there!

3. Raise your rates. I know that can be a very scary thing but as your experience and skills increase so should what you charge. You are great at what you do so earn the income you deserve.

There is no reason for you to stay small. You have too much to offer the world! So, take a deep breath and decide which risk you are going to take first, then second and then third. This is when your rewards will start showing up for you!

I would love to hear below what risks you are going to challenge yourself with so that you business moves forward in a positive direction!

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4 Comments


  1. Susan Cadwell
    Aug 17, 2010

    Kim,

    I am very scared. My unemployment is running out and now I am soly dependent on coaching for survivial.
    I like the idea of group projects. I have conducted a few workshops but received no referrals from it but met some great people.
    I am currently working on a phone conference call with a mass mailing to therapists
    telling them about it. I am hopeful to get a couple people to. It is for therapists who have
    been in the business for at least 20 years and maybe looking for that next step. It is called
    How to incorporate coacing into your private practice. I have never done anything
    like this before but am feeling challenged and willing to give it a try


  2. admin
    Aug 17, 2010

    Good for you Susan for stepping up to the plate! Sometimes it
    takes our being in a tough spot to make us move forward.
    One question for you: when you are doing workshops do you get
    the participants names and email addresses? That’s very
    important and a great way to grow your list so that you can
    keep in contact with them with your new offerings.
    I think you are up to the challenge Susan!
    Keep me posted ok? I’d love to hear how it all goes,
    Kim


  3. Juels Yaklin
    Jan 10, 2011

    I just raise my rates.


  4. Kim Kirmmse Toth
    Jan 10, 2011

    Woo Hoo!!!!!!!!!!!!!!!!!

    You go girl!!!!!!!!!!!!!!!!!!!!!!

    as long as you deliver, you are grand.

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