Ep #57: 2020 Reflections and Moving Forward
As we near the end of 2020, I’ve been thinking about what 2021 is going to look like for all of us entrepreneurs. So today, I wanted to take a slightly different direction than my usual content and share some of my reflections from this year, as well as some trends and non-negotiables that you need to consider if you’re building a coaching practice.
I believe 2020 has been a year of incredible opportunity for every single one of us, but I’m also excited about turning the page to 2021. I’ve been thinking deeply about the coaching industry in general and where I’m taking my business next year, and I want to share some of these observations with you today in the hopes that it gives you a clear idea of what you might need to work on to grow a successful business moving forward.
Join me this week as I outline 5 critical things you need to work on to build a thriving business and what I see to be opportunities that are lying ahead of us. As coaches, we have the ability to be at the forefront and help others navigate this trying season, and I hope my suggestions today serve you and your people.
If you’re ready to build, grow, and scale your business, I’m inviting you to check out my two programs, The Mastermind and my Million Dollar Mastermind. Enrollment for both of these programs are opening up, so schedule a call with me by clicking here and I look forward to working with you!
What You’ll Learn:
- Why I see 2020 as a year of opportunity for all of us, especially if you’re an entrepreneur.
- My observations of the state of the coaching industry this year.
- Why I believe coaching is going to become more mainstream.
- One thing that is critical for you to do if you’re a coach.
- Questions you need to answer to up-level yourself and your business.
- 5 non-negotiable things that are crucial for moving forward with building your coaching practice.
Listen to the Full Episode:
Featured on the Show:
- If you’re ready for a real breakthrough in your business and want to grow and scale your business to at least six-figures or more in annual revenue, I invite you to apply for my exclusive program The Mastermind. I look forward to seeing you there!
- Ep #1: The Identity Shift
- Ep #14: How to Know What You’re Truly Committed To
- Ep #22: True Responsibility
- Ep #33: What It Takes to Grow a Successful Coaching Business
You are listening to The Life Coach Business Podcast, episode number 57.
Welcome to The Life Coach Business Podcast, a show for coaches who are ready to up-level their business and take their impact, leadership, and results to a whole new level. If you’re ready to start taking powerful action and become the leader your business needs in order to grow and thrive, this show is for you. I’m your host, Amanda Karlstad, certified life and business coach, and entrepreneurial leadership expert. Now, let’s get down to business.
Hello and welcome, everyone. So glad to have you with me today. I hope you’re doing well. I am doing amazing. It’s a beautiful day here and I’m excited to talk with you today.
But before we dive in, I want to just talk for a minute about how blown away I am at the results that my clients are creating in both of my coaching programs. So in my foundational six-figure accelerator, which is called The Mastermind, where clients are working towards their first six figures, and also in my high-level mastermind, which is my Million Dollar Mastermind, where clients are scaling to multiple six and have long term goal of scaling their businesses to a million dollars in revenue and more.
And I just have to say that we have been doing some very high-level work in both programs and there are just so many amazing things happening and I have so many amazing things planned coming up for both of these programs that we’re going to be doing some really cutting edge things that I’m super excited about because it’s really nothing that I’m seeing in the industry.
And I’m just so, so excited for my clients. I’m so excited for what that looks like and just to be offering the highest level of support and programming that I’ve ever offered and just the level of results that are coming through because of that.
And so I have to say that I’m just blown away at how fast I am seeing them create results, how fast they are creating momentum in their businesses and how fast they’re just up-leveling everything. And I want to talk for a minute about this because this is something that is really important to me and it’s an intention that I set when I started my business, when I started working with the clients that I work with is that my number one goal for all of my clients is to help them get results, is to grow and scale their business.
And whether that’s their first six figures, or whether that’s their first million, it’s to really help them scale what they’ve created to create consistency in their business. And so it’s just so much fun to be able to do the work and to see that happening.
And along with this, one of the things that’s also really important to me and I’ve talked especially to my high-level clients about this is it’s really important to me that my clients are high-level business owners. And what I mean by that is that they are essentially a boss when it comes to leading their business.
And what that means is they know how to run a business. They are very well versed in online business and how to be a true business owner. Because the truth is that the success of any business is always going to come down to the psychology of the leader.
And so this is why this has been a foundational focus for me as I’m mentoring my clients, as I’m coaching them and advising them on their business, it’s always about how can I not only help them create a successful business and brand, but how can I also help them be the most effective, the most solid and knowledgeable business owner as well.
Because the truth is that is just as important as your skill level as a coach. And I believe that the level of leader that you’re being in your business is in direct correlation with the growth of your business and how successful you are when it comes to actually leading your business.
And so this is super, super important for me, and I’m seeing it pay off tremendously for my clients because through this process, because they are being coached and mentored, not only to be the best coach they can be but also to stretch them into becoming next level business owners, it’s serving them very, very well.
And so some of the results that some of my even newer clients have created is I have clients that are creating their first $20,000 months, literally within the first few weeks of working together, within the first month of the program. I’ve had clients transition fully out of their corporate jobs, their successful corporate jobs within the first two months of the program.
I’ve had clients step into full alignment as it relates to the work they’re doing and launch brand new programs, brands, podcasts, all of it. And so there are so many incredible things happening, so much momentum that when I really sit back and really look at what’s happening in each of their businesses, I am just so, so proud of them, and how exciting it really is to see the progress and the massive shifts that they make.
And also with that, the difference, the ripple effect that they get to make in their clients’ lives. And so I talk about this a lot and we’ve been having conversations inside of my masterminds on this about the importance of really being in alignment.
And if you’ve listened to any of my podcast episodes or you’ve been following my work for a while, you know that I talk about the importance of alignment. And the reason I do is because it’s really, really critical when you’re growing a business.
And so what alignment means is making sure that you are positioned to do the work that you’re doing and that you’re working with the clients that you know you’re best positioned to help. And so I can’t emphasize that enough, that if you’re building a business that you really do work to find full alignment, that you really work to find alignment in all areas of your business.
And so this comes down to the marketing and how you communicate, how do you deliver your products, and I know for my clients, I can speak to the work that we do definitely in the first few weeks, my number one goal right off the bat is to get them in full alignment. Because it doesn’t matter what strategy we implement, it doesn’t matter if we have the playbook and the blueprint, which they all do.
We have to be in full alignment first. And so the result of that is once you’re settled into that and once you know where you’re really best positioned to do your work and who you’re really meant to work with, what it does is it really does empower you to then go out and do the work you’re meant to do and connect with the clients that you’re meant to connect with.
So it’s a really powerful thing and I’m seeing this happen across the board. And it’s really fun, especially with some of my newer clients because many of them when they come to me, they’ve been focusing on typically usually a niche of some sort and they’ve been offering certain programs, but for whatever reason it’s just not coming together.
And so what I love, one of the things I love most is when I start working with new clients, I do an initial deep dive session with every single client. And usually, by the end of that session, by the end of that first session together, we generally have an entirely new or enhanced brand that we’ve already mapped out and a new direction that we might be heading in with their business.
And for whatever reason, I know that this is just one of the gifts and one of the ways that I can really provide value to my clients is really being able to see a very strong vision for them, a very strong vision for their overall brand, for their business based on who they are, based on the type of work they really want to do.
And once we click into that, it just really changes everything. And so I do think this is also one of the reasons that my clients get such accelerated results. It’s one of the reasons that they are able to build momentum so quickly, and it’s one of the reasons that I’ve built out this specific process that I’ve built out, that I use in my programs, that I use with every client, that really allows us to get to the heart of it, to really get to the core of who they are and really get them into momentum.
And so I just have to tell you, it’s so much fun to see that come through, to see that happen. And it’s fun because every time, we’re right on in every single case. And so I just love that part of my work.
So if you’re in a place where you are feeling a little stuck, if you know you need to create more momentum, if you are ready to scale your business, you’re already all in on your business and you know you need to have more of a strategy, if you know that you’ve got some missing pieces, I encourage you to really reach out.
Go to my website and we’ll link up in the show notes where to do that. Go to my website, set up a call. I’m happy to have a conversation with you because really, what we’re doing, I want to make it clear. The work that I do is well beyond what it might seem on the surface. My work is really about helping my clients not only build out their brands, define these brands, but really bring them to life, really birth them into the world.
And with that, there’s a lot of layers with that. There’s a lot of considerations. And so for me, it’s just so much fun to help them do that. It’s so much fun to help birth these brands to life. And in some cases, we’re building the brand from the entire foundation, and in some cases, we’re tearing down a brand and that’s okay.
What’s really fun is the result of what we create. And of course, the revenue that my clients are able to create as a result of that, which is so, so much fun. And so again, I really encourage you all that are listening, if you are in a place where you know you have what it takes and you’ve got the drive to build a highly successful business and you want to build your business to either your first six figures or if you’ve already hit that milestone, or you might be on track to hit that milestone, I really again encourage you to reach out because I’m opening up enrollment for both my six-figure accelerator program, my 100K accelerator program, which is called The Mastermind, and also first time, my Million Dollar mastermind.
And that is essentially for clients who are looking to scale. And so both are open for enrollment. I’m really excited about the work we’re doing in both of these programs. Both are very high-level mindset, both are very high-level strategy, and I invite you to reach out. We’ll link this up in the show notes, but you can schedule a call by going to my website, amandakarlstadcoaching.com.
So let’s get to it. What I want to talk to you about today is a little bit different. I’m taking a little bit different approach today because I have had some things on my mind, and I decided I wanted to have a little bit of a different conversation with you today.
So typically on this podcast, I do a lot of teaching. I introduce a lot of new concepts that I’ve developed, a lot of concepts that I use in my coaching practice, a lot of lessons that I’ve learned in my own business, and also in my own experience and working with many, many, many clients.
But today I decided I wanted to have just a little bit of a different type of conversation with you and this is because I think always this time of year, for me, it’s always been a reflection time. Here we are, nearing the end of 2020 and I’m already thinking, and I have been actually for a couple of months already.
I’ve been thinking a lot already about 2021. And so because of that, I am thinking about the year ahead, I’m thinking about turning the page to 2021, which to me is a very exciting thing, and I’m sure for you as well. And it really got me thinking about the industry in general and it got me thinking about where I’m taking my business next year and where my clients are taking their businesses in the next year.
And so I’ve just been doing a lot of reflection about that, about online business, about entrepreneurship. And so for today, I decided I wanted to share some of those reflections, some of those observations with you regarding some trends that I’m seeing, what I think this means for you if you’re a coach, and if you’re building a business, and my hope is that this conversation brings you a lot of value.
And so to start with, let’s just start with 2020. And I think we can all agree that 2020, it’s been a year. It’s been quite a year in so many ways. And one of the things that I’ve talked about on the show is that 2020 has really been a year of huge opportunity. And it’s been a huge opportunity not just on a global level, but I think for all of us individually.
And it’s been a huge opportunity I believe for all of us to have been awakened in many new and many unexpected ways. And I really do believe that this year has been a conscious awakening for all of us. I believe it’s really been the year of great awakening.
And so what I mean by that is this. When you think about what has happened in 2020, it has really given I think every one of us an opportunity to really grow in so many new ways. And so when I look at this year, I have to just really take pause because I really do believe this.
I think this is all really meant for us and I think it’s important to really look at how much growth has become available to us. And I think this is especially true if you are a business owner, if you are an entrepreneur, if you are in online business.
There have been so, so many opportunities both professionally and personally. And so I believe that we’re all being asked to step into this next evolution of ourselves, into these next iterations of our businesses. And I want to talk for a minute about this because one of the things that I find very significant when it comes to the coaching industry is the fact that there have been so many more opportunities that have been presented for coaches.
So opportunities that have been presented this year have been in my opinion, really, really significant for the coaching industry. And when we were first hit with the pandemic, I released a podcast about this exact topic, about the tremendous opportunity that I believe we have as coaches to lead during this time, to be at the forefront and to help others to navigate this season.
And the truth is there has never been more of a demand for coaching. Never before has there been such an opportunity to serve others and to help others navigate these very personal and in many ways, for most people, very, very trying times.
And there really has not been a better time than right now to do just that. And so I want to start out by saying that despite what has happened in 2020, to me the silver lining is at least, and at least for how I am choosing to perceive it, it’s been a tremendous opportunity for growth. It’s been a tremendous opportunity for evolution.
And I think it’s really important to maintain some perspective with this because it’s very easy to miss this opportunity. It’s very easy to just say well, let’s just chalk up 2020 as 2020. But I think if we’re doing that, we’re missing one of the biggest opportunities that we’ve seen in a while.
And so that being said, I want to talk for a minute about the state of the coaching industry and what I see happening within the industry. And I will start by saying that I think there is and has been a shift that is happening.
And recently, I’ve been noticing that at least in my experience, this shift seems to be speeding up. And that shift is that I do think while there are more and more who are entering the coaching industry, more and more who are transitioning into coaching, I do think coaching in and of itself is becoming more mainstream.
And I think this is important to recognize because again, there’s tremendous opportunity here if you choose to see it. And as more and more people are seeking out coaching and more and more businesses seek out coaches to help them navigate the things that they need help navigating, I think we’re going to see more and more that coaching is going to become even more mainstream.
And with that, because coaching is becoming more mainstream, it’s becoming more of a recognized industry, there are more and more entering the industry. And because of that, one of the things that I think will be critically important if you are a coach, if you are trying to build a business in this industry is that number one, you have done your work.
And what I mean by that is not only have you invested in developing your coaching skills so that you can effectively help your clients, but that you’ve also done your work to be a credible business owner, so you can run your business effectively, so you can market effectively with the ever-growing noise and actually be recognized as a solution, as someone who can help in your particular niche.
I think that’s going to be really, really important. And I think with this, there’s going to be an even greater need to really understand where results come from, to really understand that at the highest levels, it’s more about the shift into the becoming.
So into the who versus the what. And being able to clearly assess the who before the what. And here’s why; because the what is only as effective as the who, who is doing the what. And for me, it’s very interesting because I get a front row seat to this every day.
And so it’s really interesting to observe this, both with clients and just within the industry. And what’s interesting is that to me, it’s very, very clear who is tapped into this and who might not be. And what I will say is that clients and those in the industry that are really tapped into this, who are really tapped into the being and the embodiment are always the ones that are experiencing the best results, always.
And so the reality of this is that for many, this is a hard place to get to. And when you get there, it can be a very hard place to be. It can be a very hard place to operate from. And that is because in most cases, it requires a major shift in identity.
And this shift in overall identity can be a very painful process for people. And in fact, I have some clients going through this process right now and it is always very, very uncomfortable, but it’s also required. And as I’ve been coaching clients, the ones who are going through this process, I’ve been telling them, there’s really no way to circumvent this process. There’s no way to skip the discomfort. There’s no way to just snap our fingers and poof, immediately we’ve got things locked in.
Instead, this is really about daily choice. It’s a daily showing up. It’s a daily commitment to both the internal and the external work. And it’s also a really important place to be in your journey of building a business. And it also can be a really exciting place to be if you choose to see it as that.
Because what it does mean is that it really means growth. It really means transformation. And it really means all of the things that are required in order to up-level yourself and to up-level your business.
And so I’d encourage all of you, I would offer you that the question really needs to be who am I being right now in my business? And answering that question honestly. What is the result of that person? What is the result of who that is?
That is a really, really important question to be asking. And so along with this, as I mentioned this earlier, the idea, this true – having this true understanding of where results come from is really, really critical. And as I observe what’s going on, I think in general, there is at least across the board, a pretty good intellectual understanding of this.
So I think there’s a general intellectual understanding of the concept that we all create our results. But where the rubber really hits the road and where the difference really comes in is that I see that there is a much bigger gap between the intellectual knowing of this versus the true embodiment of this, versus the true and deep knowing that hey, I am really in charge of my results here. I am really in charge of the results that I create in my business and in my life.
And so this goes well beyond an intellectual understanding and it comes from a level of practice. It comes from a level of experience. And really, the goal is to be able to embody and take 100% full responsibility.
And so looking back at previous episodes that I’ve done, I’ve talked in depth about these concepts. I’ve talked about the identity shift; I’ve talked about the importance of commitment and what being committed really means. I’ve talked about taking full responsibility and what that means.
So I’d encourage you all to go back and listen as I think those are really important topics and they’re important episodes. And the main thing that I think is important to understand is that unless you are doing your work, unless you are growing yourself by either putting yourself in a program and doing your own self-coaching, you have to understand that the level of results you have is in direct correlation to your thoughts, to your belief systems.
And so if you want to change your results, you have to be constantly challenging your beliefs. You have to be constantly challenging your thoughts. You have to be engaged in the work; you have to be showing up. You have to be engaged in your own process of growth.
And so this is why in my own journey, I have always been engaged in some type of growth, in some form of growth. Whether that was being in a particular program or mastermind myself or working with a particular mentor. And I will tell you that for, it has been a daily process. It has been a daily thing that has been a part of my journey.
And I want to make a quick note on this because I feel called to. And I want to say that I don’t think that there is a certain routine, we’ll just say, or a certain set of habits, or a certain way that this needs to look. I do think that there are definitely routines and habits and things that we can establish that will help support that.
But what I would really challenge you all to think about here is that for me, this isn’t about just having, for instance, a perfect morning routine. While yes, I do think it’s important to have a solid morning routine, and for me, mine does include self-coaching. It includes daily self-work.
But I also want to tell you all that it’s also just who I am. Meaning I don’t just do my daily rituals, I don’t just do my daily work and check a box and think I’m good and move on for the day. For me, it is an embodiment that is there all the time, it’s a way of life.
And it’s something that I engage in daily and I do have rituals, I do have habits, I do have things that I do on a daily basis that allow me to engage in my own work. And so I think that’s one thing that’s really important to establish for yourself. So definitely find what works for you.
So now that I’ve shared some of these observations, I want to talk about some specific things that I think are going to be very important moving forward, especially as it relates to building a coaching practice.
And so the first thing that I think is going to be absolutely critical for you if you’re building a coaching business is to number one, first, understand what game you’re playing. And I’m using the term game specifically because the way that I see this industry, the way that I see building a business in this industry is in many cases, it’s very much like playing a professional sport.
It’s very much as if we were playing – pick your sport. Whatever that is. and so I just see so many correlations between building a business and playing a sport. And the reason I bring this up first is because I think in many cases, I think there is a gap in knowledge. I think there is a gap in recognition of this. I think there’s an overall misunderstanding, at least to a degree.
And because of this, unfortunately, I think there’s been a bit of a smoke and mirrors that’s been created in the industry. I could say magical thinking, we could also call it, where there can sometimes be this idea that all it takes is just one thing, that all it takes is just calling yourself a coach and you should be able to build a highly successful business just because of that.
And unfortunately, I think that there are a lot of people who in many ways are a bit seduced by this industry who are not prepared for what it really takes to grow a successful business. And in many cases unfortunately, they’re also not willing to develop the skills and the resiliency that it really takes.
And so I will say that, but at the same time, I do believe that if you are truly committed to building a successful practice, if you’re truly committed to doing your work in the world, I think you have an amazing opportunity. And I think you have an amazing future. You can choose an amazing future in this industry.
But in order to do that, you also have to be willing to play the game. You’ve got to be willing to practice. You have got to be willing to put the reps in. You’ve got to be willing to lose. And you’ve got to be willing to take some risks.
And you also have to understand that this is a long game. This is 100% a marathon. It is not a sprint. So being willing to be in that process and understanding the necessity of that process is step number one.
So the next step I would say is going to be essential as we move into the new year is for you to continue to hone your craft. So what I mean by this is mastering your craft. And here’s why this is important.
Earlier, I spoke about the fact that more and more people are coming into the industry. I think we can all see that. And while I won’t go as far to say that the industry is saturated because I don’t believe that; I think having a certain level of mastery is going to be really important.
And that is because first and foremost, you are paid to help your client get results. So because of this, part of this has to be working on your craft. It has to be working towards and becoming the best coach that you can be.
But here’s why else this is so important, and I would actually argue that this is just as important as your ability to help your clients get results. And that is the more that you master your craft, the more that you work on becoming a stronger coach, the more confidence you will generate.
And this confidence is going to help you in so many other areas of your business. And for example, when you have more confidence in your skill as a coach, it allows you to market your business more powerfully. It allows you to speak and connect more deeply with your clients. It helps you to be a more powerful coach to yourself. So mastering your craft, both from a technical perspective but also from the perspective of building your overall confidence in your coaching ability is huge.
So I think the next piece that I think is going to be a non-negotiable as things move forward is your level of business acumen. And it’s the level that you choose to develop your business acumen. And so when I started out today’s conversation, I talked a lot about this. The importance of knowing how to actually run a business profitably, how to understand how to really scale a business.
I will just say that there is a lot more underneath the surface to this, my friends. And because our technology is shifting so rapidly, because there is so much distraction and noise, it is really, really important to be able to discern, to be able to understand for your business what the actually needle movers are in your business.
And unless you really understand what the main pillars are, unless you really understand the levers that make a difference when you’re growing a business, what will happen and I see this time and time again is you’re likely going to spend a lot of time chasing shiny objects.
And when you’re doing this, what’s essentially happening is you’re wasting the most precious asset that you have, which is your time. And it’s also a huge potential for lost revenue. So having solid business acumen, really being able to discern between the things that matter, between the things that don’t is going to be huge.
And it’s already huge. But I think that as, again, we move forward, it’s going to become more of a priority. And the next element that I think is going to be essential in this process and will also directly impact your level of results is your ability to effectively communicate.
Because I want you to think about this. We are essentially living in a virtual culture. So with that, our ability to communicate both in written form and through speaking is only going to get increasingly important. And I would say that with this, I would consider how you’re also communicating within your brand, how your “storefront,” so things like your website for example, all of the things in which you communicate to your audience, you communicate to your clients, I think it’s only going to become more and more important as we are competing not only with more supply in the market but just more and more distractions.
And so your messaging and how you communicate is going to be the difference between whether or not someone listens to you and whether or not someone sees you as the solution.
And lastly, I will just say to this that the final element that is 100% a non-negotiable is always going to be working to master your own level of mindset. And going back to what we talked about earlier, it’s really about the who you are being in your business.
And I don’t think that that process ever ends. So knowing that it’s a continual process, it’s one that you do need to choose. You need to sign up for that, and you have to at some point start appreciating it for what it is and reach the understanding that this all really is about the process. It’s not about the destination.
Alright my friends, I hope you have an amazing week. I’ll talk to you all again soon. Take care. Bye-bye.
Hey, if you’re ready for a real breakthrough in your business and want to grow and scale your business to at least six figures or more in annual revenue, I invite you to apply for my exclusive program The Mastermind at amandakarlstadcoaching.com/the-mastermind. I look forward to seeing you there.
Thank you for listening to this episode of The Life Coach Business Podcast. If you want to learn more about how to build, grow and scale your business and accelerate your results, visit amandakarlstadcoaching.com.
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