Do You Know Your Business Anatomy?
Updated: Oct 20, 2019
I know you think you're running a business. I mean it certainly feels like it, right? You sell your service, engage in marketing, invoice, and pay bills, right?? But the fact is you may be simply self-employed, or operating a very expensive hobby.
Remember... if you're self-employed, you're still an employee! You have to show up for work. You have to grind it out. You have to get the work done yourself. You are an employee. You just happen to be employee of a business that you started!
What you really want to do is make sure you're building a true coaching business - and that starts with understanding the anatomy of a coaching business
Once you understand that you can easily troubleshoot and diagnose problems. You can can develop processes to hand off to others. And you can start to pave the way for a business that allows you to serve your clients, but also detach yourself a bit and really find the freedom your looking for.
So let's go over exactly what you need to do to make sure that you are creating a business and not a hobby.
Let's take a look at a coaching business from its highest level and bring it down to eye level. These are the components that you need to know in order to understand anatomy.
Understanding anatomy makes perfect sense. When you go to the doctor for example, she uses her understanding of the human anatomy to troubleshoot, diagnose and help solve problems.
The same thing holds true with your business.
You have to know the anatomy of a coaching business.
Your coaching business really has three different key components and when I work with clients in our program this is what we cover
Your coaching model
Your marketing and sales strategy
Your business mechanics
You need all of these three in order to create what you're really looking for which is freedom. That's really what you're looking for, right?
But that's high-level high level and if we only understand it at that point what we really have is a bunch of activity
The first thing you should know is that no matter what kind of business you may look at - whether it's a bakery, a steel plant, or a coaching business - all businesses are simply a series of processes linked together to create customer satisfaction or client satisfaction. This is true without exception. And understanding this can be a game-changer!
Once we start seeing your business as a bunch of linked processes, everything else starts to change. And the way I usually reference the type of processes you have is by using the word SOLID. Your coaching business has:
Sales and marketing processes
Operational processes (processes that actually deliver your service)
Internal Support Processes (admin, accounting, personnel, etc), and
Direct support (client support)
These are the basic categories of processes that you have and once you get that concept, you can start looking at these different categories of activities and disecting them in order to look at their anatomy!
If you pull one of your processes out, open it up and look, you can easily diagnose
and fix any problem within it. You can also polish up the process so you can hand it off to someone else!
So let's take a look at the anatomy of a process
Let's take a sales process. If we were to cut this thing open and look at it - and see what's on the inside we would see it's anatomy! We would see that like every other process, we have....
Inputs and outputs. This is what all processes do. They convert one thing to another. Your sales process, for example converts leads into clients!
People. Every process has people who are performing some activity. it do they know what they're doing do they need trained do they need education do they need brought up to speed on what's going on in this process
Defined methods/Documentation. I know....sounds boring, right? But every solid process has documentation, methods, or procedures that you follow. You can't effectively delegate stuff if you haven't figured out exactly how things are supposed to work and document it.
But don't worry. By document I don't necessarily mean written out instructions. You can do a ton of it using videos. In our program we talk about a bunch of different tools to do that, but it could be video.... it could be documentation - however you want to record how something's supposed to be done. That's how you get your processes in line. It allows you to 1) one see what's not working and 2.) allows you to delegate those things when your ready.
Tools and Resources. Every process has certain tool and resources that are needed in order to make the efficient and effective. You sales process for example may have a database for leads, or a CRM. Your marketing process may have an automated email program like ActiveCampaign or something similar. It is important that when troubleshooting a process, you can see if you are using the right "tools of the trade"!
Measurables. Finally solid processes have metrics, or measurables. These are the ways you measure success within that given process. It's how you know if this process is working. In sales for instance, you may measure your conversion rate, or how many client you bring onboard from "x" amount of discovery calls.
So all of your process should have these characteristics - this anatomy. If you can look at one of your process, whether it's in Sales, Operations, leadership, internal support, or direct support to your customers - and see it's not working; or if you don't seem to be able to separate yourself from a certain process ...... your homework is
1. Take a look at your processes and see how they work within your coaching business number.
2. Find a process that you're spending way too much time in when you should be working on something else; and
3. See which characteristics within the anatomy of your process needs to be developed so you can step away and separate yourself, and find some freedom!
I'd love to hear any comments you have right here!
As always feel free to hop in our Facebook group and we can talk about this a bunch more! You can do that here.