Teresia's Blog

As a blossoming MOMpreneur you get creative!

One of my greatest passions as a coach is to give back and help fellow coaches build their business. I started my business in 1996 when very few people knew what success coaching was. Many times I was asked are you a coach of a sports team? No “what a fitness trainer does for your body I do for your mind” was my common response. I built my business very quickly, (a huge dose of passion and an innate knowing of business savvy ) I had a full practice in my first year and was making 75,000.00 annually. It was a natural next step to share what was working for me with other coaches.

We have been offering the Passion into Profit program : (PIP) a customized business building program for coaches, for more then a decade. Embarking on my “baby leave” we have decided to make the PIP home study program available – a great way to serve coaches who are eager and ready to take their business to the next level NOW. In addition a great passive income source for my business.

I just had two inspiring conversations with two coaches who purchased the PIP Home Study program! Visit www.passionintoprofitforcoaches.com to find out more.

Or email us at info@passionintoprofitforcoaches.com  to book your consultation to find out if it is the next best step for you.

As an entrepreneur there are many ways to serve our clients.  Identify your ideal client, be clear of their greatest needs and have many options of how to help them meet those needs!

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I just completed a coaching session with a client who is taking her business from Virtual Assistant services to supporting her clients in Internet Marketing Strategies.

We talked about the important of having a clear concise answer when individuals ask you what you do.  Marketing starts when someone asks you “what do you do?” When this happens, what do you say? More importantly, how do you feel?

This is a pivotal moment; it is a chance to communicate your business to a captive audience that could very well become a paying client or a referral source.

Do you freeze up? Feel nervous? Walk away thinking, “I could have handled that better…”?  Do you know what your company stands for? Can you explain it with conviction and confidence? This is key, as entrepreneurs, one of our biggest challenges is getting the word out about who we are and what we do, and doing so in a way that makes people want to work with us.  If you don’t sound clear and confident when you speak about your own business, how is your listener or prospect going to believe in your work?

Your credo is the heart of how you represent your work to prospects – both in print and in face-to-face interactions. If you find networking a bit uncomfortable, it’s probably because you don’t have a strong credo to leverage in conversations with strangers.

As an entrepreneur it is important that you feel excited to share who you are, what you do, who you love to work with, and how you make a difference, this is the beginning of attracting business, the business you want. We like to say that a strong credo is the window to the soul of a business. In that one minute (more or less), you stand in the gateway to more clients, more business, more profit and more success.

To help you wrap your mind around this concept, here’s is an example of my clients credo:  

“My name is Tracey Ehman and I am a Virtual Marketing Director.  I work with established female entrepreneurs who are tired of watching their competitors get the edge through internet marketing. I help them move ahead of their competition by determining a strategy using social media, blogging and a variety of other online marketing platforms.    We work together to assess your goals, create a strategy and design a process to achieve them”.

 ~ Tracey Ehman, Your Virtual Marketing Director, http://www.done2atee.com/

 Make a commitment to yourself to devote time to developing or improving your credo.  Having a credo that resonates with your soul and captures the essence of your business is the first step in creating an effortless and fun marketing campaign.

 Visit www.passionintoprofitforcoaches.com for a complimentary recording on creating your credo. (Go half way down right hand column)

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Being self employed there is no such thing as maternity leave, at least not paid maternity leave. Well….that is not entirely true, if you are savvy enough to set your business up to create passive income, you could have paid maternity leave.  When we decided to start a family I became very motivated to have a passive income stream.  As I prepare for taking two months off completely from my business to be fully present as a new mom, I am taking some time to review my financial situation.  I have not quite reached my passive financial goals, but what I have created makes a difference!

Is it time for you to focus on passive income? If you are self employed why not incorporate passive income into your business plan.  Let’s first look at what is Passive Income? Passive income is money that comes in after you have completed working to get it.  It is income from work you have already performed versus work you are currently doing. Therefore, a passive income stream is a continued flow of income from a completed task.

One obvious source of passive income that illustrates the idea behind a passive income stream is a savings account.  You open a savings account with a certain amount of money, and that money gains interest as it sits there.  You never have to deposit any more money in order for that initial amount to continue earning interest for you.  Obviously the more money you deposit into the account, the more money you will make on it.

With access to the World Wide Web it opens up many options of passive income streams you can include in your business model.

Here are a few.

1. Affiliate Programs – passive income is derived from setting up a web site that pre-sell companies’ products or having other companies sell your products.

2. Information Products – ebooks, CD’s, books, ecourse, etc

3. Advertising commissions – on your website, newsletters or ezines.

4. Pay Per Click Campaigns – you can make money instantly by setting up a Google AdWords campaign for your product or affiliate program.

5. Referrals – create a network of people that offer services or products related to your business, set up an alliance where you receive a commission every time you refer someone.

6. Create a membership site – if you are an expert in your field and can provide the resources, knowledge and support, you can charge a monthly fee to gain access to your membership site. Because you are an expert in your field, you can also recommend other products and services to your members, from which you earn commissions.

7. Have associates – having a team of people working for your company that you receive a percentage of their service fee. If you are a coach or a self employed professionals check out our Creating your own coaching company ebook on how to incorporate associates as part of your business.

These are just some ideas of possible passive income streams.  Get together and brainstorm with your mastermind team (you have a mastermind team – right? If not read our blogs on the power of being part of a mastermind team) and decide which passive stream would best compliment your business and enjoy the benefits of this extra income.

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This month I have gifted myself with a half day session with a consultant who will be supporting me in gaining clarity on my business projects for the next year. In May I will be spending four days with my mastermind team, masterminding around our personal and professional goals.

I don’t know about you but I love these kind of sessions, taking the time to be creative, thinking outside of the box, dreaming, it fills me up and continues to pull me towards my ultimate vision for  my life, not to mention when running a business it is important to build the habit of regularly taking time to debrief, plan and strategize about your top priorities. 

 As I prepare for these strategizing sessions I realize how critical the act of debriefing is.

Debriefing is a systematic process that gives you the opportunity to reflect on your experiences, activities, and past results and identify lessons learned.  In turn this enables you to gain the knowledge and insight to make more effective decisions and gain clarity on what has to happen to create what you want in your business.

 I have just spent the afternoon debriefing my business and I invite you to do the same.

 Debriefing can be used in many different ways.  You can debrief an activity; for example, you may debrief a presentation you just did, or after a client completes you may decide to debrief the coaching relationship.  I encourage my clients to make debriefing a regular part of “working on their business”. Debriefing your business at the end of each month will set you up with clarity and new insight for the next month’s priority projects.  Or you can debrief your whole business, just as I did to maximize my planning days.

 Debriefing can be a simple and fun process.  There are 8 categories to explore.  

1. Brief summary of the facts (objective only, no evaluations yet)

2. Key accomplishments (what, for you has been a key

accomplishment – look for little accomplishments, not just the big ones)

3. What has worked, or is working (please be specific)

4. What didn’t work or isn’t working (be more specific here)

5. What is missing (be most specific here – keep asking “what is missing such that that is missing,” driving it down until you get to a commitment, a priority or a structure . . . something that you have access to correct)

6. What opportunities do you now see (either new ones or to re-assert the one that may have already been there)

7. Where to from here (next action steps)

8. Anything else to complete the picture

 You may choose to do this process alone, or invite your virtual assistant to be part of it, or perhaps your coach or maybe your mastermind team. The key is make it a regular part of your business so that you set yourself up to leverage, maximize and capitalize on all your efforts and enjoy the results you truly desire for you and your business.

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I get asked quite often “Teresia how did you build your business so quickly?”

In addition to a strong vision, passion and the willingness to step outside of my comfort zone on a regular basis, speaking is what catapulted the immediate success of my business.

In the beginning of my career I would speak to anyone who would invite me. I will never forget my very first talk. I recruited a friend (I am still indebted to her), bless her heart she spent a weekend with me (yes, the whole weekend) helping me construct my speech – we talked for hours about the secrets to success.

I spent countless hours making sure I had the perfect speech. Back then I was really frightened to speak in front of a crowd and fell into the trap that many of us do when stretching out of our comfort zone of over preparing. I am happy to say the talk was a success and I was well on my way to sharing the power of coaching and building a successful coaching business.

Fast forward 14 years of being a coach, many life lessons under my belt, the opportunity to learn from thousands of clients and now I am excited to be embarking on the journey of taking my speaking career to a new level. Today speaking is not only a marketing vehicle and a powerful way I can touch more lives but is also becoming a strong revenue generator for my business.

Part of my inspiration to take the art and business of speaking to a new level comes from working closely with my friend and partner of the Triple M Mastermind, Cheryl Cran. Cheryl is an author of 3 books, a consultant, a coach and a highly sought after keynote speaker. Cheryl has been speaking for 15 years and now shares her trade secrets with others. Cheryl offers a program called Your Keynote Coach with a special Keynote Queen event on May 6 & 7, 2010.

You know I am a proponent for not reinventing the wheel – (learn from someone who is getting the results you want). If you want to be an impactful, successful speaker, Cheryl is the one to learn from! I am excited to share that Cheryl will be joining me on April 19th for a FREE call where I will be interviewing her on what it really takes to be a successful speaker.

If you are a coach, a solopreneur, an entrepreneur or are already speaking, this call will be a catalyst for you to take your speaking to the next level.

Join us on Monday, April 19th at 5:30pm PST/8:30pm EST

To register, please click here.

Whether you plan to speak for free or for a fee or both you MUST have a solid speech that doesn’t just allow you to be up in front of an audience but that strategically helps you build your database, your client base and your revenues.

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