Is financial health enhancement a priority for your coaching business? Want more cash flow and benefit this year? Okay, the guide is for you, then.
The solopreneur or consultant / coach model can be great for lifestyle, but creating financial freedom can be difficult to scale up that business model.
However, if a plan is in place to take the money earned as a coach / consultant, manage living costs and then invest in cash-flow producing assets, then it would still be possible to achieve financial independence.
Want to know the secret to creating a coaching company which is financially successful? Ready to book! (Yes we ‘re serious.)
Now, before you start believing stuff and clicking on a new tab, we encourage you to put your curiosity cap on and hang around (for your own benefit).
In this guide, we will go over everything coaches need to know about using bookkeeping to create a coaching business that is financially healthy.
Giving accountants permission to be human
Intend2Lead describes his goal as “giving accountants permission to enter the Dimension of Potential, the place where fear is no longer the enemy and love reigns.” Elliott further explains this as leaders “accepting who they are and who they are at the moment, trusting in who they are becoming, and appealing to the greater version of who they are to help address the query. Elliott says her clients have adjusted well, telling her that they feel like they are “allowed to be human… to be weak, to care about other people, and actually to bring my caring self to work… that such ‘soft skills’ are not just allowed in the workplace, they are vital to success.”
However, Elliott says that the timing of her research could not be more important because of how younger professionals look at their jobs and work life at a time when “humanity is waking up.” She encourages early-career accounting professionals to accept self-leadership — the practice of getting a good sense of who you are from inside, knowing what is possible.
In fact, this environment allows these professionals to lead as they rise through industry ranks with their head and their heart.
Establishing the coaching mindset
The most important aspect of Elliott ‘s work is helping to develop in accounting organizations a culture of coaching and feedback. Often, the first step is to collaborate with the organization, understanding what the leadership wants to build, evaluating what works well, and determining what needs to improve.
Next, Elliott works with leadership to move from an industry-wide problem-solver mindset to a coaching mindset. Indeed, accounting professionals are hired to solve problems for their customers, but this mentality runs counter to what is needed to develop other people and create innovative solutions. For example, to achieve the latter, the leader is a self-discovery facilitator with an underlying belief that each person has the answer within himself, and it is the responsibility of the leader to allow the answer to be discovered. There are three elements in the coaching mindset at its core: