How to 5X a Service-Based Business
I often get asked by service-based business owners to help them develop strategies to scale their companies. These clients often have 5X, 10X, or more goals for their business.
Now, of course, you may be asking yourself - why can’t they figure it out alone? Here’s the deal - usually, these business owners already have various ideas of how they can scale their company - but because they’re so close to the business - it’s often hard for them to see the forest for the trees.
By enlisting my services - I can help them more quickly craft actionable plans that are both simpler and easier to implement.
In this article, I’ll share what is needed to 5X your service-based business.
Here’s what I’ll cover:
In this article, I’ll share with you the answers to some of the most common questions about what it takes to be a business coach.
How to 5X a Service-Based Business
1. Clarity
Towards the end of the month, I sat down with a client to help them craft their 5X plan. As with most entrepreneurs, many avenues and ideas could get the client to scale their business to the next level.
Only one avenue did so while honoring the client’s other life priorities. Using my honed coaching skills, I was able to help the client see and commit to that option.
So the first step to 5X-ing your business is to get clarity on:
- the easiest way to money
- your bigger goals for life and business
2. Mindset
While mapping out the quickest way to drive higher revenue, we uncovered a few limiting beliefs that were tripping my client up. Through the co-creative process of coaching, I was able to help them shift and release the hidden obstacles that were going to prevent them from taking action.
Everyone has one or more self-imposed limits that keep us stuck – it’s essential to uncover those and shift them to ensure that we can take confident action.
3. Know Your Numbers and Focus on Facts
Toward the end of 2024, I released one of my revenue streams. Although it felt like a great revenue producer, once I did a thorough analysis, I realized that it was not lucrative at all.
Knowing my numbers and focusing on what they told me vs. what I was thinking or feeling clarified exactly what I needed to do.
4. Create an Actionable Plan
Once my client understood their quickest and easiest way to 5X, we crafted a plan they could implement immediately.
The plan included hiring and business development strategies, all chunked into steps and actions.
Many people resist developing an in-depth plan as it can feel restrictive or like a waste of time. But here’s the deal: without a vision and plan, we waste lots of time. When we have a plan, we immediately know where to start, and even if we deviate from the original plan, knowing where we want to go provides us with a target to aim for.
5. Accountability
A study by the American Society of Training & Development found that folks are 95% more likely to succeed when they enlist a third-party accountability partner.
How to get your unique 5X Business Plan
Are you ready to get your fastest and unique business plan to 5X your business?
Let’s discuss how I can help you:
Craft a unique plan that honors both personal and professional needs
Hone in on the strategy that will ensure your quickest and most straightforward way to scale
If you liked what you read here, here’s how you can get more support from me to become the best entrepreneur you can be:
Accelerate your growth with this free handy download
Read my bestselling book, The Up Level Project
Work with me: Book a 1:1 consultation with me here
Here’s another helpful article that you may enjoy: 7 Key Business Areas That Accelerate Growth