It can be hard to spend money in the early days of your business. Every dollar counts and there are so many things that demand your money it can seem overwhelming. So hiring a business coach is just more money down the drain right? No. Do not underestimate the opportunity cost you are sacrificing by "saving a few dollars" verses investing now for bigger gains later. Here's 6 reasons you should hire a business coach for your fashion brand and a few coaches that might be good.
1 | You're Spending Hours Reading and Researching
When you first start a business, it's like going back to school. You begin reading every book and blog, and listen to every podcast. You basically turn into a sponge. It's a great time because there's so much you need to learn about business and, unlike when you were in college, you actually have real life application to test your learnings and grow. But beware, all of that research, implementation, trial and error takes a lot of time that is better spent on sales and business development.
Bottom line: Business coaches save you time by guiding you down the right path the first time.
2 | You're Overwhelmed by What To Do When
Another fun fact in the early days of your business is you are in charge of everything. You plan and execute the production, sales, marketing, press, and business development. And with only 8-12 productive work hours per day (depending on your focus that day) choosing what's best to do next is actually quite hard and to be honest, you might not know.
Bottom Line: Business coaches have been there and can warn you of time-sucks, pitfalls, and shortcuts to help you achieve your goals.
3 | You Can't Crack Instagram and It's Killing You
The Instagram Algorithm has become a four letter word to many an entrepreneur. Are you abiding by the "best practices" and still feeling like you're getting no results? To make you feel better, the algorithm is elusive to everyone, but be sure you place it appropriately on your anxiety scale; Instagram (and social media) is just the top of your sales funnel. This means it's your brand awareness builder, NOT YOUR SALES.
Bottom Line: For a comprehensive Instagram program, we recommend Dean Street Society's Instagram with Intention which truly covers all of the best practices, practical execution, and strategies to build your following.
4 | You Aren't Taking Email Marketing Seriously
Email marketing is still more profitable than any other digital marketing. This is because you are regularly talking to warm sales leads about your business and you own that list. Unlike social media, where if Facebook went out of business tomorrow, your Instagram and Facebook following would be gone FOREVER. You'd have no claim over your hard earned following and no way of recuperating those contacts. That is scary.
Bottom Line: You need to get serious about your email strategy and for a jam packed course on only this, we recommend Jenna Kutcher's Email Building List.
5 | You Need Someone To Bounce Ideas Off Of
Sometimes it's as simple as needing someone to brainstorm with. Some of our best ideas for THR3EFOLD have come from brainstorming sessions with colleagues in the industry. They bring fresh perspective mixed with industry know-how to create rich and profitable ideas. If you don't have a way to regularly tap into this, you need to prioritize finding it.
Bottom Line: Your greatest ideas are at the end of a brainstorming session, and business coaches give you the fresh perspective you need for breakthrough.
6 | You're Too Close to Your Business
Have you ever explained your brand to someone and they don't understand? It could be because you aren't explaining it right and that is a very common problem with entrepreneurs. You are so close to your business but when you describe it to others you aren't saying it in a clear impactful way that sinks in. You have 10 seconds to talk about your business in a networking conversation, so you want to be sure you are saying the right thing that both captures your target customer and alleviates their deepest pain points.
Bottom Line: The fresh perspective business coaches provide also can identify problem areas in your business and how you can fix them to grow.
How You Can Afford a Business Coach
You may be thinking, these are all great reasons to hire a business coach for your fashion brand but I can't afford it. This is why we built our Coaching Club program. It's a 6 month brand mentorship program that gives you weekly calls and unlimited access to our Founder, Jessica Kelly, for feedback and consulting, guest coaching from experts in the fashion industry, and training in the best strategy for Press, Marketing, Sales, and Crowdfunding. You can learn more here.
Applications for the Coaching Club close July 28th. Apply today to start growing your business in time for the holidays.