Why service businesses need contracts

Posted October 2nd, 2009 by admin and filed in business
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When I first started this particular business, it was the first time I was providing a service as opposed to providing a product. What I learned through trial and error is that not having a clear structure for how often you will meet with a client and when you will get paid can create a lot of problems for you. I’d meet with clients once a month, if I was lucky, and I felt like I was chasing after them to get paid. That’s not a feeling I wanted to have and it contributed to a lot of stress for me.

When I changed over to a contract, where I made it clear a client had to meet with me for at least three months and would need to meet with me 2-4 times a month, as well as establishing when I’d get paid, I felt like something snapped into place. I was able to sign a client on who was more than happy to put the time aside to meet with, paid me up front, and otherwise made that aspect very non-stressful. Additionally, he appreciated having the contract, because it provided him a good idea of what each party was expected to contribute.

There are some business coaches who will say that you shouldn’t use a contract and that it’s up to you to prove yourself to the client. Frankly, these coaches have probably never owned a business, or they would realize that not having a contract is more harmful to you and the client, than helpful. The client doesn’t want to be chased after and you don’t want to be chasing them. You also don’t want the stress of having to figure out when you’ll be able to schedule the next meeting. If they’ve paid upfront clients will definitely make time because they want to spend their money for nothing.

If you run a service business and you don’t have contract, consider getting one and using it. It will make your life and your client’s life easier and also help you both stay on track with what it is you’re doing for the client. Additionally if problems do arise the contract will be a legal document that can be used to help resolve the situation. It’s a win-win for everyone.

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Treating your business as a living entity

Posted February 25th, 2008 by admin and filed in Life coach, business
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Something I like to do with my business, particularly with the icon for it, is use that icon to meditate and in that meditation create an environment where I can interact with my business. I treat my business as a living entity that I want to feed and take care of so it can grow. I’ll even ask my business questions as far as how I can help grow it. The suggestions are usually quite helpful. For instance getting my first newsletter out, or joining the local chapter of a coaching association.

This approach is helpful because it creates an “objective” identity for the business, plus gives me a chance to dialog with the concept of the business and run ideas by it. Of course, I still work with other life coaches, but making my business into an entity I can dialog with provides a personality and sense of life to my business. It adds to the reality I’m seeking to manifest.

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Building a Business and Continuing Training

Posted February 25th, 2008 by admin and filed in Life coach, Training, business
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The last couple of weeks have been busy. I had a convention I travelled to where I co-presented a workshop on Manifesting Wealth in your life. The presentation went really well. People came away feeling like they’d learned a lot about how to manifest wealth, how to recognize their internal attitudes about it, etc.

Besides the convention, I’ve been gradually putting different elements of my life coaching business together. This saturday I set up my business bank account for it, to go hand in hand with the paypal account I have set up. I sent out my first newsletter last week, which also felt good. Tonight I’m going to a two hour workshop, which integrates tarot into life coaching.

I’m also thinking of going to additional training, both for the marketing aspects, but also further development of my skills as a life coach. There are several seminars coming up in April that have perked my interest. The marketing skills, in particualr, are reallyi mportant, because they help you build a business. I’m reading a book: Four Steps for how to market your life coaching practice, and following the steps. The book is helping, just in terms of giving me an outline of steps to follow.

Speaking of books, I’m also going to start using this blog to do some reviews of life coaching materials and related work. Be on the lookout for that in the near future.

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