The Abundant Practitioner Podcast By Dr Tilean

Ep 46: Embracing Numbers: How Metrics Unlock Business Growth

• Dr Tilean • Episode 46

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Today, we peel back the layers of business metrics, showing you, my fellow psychologists, therapists, and counsellors, just how embracing the financial heartbeat of your coaching practice can lead to monumental growth. With shared personal anecdotes and revelations from my journey, I challenge the unease surrounding numbers and transform it into a powerful ally. Picture your business blooming as you fine-tune your strategy with the precision of a financial maestro, all while staying true to the ethos that underpins your work.

Moving beyond the fear of finance, we venture into the realm of the 4B marketing framework, where measuring growth becomes an art form. Here's where you'll discover the delicate dance between quantitative mastery and the qualitative touchstones that define your business. It's not just about spreadsheets and statistics; it's about nurturing connections and weaving value into every aspect of your service. By the end of our time together, you'll emerge equipped to track your triumphs, pivot with purpose, and strategise with newfound confidence. So tune in, enrich your entrepreneurial spirit, and let's chart a course to a thriving coaching practice that resonates with success and satisfaction.

Thank you for joining me today on The Abundant Practitioner Podcast. I’m so glad you carved out this time for yourself because you 100% deserve soul-nourishing and soul-aligned success!

If you’re keen to dive deeper into my world, here are my socials where you can learn more about how I specifically help Health & Wellbeing practitioners start and scale their own soul-aligned and profitable coaching business. As a fellow practitioner who has been operating in the online coaching world since 2015, I’m excited to help you successfully navigate it too. You can also reach out to me on these platforms, if you have any questions!

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Thanks again for tuning in, and I'll see you next time on The Abundant Practitioner Podcast!

Speaker 1:

Welcome to our podcast, designed for psychologists, therapists and counselors who want to take their business online and live a soul-nourished and profitable life without compromise. If you want to know the secrets used by practitioners just like you to navigate the global e-learning market successfully, then you're in the right place. I'm Dr Taleen, a chartered psychologist, business mentor and your host, and welcome to the Abundant Practitioner podcast. Hello, so welcome to another episode. So I'm going to be talking today about numbers in business, right, it's very important that as you build out your coaching business, as you build and scale your coaching business as a practitioner, that you have your eyes on some metrics, right, on some data. And it really surprises me although it doesn't right, but the number of people that have a business, that move in their business forward and they just have got their head in the sand when it comes to numbers, right, they have no idea. They feel like you know, I want to develop my business from this place of ease and flow and soul nourishment that that means not looking at numbers. Well, let me tell you something that one thing that you must do as a CEO is have your eyes on the numbers, and I'm not saying that you know, looking at metrics in a way where you're like, oh, what are the numbers? Like let me scramble, scramble, find out the numbers, and like, use it as a kind of way to either put yourself down or push yourself hard, right, and because I also equally don't feel like nothing great comes out of the push zone, I'm like push, push, push, drive, drive, drive, go, go, go. But you do need to know your numbers. Ok, and I want you to know in this episode, exactly what metrics do I encourage you to look at If you are going to build and scale a soul nourishing and profitable online coaching business. Ok, because that's exactly what I have and that's exactly what I help clients do of mine, and that's what I want you to have as well.

Speaker 1:

So, if you are watching this and you are a health and wellbeing practitioner, maybe you're from the background of psychology or social work or nursing or health coaching or whatever that might be. Maybe it's yoga or hypnotherapy or whatever. You've come across me for a reason and you are, I'm going to assume, that you are looking to create an online element to your business, a coaching element to your business, where you are able to really make a difference in terms of the way you work and so that you're not limited by location, you're not limited by the amount that you charge or charging per session and I can cover that in another episode right but that you are actually really moving your business forward in a way that makes sense for you as a practitioner and a way that makes sense for your clients as well, and a way that gives your business profit margin as well and in a way that makes your sales, your business has longevity and is scalable and is sustainable and all other things Right. And I'm here to tell you that you need to know your numbers, and one of the mindset challenges that come up sometimes in people is like I hated numbers, I hated SPSS.

Speaker 1:

If you know what that was, or know what that is right, yeah, or I was no good at maths, or I'm no good at numbers, or what does pi equal? Right? You don't need to know any of that stuff to have a great handle on your metrics for your business. You simply need to know how to count right and how to add up and maybe how to subtract right, maybe a little bit of division, but like, literally, we're not talking about A level maths, we're not talking about degree level maths. We're not talking about any of that. We're talking about basic mathematics, like literally what I am, you know, talking with my five year old with right One terms of like let's work out right, seven and two is what? Right? Yeah, okay, maybe you'll play with bigger numbers, but we're just talking about adding up.

Speaker 1:

And so one of the things that can come up as a trigger in your mind is like I'm not gonna look at the numbers in my business because I'm no good at maths, or I'm not gonna look at the numbers in my business because I hated SPSS, or I don't understand numbers. Might be the story that you're telling yourself. Well, I don't understand business and numbers, so I just wanna do the thing that I'm great at, which is help people, right, and I want you to really reframe that message to yourself. For you to be able to scale your business, for you to be able to fall in love with the growth of your business, for you to be able to fall in love with being the leader of your business and understand the metrics in your business, which understands how big you can grow, your mission and service, and all of that.

Speaker 1:

I want you to change the story that you're telling yourself from I'm no good at numbers, or that's not for me, or I just wanna do the part of the work, that is, just show up and help the people, right? I want you to be able to. My hope is that you can comment below this right, yeah, right, and say, like, I love numbers and numbers love me, or something like come up with a new mantra, because you can absolutely have a great handle on the numbers in your business. And there's a couple of numbers, or maybe more than a couple, all right, but there's some metrics that I want you to absolutely love looking at in your business, because I want you to see these numbers grow and I want you to be able to see, if they're not growing, what might need to happen. And I think it's very important for you to be able to recognize these numbers as a way of giving you feedback and information about what needs to happen next, right, and so here's some numbers.

Speaker 1:

Here's some things that I talk to my clients with right and with my clients. I work with my clients for a whole year and we wanna see growth, right. So how do we measure growth? Great, qualitative data, right Data by them explaining how they grow in and the amazing changes that have happened in their life Amazing. But also what's great is when we have quantitative data, like actual numbers, right, natural numbers, yeah, numbers don't lie and I'm not saying that qualitative data lies, but there's a lot of room for interpretation when it comes to understanding data that is qualitative, right? In my doctorate level degree, I did quantitative data analysis and I also did qualitative data analysis, and if we're gonna really look at the qualitative side of things like words, right, there's a lot of room for interpretation. If we're gonna look at numbers, right, it really minimizes the room of interpretation, you know, in terms of like we, like it says what it says.

Speaker 1:

Yeah, so one of the numbers I would love for you to know it's like what is the size of growth in your business in terms of when I talk about the B marketing, the 4B marketing framework, one of those elements is be findable, right? How do we measure how you're being findable? Right? Is we can look at the growth in your email list, for example, right in your database, how much is it growing week by week, month by month, quarter by quarter, year by year? Right, if we are reporting 0, 0, 0, 0, there's an issue, isn't there, right, so it's very important to look at what that number of growth is. If that growth is moving very slowly, right, you can understand and make some real key interpretations about what that might mean for your business. Okay, and so you wanna be able to understand how are you measuring that? Metrics of you being findable, right? One of those things that we look at one of many, but one of them is the growth in your email list, right, and so you wanna think about that. How am I measuring my level of being findable out there in terms of my mission, in terms of my business?

Speaker 1:

The other thing that we look at as well, when it comes back down to the 4B marketing framework right, and so the other thing is that we look at is building relationships. Okay, so you wanna have a quantitative measurement, right, metric that you are looking at that measures building relationships. One of those might be how many connection calls did you have with people right In the month or in the week? Right, you could only build relationships through conversation. Right, and actually building relationships is a great thing to have in your business. It's how you're gonna learn about your audience even more. It's how you can actually help people by actually helping people, right? I actually believe, like, if you put yourself out there and you help people right, just by law of universe, right, like it will come back to you.

Speaker 1:

It comes back to that when I talk about the sole success business principles right, love, serve, grow, love, serve, grow. How do you love and serve on people? Connection calls are a great way and you can measure that. How many connection calls do you have in? Okay, if it's zero, zero, zero, zero, there's an issue. Okay, and so you wanna be making sure you're measuring these things in your business. But there's other ways as well that you can measure in quantitative ways how to build relationships. Okay, and I'm just giving you one idea on each of these elements, just to get the cogs moving a little bit and for you to start thinking about actually metrics are a good thing.

Speaker 1:

Metrics are a great thing Because, by looking at them, even if there's no improvement, that's a great thing, because it's giving you feedback that something needs to change, right, so it's really, really important, okay. And then, through the 4B marketing framework, one of those is boosting revenue, right, how do we measure revenue? Well, how much revenue did you make? Right, how much revenue was generated. Okay, very simple number to put down. All right, it kind of says what it says, yeah, and so that's one way to be able to look at that part as well. Boosting revenue Now there's also, again, many other metrics that we can put in there, because revenue generation is not just the only metric we wanna look at for the business, even when it comes to finances, right, but it's one of the metrics that I encourage my clients to look at, and every month we're giving them a monthly business review where they're required to pause and reflect on how their business is doing right, because if you don't pause and reflect on how your business is doing, how do you expect your business to grow?

Speaker 1:

So it's a very, very important tool for you to do, as the leader of your business pause, reflect and so that you can course correct right. Sometimes I hear from people like they are doing things in their business that don't even feel solar lined, or they're doing things in their business that doesn't make sense, but because they've invested in a course or a mentor, they're gonna carry on doing it, even though it doesn't make sense, right? And it's just like just pause, reflect, look at the growth, right or lack thereof, and course correct. And I'm not saying that by starting to look at your numbers, that things are gonna change overnight. That's not what I'm implying. But I am saying that if you are looking at your numbers and you're taking that responsibility of the CEO in your business, that you will start to really see a shift and a change in yourself, in what you're doing, in your team, in what they're doing, in your clients, in what they're doing right. There's so much growth that can come by looking at the metrics in your business. So, as a practitioner watching this that is, building and scaling a coaching business right it's very important that you are looking at metrics, that you're not just looking at the qualitative side of things right, in terms of maybe you were used to having clients notes and recognizing all the beautiful changes that happen that aren't so measurable, but there are measurable metrics in your business. That is a requirement for you to note down. Right, and yes, you can be in places like the Soul Success Business Academy where we hold your accounts warm and like okay, you know, it's the fifth of the month. Where's your metrics? Right? How are you growing? Right, or you can just do it yourself. Okay, but it's a very, very important process.

Speaker 1:

Okay, so that's my episode for today. I really hope this has served you. It's my mission to really serve and support as many practitioners out there that are really like about this, right. They are ready to be a part of the coaching world, right, and make impact and put their mark out there so that they can change lives. And I want to help and support you in understanding what you need to know about business, because, quite frankly, we're not really taught about this whole business thing when we're training to be a practitioner, and as somebody that has been in the online coaching world for over nine years now, right, I know a thing or two that I want to pass down to you as well and share so that you can have success in the global e-learning world the coaching world too. All right, so that's it. I hope to see you next week on the next episode and over and out, like, comment, subscribe, do other things and I'll see you again next week. Guys, see you later.