I learned the hard way. When I first started my coaching practice I thought of lots of really cool ideas for my business…and did them! I picked folks up from the train from Manhattan and took them to the beach to coach! I heated my pool to ninety two degrees and they got 30 minutes alone (naked) in my back yard on my pool float and then a shower and frozen drink with a paper Chinese umbrella in it! Then I had groups of women in my home who got Greek salad and group coaching for $15 for a three hour evening! Wow! I had lots of happy clients!
I had my own coach who questioned me about my ROI. What? ROI? What was that? Return on investment…Oh!
I jokingly explained I had sort of a ‘non-profit’. He said “Lisa, even non-profits make money”. “Well, I had created a non-profitable non-profit!” I retorted.
It wasn’t that funny. I could not afford the cool things I thought up. In fact I was losing money, and I was losing precious time I needed to raise and educate my three homeschooling children.
I had a vision and a better way to serve my clients and I thought I would follow the philosophy “Do what you love and the money will follow” and it would all work out. Need I say, it did not?
I did get one of those ‘learning experiences” we are supposed to take comfort in. What did I learn? “Do what you love to increase revenue and the money will follow.”