Author Topic: Financial Coaching - Marketing/Sales and Scaling?  (Read 336 times)


  • 5 O'Clock Shadow
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Financial Coaching - Marketing/Sales and Scaling?
« on: December 04, 2018, 12:28:21 PM »
Hey all,

It's no secret that millions of people around the country have a negative cash flow, barely (if any) plan for how to make ends meet, or anything beyond an abstract idea of their future goals. Tons of people just feel like a money failure, and when I look around at some friends, colleagues, and family, this fact is only confirmed. Still more people want to invest but have zero assets to reach their goals.

With that in mind, I'm exploring the idea of a service organization revolving around helping people understand their short and long-term financial goals, budgeting, creating positive cash flows, consolidating debts, changing (and sometimes creating) better habits, reinforcing positive self-talk, etc. This will start as a side business with one or two case studies to prove the concept as well as fine-tune my process.

I believe that I can be successful in this space for a few reasons. First, our story: my wife and I spent the better part of two years climbing out of my own debts totaling over $30k, so we understand the peaks, valleys, and self-discipline that leads to wonderful confidence and self-worth on the other side. Second, enjoyment: I find enjoyment in taking a look at the big picture and creating goals with our money that best serve us. I have tracked our spending to the penny for nearly three years and have refined our budgets considerably over time. Third, service: I find distinct pleasure in identifying problems with/for others and helping brainstorm, incorporate, and solve those problems.

This business will be monetized by focusing on 25-40 year old single people and families that make healthy incomes but have clear spending and accountability issues. I will demonstrate on the front end what they are missing/what we can work towards, and the cost for the services will be rendered valuable. Additionally, it's my goal to incorporate weekly or bi-weekly blog posts around hacks and/or food for thought that may one day produce some revenue and at least possibly generate a sales pipeline.

If you've made it this far, thank you for continuing. I have two questions, but feel free to comment with any other thoughts on the subject. I would genuinely appreciate any insight.

1) I have a pseudo-plan to partner with one (or a few) advisors that I'm familiar with to create a two-way partnership. They send me referrals that have no assets but are committed to saving, and I "graduate" those referrals back to that advisor. I have relationships with a few advisors from a past life that I would feel comfortable approaching with this idea. Does this seem feasible? What other avenues (besides the obvious: word of mouth, fb, etc, etc) would you consider in order to keep a healthy pipeline?
2) Maybe it will always stay a side hustle, but is this an idea that seems like it can scale? My thoughts are two-fold. I know that there are tons of people that need help - the list can be almost endless, but how many of them want it, right? On the other hand, am I, as a 31 year old married man with no kids, just in the perfect demographic right now? I mean, as I age, will more of my friends/colleagues/family/network just "figure it out" thus rendering my services useless?

Anyway, I know that's a long post, and may be somewhat rambling. I appreciate any thoughts as I steer towards testing viability.