Before-and-After Stories: The Power of Working with a Finance Coach
Have you ever been sucked into a coaching program you found on Instagram that promised the world but completely underdelivered?
Many entrepreneurs have been burned by a coaching program that didn't offer results and left them feeling like we've wasted our time and money.
Here at the Impact Lab, we want you to refrain from joining our program for the sake of it (we're not making money off this)!
We want you to apply because we've seen how our finance coaches have helped shape dozens of other businesses like yours… and because our program is entirely free, we have no shame in recruiting as many entrepreneurs as possible.
How do I know working with a finance coach is worth my time?
If you can use help in any of the below areas, one of our finance coaches can work one-on-one with you to create a plan and help you implement it.
1 — It would help if you had a clear business plan.
Suppose you need a detailed business plan that outlines your business idea, market analysis, operational strategy, and financial projections. In that case, our finance experts can help you get started.
2 — You wish you had better financial literacy.
Financial literacy is having a basic understanding of financial concepts like cash flow, profit and loss, and balance sheets. If those words just went over your head, you're not alone, and we can help you!
3 — Your financial records could be more organized.
Do you maintain organized records of any financial transactions, however small? If not, one of our experts could help you get organized so you'd have better visibility (imagine knowing exactly where all your money is going so you can plan)!
4 — You could use realistic financial projections.
Our coaches can help you develop financial projections for your business, including expected revenue, expenses, and cash flow for the next few years.
5 — You'd like to pay yourself more but need to know how to get there.
Are you bringing in revenue but still need help to pay yourself a living wage? Our finance coaches can help you align your business finances with your financial stability and work-life balance goals.
6 — You've never completed a risk assessment or contingency plans.
When you walk away from our program, you'll have a better understanding of the risks involved in taking the next steps for your business – and you'll have contingency plans for managing all the different scenarios that might pop up.
7 — You could use more industry connections.
Our graduates will always belong to the ever-expanding Impact Lab network – and this is just as valuable as the one-on-one financial advice you'll get from taking our program.
Before and After Stories of the Impact Lab
If you answered "yes" to any of the above qualifiers, you're already a great candidate to apply for the Impact Lab. But we don't think you should take our word for it. Here are some businesses that have been significantly impacted by our Impact Lab. (To gain more context into each business story, click the links to the articles).
Cornell & Associates: From Losses to Long-Term Profitability
The Challenge: Struggling with profitability despite high revenue.
How a Finance Coach Helped: We conducted a financial review, and advised on costs, standardized pricing, and how to allocate tax credit.
Results: Gained over $100k tax credit, which the Impact Lab helped allocate, improved financial management, and sustainable success.
iLLMeca Productions LLC: Beats and Balance
The Challenge: Juggling two jobs while growing a DJ business, aiming to transition to DJing full-time.
How a Finance Coach Helped: Discussed a detailed expense budget, evaluated income needs for transitioning jobs, identified rate increase opportunities, and created a financial model.
Results: Improved insight into financial situation, developed a clear income plan, explored new revenue streams, and established a pathway for business growth and work-life balance.
DJ Danny Torres: Spinning Up Success
The Challenge: Needed help setting revenue goals and optimizing pricing strategy.
How a Finance Coach Helped: Reworked pricing structure, reviewed data for peak seasons, instructed on Quickbooks for aligning business expenses, and discussed long-term goals.
Results: Developed a comprehensive financial forecast, gained confidence in making informed business decisions, and prepared for potential expansion and future challenges.
Mindful Culinary Creations: From Overwhelmed to Managed Growth
The Challenge: Balancing rapid business growth with personal life while needing better financial organization.
How a Finance Coach Helped: Provided tools for financial management, established QuickBooks, and advised on work-life balance.
Results: Achieved organized accounting, clear business goals, hired a third employee, and reduced overwhelm with a positive, productive mindset.
Rombomb Burger: Burger Pop-Up to Thriving Catering Business
The Challenge: Needed to increase net profit significantly to support family, balance business expansion with lifestyle.
How a Finance Coach Helped: Evaluated financials, menu pricing, costs, and margins; explored growth opportunities; developed revenue model for income growth.
Results: Increased net income projections, implementing revenue model, exploring new opportunities, and maintaining a balanced lifestyle.
Brazuca Bites: How This Brazilian Food Business Streamlined Its Offerings
The Challenge: Managing a variety of products, struggling with inventory management and financial planning.
How a Finance Coach Helped: Analyzed product lines, sales channels, and market traction; created a financial model for profitability and expansion.
Results: Streamlined product offerings, improved cost understanding, expanded market presence, and better prepared for future growth.
Dripping Candles and Design: Striking a Match on Success
The Challenge: Wanted to double yearly revenue but struggled with outdated accounting methods.
How a Finance Coach Helped: Implemented basic accounting software, consolidated financial data, identified profitable sales channels.
Results: Gained accurate financial understanding, refocused on profitable customers, improved revenue.
Choose a finance coaching program that gets results
Inspired by the success stories you've just read? Join our upcoming Impact Lab cohort and transform your business journey.
Here's how the Impact Lab can help you:
Gain financial clarity to reach sustainable profitability.
Revamp your pricing for enhanced financial resilience.
Boost your income to achieve your desired lifestyle.
And guess what?
The Impact Lab is free! 🤯
Applications for our next Impact Lab cohort are currently open.
Want to keep the inspiration going? Read more success stories.
See how Impact Lab could help you gain financial clarity for your business in 2024
Join the next cohort!
