We recently connected with Kim Trathen and have shared our conversation below.

Kim , thanks for joining us, excited to have you contributing your stories and insights. Let’s start with what makes profitability in your industry a challenge – what would you say is the biggest challenge?

Increasing profitability is the #1 reason small business owners come to me. I coach clients in multiple industries and I’ve seen the same issues across the board. The top 3 challenges for small business owners include:

1. Pricing: Specifically, undercharging. Price may be easier to set in product based businesses because they can use a market baseline. However, there are still product based business owners losing sleep over raising their prices $0.25 per unit. Service based business owners – like consultants, coaches, web designers, etc. – are notorious for undercharging because there is no standard market norm. They are unsure how to value their time for their services. And, as early stage business owners, they often question themselves and the value of what they are providing.

2. Hiding from your numbers. Many small business owners are great at what they do, and not so great at the numbers piece. The most important thing is to be aware of your numbers, no matter where they fall. And, PS, get yourself a great accountant and bookkeeper. They are a critical part of your dream team for growth.

3. Problem solving for the level of income you’ve had, not what you actually want. When your business income is capped at a certain level, there’s a reason; and it’s often because that’s what you’ve mapped out. For example, if you want to sign 3 clients this month, you’ll plan for 3 clients. But, what if you planned for signing 10 clients instead? What would need to change in your business and your strategy?

Kim , before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?

Hi, I’m Kim – former Head of Marketing turned Business Coach. My coaching business was birthed from my living room couch at almost 40 years old, with 3 boys in multiple sports, and working 30 hpw in corporate.

After a friend was murdered, I realized how short life is, and I was ready to make a change. So, I did the scary thing and used my marketing skills to start helping female entrepreneurs. I scaled my own business to 6-figures before leaving my corporate job, then said peace out to the corporate life and went full time into coaching.

Over the years, my business evolved from only helping women with marketing, to helping all heart driven humans grow their businesses. Because I don’t subscribe to systems where a category of humans is excluded from power. All are welcomed and encouraged.

A few things to know:

>While my 5 years in corporate marketing gave me Skills, learning to trust myself and my connection with the universe gave me Insight. We use both to grow your business.

>I’ve burned down my business twice and rebuilt it more aligned with who I am and what I’m teaching. Don’t be afraid of change.

>I speak to and about women’s rights. I use She/Her pronouns in my copy. But I also work with men. Gender doesn’t matter to me. Values do.

>Every business can be successful, it’s the business owner that usually gets in the way. And 9 times out of 10, it’s fear of what will happen that really stops you.

>We’re meant to desire money and wealth because of the GOOD we can do in the world with it. Not to be a jerk.

>Your energy matters. I can tell you how many emails to send and posts to write, but if you write every piece thinking no one wants to work with you— this is what you’ll create. No one.

>Every business needs a strategy. And humor is always welcomed. These are not up for debate.

>Who you are and what you do are intertwined. We can’t look at one without the other. That’s like saying your car only needs gas, not oil.

>If you like what you read and you want to massively grow your business, hit up my website to schedule a consult with me.

My coaching is open for powerful, heart led humans that desire massive business growth. We do this by looking at the internal and external. We smash your glass ceiling that’s holding you back, while creating a strategy for growth.

Learning and unlearning are both critical parts of growth – can you share a story of a time when you had to unlearn a lesson?

One of the biggest things I had to unlearn is regarding debt. Society shames people for using debt, unless it’s the one of the three socially acceptable forms (mortgage, car, and student loans). And I grew up believing this as well.

But debt is a tool of opportunity and growth.

And the truth is, women continue AVOIDING debt, while men LEVERAGE it to grow their businesses. Studies show that only 27% of traditional business bank loans are applied for by women; while men account for 73%. And in the venture capital world, only 2% of VC funding goes to female owned businesses.

Debt allows you to invest and reinvest in your business at a higher rate. Which leads to a faster growing business.

We’d love to hear the story of how you built up your social media audience?

I have around 30,000 followers across multiple platforms. But when I started my business, I had nothing but a few hundred people on my personal Facebook page. I was literally starting from ground zero. The biggest advice I have for someone just starting out is to get started. Don’t spend time researching platforms, key words or how to write the perfect post. Just get started – Put yourself out there, go live, use video, write, share your beliefs and inspire people. Let them know how you can help them and give them a compelling reason to reach out to you.

Contact Info:

• Website: www.kimthebusinesscoach.com
• Instagram: https://www.instagram.com/kimthebusinesscoach/
• Facebook: https://www.facebook.com/KimTheBusinessCoach
• Linkedin: https://www.linkedin.com/in/kimthebusinesscoach/