For most AdviCoach clients, their business coaching journey starts with an ILWE plan. Your initial ILWE goals will guide you and determine the business coaching services your organization needs. Read on to learn what ILWE means, how AdviCoach will help you come up with your plan and what happens after ILWE planning.
What Does “ILWE” Mean?
ILWE is an acronym that stands for Income, Lifestyle, Wealth, Equity. ILWE planning is a goal-setting strategy that helps you think about the future you want in each of these four categories.
The definition of income is pretty obvious; how much money do you want to be taking home? Lifestyle asks you to look at the most and least rewarding areas of your life as a whole and we will work to figure out how to use your business to increase rewarding activity and decrease unfulfilling tasks. Wealth, for us, generally refers to assets outside of your business, like investments and savings. Equity, while equally important, is less tangible. It refers to the value you are building within your business, like client lists or a positive community reputation.
How We Do It
ILWE planning is the first step to growing with the help of AdviCoach. After your initial call with us, your business coach will send you the ILWE workbook. You will work through the seven steps in the book to determine your long-term goals and what achieving those goals will look like.
Each step in the workbook will provide you the opportunity to pause and self-reflect about what you really want your future to look like. In fact, through the ILWE workbook, your business coach will ask you what you want people to say about you at your ninetieth birthday party. This type of long-term thinking helps us to work backward and determine what you could change about your business now to positively impact your future self.
ILWE is Just the First Step
For all AdviCoach clients, business coaching services are collaborative. Once you complete your ILWE workbook, you will connect with your business coach to discuss the goals and values you’ve determined to be most important. This information will help your business coach get to know you and figure out which business coaching services and strategies will be most effective for you and your business.
Within 4-8 weeks, business coaches assist our clients in moving past the ILWE planning stage and into the strategic planning process. Next, we will work with you on implementation. But these steps can only happen once we have a strong, clear picture of your ILWE goals.
Are you ready to start thinking about your future in terms of ILWE? If so, contact AdviCoach today to find out what our business coaches can do for you—and your future.