Many years ago, Thomas Leonard, founder of the first coach training school and the “father of life coaching,” said:
Never want more for your clients than they want for themselves.
That woke me up! I began to examine my motivations and set healthier boundaries for myself with clients.
Have you ever sensed that you might want too much for your clients?
Most coaches fall into this trap on some level, until they let go of their desire to effect change on their clients, and replace it with an understanding that what is best for the client is only what the client is ready to commit to change within themselves right now.
We can never know the path of another person. If we react protectively, anticipating our client’s pitfalls and mistakes, are we keeping them from valuable experiences that may bring success more quickly? If we jump in to solve their problems and salve all their hurts too vigorously, will we somehow take away their power?
A practice full of one to one coaching clients – is that what you’re going for?
It’s smart to get clients in the door and build your market presence. But if you want a six figure coaching business, one to one clients is only half the story. As soon as you can, add in other revenue streams. This will keep you off the money for time treadmill and help you break through the glass ceiling in your coaching income.
I recommend you start by creating marketing that will pay you! Educational marketing is the best way to attract clients. When you put out valuable information products, each product markets your coaching business by building credibility in your target market. And, you get paid while you market.
Some people call these kinds of revenue streams “passive revenue”. Actually, there’s nothing passive about creating a book, ebook, CD set or any other product! However, your investment of time is front-loaded into the creation of the product and the marketing system. Then, these revenue streams pay you multiple times without you having to be there to “deliver the goods”. Once they are in front of your target market, they can pay you when you’re not working.
To make this work, first be sure that you’re aiming your coaching services at a well-defined target market. Then you can generate a whole string of information products and services that work together in what’s called a marketing funnel. If your market is broad, or you just bill yourself as a generalist (life coach, business coach, etc.), it will not be easy create a marketing funnel.
Have you ever felt nervous or inarticulate when talking to a coaching prospect? You know the moment of truth is upon you… it’s time to enroll this new client — but how?
With practice, this process is effortless. Follow these seven steps to winning conversations with prospects. The first two steps of having powerful conversations with prospects begin before you meet the prospect.
Step #1 – Understand Your Target Market
Don’t make the mistake of just trying to get any client. Champion a single target market instead. If you have expertise in your market, tap into your insider knowledge. Otherwise research what motivates them by having a few informational interviews with folks in your chosen market. Take a look at these targeted coaching markets and their top challenges:
Sometimes, to get better results in your coaching business, all you really need is a mindset shift. So many life coaches make a less than stellar income, and their mantra: “How do I get more clients?” rolls around in their heads continuously. Eventually, that focus builds more scarcity than prosperity.
Some wise person said: “How we do anything is how we do everything.”
It’s true. And I say:
How we think about anything is how we experience everything.
When you set your coaching fees and tell prospects about them, give yourself the advantage of a powerful mindset as a solid foundation for your success.
Integrate these Four Power Concepts together to charge what you’re worth.
After coaching professionally for twelve years and helping hundreds of coaches create successful businesses, my answer to this question is surprisingly and unequivocally – NO!
On the other hand, if you’re wondering: “Is coaching a viable business?” Absolutely – YES!
But, here’s the thing… financial success in coaching has little to do with coaching skills and everything to do with setting yourself up for success through best business practices. The result you most want – lots of ideal clients – will come to you by learning the business of coaching.
Do you remember why you became a life coach? Do you still feel the calling? More than ever, it’s important to believe in your dreams. Slow down. Calm your fears about the future and revive your vision for your coaching business, your life, and the world.
I know that you’ve heard a lot about Law of Attraction principles, but you might have forgotten to use them in the constant drive to get things done and get ahead. All of those high payoff actions you complete around your coaching business will bring a powerful result if your mind is aligned with your vision. Like the current in a river, prosperous thinking allows what you want – more coaching clients, a better income – to flow towards you.
The 5-step manifestation process I’m about to share with you really works! I’ve experienced it for myself and seen its positive effect on others. Make this a part of your daily practice. Then watch how you attract more financial prosperity and feel better.
My computer consultant was at my office last week optimizing my Macbook for my next business trip. Opening up my email, he said: “OMG, your inbox is clean!” Then he looked around my office. “Are you really this organized?” I am. To be successful I have to be.
Stuff is distracting. If your office and inbox are overflowing and you don’t like it any more, keep it clean with these five Jiu Jitsu moves:
After you’ve poured hard work and dollars into your coaching website, the last thing you want is for your website to sit there collecting cyber-dust. You want your site working for your coaching business all the time – pre-qualifying prospects, developing relationships with new leads, and possibly, selling your products and services.
Is your coaching website doing that for you?
Pull up your website (or if you’re starting on yours now, take note), and run through this checklist to see if your site needs a makeover.
1. Does your home page do these things?
Clearly identify and pre-qualify your target market.
When you address your niche market directly on your website, they feel like they have arrived home. If you’re leaving your website generic, hoping to address everyone, or if you have a broad coaching market, your site will be much less effective as a marketing tool and slow your success.