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.
Have you ever choked when it came time to tell a potential new client your coaching fees? It’s embarrassing. And it could be a factor in why they felt uncomfortable with your fees or didn’t hire you. But don’t worry. You can turn the tide on this problem with just a few shifts in your mindset and approach.
Fear about asking for coaching fees stems from learned beliefs about money and self worth that don’t serve us (or anyone else) even though they hold sway over decisions that involve money and how we value our time. As a coach and business owner, this is a grand opportunity to shift those outmoded beliefs and habits. And, charging what you’re worth allows your ideal clients to invest in your coaching services and to value themselves more highly.
If you want to increase your coaching income, start by learning how to have powerful and effective “money conversations” and begin dissolving scarcity issues related to money for good!
Use these three tips to go from fumbling to finessing the money conversation with coaching clients.
Have you ever felt that you’re all over the place with your coaching business? Today, you’re speaking at a brown bag corporate meeting about team leadership. Yesterday you gave a talk at your church about relationships. Next week you’ve got a gig at Borders where you’re giving a career choice seminar. You’re versatile, but is that helping you attract enough coaching clients? Probably not.
It feels good to be recognized, so you say ‘yes’ to speaking and training opportunities even if there’s no continuity to the topic or the market. But what are you recognized for… and is it something you can leverage to become financially successful in your coaching business?
If you’re morphing your message, your title and your coaching niche to fit any opportunity or potential client that comes your way, you are actually making more work for yourself! And, if you do the math, you’ll find that most days you’re lucky to be making $25/hr, when you could be making at least 5 – 10 times more if your coaching business had more focus.
When coaches get tired of working hard for little return, they hire me to help them “fix” their coaching business. The fix is simple. I help them get more star coaching clients and make marketing fun by focusing and leveraging their efforts. Here’s how:
It takes 30 seconds or so to get from the lobby to the penthouse in an elevator — just enough time for a business person to make a pitch and capture investor interest. That’s where the concept of the “elevator speech” came from.
As coaches, we want to attract investors too — the ideal clients in your coaching market who are ready to invest in their future by hiring you. And if you cultivate loyalty, they will keep investing in everything you offer.
A masterful elevator speech does three things:
- Succinctly describes your target market, so that your coaching prospect sees that you specialize in helping them exclusively.
- Identifies their most unique and compelling challenge, so that your coaching prospect feels you understand their unique problems.
- Delivers a value proposition, so that your coaching prospect believes you will help them succeed.
When you’ve finished your quick speech the natural response is “Tell me more!” or “When do we get started?” or “I’d like to refer several people I know to you.”
I am fresh from a mastermind retreat with established coaches and brimming with excitement and gratitude. You know how it feels to be energized by powerful conversations? The rich relationships and collaborative learning are even more valuable when we harvest the gems and use them to transform our mindsets, habits and results.
The moments with the biggest impact in my retreats are when powerful questions get asked at just the right time. The right question can do more to motivate a coaching client into playing a bigger game than reading a whole bookshelf of inspirational books or attending several ‘how to’ seminars. Why is that? Questions, when phrased and timed well, entice us to go inside and look around the many rooms of our heart-mind. We emerge knowing ourselves better than we did before.
Here are seven great coaching questions to ask your clients, or yourself!
1. What do you want?
2. What’s holding you back?
3. What is it costing you to continue holding back?
4. How do you want to change your mind’s programming on that topic?
5. What new habits will you put in place to fortify your new mindset?
6. What is the most meaningful action you could take now?
7. What new skills or support systems will ensure your success?
These are just simple coaching questions. But even the most successful coaching clients will get continual value out of these kinds of questions. The right question can help anyone zoom past obstacles and into a power zone of action and attraction.