A couple of years ago, the coaching industry magazine choice featured an issue devoted to “The M Word” — too discreet to even print the word in large type. Money is perhaps the most taboo topic, yet it’s in the back of every coach’s mind – how to make more of it, more easily and consistently.
For me, it boils down to this question – why do some coaches make more than others? I’m studying this right now, not only for myself, but also for coaches who seem to only get pro bono or trade clients. And for the coaches who continuously over-deliver, under-fill their business, place a low value on their services, and haven’t yet realized how the power of coaching grows when clients fully invest in themselves. It can be different for you, if you really want it to be.
The Big Secret
The #1 reason why some coaches make more than others — they ask for it! That’s the big secret.
You’ve heard “the squeaky wheel gets the grease”. That applies here too. It’s not about being smarter – except for the fact that they are smart enough to ask. You don’t need more coaching skills and certifications. And it’s not about having more experience or being better at coaching and marketing. But you do have to believe in yourself enough to ask for more.
People who make a great living in coaching think strategically about money often enough to plan for it. They analyze their sales, and innovate ways to increase them. That doesn’t mean they are obsessed with the bottom line or less heartful than other coaches. In fact, some of the highest earning coaches are very spiritual in their approach to business, knowing that abundance means there’s enough for all.
What else do coaches who earn more know, that you can apply right now?
Be Willing to Do Things That Make You Squirm (Soon They Won’t)
You know this – wanting a thing does not make it happen for you. Between wanting and getting is the bridge of doing what it takes to get there. Are you willing to cross that bridge?
- Make a short list of the things you want most.
- Now ask yourself: “Am I willing to do what it takes to get there?”
- If not, cross it off your list! It’s not worth pining for something you aren’t truly motivated to go get.
- Or, if you’re willing to coach yourself to a breakthrough, ask yourself these questions and shift to YES!
- Is there something that will amp up my motivation to get this thing I want?
- Do I have conflicting values or desires that are distracting me from getting this? How can I transform my thinking to align those values towards the same goal?
For example, maybe you have a value that says selling is unsavory, and yet you want coaching clients. Work with yourself to learn how to attract clients without selling in the traditional sense. Change your definition. People truly want what you have to offer, but first they must know it’s available. Selling and marketing are simply about connecting and informing people.
Value Yourself Highly
When I first started my coaching business, I spent years learning how to value myself intrinsically. I had to realize that valuing myself didn’t take anything away from anyone else. In fact, standing fully in my power makes me a better coach and more financially successful too!
Since then, I’ve seen that most people who pursue a coaching career don’t yet know their true value, and it gets in the way of earning a great living.
One of the easiest ways you can learn to value yourself is to value your time – put a high price on it. Do that now. Raise your fees. Own your worth. Then ask for the business. You’ll be amazed how it calls your clients to higher commitment. (And once your business is thriving, you can offer some of your time with scholarships, to give back.)
Make Connections with Influential People
When you value your time, you’ll also acknowledge that your services are highly valuable, and you’ll take your coaching business more seriously. Then, you are truly ready for the “big leagues”. Make connections with influential people in your industry and within your market. They are human beings too, and like you, they enjoy helping people succeed. Learn from them. Model what they do and then make it your way. Ask them to help you get in front of your target market.
Get Pinpointed Focus
And one more common denominator – coaches who make more are FOCUSED. They have the same distractions as you, but they have disciplined themselves to focus and stay focused.
- They make sure that they stand out in the crowd.
- They leverage their time and efforts by targeting one unique market.
- And they offer programs that they know that market will invest in right now.
Focus makes all the difference. The good news is, you can learn this. Pinpoint your focus and learn how to stand out in your ideal coaching market.
What have you discovered about how to make more as a coach? Share more ways in the comments.