Recently I overheard a coach saying that her business had been doing well and then over the last two months everything came to an abrupt halt.
Prospects weren’t showing up. People stopped opening emails and engaging on social media. And her income slowed way down.
She was ready to give up on her business. And I thought to myselt, “Don’t do that! Instead accelerate and expand your efforts to attract ideal clients.”
Hearing her anxiety made me remember when I was a new coach. But here’s what I realized down the road. That daily pain I felt about fluctuations in my business came down to one mistake …
Taking things personally instead of responding strategically.
Do you know what I mean? If you are feeling blown around in the wind and like you have no control over your coaching business, it’s time for a mindset shift.
You Control Your Results in Your Coaching Business
Here’s the truth … you do have control over your business. Yes, you may need to may small incremental adjustment to help your coaching business thrive, but YOU hold the controls for the most part.
Think about it …
You control how often and how effectively you’re getting in front of your target audience. This is the first place to look if you’re not earning enough as a coach.
You control your fees, what value you deliver and can even have a significant influence over how attracted your audience is to what you offer.
If you haven’t heard it already, I have a whole series called Coaching Business Checkup with 9 episodes that go step by step into the most strategic things you can do before you launch your coaching business.
There’s also a downloadable self-assessment to test what’s working and what’s not working in your coaching business.
The Seasons of Your Coaching Business
All that said, there is one thing you can’t control. You cannot control a seasonal slow down.
But you can shift your mindset about how you respond it and even plan for it.
Depending on your target audience and the flow of their lives there may be a few times each year when paying clients will be less likely to hire you.
Typical slow down times relate to the school year:
- Spring break
- Late summer
- Christmas and New Years
And then there’s events like major elections, such as the Presidential election coming up in the US.
Short-term stress leading up to and just beyond an election may mean people are less grounded to make big decisions. The stock market often dips then as well.
But don’t think that long-term stress has the same effect. It does not.
That’s why I don’t recommend that you hold off on launching your business or keeping it going during the pandemic.
Recently, I published an episode called Should You Launch Your Coaching Business at a Better Time. Find that at prosperouscoach.com/91. Give it a listen because there’s more insight in there about how we fool ourselves into thinking certain times aren’t good for running a coaching business.
How Can a Smart Coach Respond to Seasonal Slow Downs?
Plan both practically and emotionally for these slower times.
First, manage your money to prepare for a temporary doldrum. And work on your mindset so you don’t feel blown around and out of control.
For example, a typical response to school year related slow downs is to sit around and wait for things to improve.
A more decisive approach would be to plan vacation for those times.
But a different and more savvy approach is to use those slower times to plan and create more ambitious campaigns that you can launch when the slow down passes.
Just after the first week of September and the first week of January are the classic times in Western cultures when adults swing into action to improve their lives.
If you are extra active during those times you stand a good chance to win significant market share. By market share I mean attracting attention and inspiring people to hire you.
Look I know that phrase might make you wince. But truly, we all are vying for attention, including coaches and any other type of marketer, which is simply a person who has something valuable to offer and wants to let people know they exist.
That’s all marketing is. It’s communication. And it can be done in an authentic and non-salesy way.
To grab attention target a narrow audience and create a stand out niche so you’re not just another voice in an ocean of voices but rather a unique voice for a unique group with a highly valuable message that they want to hear.
The way I respond to shifts in the market place? Never stop publishing valuable content weekly and have smart systems in place to continually attract paying clients no matter what’s going on in the world.
This is a big part of what I help coaches to create in my 5 month VIP Coaching Business Breakthrough program.
So, as I say all of this about seasonality, consider not taking my word for any of it.
Do your own assessment of peaks and troughs in enrollment for your business. Give yourself a few years to track the flow and make micro adjustments in the way you do things.
But know this … most experienced business owners and marketers will tell you the key to success is consistency.
Stopping and starting your marketing in cycles could actually cause the slow down.
One last thing to contemplate … the pandemic has shifted normal peaks and troughs.
For me, April and May, normal robust times, were slow. Then surprisingly July and August of 2020 were my biggest enrollment periods ever in 20 years and it’s continuing with no slow down!
My theory is two things created this shift:
- Family vacations were cancelled, and
- The strong desire to break out of status quo during a global crisis
Isn’t it fascinating how the human mind works and what drives us to real change?
As a business owner your goal is to learn to be agile and move with the flow instead of against it or just let it push you around. You can do it!
In the Next Episode: Can You Want Too Much for Your Coaching Clients?