Starting a coaching business is a fascinating but challenging opportunity, so we often look to experts in the industry to help us. However, there are some things business gurus often leave off the table when they’re teaching their up and coming protegees. Let’s look at some of the most brutally honest lessons you can learn and use to grow your own coaching business.
Niching Down Will Make you More Money
There’s a common misconception that niching down will make you less money, but if you learn how to find a profitable niche, you can make more than those that generalize. Coaches that take almost anyone may fall into the trap of either overworking or giving advice that may not apply to that person’s business model. Niching down can help you provide better guidance.
With a niche, you can take the guesswork out of describing what you do, and it will make content creation a breeze. On top of that, your coaching problems will be easier to make and adjust if you know what kind of clients you’re attracting.
You Need to Work With a Coach First
Many new coaches will start a business as a coach without seeing someone actually working in their job description. You can learn a lot about how to do your job by watching someone else perform, and that kind of training will benefit you and grow your business in the future. You can also grow connections by speaking to other coaches away from your sessions.
Having a business coach on your payroll will also benefit you because your coach can actually help you grow your business. They’ll help you stay accountable to your goals, push you into opportunities you’re too scared to take, and teach you the ins and outs of coaching yourself.
Use Content to Pre-Sell Your Coaching
Before you sell your coaching, you need to show credibility in your industry to build trust with your future clients. One of the best ways to get that credibility is by receiving referrals from previous clients or asking them for reviews on your platform. Since you’ve helped them transform their lives, they’re likely more willing to help you out in this respect.
But if you’re starting out, you need to make content and post it on your personal website or on an open content website like Medium. Most people will call you to ask for your services based on the content you post alone, so continue to make connections and grow your email list.
Certificates Don’t Really Matter
Your content will speak for itself, and most of your clients will judge you and your coaching ability based on your knowledge base in your articles. From research, it’s actually really uncommon for your clients to ask for certification because they only care about chemistry and results. Having your name on a paper doesn’t build trust, and your education may not benefit your business.
Anyone can start a coaching business without any certifications. If you’re a great coach, your clients will keep paying you and recommending you. You still need proper training from a professional coach, but you don’t need a formal education to start.
You Can Change Anything You Want
As a newer coach, you will need to start at a smaller amount to gain clout in your industry, but after you’ve coached a few clients, you can make $400 an hour or more. There are plenty of coaches less than one year in their business that charge $1000 an hour and sell 6-figure coaching packages that last a year. With some effort, you can do this as well.
You have to be 100% confident that your services are worth the price. Otherwise, you won’t attract the right clientele that can afford your services. When you get into that sales call, show your clients you mean business by staying confident in your abilities.