Most Coaches start out in business for reasons such as, wanting to quit their full-time job and be their own boss, or they want to gain the financial and personal freedom of being an entrepreneur, they also want to help people and make a difference in their life. No matter what the reason is, being a Coach is a fantastic profession to go in. However, what many Coaches don’t realize until they are in the beginning stages of their Coaching career is that starting a coaching business is not always as easy as it seems. Many Coaches struggle trying to make it work and trying to make that leap to a successful Coaching business. In this report, I will share with you eleven mistakes new Coaches make that are holding them back from reaching their ultimate goal of having a successful business.
Mistake #1: Spending too much time getting ready!
Many Coaches spend too much time preparing themselves to get started. They work on their website, their marketing materials, finishing up their Coaching training, and focusing too much on “getting their ducks in a row” instead of getting out there and start Coaching. Many also feel that they are not ready to Coach because they think they are not good enough yet but to be honest, you won’t learn until you go out there and Coach. You will only learn how to make it better once you notice the mistakes you make while you make them or you realize that you could make some changes in certain areas but the key to becoming a good Coach is you must practice! Think about the time you started a new job, you didn’t prepare yourself for weeks or months to start that job, no you learned and got better by doing. It is all a learning curve.
Mistake #2: Don’t have a Coach that can guide them through the process
Every Coach should have their own Coach that can guide them to move forward and to help them get through the things that are holding them back. Especially if you are a new Coach it is extremely important to work with a Coach to help you move forward. Of course, you can try to figure things out on your own and spend a lot of time and a lot of money on things that are not working. Where, if you would work with a Coach that has already been there and done it, and learn from them, you can get to where you want to be much faster.
If you are worried about not being able to afford a Coach, especially when first starting out, then consider this… how can you expect others to pay for your Coaching services if you don’t even pay for a Coach? Also, think about the amount of money and time you waste on things that are not working or trying to figure things out on your own? Some Coaches even work with you on the fees and some even agree on some sort of barter service.
Mistake #3: Don’t collaborate – they rather stay an army of one!
As a Coach, it is important to collaborate with others either in the same industry or they can even be in a completely different industry. Many Coaches think they are in business by themselves but the truth is that only when you collaborate with like-minded individuals will you get to where you want to be… create an army of many rather than staying an army of one! Collaboration is the key to success because you can build business relationships, do business together such as webinars, seminars, workshops, even co-author a book, create products, and help each other grow. When you collaborate with other Coaches or experts in the industry they can promote you to their network and you can promote them to your network, that’s a win, win situation.
In today’s time and age, you can even collaborate with individuals all over the world, and build your business on a nation-wide and even worldwide level.
Mistake #4: Doing too much training and not applying what they learn – Apply as you learn
Have you ever thought to yourself that you have to complete this one course before you can start, or you still need to take this course and that course, and maybe even this other course too? Too many Coaches get stuck in the “learning phase” where they take all sorts of different online courses trying to sharpen their skills or trying to learn more things that they can offer their clients but instead of applying what they learn, while they learn it, they continue taking courses without applying the things they have learned. The best way to learn something is by doing and applying the things you have learned.
Mistake #5: Giving away their services for free or not charging enough
Beginner Coaches often feel that they can’t charge much or at all for their services because they are just starting out and they are not very experienced yet. Now let me ask you this, do you think doctors who just finished medical school offers their services for free? No! They charge for their services because they went to school for many years to learn how to be a doctor and they are providing a service. The same applies to Coaches, they have gone through training, they have learned how to be a Coach and they too provide a service. You also don’t need to tell clients that you are just a beginner or that you haven’t had those many Coaching hours if they don’t know, don’t advertise it. You are an expert and you should position yourself and present yourself as an expert because you most likely will know more about Coaching than your clients.
Now, in regards to how much to charge, even when first starting out you can charge more than just $50 or $75, you should base it on your demographics and your target market.
Mistake #6: Don’t choose a specific Niche
Many Coaches don’t choose a specific niche, they want to help anyone and everyone, the only problem with being too broad is that it makes it harder to find clients. Any marketing strategies would be like throwing mud against the wall, some sticks but most of it falls down. It’s the same with marketing to everyone; it would not be very effective. Instead, choose a specific niche and become an expert in that niche, for example, a life Coach that specializes in goal setting or finding your dream and passion; another example would be a Relationship Coach that focuses on helping divorcees find their way after divorce. By choosing a niche you can target your marketing towards your target market, in this case, it would be individuals who are going through a divorce or individuals who want to find their true passion. Choosing a niche will make your marketing efforts much more effective.
Mistake #7: Don’t treat their business as a business
When starting your Coaching business you must treat your business as a business where you focus on growing your business and generating revenue. If you don’t earn any revenue, if you don’t have anyone to Coach, you don’t have a business, you have a hobby. Being in business means you have to commit to it and do the things you know you need to do on a daily basis. Being an entrepreneur is a lifestyle, you live it each and every day. Sometimes that also means not going out with friends instead of working on your business. Only when you treat your business as a business will you be able to grow it into a successful business. This applies especially if you still work a full-time job; you have to invest the necessary time into growing your business, into marketing and networking.
Mistake #8: Thinking clients will come to them
Just because you open your doors and start offering your Coaching services does not mean clients will be flying in through the door! Unfortunately, it is not that easy. You have to go out and find your clients, you have to build awareness and let people know you are in business. As a Coach you should focus on things that get the word out, you can do webinars, go to trade shows and expos, do seminars and workshops, anything that will get you out there and in front of your target market. Too many Coaches sit at home or in their office waiting for clients to knock on their door which only causes them to lose out on clients and eventually they get frustrated because they have a hard time getting clients. The key is to go out and network, network, and network some more.
Mistake #9: Trying to do everything
Being in business means you have to do everything that is involved with running a business, from doing your accounting, your marketing, creating products, making calls, setting appointments, sending out emails, to conducting your Coaching sessions. All these things are important and a necessary part of running your business. However, sometimes you might feel overwhelmed and that the day doesn’t have enough hours to get everything done. One thing you can do is hire a Virtual Assistant or to outsource some of the things that take up most of your time. For example, your accounting or building your website, things like that you can outsource. Even if you are just starting out and you don’t have the cash flow yet, try to delegate as many things to free up your time where you can focus on getting clients or creating products. Delegating is a very important part of being in business, you simply can’t do everything by yourself or you will eventually burn out. And how can you help others when you are so exhausted that you don’t even want to get on the phone or talk to your clients?
Mistake #10: Don’t focus on building their list – getting leads
One of the first things to focus on is building your list. You need to have people that you can contact about your services and build your list of contacts and get leads is the key. There are different ways you can build your list; you can do an opt-in form where you give away a free report for example in return for someone’s contact information. You could also collect business cards at expos or networking events, plug each contact into your database and start marketing to them. Start working on building your list early on and make it a priority. You should have an abundance of leads that you can market to and reach out to. So start building your list!
Mistake #11: Being a perfectionist
Being a perfectionist is one big challenge many Coaches face because they try to get their website, blog, Coaching packages, or products perfect before they get it out. The problem is, you will never get it perfect, you will always find something that you don’t like and spend days, even months trying to get it perfect. Instead, focus on completion rather than perfection. Once you release a course, a product, or launch your website, you can always make changes to it as you go.