Second in our series on the seven deadly sins in your life coaching business is greed. Greed is defined as reprehensible or insatiable desire to acquire or possess more than one needs or deserves—the extreme end of the scale of wanting. Unlike the first deadly sin of pride, greed doesn’t have any long-term up side to it, although wanting certainly can. Wanting to fill our coaching practice or learn advanced coaching and marketing skills can get us into action in a positive way. But if you let the wanting get obsessive and grow to the extreme of greed, how does it show up in coaching and what will it do to your coaching success and the success of your life coaching business?
What Greed Looks Like In Your Life Coaching Business
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How many clients do you have on your coaching roster? Do you have more clients than you have time and energy to give your best to? Now granted, that isn’t a problem that every coach has, but if you are one who does, why do you have so many? What’s your motivation? Some coaches might say it’s the extra income, but most of you would probably say that you want to help as many people as possible. A noble aim. Now, be a good coach and go a step deeper. Ask yourself if you are truly serving those “too many” clients to the best of your abilities. If you have too many clients, are you greedy for the extra income or for the kudos you get from fellow coaches for being so “successful”? Or maybe you’re greedy for the good feelings generated by helping others, even at the expense of fully committing to each client.
The Cost Of Greed
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The cost of greed in terms of client numbers might not show up much in your life coaching business in the short term, but it will catch up with you eventually. If you aren’t able to give your best to your clients and be fully committed to each one, they will know and they won’t be satisfied. And guess what–they won’t provide referrals. And think about how your marketing will be affected. You know those glowing testimonials you want to put on your website? You might get some lukewarm ones, but not the kind that will bring you clients. And how about having clients stick around for more than the minimum package they signed up for? Don’t count on it!
Greed is going to cost you business in other ways, too. If you are perceived as being overly acquisitive and possessive, whether it’s over clients, information, contacts or whatever, you and your life coaching business will be less desirable as potential partners and less likely to be considered in joint venture opportunities.
In marketing, a phrase you hear often is “lead with the giving hand.” In your life coaching business, as in any business, greed is the antithesis of what you must do to make your business thrive.
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Dorine G Kramer
JTS Advisors Strategy and Accountability Coach
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