Running a successful coaching practice requires more than just coaching. Being the best coach in the world doesn’t mean your coaching business will be profitable and successful.
Is Your Coaching Business Struggling?
If your practice is merely treading water and barely staying afloat, you might be doing something wrong. But, before you run out and sign up for more coach training, take a few minutes to analyze the way you run a business. It might not be your coaching skills that are lacking; it might be your poor business skills.
6 Obstacles to a Successful Coaching Business
If you’ve already been in business for 3 or 4 years, then you can probably skip this part. However, for those coaches just starting out, patience is a virtue. Coaching isn’t a get-rich quick scheme…or even a get-profitable quick scheme. A business takes time to get established and grow.
You’re Doing Too Many Things at Once
It is important to focus on one or a small number of things at once. Don’t get bogged down marketing across multiple platforms (unless you have hired help), or coaching is various niches, or trying to take too many classes or attend too many seminars. Evolve and grow slowly.
Many coaches start their practices on a part-time basis. Sometimes side gigs can get derailed before they have the opportunity to bloom because people aren’t committed to them. Even a part-time business needs to have a high level of dedication and commitment. To be a successful coach, part or full time, commitment is required!
You are Only Focused on Coaching
Running a successful coaching practice takes focus, but the focus needs to be on more than just your coaching. You can have the highest level of coaching skills, but if you lack business skills, your coaching business may not be around for long. Marketing, networking, entrepreneurship, and administrative abilities are all important components of being a successful coach.
You Don’t Know Your Clients
This one pertains to your coaching skills. Have you done the research needed to learn more about your target market? Do you have the outcomes your clients are seeking? To bring your coaching skills to the highest levels you need to have the solutions your clients want, and to have these solutions, you need to truly understand your potential clients. Successful coaching depends on research about your clients, questioning, and feedback.
You Avoid Marketing Like the Plaque
It would be wonderful if you could run a business without marketing and promotion. But, that’s a utopian business world that only exists in your dreams. Marketing is essential for a successful coaching practice. You can hate it, but you need it! Either do it yourself or hire someone to do it for you – but it must be done! A lonely website on the Internet and a few ads in the local paper won’t get it done. Coaching is highly competitive, and you need to explore each and every way to get the word out about your great coaching skills! Otherwise, no one will know and your business will die!
Special Bonus – Learn 32 ‘Guru’ Transformation Techniques when you click on the image at the top right. You’ll learn how to become a life coach in 30 days.
Writing Team, Coaches Training Blog Community