A School of Coaching That Ignores Profit is No School at All

A good school of coaching should not only teach you how to help your clients reach their dreams, it should also give you the tools necessary to reach your own dreams. Too often schools of coaching focus on providing their students will the knowledge, skills, techniques, and tools needed to successfully coach individuals and help them realize their potential and reach their dreams. However, many schools either offer no training or rudimentary information on starting and maintaining a profitable coaching practice.

 

A school of coaching without extensive information on the business part of coaching is just not providing all the tools necessary for its students to find true personal and professional satisfaction. To be satisfied, a coach must have a coaching business that is both profitable and pleasurable.

Profit and Pleasure in Coaching

Most coaches go in to the business because they derive pleasure from helping others. Some enter the industry because they see a chance to make a decent living with the potential for huge financial rewards. The nexus of pleasure and profit is may be different for each individual, but it is the point where each person is satisfied with the choice to become a coach.

Without the profit, you will not have the ability to derive pleasure from coaching for very long. Unless you are independently wealthy or have just inherited millions from a relative, you will need to make a profit to stay in business. If a school of coaching is not teaching you how to make a profit, then it isn’t fully teaching you how to be a coach.

How Can a School of Coaching Teach Students About Profit?

Some people believe that starting a business is easy, and in a way, they are right. However, to start a business correctly, there are several essential steps to take. All businesses should start with a business plan – do you know how to create a proper and effective business plan?

Starting a business also requires you to select a legal entity for your business, establish pricing, and obtain all the required licenses and insurance. If you already know how to do these things, then you don’t need a school of coaching that teaches this, but if you don’t…

2 Items That Make or Break a Coach

One of the most important steps is the creation of a marketing plan. Marketing? You need to market? Without a good marketing and promotional plan, your coaching clients will be few and far between. If your coaching school doesn’t have comprehensive information on ways to market, it can effectively be called the School of Hard Knocks, because hard knocks is all you’ll be experiencing when you open your practice.

A coaching school that doesn’t teach its students about alternate streams of income is like an elementary school not teaching its kids how to read. If you want to reach superstar levels of income, you have to shoot for the stars, and shooting for the stars means you should find additional ways to generate revenue. DVDs, books, article, products, seminars, group coaching – these are all examples of additional streams of income. If a coaching program ignores these subjects, you will be missing information on ways to generate a significant amount of potential income in your coaching practice.

Becoming a coach takes knowledge, passion, dedication, and education, but if your education lacks sufficient information on starting, maintaining, and growing a coaching business, your school of coaching is not giving you the tools to discover your own personal intersection between profit and pleasure.

Hope you took some great value out of this post today! I’d love to hear your feedback, so make sure you leave a comment with your thoughts or questions. And also, you can click on the Twitter button below to retweet this article… Thank you!

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

FREE Video Course: How to Build a High Paying Coaching Business

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Comments

  1. Jocelyn says

    Great post! I agree that a successful coaching practice comes from pleasure and profit. Pleasure meaning loving what you do and Profit making money out of it.

  2. Natalie says

    When you enter a school for coaching. They will undeniably tell you that in order to succeed as a coach, you need to be a good coach and have a great marketing plan. You may do damn well in your coaching practice but without a marketing strategy you will not be able to gain more clients and have a great profit.

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