I remember when I first started my business and I was so confused about how to really make money in the coaching industry.
I followed a lot of the big-time coaching gurus and tried to duplicate what they were doing. I spent years trying to figure out what to do.
Once I finally surrendered and got the help I needed, I learned there were five key things you must have to build a successful coaching business. I also learned that most new coaches and some established coaches were missing the mark in these areas. Hence, my desire to start helping coaches get it right.
You probably think the first mistake is about not having enough money to start or maintain a coaching business. False!
The first common mistake is not developing the right mindset (money mindset) to be an entrepreneur or business owner.
I will not sugar coat it, being an entrepreneur is not easy. It requires a lot of time, dedication, commitment, long hours, and yes – the right money mindset.
The second mistake – not taking the time to identify their ideal client and target market.
Once I obtained my coaching certification, I thought I could coach the world. Here’s the deal, if you are a ‘real’ coach you could most likely coach anyone on any subject. But the truth is, you can’t build a successful business by trying to market to everyone.
Mistake number three – not having a step-by-step system by which to lead your clients through so they can get real results.
Having a signature coaching program allows you to have repeatable support, an easy to follow system for your clients, and a way to scale your business.
The fourth mistake – not having an effective sales funnel. I know, your eyes are probably glassing over, but it’s not that complicated. I promise.
A sales funnel is not some scary, monstrous thing. A sales funnel is simply the process prospects go through to become paying customers.
Sales funnels are important because it takes your potential customers on the journey of the buying process.
Finally, the fifth mistake – not having a strategic launch plan. Most new coaches (and some established ones) think they can post about their new program just one time on Facebook and the masses will come running to sign up. Not so!
A strategic launch plan allows you to test and tweak until you reach the right audience. It also provides a way to measure the success of your launch. You must have a goal for each launch and a strategic launch plan will include your goals.
These five things are all the pieces I used to try and emulate watching the gurus. I failed at it miserably until I hired my first business coach to help me understand and implement this process.
Are you missing any of these steps? Do you need help implementing them? That is exactly what I help my clients do, create and implement these steps so they can build a profitable coaching business.
I have available slots on my calendar to have conversations with those that are ready to get their business in order and start making real money. Let’s talk about what you need to generate profits in your business. You can schedule some time to chat with me by CLICKING HERE.
Here’s to Designing Your Victory!
PS Stuck trying to find the right topic for your next online course? You can't just choose any old topic to create a course about. You want to be strategic with the topic as it can mean the difference between generating $0 and $34,000 in a month.
The right topic is one that your audience is ready and willing to give you their credit card to learn about.
Get your FREE Where to Find Inspiration for Your Next Online Course guide so you can nail it and start producing an income from your course.
PS Stuck trying to find the right topic for your next online course? You can't just choose any old topic to create a course about. You want to be strategic with the topic as it can mean the difference between generating $0 and $34,000 in a month.
The right topic is one that your audience is ready and willing to give you their credit card to learn about.
Get your FREE Where to Find Inspiration for Your Next Online Course guide so you can nail it and start producing an income from your course.
Excellent! Great food for thought – thank you!
Thanks Kelly!
You are always providing amazing content. Great food for thought – thank you!
Thanks for taking the time to read this article. I appreciate you!