11 mistakes new coaches make in business
Most coaches start in business for reasons like, for example, they want 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 score the difference in their lives. No matter what the reason is, being a coach is a fantastic profession to get into. However, what many coaches don’t realize until they are in the early stages of their coaching career is that starting a coaching business is not always as easy as it sounds. Many Coaches have a hard time trying to make it work and make that leap into a successful Coaching business. In this report, I’ll share with you eleven mistakes new coaches make that keep them from reaching their ultimate goal of running a successful business.
Mistake # 1: Spending too much time preparing!
Many coaches spend too much time preparing to start. They work on their website, their marketing materials, finish their Coaching training, and focus too much on “getting their ducks in line” instead of going out and starting Coaching. Many also feel that they are not ready to train because they think that they are not good enough yet, but to be honest, you won’t learn until you get out there and train. You will only learn how to improve it once you notice the mistakes you make while making them or realize that you could make some changes in certain areas, but the key to becoming a good Coach is you have to practice! Think back to the time you started a new job, didn’t prepare for weeks or months to start that job, no, you learned and got better doing it. Everything is a learning curve.
Error n. # 2: not having a coach who can guide them through the process
Each coach should have their own coach who can guide them forward and help them overcome 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 keep going. Of course, you can try to figure things out on your own and spend a lot of time and money on things that don’t work. Where, if you work with a Coach who has already been there and done it, and learn from him, you can get to where you want to go much faster.
If you are concerned about not being able to afford a Coach, especially when you are just starting out, consider this … how can you expect others to pay for your Coaching services if you are not even paying for a Coach? Also, think about the amount of money and time you waste on things that don’t work or trying to figure things out on your own. Some coaches even work with you on fees and some even agree to some kind of bartering service.
Error n. 3: Don’t collaborate, they’d rather remain an army of one!
As a coach, it is important to collaborate with others in the same industry or they may even be in a completely different industry. Many coaches think they are in business for themselves, but the truth is that only when you collaborate with like-minded people will you get where you want to be … create an army of many instead of remaining 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 industry experts, they can promote you to their network and you can promote them to your network, it’s a win-win situation.
In today’s day and age, you can even collaborate with people around the world and develop your business domestically and even globally.
Error n. # 4: train too much and not apply what you learn – apply it as you learn
Have you ever thought to yourself that you must complete this course before you can start, or do you still need to take this course and that course, and maybe even this other course as well? Too many coaches get stuck in the “learning phase” where they take all kinds of different online courses trying to improve their skills or trying to learn more that they can offer their clients, but instead of applying what they learn, while they learn it, they continue taking courses without applying what they have learned. The best way to learn something is by doing and applying the things you have learned.
Error n. # 5: give away your services for free or not charge enough
Beginning coaches often feel like they can’t charge a lot or nothing for their services because they are just starting out and don’t have much experience yet. Now let me ask you this, do you think doctors who just finished medical school offer their services for free? Not! They charge for their services because they went to school for many years to learn to be a doctor and they are providing a service. The same goes for Coaches, they have undergone training, they have learned to be a Coach and they also provide a service. You also don’t need to tell clients that you are just a beginner or that you haven’t had that many hours of coaching, if they don’t know, don’t advertise. You are an expert and you must position yourself and present yourself as an expert because most likely you know more about Coaching than your clients.
Now as to how much to charge, even when starting out for the first time, you can charge more than $ 50 or $ 75, you have to base it on your demographics and your target market.
Error n. # 6: don’t choose a specific niche
Many Coaches do not choose a specific niche, they want to help each and everyone, the only problem with being too broad is that it makes it difficult to find clients. Any marketing strategy would be like throwing mud against the wall, some sticks but most of it falls off. The same goes for marketing for everyone; it would not be very effective. Instead, choose a specific niche and become an expert in that niche, for example, a Life Coach who specializes in setting goals or finding your dream and passion; Another example would be a relationship coach who 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 people who are going through a divorce or people who want to find their true passion. Choosing a niche will make your marketing efforts much more effective.
Error n. 7: don’t treat your business like a business
When starting your Coaching business, you should treat your business as a business where you focus on growing your business and generating income. If you don’t get any income, if you don’t have anyone to train, 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 every day. Sometimes that also means not hanging out with friends instead of working on your business. Only when you treat your business like a business can you turn it into a successful business. This is especially true if you still have a full-time job; you have to invest the necessary time in growing your business, in marketing and networking.
Error n. # 8: think that customers will come to them
Just because you open your doors and start offering your Coaching services doesn’t mean clients will be flying in the door! Unfortunately, it is not that easy. You have to go out and find your customers, you have to raise awareness and let people know that you are in business. As a Coach, you have to focus on the things that get the word out, you can do webinars, go to trade shows and exhibitions, do seminars and workshops, anything that gets 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 clients and eventually become frustrated because they have a hard time getting clients. The key is to get out there and network, network and network some more.
Error n. # 9: try to do everything
Being in business means you have to do everything related to running a business, from doing your accounting, your marketing, creating products, making calls, scheduling appointments, sending emails, to conducting your coaching sessions. All of these things are important and a necessary part of running your business. However, sometimes you can feel overwhelmed and that the day does not have enough hours to do everything. One thing you can do is hire a virtual assistant or outsource some of the things that take up most of your time. For example, your accounting or building your website, things like that that you can outsource. Even if you’re just starting out and don’t have the cash flow yet, try delegating so many things to free up your time where you can focus on getting customers or creating products. Delegation is a very important part of being in a business, you just can’t do everything 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 talk on the phone or talk to your clients?
Error n. # 10: Don’t Focus On Building Your List – Getting Leads
One of the first things you should focus on is building your list. You need to have people you can contact about your services and the key is to build your contact list and get leads. There are different ways that you can create your list; You can make a subscription form where you give away a free report, for example, in exchange for someone’s contact information. You can also collect business cards at exhibitions or networking events, connect each contact to your database, and start marketing them. Get started on building your list from scratch and make it a priority. You need to have a large number of leads that you can market to and that you can reach. Start building your list!
Mistake # 11: Being a perfectionist
Being a perfectionist is a huge challenge that many Coaches face because they try to make their website, blog, Coaching Packs or products perfect before publishing them. The problem is that you will never get it perfect, you will always find something you don’t like and you will spend days, even months, trying to get it perfect. Instead, focus on completion rather than perfection. Once you launch a course, product, or launch your website, you can always make changes on the fly.