12 Keys to Starting Your Coaching Business BY KYM MULCAHY
Introduction
When starting a coaching business, you want to make sure you’re focusing on the things that count first.
You want a coaching business that provides you with the ability to make an impact and an income.
Start by focusing on these great foundations to build your coaching empire.
Follow the 12 Things You Must Nail When Starting a Coaching Business.
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1. Your 5 Star Mindset
The main thing separating the struggling from the successful has nothing to do with talent, expertise or the biggest social media following. But everything to do with a success mindset
The coaches who rise quickly are confident in their abilities, prepared to do the work and determined to succeed no matter what.
Start getting good at squashing those feelings of doubt, fear, dread and being self-consciousness about your work.
It’s absolutely vital that you know and believe with every ounce of your being that your work is massively important. Kymmulcahy.com
2. A Strong Coaching Muscle
Your coaching skills are like a muscle that you need to keep building up over time. The more you flex and use them, the stronger they will be.
Do whatever you can to keep your coaching practice active.
You can offer to coach pro-bono clients, connect with your fellow students at coaching school and practise coaching each other.
One thing I recommend to brand new coaches, is for them to offer a Free Introductory Coaching Session to their contacts on social media.
It’s a great way to show a potential client your skills and the results you can help them achieve. Kymmulcahy.com
3. Your Unique Specialty
There are a thousands of new coaches going into business each year.
That means it’s a growing industry and the general public are getting more aware of what coaching is, and how coaching can help them.
Competition is getting tougher, particularly for new coaches who are not established.
It’s a much smarter (and profitable) move to become a specialist and niche down with a certain a skill set, a special area of expertise.
You want to find a point of difference in the marketplace.
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Your Unique Specialty (cont.)
Get clear on what unique combination of strengths, attributes, life experience and expertise you have that make you unique as a coach
Identify what type of people you love to work with and why you would love to help them
Know and understand the needs, desires and challenges of those particular people
Knowing who you help and what they need is key to not just coaching them, but also to designing your offers, planning your marketing strategies and communicating effectively with your potential clients. Kymmulcahy.com
4. A Genuine Curiosity
If you truly want to be a great coach, you need to have a genuine interest in people.
Get in the habit of being curious of what goes on around you.
Pay attention to people as you go by your day-to-day life — take note of their habits, conversations, challenges and outlook on life.
Seek to understand others and be curious about their wants and needs.
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5. Communicating Your Value
When you know how to communicate your value your potential clients will instantly see your value too.
The best way to determine your “coaching” value is to look at the “results” you can help your clients achieve.
Clearly communicate the “outcome” or transformation you create for your clients.
Selling your services will be easier and creating your marketing campaigns will be easier too.
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6. Pricing Your Coaching Packages
Pricing your coaching sessions is one of the biggest hurdles new coaches have when building a business.
So how much should you charge for your coaching services?
There is no “right” price in the coaching industry.
There’s only the price that is perfect for you, based on the level of results you can achieve for your clients.
Do your research and look for the “average” pricing for other coaches in your niche. Note what results they’re consistently achieving for their clients.
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Pricing Your Coaching Packages
Consider your income goal. Is it realistic for a new coach? Does it cover your living expenses? Also figure out how many clients you will need to convert (and at what price) to reach your income goal.
The best price to start with is always one you feel confident and enthusiastic about. A good way to test the “energy” around the right price for you is, think of a price that feels “easy” for you to achieve.
Consider pricing for a coaching “package” (ie; 8 x 1 hour sessions or 3 months coaching) instead of pricing by the hour.
Remember you can always raise your prices gradually over time and as you gain more experience. Kymmulcahy.com
7. Your Magnetic Message
Introduce yourself to as many people as possible (online and offline), so they know what you do and how you help people.
Get confident sharing a clear message that still sounds like you.
Nail a friendly brief “cocktail line” to introduce yourself in person, as well as a magnetic marketing message to share across all of your marketing.
Immediately puts you ahead of the new coach who is still fumbling around trying to explain what they do.
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8. Your Irresistible Offer
Learn how to package your expertise in way that is enticing to your ideal clients.
Every coach needs to know how to package, position and promote their expertise effectively.
You can’t sell a service that customers just don’t want to buy.
Irresistible offers that sell like hot cakes, rarely happen by accident — they’re specially crafted for the client’s needs & wants.
Irresistible offer can be the actual packages and programs you promote, whether free or paid.
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9. Heart-Centered Sales Skills
How do you sell your coaching services and attract clients without sounding (or feeling) like a pushy salesperson?
Sell from the “heart.”
Selling with heart comes from a place of helping and listening, rather than pushing and convincing.
Coaches that sell really well, know that a sales conversation is never about them.
The sales process becomes so much easier (and enjoyable) when you take the focus off yourself.
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10. Track Your Progress
What gets tracked gets done.
Tracking your progress, should be done across all elements from your business.
When it comes to tracking prospective clients, you want to know who you’re talking to and when you’ve spoken to them.
Find a fun way to track your business activities.
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11. A Solid Marketing Strategy
Build a thriving coaching business that helps make a difference in the lives of others.
Learn to market your business well, so you can attract coaching clients consistently.
Use meaningful marketing (also known as relationship marketing) to grow your business.
Use marketing methods to reach out and connect with your potential clients with engaging, helpful and relevant content.
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12. Walk Your Coaching Talk
The very best coaches – the ones that attract an endless stream of clients – build multi-million dollar empires and audiences around the globe, always “walk their talk.”
If you coach people on developing a success mindset, then it would be expected that you’re also developing your own success mindset.
Deliverion what you promise. People will lose trust in you, if you’re all “talk” and no action.
People want to work with coaches, they like, feel like they know, and most-of-all trust. Kymmulcahy.com
13. Support From A Mentor (bonus)
The fast-track to success is to work with people more successful than you.
Million dollar business owners have all reached their pinnacle of success, by investing in professional coaches and mentors.
They invested in them when they were still living in their parent‘s garage or hustling to get their business off the ground.
A mentor can give you new ideas and proven strategies.
A mentor will keep you accountable.
A mentor will help strengthen your leadership mindset.
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Support From A Mentor
A great mentor will help expand your vision of what is possible, and then equip you with the roadmap to get there.
Without the strategy and ideas a great mentor can bring, you will likely take months if not years to figure out how to do it alone.
knowing how to strategically map out and implement what you specifically need for your particular coaching business, is a skillset that most new coaches do not have.
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Free Training
For more great ideas on how to build your coaching business and stand out from the crowd, watch this training where you will learn:
The 3-step system you can implement immediately to attract more clients, more profits and more freedom!
The little-known secret for growing an online community, so you’re always the first person they think of when they need your type of offer.
The critical social media marketing mistake most business owners make that is costing them thousands and sending potential clients running for the hills - and what to do instead Kymmulcahy.com
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More Clients Training FREE TRAINING –LINK IN THE DESCRIPTION
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https://go.kymmulcahy.com/more-clients-webinar
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