Coaches are asking to see the video of Top Ten Secrets to Making a Living as a Life Coach. Okay, here it is. Click the image below, register with your name and email and download the video to your device. It's a safe download. Have fun!
Topics: business coach, blogging, coaching clients, make a living as a life coach, make a living as a coach, Facebook, Life Coaches, marketing and sales, LinkedIn, Social Media Marketing, Marketing for life coaches
I've written previously about how executive, business and life coaches make money. And we have a free eBook that goes into detail about life coach salaries. But here's something we don't often write about: How else do professional coaches make money?
The number one question that business and life coaches ask me over and over and over is, 'How do I get coaching clients?', which is code for, 'How do I make money as a coach?'
At any given time, there seems to be a large percentage of coaches who are hungry for more paying clients. Some of them even have a limiting belief that you can't really make a living as a coach.
The following post concerning how long coaching client engagements should be is inspired by a conversation at School of Coaching Mastery's members-only Water Cooler Forum. A student wondered how to set up coaching client engagements.
As a professional service provider, there are two things you must learn in order to succeed with coaching.
1. How to coach professionally: This includes polishing your coaching skills until you provide value worth approximately 10 times what your clients pay.
2. How to attract coaching clients: This includes filling your client roster for the first time (usually the toughest) and then keeping it full or even maintaining a waiting list of eager clients.
Obviously, #1, providing 10 times the value, will help you with #2. But did you know that #2, attracting lots of coaching clients, is the key to #1?
Mattison Grey is professional business and leadership coach and the founder of Greystone Guides, a high performance coaching and consulting firm. Her clients and fans enjoy her contrarian views and her courage to be provocative in a way that challenges the status quo. Mattison is fascinated by the gap between high performers and low performers and what it takes to go from mediocre to masterful in a chosen endeavor.
Coaching is a popular choice of profession for people right now.
Seems like everyone is a coach or is becoming a coach, doesn’t it? That is no secret. The trouble is there are secrets about coaching and having a coaching business. Secrets no one is telling beginning or emerging coaches.
Topics: coaching business, Coaching, become a coach, Coaches, becoming a coach, coaching clients, make a living as a life coach, Mattison Grey, Masterful Coaching, Julia Stewart, reasons to become a coach
It's popular to use coaching as an upsell product with an upscale name like, platinum, diamond, gold, or elite.
This is usually based on a business model that starts with a big 'reach' (tens of thousands of email subscribers and followers on social networks), then moves to thousands of leads (people who signed up for something for free), then hundreds of customers (people who bought something in the $20 - $500 range) and finally moves to the small end of the marketing funnel with a few small-group or one-on-one coaching clients who pay you hundreds or thousands of dollars per month for your attention and time, a.k.a Coaching. This is called a marketing funnel, because it starts with a huge number of contacts and funnels down to a small number of clients who each pays you handsomely.
Free teleclasses (aka: teleseminars, teleconferences) are an incredible way to learn amazing new stuff from top-notch leaders.
Most new coaches and a lot of not-so-new coaches love to spend time on fantastic teleclasses. The reasons are 5-fold:
1. Teleclasses are a cheap, easy and convenient way to connect with like-minded people from around the world to talk about stuff your family and neighbors may not give a hoot about.
2. As a new coach, you have a lot to learn. What better way to learn it than to listen to the experts tell you how they did it and how you should do it.
3. Practically everyday, another not-to-be-missed teleconference series is launched that you simply must attend. Often, these conferences are free, so how can you say, 'No'?
4. You can sit in your bedroom, wear your underwear, pet the cat, drink coffee and answer email; all while you learn from the world's greatest thought leaders.
5. (Biggest reason) As long as you're taking teleclasses, you're moving forward on your path to becoming a successful coach, because you're learning and growing, right?
If you're like thousands of other coaches, probably not.
Free teleclasses are like the crack cocaine of coach training: Cheap, available everywhere, trendy (for a while), and incredibly easy to get addicted to. That last point explains why they are so available: Because people get addicted to them, they make perfect marketing vehicles.
The reason I say you are not moving forward with your business when you are on teleclasses, is for one simple reason: You can't build your business that way. You just can't.
And if you're like many of the newbie coaches that I know, the real reason you spend so much time hanging out on teleclasses is that taking steps to build your coaching business is scary, uncertain and you are soooo afraid of making mistakes.
Teleclasses are the coach's favorite excuse for procrastination.
Sorry. The truth isn't always pretty. What can you do about your teleclass addiction? Well, until they come with Surgeon General's Warnings or alarms, red flags and flashing lights, you need a plan. And you must stick to your plan. Here are a few points that might help:
- Figure out how many client hours you want to be coaching each week.
- Double that number and you have the number of hours each week you need to spend on building your coaching business.
- Mark those hours off on your calendar and use them to actively build your business. Daily.
- None of those business-building hours should be spent on teleclasses.
- Consider time spent on teleclasses as entertainment time.
- Limit your hours on teleclasses, just as you would limit a child's time watching television.
- Don't worry if you miss a teleclass program. If EnlightenNext is doing it this month, you can bet MaestroMonth will do it next month. You'll never miss a thing.
Have a big vision for your coaching business and actively create it in reality.
Unless your big coaching vision is of you sitting in your bedroom, wearing your underwear, while you pet the cat, drink coffee and answer email, step away from the teleclasses.
Photo by jerine at flickr creative commons.
It's often said that investing in your business and/or your education is one of the smartest ways to invest your money, because both will pay for themselves many times over. It's especially smart to invest when prices are low.
Topics: business coach, become a life coach, School of Coaching Mastery, become a coach, make a living as a life coach, Become a Certified Coach, what does it take to become a coach, coaching schools, coaching career, personal coaching