You Were Promised You’d Make Money as a Coach! So Where is It?
Your first year as a coach will most often be one of laying foundations. For most coaches, the clients and therefore the money simply fail to come in a steady or easy flow. It’s a very dangerous time for most new coaches as it’s this uncertainty and lack of income that will cause many new coaches to GIVE UP on their dream of helping others. And considering the $$$ you’ve spent on your coach training, that’s a very sad thing.
Here’s the ways you’ve been told how to make your first $75,000 – $100,000 year as a coach.
1. Have a constant rotation of 10 – 15 one to one personal clients at around $150 – $300 per session. (not what I do. I only have about 5 personal one on one clients at a time)
2. Run group programs about 3 – 4 times a year at $2500 – $3000 per participant (this is what I do and aim for 10 – 15 in each group. This gives me greater lifestyle freedom as I’m not coaching one on one all the time)
3. Hold seminar or events with ticket price from $197 – $2,000. Get 20 or more people in the room. Do this 4 times a year, and upsell to private VIP coaching with you. (I do this with a few in person events per year in Sydney, Melbourne, Brisbane and then I may convert a few in the room to my high end packages which are $14,000 – $20,000)
All sounds very lucrative doesn’t it?
There is a Catch!
Most new coaches are NOT able to get the steady flow of clients, fill group programs, or pack a room SIMPLY BECAUSE THEY DON’T HAVE SOME KEY ELEMENTS.
The 6 key elements that will enable you to make $75K – $100k in your first or second year as a coach are these:
1. You must be the EXPERT in your field. Most new coaches are still in student mode and racked with self-doubt. CONFIDENCE and the ability to articulate well what you do and be able to express your knowledge is what will ATTRACT potential clients to you.
2. You must get out of pay by hourly session mode and create PACKAGES, that will keep your clients with you for a longer term. You’re good at what you do. So damn good that I bet you solve your client’s problems with a few sessions. And then they don’t need you anymore! When you have them signed up for a package, say 6 session, 4 month, 6 months or even longer, they stay with you and you are able to create even more magic for your client.
3. You must stop calling yourself a Life Coach. You must have the LANGUAGE that will have you stand out, and ‘Life Coach” or even “Transformational Coach” is not it. What do you really do? And who do you do it for? I’m a Profile Building Alchemist for Coaches because I ignite Brilliance in my coaches and turn them into coveted Gold.
I know of a Spiritual Business coach who calls herself The Supreme Resourceress. Now that made you take notice didn’t it?!
Come up with a unique title that tells what you do and who you do it for in a very individual way.
4. You’ve heard it before: You MUST solve a PROBLEM that is urgent, painful, and expensive and that the person can’t solve on their own. Yes you must have a NICHE. And “helping people clear their limiting beliefs” is not a niche. What is a niche is that you help “stressed out, overwhelmed young mums believe in themselves and build the confidence and knowledge to start their new home business so they can stay at home with their young children, while still bringing in income to the house.”
5. You’ve learned a lot during your coach training about coaching skills, hopefully how to market, some business skills. If you’re truly invested in your future you’ll have hired your own coach or mentor, or have invested in some programs, whether home study or group that will further your knowledge on how to build a coaching business. What you MUST do is APPLY APPLY APPLY your new knowledge. I’ve seen so many people buy products and never act on them. Including some of my own!! Invest in a few quality products, preferably one at a time so you can focus on that one thing, and then ACT on what it teaches you.
6. So you’ve done all of the above, and still no one is calling your number, emailing, or messaging for your services. So what have you done wrong?
Nothing. You’ve done every thing right.
Its simply that nobody knows who you are …….
And that takes you back to square one. No Clients no matter how good you are.
To attract a steady flow of clients you must do all of the above, and you must BUILD YOUR PROFILE. If we don’t know who you are, if we don’t SEE You, or HEAR You, we can’t possibly discover how you are the answer to our prayers.
Boosting your profile can be a challenging thing to do for new coaches.
What do you do to boost your profile?
What if someone doesn’t like you or what you have to say?
What if someone sees you’re inexperienced and calls you out as a fraud?
There’s so many avenues out there: videos, podcasts, you tube, Linkedin, Facebook, Twitter, Instagram, Blab, Periscope, The Huffington Post, Blogging, lead magnets, website opt ins, e-books, audios, speaking, workshoping, networking, online? Offline?, JV’s ……. Where do you start? How can you possibly fit them all in?
It’s confusing I know. And that confusion is what is keeping you from taking the step … because you don’t know what to do. And that paralysis is what is keeping you from attracting clients. And not having clients is what will keep you from earning money as a coach. When you don’t earn any money as a coach, especially good income, your dream of the freedom that coaching will give you … will be gone. And you’ll be back working for someone else stuck in the very rat race you wanted to get out of.
What if you could Kick Off your coaching career with a quick, fast and effective solution to boosting your profile so that you’re seen and heard? My 8 Week program KickStart Your Influence Program was created for beginner coaches to do just that! It’s confidence boosting, and lays out the exact First Steps that you need to do to begin building your profile so that you ATTRACT clients to you. I invite you to see if it will suit you here: KickStart your Influence.
When you’re first starting out, or if you’ve been in your coaching business for a while and disillusioned with the income you make, I want to encourage you that people WILL pay you to solve their problems!
You only need to be able to stand out and show them that you’re the one to do it for them.
Vanessa TalbotProfile Builder, Success Guide and Coach Mentor Creator of Step into the Spotlight: The illuminating program for coaches to be Seen and Heard! Contact Vanessa here