In 2022, the U.S. alone has tens of thousands of business coaches. Because of sheer volume, it might be easy to take on a belief that it’s a lot of competition. But the truth is, it’s a great sign that the coaching business is healthy and strong and there’s no reason your coaching business can’t double (or more!) as well.
…but there are secrets that no one will tell you about growing your coaching business.
One of the questions I get a lot is, “How can I grow my coaching business right now?”
We all want to double our monthly revenue, but when I started my coaching business over ten years ago, I didn’t find a lot of resources that told me what to do.
Now that I have a successful and growing coaching business, I’m on a mission to share the secrets that have worked well for me as well as what we share with our clients regularly.’
- Build a scalable revenue model. Many of the coaches I have met over the years, or who have come into our programs, are trading time for dollars. In the beginning, it’s a great way to hone your skills as a coach, but over time it’s impossible to scale. When I look back at the growth of my business, I wish I would have made it scalable sooner. You can develop a scalable coaching business model by increasing your prices, creating group programs, and choosing to work only with the clients you really desire to work with. When you make changes in just one of those three areas, you will begin to see an immediate impact. Focus on all three and watch your quantum leap begin.
- Focus on results, instead of your process. Of course, there needs to be a process that you follow to get your clients their desired results. It’s important to create a structure so your client feels comfortable stepping into the coaching relationship with you. But your process is not everything, and coaches often believe it is. The reason why a client chooses you among other competitors in the market is that they want results. Period. Once your client has made the decision to coach with you, immediately help them create a plan to reach their goals. When you do this, your client will feel confident that you are helping them get to their goals and that belief and confidence will help them stay the course.
- Focus on the needle movers, instead of the busy work. I get what you are thinking. Having a schedule and a proper routine is a gateway to success in business. But that’s only effective if you are focused on the “right” things. Believe me, I get it! I often have shiny object syndrome and it can be challenging to focus on the things that show up in front of them like email and phone calls rather than the needle movers (sales, marketing, etc.!) that will move your business forward. My favorite book on time management is “Eat that Frog” by Brian Tracy. Tracy shows us how important it is to get those things done that we don’t want to do first—especially those things we don’t necessarily want to do.
- Instead of better, build best relationships. Building strong and authentic relationships is critical to the long-term success of any business. As my good friend Chas Wilson, founder of Master Networks says, “You are just one relationship away from changing your life.” Whether it is clients or strategic business partners, when you align with those who share your values and who are also successful, you and your business will naturally be pushed to the next level.
If you are a coach, I truly hope this information helps you begin to look for ways you can grow your coaching business right now because your quantum leap is waiting for you right now.
Take a moment to get really clear on the next two steps you want to take to move your coaching business forward today. Then, take those steps!