Here is a brief video about the upcoming weekend program “Insight into Leadership”
Your ability to SEE and IDENTIFY what is really going on for you and other people will amaze you!
Check it out!
This is a question that every coach in training, every coach who is “slowly moving” into the coaching domain and every person calling themselves a coach who is not actually at a sustainable level or is not on track to being sustainable must ask themselves.
There are some harsh truths that must be told about the coaching industry that are not being talked about enough.
1) MOST coaches are starving, median income is 25,000 +/- and average income of 48,000
2) Most coaches are “stuck” in a flawed business model called “Time for Money” and even if you “succeed” you are still stuck with significant demands on your time and significant limits on your income and freedom.
3) Traditional business approaches do NOT work for coaches, think about it, one of the most intimate, transparent and authentic relationships under the sun. Traditional “selling” simply does not fit, anyone with a clue can sense structured scarcity, and it does not lead to trust and authenticity.
4) The gold rush and the coaching industry have some strong similarities more people made money selling shovels and supplies than people made finding gold. In the coaching world more people are making money selling shovels (tools, tactics, certifications, strategies, sales funnels, product launches) than there are coaches making great money actually coaching front line clients.
Not telling the truth about these issues and figuring out how YOU will address them in your coaching and training business will definitely keep you a coach “wanna be.”
So what does it really take to thrive in the coaching industry? What does it take to be a coach “breaking free?”
Well that is the $64,000 question, which if answered properly would be about a $15,000 raise for the average coach ; )
While I have had reasonable long term success in this field, been at it 25 years, the last decade have averaged strong 7 figures, I still do not purport to have the answers to this complex question. That being said there are a few factors that have really supported me and other coaches with as well.
The fundamentals of breaking free.
There are 5 fundamental steps that each coach must go through.
1) Commitment: Get all in or all out, half assed does NOT work in this business
2) Support: personal, and professional including BUSINESS structure/design
3) Develop or buy a REAL business model: It MUST fully integrate all 6 elements.
a. Lead Generation
e. Integrated Product Suite
f. Viral Coefficient
4) Systems: Technology and automated processes at EVERY step and stage of the business model
5) Connect & Collect: Contribute value, build relationships, ask for the sale and count the money!
Lets be clear that entire books have been and will continue to be written about each and every aspect of these 5 stages. It is an unbelievable amount to successfully navigate. The truth is that the vast majority of coaches do not have the context or bandwidth to actually learn integrate and apply ALL of it.
It is overwhelming when you start looking at it. Which is part of why so many coaches struggle with what seems like a never ending learning curve. It is also why so many cope by just settling for the old routine which seems like it ‘SHOULD” work which is, “I don’t want some big practice, I just need a few clients that will replace my old job income” and this framing keeps them from building a business that actually works, and keeps them perpetually hunting for “Just a few more clients” and one more certification that will make my practice complete.
If the post resonated with you and require more support, or perhaps you have found yourself thinking yourself “I wish there was a way for me to just focus on what I love, the coaching, the facilitating, the process of actually being in service to people, without ALL the STUFF” then I have an offer of free support for you.
The following link will take you to a free video training that outlines more details about the 6 elements of a business model and much more.
In the coming weeks I will be blogging much more about the keys to creating coaching and training businesses that actually work. Opt in at the above link for more support.
Can you be an island of calm in the midst of the hurricane? Can you maintain your state when those close to you are losing it? Here is a great reminder.
“I am the source and cause of my experiences and results.”
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