Do You Want to Make Money Coaching?

Do you want to Make Money Coaching?

It may seem like a silly question… but it’s been my experience that a lot of aspiring coaches would rather spend time on activities that don’t make them money than focus their time and attention on those activities that do.

It’s not just aspiring coaches that struggle with this issue.  Timothy Coote offers this salient piece of advice.  DO THINGS WHICH MAKE MONEY.  He goes on in his post Frogs:

I understand all of the new gurus bleeting on about having a passion for participating in conversations et al. And this is great if you are a business and you have in place a plan to make money out of those conversations. If you are not in business this does not apply to you so you can go back to chatting, blogging, facebooking, twittering, whatever it is you do which makes you feel good. If you have a business then your number one priority is to make money and I don’t care what anyone says. All the kindheartedness and social well-being you have pent up which you want to impart on the world as a business owner means nothing if your business is going down the toilet.

So how is it exactly that you plan on making money with your coaching practice?  

Your coaching practice at it’s core is just like any other service based business.

  • Your accountant offers his/her professional advice on your finances and taxes.
  • Your medical doctor offers his/her professional advice on the state of your health.
  • Your personal trainer offers his/her professional advice on improving your fitness level.

You’ll notice, you don’t go to your medical doctor to get advice on your taxes.  Meanwhile, your CPA doesn’t get the call when you’re ill.  Yet time and time again, I’ll hear coaching professionals claim that they are creating a business which will provide help for everyone with every issue.

Begin building a solid foundation for your business by deciding what services you want to provide and to whom you’ll provide those services.    It’s amazing how much CLARITY defining your target market can provide.  Once you’ve decided who you want to help and how, then things will begin to come into focus.   But determining your target audience is the first essential step.

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Business Challenges: Learning to change

Change is usually a topic covered in  quite frequently among coaching professionals and consultants.  Whether you work with the topic of change in your client’s businesses or you address the importance of change in your client’s lives…. change presents a challenge for all of us.   Learning change is an essential skill.

What changes do you need to make in your business?  Are you pursuing change for the sake of happiness?

According to Sue Burness in her post “Start From Where You Are”

It is possible to make HUGE changes in our lives, but only when we’re ready!

Are you ready?  What do you need to create successful change your coaching business?

Maybe the change you need to make is how you view yourself…. if you’re a coach chances are you’re highly creative.  Take a moment to read the blog post “The ten paradoxes of creative people“.  Maybe you need to quit putting lipstick on a pig…. maybe you need to focus on creating community… maybe the matter is urgent… and if you don’t change then your business will die.

Learning to manage change is probably the most difficult part of managing your business.

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