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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