Want a varied career, where you get to support fascinating people, and be a motivating force for change? Well, then setting up a coaching business may be just the opportunity you are looking for. Of course, there are a few things you’ll need to work through before you begin. Keep reading to find out what they are.
Find your why
Before you start seeing clients, you need to define the ‘why’ of your business. That is the reason you are choosing to go into coaching, and the values you can express by doing this job.
For example, you may choose coaching because you want to help people maximize their potential. The values that may be associated with this could include empathy, encouragement, hard work, and variety.
Indeed, identifying your ‘why’ is vital when starting up your own business because there will be rough days. Days where you think of throwing in the towel! Fortunately, your whys should get you through, and ultimately lead you not only to outward success but a real sense of life satisfaction as well.
Find your niche
Next, it’s time to find your niche. Although, this step is more of a process than an end goal. After all, in coaching, you will come across different kinds of people all the time, and so will be constantly refining the niche in which you operate.
To help you with this process, it’s a good idea to think about the people that you enjoy helping the most. Also, consider the unique benefits you offer them, what can they get from you that no one else can offer. In fact by defining these things you can much better direct your business to clients that are a good match and that you will enjoy working with.
Once you have an idea of the type of clients you want to work with, you can begin marketing your coaching business. Of course, there is a whole range of ways that you can spread the word about the services that you are offering.
Many coaches begin their marketing with a website and then build things up from there. Add a blog to drive traffic and offer valuable insights into the coaching process. Getting visitors to sign up for newsletters is a smart move too as it will allow you to build a database to which you can market constantly. Just be sure to choose the best ways to reach the people that you have defined and your targeted demographic.
Networking is a valuable part of running a coaching business. In fact, for many coaches, it can be seen as part of their marketing strategy. Networking is particularly valuable for two reasons. The first is that it can help form connections that can lead to clients, while the second is connections that can help your clients achieve their goals. With that in mind, it is important to embrace networking in both its online and offline forms.
To network successfully there are a few bases that you need to cover. The first is to make sure you have the basics in place such as a professional-looking business card, an item you can use a bespoke printing company to help you with. You may even wish to use such a company to get some brochures printed up to give to clients, something that can be a great way of pitching and making connections in this post- covid era as it allows you to make a connection without having to be face to face.
Also when it comes to networking, it’s important to recognize that there is a transactional nature to the process. Not that people pay each other for referrals or introductions per se, but that for someone to become a valued connection, one that you can ask something of, you need to do something of value for them first. What that means is forming a useful network is more than just being in contact with people. It’s also about offering them something of value such as advice, assistance, or a contact of your own, before expecting them to help you.
Set your prices
Finally, before you launch your business be sure that you have a clear price list. Unfortunately, money can be a sticky issue for coaches, but getting your pricing right is vital to the success of your business. The best approach here is to think in terms of value rather than an hourly rate.
What that means is you charge clients for the value you can provide to them concerning meeting their goals. Indeed, by charging in this way you will find yourself free to offer a range of services and choose the projects that resonate most with your values.