Running a coaching business (just like any other business) has its hardships and is definitely not all sunshine and roses. I have several friends who are business coaches and one of the more commons things I hear from them is that coaching can be a very rewarding occupation, but it does have its own set of challenges and frustrations.
I had a chat with a few of these friends and asked them to give me more insight into their world — I asked them what are the top 5 things no one told them when they were first starting out and I’m here to share those top 5 things with you.
1 Marketing Skills & Coaching Skills Go Hand-In-Hand
Good marketing is honestly so important to every business and the coaching business is no exception. You can be the most qualified and amazing coach out there, but unless you’ve learned how to apply the right marketing techniques to your business, then you’re going to struggle to find clients and to stand out from other coaches.
When you focus on your marketing, you’ll find that you’ll have more of a chance to grow your business and to reach more people who can benefit from your services. Without a proper marketing strategy, you will struggle to build your own community, as well as to attract the right audience or people that you want to be working with.
2 It Can Get Lonely Sometimes
One issue that a few of my friends had in common was that they didn’t expect just how lonely it would be to start their own coaching business. Leaving a company where you’re used to working with other people in an office and then going into working by yourself all the time in your house or from a coffee shop, can be a huge change.
Things can get kinda lonely really quick. You won’t have people around all the time that you can just bounce ideas off of or go to lunch with. You’re going to have to learn how to work on your own time and in your own space, by yourself.
However, this can be a great motivation for you to work towards building a community of potential clients and to connect with other people through networking events.
3 Your Business Won’t Work Until You Do
Building your coaching business takes serious work. Don’t get me wrong, at some point in the future when you’ve finally nailed down your strategies, skills, and sales funnel, you might be able to take a step back and turn your coaching business into a passive income business. However, if you’re just starting out, then you’ve definitely got your work cut out for you.
Put in the time and effort to grow your business and just know that your business will not grow or make money without you investing those two things into it.
4 Stand Out Rather Than Fit In
When you’re first starting out in the coaching industry, you need to remember that it’s perfectly okay to stand out. You should watch what the other coaches are doing, but you shouldn’t worry about what they’re doing. Don’t be afraid to be you.
In fact, by being you, you’ll have more of a chance to attract the right people for your business. Consider who you are as a person, what your values are and what your strengths are, and focus on those things. You don’t want to blend in with everyone else out there, so work to make yourself stand out!
5 Mentors Are Invaluable
Having a mentor is absolutely necessary. Simply having someone in your life that can provide you with some insight and experience can be imperative to the success of your startup. You can gain so much valuable information from people this.
My friend mentioned that he was able to build on a lot of his ideas only because he had someone in his life to shine a light on the right path. There’s nothing wrong with seeking some mentorship from people who have walked down the same path as you before.