Have you ever wondered what separates the successful coaches from the not-so-successful ones? What are they doing right that the rest aren’t doing? What’s setting them apart? What are these successful coaches hiding?
As a business manager who has helped coaches from varying genres turn their practices into streamlined admin efficient coaching businesses, I’ve worked out a thing or two that successful coaches do, that unsuccessful coaches don’t. Here’s what these coaches are hiding.
1. They work with big firms
The most successful coaches are those who coach mega-corporations. However, according to the Australian Institute of Coaching, the higher grossing coaches are those who work with large companies. These coaches are raking in upwards of $275,000 annually. Also, these types of coaches tend to charge $500+ per hour.
2. They run their practice like a business
If you want to be among these top-earning and successful coaches, you have to stop running your coaching practice like a side gig and more like a business. This means that you have to have the proper business systems needed to grow. And just what are these systems? Structured diary management, good customer care service and well-run back end operations not to mention the processes and systems successful coaches have in place.
3. They delegate routine tasks to others
There are only so many hours in a day. Contrary to popular belief, you can’t do everything – even though you’d like to. The most successful business people will tell you that the secret to getting things done is to delegate. Popular American author and life coach, John C. Maxwell once said, ‘If you want to do a few small things right, do them yourself. But, if you want to do great things and make a big impact, learn to delegate.’ The choice is yours.
4. They invest in themselves
You cannot grow a business beyond what you know as a coach. If you want to make the practice better, you need to spend time investing in your skills as a coach. But, you can’t do this if you’re too busy doing the stuff you don’t know how to do or want to do! You can’t be the front desk operator, secretary, customer care person and coach all the same time. Something has to give so you can free yourself up to take extra courses on improving your craft. Successful coaches do this by hiring experienced business managers like JMJ to help them in these areas.
5. They network like Casanova
As a coach, your networking skills need to be next level to land the big clients. You need to be out there where the action is. This might be attending conferences, seminars, dinners or luncheons. The critical thing is you’re out there networking. Successful coaches realise that business is all about relationships. If you want to establish relationships with new people and broaden your coaching pool, you need to step outside and start networking like Casanova.
6. They keep in touch with their clients
It is often said, ‘Out of sight, out of mind’. There is quite a lot of truth in this statement. In the coaching business, if you want to stay current and relevant, you need to keep in touch with your clients, past and present. But thankfully, because you’re striving to be a successful coach, you have a good team working with you who will remember to handle these small pleasantries. It’s these small gestures that will set you apart and make people remember you. You don’t have to be in their face every day with emails, texts or phone calls but an occasional text or email to offer a catch up over coffee goes a long way to keep you top of mind.
7. Personally branded businesses
Jane Anderson, a strategic communications expert says, “If you can brand authentically, market persuasively, and sell confidently your business grows”. I think Jane is spot on, I’ve personally seen coaches who have put in the hard yards to build great personal brands are trusted more, they have a perceived higher worth, stand out miles apart from their competition and are more likely to be known as an expert in their field. You can’t be a coach and a shrinking violet at the same time, it just doesn’t work.
Why JMJ – EA for a Day?
We’ve been helping clients win more clients and build their coaching practices for eight years. With a long list of clients in Australia and overseas, we understand the type of help that coaches need with their business. Our clients’ service Ministry, Professional Services and C Level Executives around the world. We understand confidentiality and operate only with the utmost integrity; we walk the walk and talk the talk.
Book an appointment with JMJ today.
Still not sure where to start from? Here are 4 Things That Won’t Help You Grow Your Coaching Business.