Business Mistakes That Most Coaches Make No.4/12 – Not Being Good Enough
When you are starting out as a coach, and even if you have been coaching for a while, the thought will come up that you are not good enough. You will compare yourself to others and decide that they are better than you; they know more, they have better skills or, they just have something that you don’t.
You will see them talking about their clients, you will see them doing well and it could seem like you will never have what they have.
Some days are better than others, but, when you have very few paying clients it is hard to quieten that voice.
The voice inside you that says you aren’t good enough…. is right!
As hard as this may be to accept, if you haven’t got a thriving coaching business the reason is because you aren’t good enough.
You have done your training, you have helped quite a few people and know that you can make a difference but until you have worked with a lot of clients who pay you and have proven time and again that your coaching is effective, you are just a hobby coach. (That one may hurt, but think about it)
Most coaches will never make enough money for it to be their only source of income and of those that do, the majority are scraping by to pay their bills. If you thought that being a coach would be an easy way to make money, you will soon find out the truth: that is takes dedication, a lot of time and a deep commitment to getting better. It is one of the most difficult professions to succeed at because there is no clear path.
I made an important commitment in January 2014, when I had a full time job, to become a World Class Coach. I decided to dedicate myself to making that happen. It was such a profound commitment that it shaped my actions every day; it shaped the person I was being in every part of my life; I studied hard, trained hard, paid a lot of money for my own coach, committed to stretching myself day after day, I coached as many people as I could.
I joined a coaching programme to learn how to make a successful coaching business but I wasn’t ready for that. Although, I had trained for years in many different psychological disciplines and I had made a difference to a lot of people, my coaching skills were still quite basic. I thought I was further along than I was and when I was being coached it highlighted that I had been wrong.
I wasn’t good enough but I was willing to do what it takes to become world class
When my ego allowed me to see that I had so much to learn, I set about becoming the best I could. I paid very close attention to what my own coach was doing; I asked questions, I challenged him and myself constantly.
I put myself in situations that I wasn’t ready for; coaching people who were way ahead of my current ability to help, like an Olympic gold medalist. By doing that, I had to step up. I used the resource of my own coach to show me where I was holding back; what I couldn’t see.
I made mistakes though; I was so eager to quit my job and make money as a coach that I rushed the process. I put off people I was coaching by being needy about them paying me. I put my fees up too high because of a silly story I had in my head that I deserved the higher fees because of all the time I had put in so far. I also made judgements about what someone could afford and asked for more money because of it.
If you have no clients it doesn’t matter what you say your fees are
As I had set my fees too high, it meant that people kept saying no to working with me. I had people who wanted to but said no because I was rigid in what I was asking for. I didn’t take a step back to see what I was doing.
I was greed and needy; a really bad combination and it was evidenced in my results; the tiny number of people who actually paid me money.
If I could go back, I would drop my fees massively and just get people saying yes that I could work with in a committed way. I know I would have helped more people and my business would have taken off much sooner if I had.
Be World Class And Help A Lot Of People
If you truly want to help people and get paid well for it, stop putting money in the way! Stop having fees that put people off and make it easy for them to say yes to working with you.
Here is a simple and effective formula for building a thriving coaching business:
- Help as many people as you can every day just because it feels good
- Invite some of them into a coaching session to help them further
- Offer to work with some of those people over time who will pay you
- Keep your fees much lower than the value you KNOW you can deliver
- Learn from every coaching session how to be more effective
- Repeat for the rest of your life
Become an exceptional coach first and then you can make as much money as you want
Too many coaches get it wrong; they hold back their coaching until they get paid. Instead, start low and only raise your fees when it feels really good to do so.
Don’t be like the herd; commit to being World Class and help a lot of people!
When you do that, the voice in your head will go quiet because she will know that you are becoming good enough.
Question to ask yourself to grow your business:
Who can I help today?
Here is a 40 minute case study conversation I had with a previous client who is a coach. He was able to quit his part time job to become a professional coach because of the work we did together.
In the video, we talk about what it is like to be in a coaching relationship with me and the details of what he did to transform his circumstances.
If you want to find out how I can help you become a far more effective and successful, fill in the form below or email me here: firstname.lastname@example.org