While most coaches have struggled to make ends meet in recent years, a small group of successful business coaches have thrived by adding business growth as part of their long-term strategy. These coaches have built businesses, not just practices. They’ve created profitable coaching businesses, not just add-on consulting gigs. They’ve grown their coaching businesses by seeing coaching as an opportunity to serve more clients and charge more for their services. Their actions have also been informed by books like The Coaching Habit and Extreme Ownership . Here are three key strategies from these successful coaches that can help you grow your business faster than ever before:
Change Your Mindset From Being a Service Provider to Being a Business Owner
Most new coaches will enter the profession with a mindset of being a service provider. This is a natural and understandable way of approaching your business. After all, you’re helping your clients solve problems and improve their lives. But the problem is that this mindset can hold you back from building a lucrative coaching business. One of the best ways to change your mindset is to use the “ 3 P’s ” framework: Products, People, and Process. Products refers to the creation of valuable products such as eBooks, online courses, and audios. People refers to your network of clients, referral partners, and joint venture partners. Process refers to the systems and procedures you use to run your business. The “3 P’s” framework will help you identify areas to improve in your coaching business, so that you can grow your coaching income faster.
Create a Deliberate Plan For Growing Your Business
Good coaches are intrinsically motivated, but the best coaches are also extrinsically motivated. In other words, they have a clear plan for growing their business, which will help them achieve their goals faster. The best way to create a plan for growing your business is to use the “PIE” growth model. It’s a framework that has been used by companies like Tesla and Google, as well as many SaaS companies. The “PIE” growth model consists of three key elements: Product, Inbound Marketing, and Existing Relationships. Product refers to creating valuable products that your target audience will pay for. Inbound marketing refers to attracting new clients through digital marketing. And finally, Existing Relationships refers to your network of referral partners and joint venture partners.
Use Digital Marketing to Reach More Clients
By now, it’s clear that coaching is a service industry. And as with all service industries, the best way to grow your business is through the use of digital marketing. For example, one of the best ways to grow your business is by using paid traffic to drive leads to your website. Paid traffic includes the use of Google Ads, Facebook Ads, and other forms of digital marketing. Another way to grow your business with digital marketing is by using content marketing. Content marketing can be used to attract new leads to your website, as well as to build an email list. As you probably know, building an email list is one of the best ways to grow your business. In fact, an email list is a veritable goldmine of clients. When you have an email list, you can turn potential customers into subscribers, and subscribers into customers.
Get Stronger By Running More Coaching Sessions
The best way to grow your business is by getting stronger clients. Stronger clients are clients who are ready to buy your most expensive coaching programs. Getting stronger clients also means getting more clients, period. To get more clients, you need to run more coaching sessions. The easiest way to get more clients is to run more coaching sessions. And the easiest way to run more coaching sessions is by increasing your availability. You do this by making sure you’re not taking on too much coaching work at any given time. Only then can you run more coaching sessions and get stronger clients. Stronger clients will increase your confidence as an individual coach and make you more attractive to prospective joint venture partners. Stronger clients will also give you permission to charge more for your coaching services. And when you charge more, you’ll be able to grow your business faster.
Conclusion
Stronger clients and higher prices will allow you to grow your coaching business faster than ever before. Once you’ve built your coaching business to this level, you’ll be in a position to take your career to the next level. You’ll be able to take more time off for vacation and pursue other goals. You’ll also be able to hire other coaches, who can help you grow your business even faster. A business coaching company is a great opportunity to earn more money and make a meaningful impact. But to grow your business, you need to change your mindset, create a deliberate plan, and use digital marketing to reach more clients. By getting stronger by running more coaching sessions, you can grow your business faster than ever before.