Are you interested in becoming a coach? Have you always asked yourself how do coaches make money? There are tonnes of resources out there teaching you how to start your online coaching business, but how many of them actually talk about the mistakes that you should avoid making when starting your online coaching business?
So, that's what we're doing today -- let's look at some of the top 5 mistakes you should avoid when starting your online coaching business. This list was curated by our team of coaches that have been in the industry for over 10 years, let our mistakes be your lessons.
Mistake 1: Not Putting in The Work
Just because your business is now online, doesn't mean that it's not going to take off immediately and everyone is going to be able to see it. Being able to put together a website doesn't just take time and effort from a technical standpoint but you also need to know a few things before jumping in:
- What is your coaching niche?
- What makes you unique?
- What are your fundamental values in coaching?
- What makes you a better coach?
- What are your non-negotiable values?
- How do you set up your coaching sessions?
- What is your price point for your coaching sessions?
- Who do you want to coach?
All these questions need answers and if you don't have them -- you have an unfinished product. This is why I strongly suggest you take the time to truly understand what it is you are trying to sell as a coach and grow from there. Understand that work is going to be needed and a lot of it is going to be extremely hard work. But, as a coach myself, I can very easily say that it's extremely fulfilling.
Mistake 2: Not Getting Certified
Yes, you can become a coach without getting certified but ICF has done multiple surveys and over 70% of people prefer to be coached by someone who is certified. Certification gets you much further because people trust you more now. They know that you were willing to put in the effort and the time to become a certified coach.
They also know that it isn't cheap to become a coach. This just shows potential clients your dedication and they will be able to trust you a lot more.
Mistake 3: Spending Too Much Money Setting Up
At the end of the day, knowing what your product is and how you are going to sell your coaching skills is one part of the equation. The other part is sometimes people make the mistake of spending too much money setting all of that up. You don't need an amazing website with 5 funnels and 20 drip emails.
All you need is a simple website that showcases yourself, your story, the types of coaching sessions available, and your contact details. There's no need to go crazy at the start.
Mistake 4: Not Managing Money Properly
Starting a business cost money, there is no way around it. But, we would also suggest always have a set budget that you are willing to spend to ensure that you know what your limits are. Sometimes people spend way too much money on something that they don't need and then they realize that they could have spent that money doing something completely different instead.
Mistake 5: Not Having A Good Support System
Running a business isn't easy -- especially when it's something new like coaching. A lot of people are learning from scratch when it comes to the world of coaching. And sometimes they trust the wrong people and with that causes a lot of issues. Because bad advice can cause you to stray from what is truly important. So, always focus on finding the right mentors for you as well.
There you have it! Our top 5 mistakes that you should avoid when starting your own coaching business. If you are looking to get certified, please check out our program page to learn more about our next intakes. We can't wait to see you.