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Part 1 of a four part series by Michele Schubnel
The Four Biggest Mistakes Coaches Make . . . and how to avoid them!
PART ONE - No Clear Focus Building a successful coaching business is not rocket science. It does however require time, energy, focus and patience. Like all service-based businesses, success comes when you follow tried and true sales, marketing and business success principles. Over the past seven years I have had the opportunity to coach, train and speak to thousands of coaches on the topic of business success. I've personally met with hundreds of coaches, from all sectors of the industry, with every possible background and employing all types of coaching methodologies, philosophies and approaches. What I have discovered is this: There are four huge business mistakes that are prevalent in our profession. In this 4 part series I'll uncover each of these deadly mistakes and provide guidelines on exactly what you need to do to avoid them and put your business on the road to success. Business Mistake #1: No Clear Focus This is the most fatal, frustrating and common of the four mistakes. It occurs when you fail to clearly identify who you coach and what you coach on, and instead try to be all things to all people. Are you making this mistake? Ask yourself these questions:
First, let's look at what you coach on, often called a niche or specialty. This is the "problem" that your coaching can solve or the results that people can achieve. Fact: People don't want coaching. They want solutions to their problems. When you position your coaching as the best solution to their problem(s) they will want to learn more and, assuming you are not making any of the other mistakes, a percentage will hire you. Here are just a few examples of common "problems" that people hire coaches to address:
Here's why: As long as you are in business you will need to find new clients. Marketing is an ongoing process. It requires an investment of time, money and energy. You must use your resources wisely in order to maximize the return on your marketing investment. You can't effectively market to everyone. Instead, you need to identify the people who already want, need and are willing to pay for your services and focus your marketing activities to reach those people. Your work experiences: What have you accomplished professionally that you could help others achieve? Your life experiences: What personal challenges or limitations have you overcome that you could support others in addressing? Your talents and skills: What are you really good at? What are your unique gifts? Your passions and interests: What inspires and excites you? What do you spend time reading and learning about? Next, let's identify who you coach. This is also known as your target market. You need at least one primary target market to effectively grow and sustain your coaching business. Here's why: As long as you are in business you will need to find new clients. Marketing is an ongoing process. It requires an investment of time, money and energy. You must use your resources wisely in order to maximize the return on your marketing investment. You can't effectively market to everyone. Instead, you need to identify the people who already want, need and are willing to pay for your services and focus your marketing activities to reach those people. Your target market already wants what your coaching provides. They have the problems your coaching can solve. They are the people who are most likely to hire you. Think about your ideal client, the kind of person you love to coach. Your ideal client is in your target market. Here are a few examples of target markets:
By now you might be thinking, "Won't I be limiting myself if I choose a specific target market and niche?" It's a common concern, but the exact opposite is true. Remember, you can't effectively market to everyone. Instead, when you identify who you coach and what you coach on, you can focus your marketing message and strategies to reach the people most likely to invest in your coaching. Action Item: Make a commitment right now to identify who you coach and what you coach on and start reaching out to those people. It is far better to make a decision, take action, evaluate your results and modify as necessary. Having no clear focus is the business mistake that can literally kill your chance of achieving business success. Don't let this happen to you. About our expert: Michelle Schubnel is a veteran coach, dynamic speaker and sales and marketing expert. A leader in the coaching field, Michelle regularly speaks at industry events and conferences in the U.S. and abroad. She is the President and owner of Coach & Grow R.I.C.H., a premier sales and marketing training company for professional coaches who want to develop a thriving, rewarding and profitable business. Since the year 2001, Michelle and the Coach & Grow R.I.C.H. team have helped thousands of coaches worldwide achieve greater business success. For more guidance on clarifying who you coach and what you coach on, download a free recording of Michelle's popular teleclass "Speak Confidently About Your Coaching and Attract More Clients" at www.coachandgrowrich.com/free/teleclasses. Contact: michelle@coachandgrowrich.com Feedback is welcome at ExpertSeries@choice-online.com Visit choice, the magazine of professional coaching Website
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