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Part 4 of a four part series by Michele Schubnel

The Four Biggest Mistakes Coaches Make . . . and how to avoid them!


PART FOUR - Lack of Support

Business Mistake #4: Lack of Support

The majority of professional coaches start off as sole proprietors. Like all small business owners, we are attracted to the idea of running the show and being in control of our time and income.

But, as I'm sure you are aware, managing a successful coaching business requires a lot more than simply coaching clients. There are a multitude of sales, marketing, business, administration, operational and financial tasks that need to be handled.

As a new coach just starting out, it is understandable that you need to watch your budget and manage as much as you can yourself. However, as your business evolves, it becomes virtually impossible to handle everything yourself.

In addition, most coaches work from home. At first it is incredibly appealing. You've got a 20 second commute to your home office, you can take breaks whenever you want and you avoid the eagle eye of that old boss you are so happy to no longer have.

Unfortunately, the downside of working from home is isolation. The fact is, without good support, your business will not thrive.

Here are the 8 main areas where successful coaches get the support they need to achieve the business success they desire.
  1. Administrative Support: Virtually every successful coach I know enlists the support of an in-person or virtual assistant to handle the administrative tasks that they can't or don't want to handle. For example, your assistant can bill your clients, manage your newsletter, schedule appointments, set up speaking engagements, update your website and edit your writing. Almost anything that you are willing to delegate, a good assistant can handle.
  2. Website/Internet Marketing Support: There is nothing wrong with creating your first business website yourself. In fact, there are a lot of template driven website tools that make it easy to get online quickly and easily. But, as your business grows, you will likely want to expand your site and really leverage the power of the internet. Hiring a professional or working with a company who understands all the ins-and-outs of shopping carts, autoresponders, blogs, newsletters, search engine optimization and more is probably one of the best investments you can make in your business.
  3. Billing/Bookkeeping Support: When you are just starting out, it is relatively easy to send out invoices and collect checks from a handful of clients. However, as your practice grows, billing can become downright overwhelming if you don't have a good system in place. That's why having the ability to accept credit/debit card payments from clients is key. (Check out www.paypal.com or www.practicepaysolutions.com for more information.) In addition, most coaches don't do a good job of managing their own bookkeeping. Using an assistant or bookkeeper frees up your time to focus on the critical activities in your business that only you can do (ie: active marketing and coaching clients).
  4. Marketing/Design Tasks: Unless you have a background in graphic design, your marketing materials will look homegrown and amateur without the support of a professional. The next time you want to create a brochure, flyer or other type of marketing material consider hiring a professional. It is probably not as expensive as you think! Check out www.elance.com or www.craigslist.com for resources.
  5. Strategic Alliances: A strategic alliance is forming a partnership with someone in a non-competing field who serves the same target market as you do. In an effective strategic alliance you create a win-win situation where your services are introduced to your strategic alliance's client base. Here are some examples of powerful strategic alliances:
    • executive coach -> recruiter
    • life transition coach -> divorce attorney
    • business coach -> accountant
    • wellness coach -> chiropractor
  6. Joint Ventures: Avoid the isolation and procrastination that is prevalent in our field by engaging in joint ventures with other coaches and other service-based professionals. Unlike forming a business partnership, joint ventures are typically focused on a specific event or activity. For example:
    1. Partner with other like-minded coaches to have a booth at a conference or exhibition.
    2. Host a workshop or event with other professionals who serve the same target market as you do. For example, if you are a business coach, you could do an event with an accountant, a website developer and a business attorney.
  7. Business Development Support: Most coaches have enrolled in some type of coach training program. Far too few coaches also invest in sales, marketing and business development. These skills are critical for building a thriving, rewarding and profitable coaching business. Commit to ongoing development and significantly increase your chances of success.
  8. Get Coached: It amazes me how many professional coaches don't have their own coach. If you are not currently working with a coach, do you realize how much that is impacting your success? Ultimately, the message you are sending to the Universe is that you don't see the value of coaching. Hire a great coach and watch your business blossom.
Action Items::
  1. Of the 8 areas above, what are the top 2 areas you most need support? What are you willing to do to get it?
  2. If you are concerned about the financial investment, identify the results you would need to generate in order to feel good about the investment and then use that metric for your decision-making.


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

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