Why Some Coaches are Succeeding While Many Others Struggle

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Maura on beach in HawaiiWith 2 weeks left in 2014, lots of business owners are in planning mode. Most of my client sessions have been around strategic planning, looking at what went right (and not so much) in 2014 and identifying/creating new systems to support a more leveraged and optimized business in the coming year. Fun stuff. Truly. . .this is the stuff I absolutely adore.  Identifying opportunities and creating action plans to bring them to life. In a recent client session, we got on the subject of the coaching industry, why I’m not a coach and how/why many coaches are struggling to break the $50,000 ceiling, let alone achieve their aspirations of higher revenue. Coaches who are succeeding (using their personal definition of success, not some arbitrary guide) are branching out from the industry norms. They’re not:

  • Serving other coaches exclusively — you know, take a class/hire a coach, learn, and then teach the same thing they just learned to other coaches.  All the while calling themselves “experts”.  Those who succeed discover their gift and how to market it without being a dime a dozen replica of someone/something else.
  • Following outdated modes of attracting clients — you’ve seen it, hold an event with free or super-low-priced tickets and sell people into a 5-figure Mastermind program.  After all, as long as there are “butts in seats”, right?  Wrong!  Build relationships, create a community.
  • Talking about making an impact and a difference in one conversation and griping about how there’s not enough time in another.  They’re busy doing the things to make those impacts and the primary way this happens?  They delegate and have created systems to support their activities.
  • Out of alignment.  They’re not talking about working part-time and expecting full-time revenue without the appropriate foundation and systems in place.  Instead, they’re maximizing the hours they choose to work (yep, putting more delegation and systems into place) and aligning their revenue/profit goals with the tasks/projects they’re focused on.
  • Launch/Program Announcement-Focused.  They don’t have tunnel vision always wondering what to offer next.  There’s a process, for some highly detailed, for others a simple outline and they provide content (in a myriad of formats) to support and prepare their communities for what’s coming next.

Coaches, and other business owners, who want success prepare for it.  They make the time to do the things that matter. In reviewing your business, take an objective look at the results:

  • revenue and profits
  • time off
  • client turnover rate/retention
  • achievement of your goals
  • and anything else that’s important to your life & business,

Are you happy with the majority of what you discover?  If so, AWESOME! What do you want/need to do to continue/increase the trend? Are you unhappy with the majority of what you discover?  If so, Okay, the past is the past and we can learn from it.  What will you do differently?