April 30, 2010

Life Coach Business

A Life coach business? Ever thought of embarking on a completely new career and building a life coach business from scratch?
People become coaches for a variety of reasons but most commonly many people enter the life coaching profession having enjoyed the experience of being coached first and then feeling a great motivation to help others in a similar manner.
Life coaching offers a potentially rewarding additional or alternative career to people from all backgrounds.

Being self-employed and running a Life Coach business has its advantages such as being free to choose the hours you work, where you work and how much to charge for your services is a huge motivation for anyone considering going into business.
And there are limited overheads involved – working from home is a big incentive for people who want to enter the coaching profession.

But there are important disciplines you require to learn and apply if you are going to improve your chances of making a commercial success of your business.
Disciplines such as finance and budgeting but importantly –how to market your business. Assuming you have sufficient confidence that you can prosper as a businessman, you still require to meticulously plan for your enterprise by addressing some of the basic business concerns such as:

Who are your ideal clients that are the best fit for my interests and experience and what level of fees shall I charge?

How long and how much investment finance will it require before the business becomes profitable?

Who are the main competition and how do you plan to engage with them?

What is your niche market or competitive advantage or why should your clients choose you?

How do you market your services to the largest numbers of potential clients cost effectively and get your name well known in profession?

What support do you need to master all the business competencies and keep you disciplined when you experience difficult trading conditions?

It is a fact of life that running a life coach business requires selling coaching services and that can be difficult. And unfortunately most of the training courses do not do a good job of equipping potential coaches with the business / marketing skills they need to recruit clients in viable numbers to run a business.
A lot of very good coaches are stuck in the dilemma of providing a service that is highly valued by people that experience it, and yet the coaches themselves struggle to find enough clients.

Pause for a moment and reflect that coaching is a relatively new profession. Most people in the street will not know what it is or does regarding what the benefits of coaching are.
Would you buy something that you didn’t understand? Not likely.
So unless you have unlimited time and a large advertising budget, running ads, sending out announcements, simple networking, then many of the conventional ways of promotion are relatively ineffective.

Here’s an important lesson. Someone receiving a very good coaching experience will sell your coaching for you.
When you are building your Life coach business you will learn that it is ‘word of mouth’ from fulfilled and satisfied clients who will happily recommend your services to other people who may have an interest in the topic but may require assurances.
So the aftercare service of your coaching school fulfils the function of continuous looking after your clients but also serves as a potential recruiting sergeant for the future.

Life coaching is a new and admirable profession that has the power to really help people. And the market for coaching is very large and growing but you can’t succeed in the coaching business by simply being a good coach.
You have to get out there, think creatively about how to market to the highest number of people possible.
Be professional and always look to add genuine value to the clients experience and the client will act as your recruitment foot soldier.
Find the support you need to be great and strive to continue to develop as a coach and your business is likely to accumulate enough good word of mouth publicity to thrive and prosper in the future.

Filed under: Life Coach Business — Tags: — Carl Hewitt @ 8:22 am

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