Most coaches want to do more of what they love to do – coach! That can mean going from 5-10 clients, building a full practice of 25 clients or shifting from all one-on-one clients to both group coaching programs and individual work. Regardless of where you find yourself in this equation, coaching more clients means building a viable business so you can attract those new clients, and take care of them so they stay with you and invite others as well!
Building a viable business means putting in place a myriad of systems and processes to run the business and handle your clients and attract new clients. If you are a Solopreneur Coach, then you need to create all of these systems and processes yourself. This often feels like a daunting task…AND it does not have to be!
Top 6 Tasks to Building a Business
Would you open a retail shop without a store and inventory to sell and a way to handle money and customers? Imagine if you had a retail shop instead of a coaching practice to build. Actually, it isn’t all that different.
- Find a place for people to come and discover your wares, a place for them to interact with you. In your coaching practice, the place to find you and interact with you may be your web site.
- Decide what it is you will specialize in selling, women’s clothes, dresses, or men’s ware? In your coaching practice this would be your ideal client (female small business owners, etc.).
- Buy inventory to sell (your coaching skills are the services you sell).
- Create processes to manage all of the money. This could be done through a bank account and merchant account combination and perhaps a bookkeeper or VA.
- Communicate with your customers and prospects to keep them informed of the ways they could work with you and buy your services, perhaps a newsletter, or other vehicle.
- Create a consistent marketing and sales plan to keep inviting people to come to your store or practice.
You can see that a coaching practice is not so different from a retail store. Yet many coaches start out without the necessary business building processes in place and then wonder why they have few if any paying clients. Would you buy a quality business suit out of the back of someone’s car? I would guess you would NOT! Many coaches hover at one or two clients and end up leaving the profession due to lack of paying clients. Coaching more clients begins with creating a professional business into which you can invite them.
The processes necessary to create a thriving coaching practice are very similar to a retail shop but we have the ability to run our practice virtually. The great news is that the virtual aspect of a coaching practice gives us the ability to keep our overhead to a bare minimum saving thousands of dollars in rent and employees so we can KEEP more of our earned money!
How do you create systems to run a thriving business?
There are numerous ways to put together a coaching business. You can take pieces from many places, Excel spread sheets and a combination of software products and put them all together to create your systems and processes. As mentioned, this can feel daunting…we constantly ask, “which is the most reasonable, best value and will the pieces work together?” A coach’s overhead and processes can cost from a few hundred dollars a month to thousands depending upon the systems and expenditures they create. You can spend a year just trying to figure it all out. Or you can go the easy and inexpensive route to a professional coaching practice: The Coaches Console. Click this link for more information about this system: www.coachesconsole.com.