If you’re reading this article, you’re likely on your way to launching your coaching business. But with all the information on the web, it’s challenging to figure out how to implement your idea and where to start. We’ve prepared a comprehensive step-by-step guide for you to learn how to start a coaching business that will be successful and profitable. Read on.
Step 1. Establish your niche
Defining your niche is the starting point when launching your coaching business. By choosing your niche — your area of focus as a coach — you’ll be able to:
- Find your ideal clients
- Avoid spreading yourself too thin
- Market yourself more easily
If you choose a narrow niche, your target audience will be relatively small, making it easier for you to be laser-focused in your marketing efforts. Marketing general-purpose coaching services can be a vain endeavour. As a coach, you’re selling a future outcome to your clients. That means you need to show them you understand their top-of-mind problem and can provide the best solution. Doing so will motivate potential clients to invest in your solution, i.e. to pay for your services.
To get clients and retain them, you need to solve your clients’ specific problems. Over time, you’ll be able to expand the range of services you provide and, consequently, your client base. With the first step complete, the remaining steps will fall into place neatly and easily.
Read our blog post on niching down as a coach to learn more about choosing a niche and get a list of top 12 most profitable coaching niches in 2022 and beyond.
Step 2. Visualize your target client
Once you determine your niche, you need to home in on your target client. It’s extremely important to develop an ideal customer profile (ICP), which is a buyer profile that describes the perfect client for whom you provide services. By having a well-established ICP, you’ll be able to:
- Save time and money. You won't waste your time and money on leads that don't convert and bring you no profit.
- Improve the client experience. When you make your clients happy, they’ll gladly share their positive experiences with friends and bring you more referrals.
- Reduce client churn. By attracting the right audience and providing exactly what they need, you’ll be able to prevent clients from churning.
- Improve communication with your target clients. With an ICP, you’ll be able to better deliver your offer and give clients a clear understanding of how you’ll alleviate their risks and fears with your solution.
Here’s an example of the parameters you may need to consider in your ICP. If there are parameters you don’t need for your ideal client profile or if something’s missing, feel free to make changes:
- Industry — where your ideal client works
- Geography — where they’re located
- Company size — how big their company is
- Income — how much they make per month
- Pain points — what problems they face and what they struggle with
- Decision-making factors — what influences their decision-making process
- Objectives — what they strive for
- Values — what is particularly important to them
- Challenges — what hinders them from achieving their goals
- Objections — what can prevent them from buying from you
You can download the template below and create your ideal customer profile. You can either print out a PDF file or edit it using an online PDF editor.
To learn more about how to develop and apply an ideal coaching client profile for your business, read our step-by-step guide to creating your ideal coaching client profile.
Step 3. Choose a coaching model
You should decide on what coaching model you prefer. This will be the foundation for all of your future business decisions, so it’s important that you get it right. You can choose between the following options:
One-on-one coaching is a model where you trade a coaching session for money. Basically, that means you’re trading your time. This coaching model is typically seen as a high-end service. However, private coaching requires more individual attention and more of your time and is therefore less scalable than group coaching, for example. Also, one-on-one coaching may be inappropriate for clients who thrive in groups, e.g. for extroverts.
Group coaching is slightly less time-consuming than private coaching and is more scalable because it’s a one-to-many model, meaning you’re helping multiple clients at once. When done right, group coaching allows you to spend less time and make more money without burning out. You can offer coaching in three different formats. Choose what works best for your clients:
- Long-term coaching is when you provide a series of sessions for a group of people.
- Intensive coaching is when you offer a one-two-/three-day coaching workshop for a group of clients.
- A short workshop usually addresses a specific topic your target audience is interested in. You can run a workshop for a topic that can be covered in an hour or two versus a four-week course.
Group coaching is a good choice if you enjoy working on a larger scale and if your clients feel comfortable with it.
Corporate coaching implies working with company staff, and in most situations, the company will pay you a lump sum for coaching all employees who fall under their corporate umbrella.
This normally includes two different coaching models, e.g. a course and online coaching. One-on-one coaching can also be included for troubleshooting, support, or check-ins. A hybrid model allows coaches to successfully work with multiple clients at a time without sacrificing quality.
Step 4. Find your unique selling proposition (USP)
Your USP is what makes you stand out when compared to your competitors in your niche and lets you define the value of your services. A memorable and powerful USP allows your prospects to understand what you’re offering and why they should choose you rather than your competition.
A USP is about showing your potential clients an immediately recognizable benefit by emphasizing the uniqueness of your offer. That’s why it’s important to develop your ideal customer profile. Your potential client should fully identify with your offer.
To come up with a unique selling proposition, follow these five simple steps:
- Define your target client. This is a critical step when creating your USP. You should know who you’re targeting, so be as specific as possible. You want your unique selling proposition to speak directly to your target client.
- Analyze your competition. To do this, visit competitors’ websites and study competitors’ profiles on social media (Facebook, LinkedIn, etc.). Pay attention to the style and the language used for statements, review customer feedback to see what’s praised and what’s criticized, and analyze whether your competitors’ USPs offer a clear benefit that’s visible at first glance.
- Summarize the benefits you can provide. List three to five benefits your prospects can get from choosing your services. It’s important that you focus on why these benefits are important for your clients rather than on enumerating your skills, experience, strengths, or credentials.
- Define the value of the results you help achieve. Your target clients expect a real result from working with you. They want to know how big the result can be and how fast they can get it.
- Make it concise and memorable. It’s widely accepted that you have only three seconds to grab attention online. Make sure your USP is both short enough to be perceived quickly and concise enough to immediately communicate what you offer.
Below, you can find some examples of great coaching USPs.
To learn more about developing a USP, read our 7-step guide to creating a winning unique selling proposition for coaches.
Step 5. Make it legal
As a coach, you’re going to provide paid services to your clients and consequently pay taxes. That means you need a legal structure for your online coaching business. You’ll definitely need to consult with a lawyer to get step-by-step instructions. However, here’s a general look at what you should do.
Claim your business name
For those who wonder how to start a coaching business from scratch it’s important to pay attention to naming. Basically, your clients are buying a relationship with you as a coach, unless you’re planning to start a coaching company. So the best solution is to use your name for your coaching business. This will form a strong association with your coaching services and build brand awareness.
Besides, using your name allows you to change the type of coaching services you offer or add new services without needing to develop a new brand identity.
Another important benefit of selling coaching services under your name is that it will be simpler to purchase a domain for your website. And if you’re going to scale your business and start a coaching company, you won’t need to completely change your business name. You can simply change “Peter Smith” to “Peter Smith & Co,” for example.
If you’re not willing for your business name to incorporate your real name, think of a name that communicates the solution you offer to the problems your ideal clients are seeking to solve. Here are some good examples below.
If you find it difficult to create a unique and memorable business name that reflects your services, you can use an online business name generator like Namelix for inspiration.
Register with your state
Once you’ve come up with your business name, register it with your state. To do this, go to your state government’s website and file as an official business. The process is easy and won’t take lots of time. At this point, you need to decide what business structure to choose — a sole proprietorship, a Limited Liability Company (LLC), etc. There’s no right or wrong choice. Consult with a tax specialist to choose the option you feel most comfortable with.
Visit the U.S. Small Business Administration website to learn more about registering your business.
File for a federal tax ID number
Once you’ve registered your business with your state government, you’ll need to file for a federal tax ID number (otherwise known as an EIN, or an employer identification number). You’ll need an EIN for filing taxes and opening your business banking accounts. You can easily and quickly apply for an EIN online by visiting the Internal Revenue Service (IRS) website.
Open a business bank account
We highly recommend that you open a business bank account to keep your business expenses separate from your personal expenses. This will also help you keep track of your business expenses, assess your business results, and get prepared for tax time.
Step 6. Define how to work — from an office or from home
In the era of massive COVID-19 lockdowns worldwide, providing your coaching services online is beneficial, as you can reach a wide audience and provide convenience for you and your clients. The question is whether to work from home or from an office. Working from the comfort of your own home sounds lucrative. However, some people feel more comfortable working from an office.
Whether you decide to invest in a physical office will depend on your budget and preferences. Coaching from an office can make you more productive by giving you the right ambience. Besides, it can add a professional appearance to your services. Also, working from an office can be a good choice for coaches with large families with kids, as it affords fewer distractions than working from home.
Another significant aspect you need to consider is commuting. According to the US Census Bureau, the average American worker’s one-way commute time is 26.9 minutes. That’s almost five hours a week spent on commuting that translates into lost opportunities to increase your revenue. You can save a lot of time by choosing telecommuting. From this perspective, working from home is a better option, as you can save time and eliminate travel costs.
By working from home, you also save on office rent and office maintenance fees.
Step 7. Set your prices
Setting prices for your coaching practice is a touchy issue. There are several key pricing strategies. By deploying the right one, you can build a robust coaching business. Let’s dive into each strategy.
Billing your clients by the hour is the simplest strategy. This approach makes sense when you have no clear idea how long your engagement with a client may take. You might assume you’ll need 20 hours, but it actually takes 50. So to avoid incorrect calculations, it’s better to charge by the hour. Besides, such a strategy is simple for your clients, as they agree to a particular hourly rate (say $100 an hour).
The more experienced you are and the narrower your niche, the higher the rate you can charge. However, hourly billing has significant drawbacks. Clients can feel entitled to ask why your engagement took three hours instead of one. Besides, they will typically hesitate to pay high hourly rates.
Once you’ve built trusting relationships with your clients, you can charge a monthly retainer. In this case, clients pay you a flat rate in advance either as a recurring monthly payment or as a lump sum. With a retainer, you’re billing your clients either for a number of hours or for access to your expertise.
An undeniable benefit of this pricing strategy for you as a coach is that you can create a consistent and predictable revenue stream.
Retainer agreements are also beneficial for your clients, as they guarantee your services will be available to them for a predetermined amount of time. There are two models for coaching retainers — pay for work and pay for access.
- The pay for work model is when you provide ongoing coaching to your clients and get paid for it. In other words, you’re doing work for a client on a monthly basis and this is what you’re getting paid an agreed amount for. If you’re going to use this model, you should explain to your clients how it works in detail. Be ready to answer common questions like What will we be doing month to month?” How will I benefit from it? and What’s the value you’re creating as a result of our work? The more precise your answers, the more likely your clients will be to accept the model.
- The pay for access model is when you’re not paid for specific deliverables. Clients rather pay for being able to access your knowledge, expertise, and experience. This strategy works best when you have an established and trusting relationship with your client. Once they’ve seen the results and the value you can bring, they want to be able to receive your support and assistance right away without getting in line. By setting up a retainer, they ensure they can give you a quick call or send you a message or an email to tackle a critical issue and you’ll respond to them as quickly as possible.
Value-based pricing is a strategy popularized by Alan Weiss, an American consultant, speaker, and author. The concept lies in understanding and agreeing upon the value of your engagement with a client. This strategy puts the focus on the client. Prices are determined based on how much value a client places on a service.
Value-based pricing encourages you to enhance the quality of your coaching services to match the value you create. That’s a win for both you and your clients. Value-based pricing offers a number of benefits:
- Higher profits. With value-based pricing, you can charge the highest possible starting price. As time goes on and as you have a better sense of what your clients value, you can raise your prices to maximize your profit. With value-based pricing, you can earn more by delivering a solution that is greatly valued by your clients, who are willing to pay extra for your premium service.
- More value for clients. A client-centered approach leads to a better solution with great value, thus improving client loyalty.
- Differentiation from the competition. The value-based pricing strategy creates a powerful differentiation in the market, preventing your services from becoming commodities.
Follow these steps when building your strategy:
- Analyze your target audience to understand their needs, how your service can affect their lives, and what they’re willing to pay for your solution.
- Research your competition thoroughly to analyze the next best alternatives on the market and define what makes your service different.
- Define the value of your differentiation to assign a price that reflects how much your service is worth.
- Craft a pricing campaign that aligns with your target clients’ needs.
The key takeaway is that value-based pricing starts with the client, their needs and expectations, and how they perceive the value of the solution you offer. It doesn’t start with the service.
A productized service is a ready-made packaged solution designed to solve a client’s very specific problem or need. To better understand what a productized service looks like, let’s draw an analogy with a box of biscuits you can find on a supermarket shelf.
|Box of biscuits||Productized service|
|Front of the box||Picture and name of the product that’s inside||Image of the end result and the name of the service|
|Back of the box||List of ingredients||List of tools necessary to achieve the desired outcome and expectations/instructions for each phase|
|Left side||Nutritional value||Additional value and benefits|
|Right side||Product information||Service provider information, client testimonials, etc.|
Productizing your coaching services allows your clients to understand what exactly they’re committing to and what results they can expect. It helps them decide whether to experience your services or put the box back on the shelf.
By productizing your services, you can go beyond spending hours writing proposals and negotiating with potential clients. Instead, you can create flat-rate fixed-scope service packages. You can sell your productized coaching services via landing pages.
This approach is beneficial not only to you but also to your clients. Here’s how.
|From a service provider’s perspective, a productized service runs systematically, allowing you to increase sales by simplifying the customer journey.||From a client’s perspective, a productized service is a standard solution solving a specific problem, with a compelling offer, at a set scope and price.|
Here are some examples of productized coaching services.
- Copyhackers coaches content writers to enhance their copywriting skills and improve conversion techniques through tutorials and courses.
- Boss as a Service helps you achieve your goals, ensuring you get your work accomplished and meet deadlines.
- Yoast has developed a training course that teaches clients how to do keyword research by themselves.
It’s a common misconception that packaged services are the same as productized services. They do have some similarities, but they’re not the same thing. When you package your services, you emphasize a list of things you can do. In other words, you list the deliverables you can offer your client. When you productize your services, you emphasize the outcome you’re helping your client achieve.
Packaged services are much easier for you to explain and make it easier for the client to immediately see what’s available and choose the best option based on their needs and budget.
What to consider when setting prices for your coaching services
In order to price your coaching services so you achieve financial freedom and have time to live a comfortable life, you need to consider the following.
The value of the outcome
The first thing you should look at is the value of the outcome you’re helping your clients achieve. It’s important that you don’t determine the price based solely on how much time you devote to your client’s problem and how much stuff you provide them with (e.g. workbooks, checklists, videos).
Your service doesn’t have to have a direct monetary value. For example, if you’re a wellness coach, you might help people get healthier and save on medical bills; as a career coach, you might help your clients get better jobs and advance in their careers; as a life coach, you might help people become happier and live better. Such results are, in essence, priceless.
A common problem especially for beginner coaches is that they feel guilty setting high prices for their services. However, you should clearly understand that the value you create for your clients is significant and meaningful to them.
Length of commitment
The next aspect you should consider is the length of time you’re committed to working together. From this perspective, you definitely shouldn’t charge for hourly sessions. Instead, you should create coaching packages. These packages should be for a minimum length of time, such as a minimum two-month package for $3,000. When your client signs up for four months, you can charge less in exchange for the long-term commitment.
Charging higher prices
Setting higher prices for your services may sound counterintuitive, especially if you’re a beginner coach. However, there are several reasons why this tactic is better for both you and your clients.
First of all, your clients are going to be more committed if they make a bigger investment in your coaching services. As a coach, you know that you’re pushing your clients to go through some changes in their personal or business lives, and this process isn’t easy.
With lower priced packages, your services won’t matter as much to your clients, and they can dismiss them more easily if it gets hard. In other words, by paying more for your coaching services, your clients will have higher expectations as to their outcomes and will value your services more.
Your financial expectations
When setting your prices, you should clearly understand what income goals you want to hit to run a profitable and sustainable coaching business. If your minimum package is a two-month package for $3,000 and you need $12,000 a month to support your business and your life, then you know you need four clients each month.
By making sure your pricing hits all four above-mentioned aspects, you’ll be able to run a successful coaching business.
Step 8. Choose the right equipment and software
One of the core steps when starting your online coaching business is choosing the right hardware and software to make your work easier and more efficient.
If you’re going to provide coaching services online, you need the proper technology stack. The basic things you will need are:
- An internet-enabled device. This may be a desktop or a laptop. For some purposes (e.g. tackling critical issues via messaging or running a quick video call), you can also use a tablet or smartphone. Choose what suits you best based on the type of session, the number of participants, and the content that should be presented and shared during the video meeting.
- A camera. Eye contact is crucial when it comes to virtual communication. So ensure you have a quality camera to bring a personal touch to your coaching sessions. If you use a device that doesn’t feature a built-in camera or if you’re unsatisfied with the video quality, you may need to get a standalone webcam.
- Headphones/headset. Choose between headphones and a headset based on what’s more convenient and comfortable to you and whether you have a built-in mic in your chosen device.
- Microphone and speaker. The device you use may be equipped with an internal mic, or your camera or headset can have a built-in microphone. However, you may want to have a standalone microphone. Opt for whatever is more convenient for you, but remember that a headset will be a better option than a standalone microphone as it will remain in the same position regardless of your head movements.
Another issue you need to consider is a proper internet connection. You want a stable, fast connection to ensure your coaching sessions run smoothly. A poor internet connection will spoil the overall impression. There are a number of ways to prevent connection problems:
- Disable internet-connected devices and software you aren’t going to use during the session to lessen the load on your network.
- Have an alternative internet provider you can switch to in case technical issues arise.
- Connect your device via an Ethernet cable (if possible) instead of connecting via Wi-Fi.
To ensure your online coaching business runs smoothly, you need proper tech tools. However, choosing the right tools can be challenging. You’re likely to be overwhelmed with all the different software options available on the market, and you may not understand what you really need and what you don’t. That’s why we’ve compiled a list of software tools you can use for various purposes to help you run and grow your coaching business without a hassle.
You also need to keep in mind that the right tools will help you provide a seamless client experience. Without proper software, you’ll find yourself working on administrative tasks rather than working with your clients and growing your business.
Scheduling and booking
By setting your appointment calendar, you give your clients access to your available time slots and avoid the mess of back-and-forth communication trying to coordinate appointments. Clients can book dates and times that are convenient for them without needing to reach you within business hours. You just need to keep your calendar up to date.
Since you probably won’t have lots of money coming into your business at the beginning, you’ll want to keep your expenses to a minimum wherever possible. That’s why when choosing a service provider, you should pay attention to those offering free accounts. There are multiple options on the market, the most popular of which are Acuity, Calendly, and SimplyBook.
As a coach, you’ll spend most of your time communicating with clients either one on one or in groups. Video calls allow you to meet your clients face to face and effectively interact remotely. They also help you establish trusting relationships. That’s why reliable meeting software is critical.
The tools available on the market differ in pricing and features. We recommend you opt for those offering a basic set of features:
- One-on-one and group calls to run online coaching sessions with either one or several clients at a time
- Video recording to use recorded meetings as a source of information on agreements reached
- Live chat during a session to allow you and your clients to interact via text
- File sharing to exchange valuable information during or after a session and avoid using third-party services
- Screen sharing to visualize what’s being discussed and allow your clients to better perceive information
- Security to maintain the integrity and security of data and content
There are lots of video meeting tools available — Zoom, Google Meet, GoToMeeting, etc. Choose the one that meets your business needs best in terms of pricing, call size, and necessary features.
When there’s no need or opportunity to set up a video sesion, chats can help. They’re also a nice way to stay in touch before and after a session to give and receive feedback, exchange insights, and provide extra materials. The most popular messengers include Telegram, WhatsApp, and Respond.io.
Customer relationship management system
As your business grows, your client base will also grow. That’s why you’ll need a tool to manage your clients. A customer relationship management (CRM) system simplifies data collection, allows you to manage your communication with clients, and keeps all your clients’ contact information in one place. Among the CRM systems you can choose from are HubSpot, Pipedrive, and Keap.
The next thing you want to set up for your coaching business is a payment gateway to send invoices to your clients and collect payments. When choosing a payment provider, opt for a reliable solution to be sure you get your money quickly — and make sure it accepts international payments if you have clients abroad. Stripe, PayPal, and Square can be good choices.
File sharing system
To effectively collaborate with your clients, you need a file sharing system. We suggest using a cloud-based service to easily share files and documents online. The simplest option is to use Google Drive. Other great options include Dropbox and Amazon Drive.
Ensure you take enough time to test each tool to see what fits your online coaching business best. To make your choice easier, we’ve prepared a list of must-have general-purpose software to help you run your coaching business smoothly.
What about all-in-one solutions?
Managing all the above-mentioned coaching tools can be overwhelming, time-consuming, and expensive. So it would be wise to select an all-in-one software that incorporates all the features we’ve described to reduce administrative tasks, save you time and money, and make your coaching process more efficient. One such option is ExpertBox.
ExpertBox is a platform that enables coaches to provide their services globally, attract more coaching clients, increase productivity, and earn more revenue by automating the whole coaching process, from scheduling sessions to getting paid.
Step 9. Create your online presence
If you’re going to run an online coaching business, you need to build your online presence. Your web presence is significant for attracting new coaching clients. The two places you can most easily make your services visible to your target audience are on your website and on your social media profiles. Let’s talk about both.
Build your website
Potential clients need somewhere to learn about your coaching services. Building your website is one of the most effective ways to get yourself known. To begin with, you can use simple easy-to-use website builders like Wix and save money on hiring a web developer. As your business grows, you can order a customized website to satisfy your business needs.
Three easy steps to set up your website
Setting up your coaching website is not that difficult. Just follow these simple steps.
- To build your website, you need to first purchase a domain name. You can use your own name or a keyword reflecting your offer as your domain name. Try to keep it short and memorable. To check domain name availability and register a domain name, you can use any registrar.
- Choose a hosting provider and get your website hosted so people can access it online.
- Design and develop your website. Think about what pages you need for your website. The standard set includes a homepage, about page, services page, pricing page, contact page, and blog. Think about how you want your website to look. Research your competitors to get inspired and create something unique.
If your budget allows, you can hire a web developer or an agency to do all of this for you.
Once you’ve developed a website, fill it with relevant content. Your coaching website should give your prospects a clear idea of who you are, what you offer, why you offer it, who you offer your services to, and why potential clients should choose you and not your competitors. To gain your prospects’ trust and credibility, we highly recommend having a blog with useful expert content.
You may also want to create a landing page instead of a full website. A landing page is a standalone page designed for marketing and advertising purposes that communicates your offer to your target clients.
Learn about 5 key items your website should contain to convert visitors into coaching clients.
Create a social media profile
People worldwide spend an average of 145 minutes daily on social media. That’s why your social media presence is crucial. Social media platforms like Facebook, LinkedIn, and Twitter offer effective and cheap avenues for attracting coaching clients. Make sure to create professional social media profiles and not mix them with your personal accounts.
Some scheduling software enables you to embed a link to your calendar on your website or social media profile via a live widget for easy scheduling. This will allow clients visiting your website or Facebook or LinkedIn profile to immediately book a coaching session with you and will help you attract more clients and increase your business’s visibility.
For your social media profiles to help your business, ensure your profiles:
- Are visually pleasing
- Look professional
- Are full of relevant and valuable content (both visual and textual)
- Speak the language of your target clients
- Don’t sell your services directly in every single post
Read our comprehensive guide on using social media to promote your coaching business to learn more about how social media can help you gain new clients and improve your revenue.
Step 10. Create your brand and logo
An important aspect to consider when starting a successful coaching business is your branding. A clearly developed and well-strategized brand helps you make an impression, allows you to build trust with your clients, and makes you distinguished and recognized. One of the most important and easily implemented visual elements of your brand identity is a logo.
To develop a strong logo, you don’t necessarily need a designer or a branding agency. To start with, you can use free online logo generators like FreeLogoDesign or Looka. Typically, you’ll need to enter your company name and industry and can then choose a logo generated by the service. You can use a logo generated by one of these services as is, or you can use these services as a source of inspiration to create your own logo design.
If service-generated logos are not enough, you can use 99designs to get multiple logo design options from various designers. Just fill in a brief, create a design contest, and pick your favorite version.
Step 11. Be flexible in your business plan
Even if you have an excellent business plan, it still might need some changes in the process. As you will be testing out different hypotheses, ads, and content aimed at different audiences, you will need to remain flexible and leave yourself some space for mistakes and retrospectives. As a result, you’ll become able to change your strategy after testing it out, ensuring you don’t spend resources on content or advertising that doesn’t work.
Step 12. Collect feedback and improve
As you might have noticed, feedback is one of the most important points of growth for a coaching business. Positive reviews speak for you, helping you gain new clients, as well as providing you with a better understanding of the client’s needs and expectations. Ensure you use every opportunity to engage your clients to leave feedback, and use it to optimize your services, making them a better fit for your audience.
Five mistakes to avoid when starting an online coaching business
To get the results you want from your coaching, in addition to things you should do there are things you shouldn’t do. Some mistakes can hinder your business results and prevent you from moving forward. Let’s see what mistakes you need to avoid to build a profitable and sustainable online coaching business.
#1 Using overly complicated technology
It’s a common misconception that the more complicated the tools you use, the better the results. In fact, it turns out to be the opposite. By delving into really complicated platforms and learning to use them in your daily operations, you lose time you could spend on more meaningful activities. You need simple streamlined systems. The tech side of your business should match your technical skills.
#2 Not setting clear goals
To be truly successful in your coaching business, you need to clearly understand your financial and lifestyle goals. From a financial standpoint, you need to know what you have to bring in every month to keep your business running and growing. The key to success is setting a really solid goal that you can then pursue. Once you know your goals, you can create a business that meets them.
#3 Being too rigid
Being too rigid hinders you from achieving your goals. If you’re being consistent with what you do for a couple of months but it doesn’t work, this is a hint that you need to make some adjustments. Being flexible will allow you to adequately assess your progress and make improvements to accomplish your goals.
#4 Focusing on your appearance vs your relationships
It’s really hard not to compare yourself to other coaches who you think are more successful. But thinking you need to live up to their standards is the wrong approach. The most important thing when starting your online coaching business is establishing relationships with your target audience. Don’t be afraid to get yourself out there, even with imperfect pictures or imperfect branding.
#5 Too many offers
At the beginning, you might think you want to offer a little bit of everything for everybody. In reality, you should create specific offers for specific clients. You need to be clear about who you’re helping and what problems you’re solving to create a laser-focused offer. We highly recommend you choose one main offer for your business when you start.
While your colleagues might wonder how to start a coaching business online, and fear of the unknown, you’re equipped with our ultimate step by step guide, you can launch and grow your online coaching business starting today. Subscribe to our newsletter to learn more about running a profitable coaching business online.
To start a coaching business in 2021, follow these 10 simple steps:
- Establish your niche
- Visualize your client
- Choose a coaching model
- Create your unique selling proposition
- Make it legal
- Decide on working from home/office
- Set prices
- Choose equipment and software
- Create your online presence
- Create your brand and logo