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Joanna Lott Coaching

5 Key Lessons for Building a Successful Coaching Business from Scratch

business coach being successful, at work

5 Key Lessons for Building a Successful Coaching Business from Scratch

Table of Contents:

  1. Lesson 1: Get Clear on Your Niche and Ideal Client
  2. Lesson 2: Learn to Become Comfortable with Being Visible
  3. Lesson 3: Focus on Delivering Great Results
  4. Lesson 4: Don’t Undervalue Yourself
  5. Lesson 5: Find Your Community

 

Introduction

Building a successful coaching business from scratch is no easy feat.

It requires a combination of strategic planning, consistent effort, and a unwavering commitment to personal growth and development. Over the past five years, since I left my HR role and embarked on my coaching journey, I have learned invaluable lessons that have shaped my approach to business growth and success.

Here, I share five key insights that can help you, wherever you’re at on your journey of building a successful coaching business, to take your business to new heights.

Lesson 1: Get Clear on Your Niche and Ideal Client

One of the most common mistakes new coaches make is trying to be a generalist and work with anyone. While this approach may seem appealing initially, it can make it challenging to build a long-term, sustainable business.

I can’t over-estimate the importance of clearly defining your niche and ideal client. This level of specificity not only allows you to charge appropriate rates for your services, but also enables you to develop a deep understanding of your target market’s unique challenges and craft tailored solutions. to meet those needs.

For example, instead of simply targeting ‘coaches’, I suggest that you niche down further to something like ‘coaches already earning £10K per month and wanting to earn more’.

The more specialised and focused your services are, the easier it becomes to stand out, connect with your ideal clients, and deliver outstanding results, all of which will lead to you building a successful coaching business.

Lesson 2: Learn to Become Comfortable with Being Visible

Visibility is crucial for the success of any coaching business. However, this doesn’t necessarily mean you have to be active on social media if that’s an area you’re really not comfortable with. I encourage you to explore various platforms and strategies, to find the ones that resonate with you, that you’re willing to consistently show up for.

The key is committing to your business and understanding that a half-baked approach is unlikely to yield sustainable results.

Of course, you need to make a decent income, but it is also really important to have a clear mission that drives your efforts and provides a sense of purpose.

Lesson 3: Focus on Delivering Great Results

At the end of the day, building a profitable and sustainable coaching business will be determined by the results you deliver and the testimonials and case studies you build up. It’s crucial that you continuously reflect on how you can improve your offerings and provide better support to your clients.

As your business grows, you may need to implement systems and processes to manage client interactions and track progress effectively.

Also, I encourage all coaches to experiment and find your unique style, as there is no one-size-fits-all approach to coaching.

Lesson 4: Don’t Undervalue Yourself

Many coaches, especially those just starting out, tend to undercharge for their services. Make sure that you conduct thorough research to understand the market rates for successful coaches in your niche.

While it may be tempting to offer lower prices in the hopes of attracting more clients, this can actually undermine your perceived value and make it challenging to build a sustainable and successful coaching business.

I gradually increased my prices as I gained more experience, case studies, and credibility in the market. I encourage you to continuously challenge any limiting beliefs you might have around your worth, and to raise your rates as you grow your expertise and confidence.

Lesson 5: Find Your Community

Building a successful coaching business can be a lonely journey, which is why I feel passionate about the importance of finding a supportive community. Surrounding yourself with like-minded individuals who understand the challenges and celebrate your wins can provide invaluable inspiration, accountability, and motivation.

Seek out communities where the results you aspire to are normalised, as this can help shift your mindset and propel you forward.

And be careful to avoid surrounding yourself with pessimistic or complaining individuals, as this can have a really negative impact, quickly becoming a contagious mindset and hindering your progress.

Key Benefits of Joining my Business of Coaching Programme

If you’re looking for a supportive community, comprehensive training, and personalised guidance to help build your successful coaching business, my Business of Coaching programme gives you many benefits, including:

  1. Access to a vibrant community of like-minded coaches
  2. Comprehensive training on various aspects of building and growing a coaching business
  3. Ongoing support and accountability to help you stay on track
  4. Personalised feedback and guidance tailored to your unique goals and challenges
  5. Opportunities to learn from my extensive experience and expertise
  6. A nurturing and uplifting environment that celebrates your wins and helps you overcome obstacles

Conclusion

Building a successful coaching business from scratch requires a combination of strategic planning, consistent effort, and a growth mindset. By following my five key lessons – defining your niche, embracing visibility, delivering outstanding results, valuing your worth, and cultivating a supportive community – you can lay a solid foundation for long-term success. Remember, success is a journey and, with unwavering faith in yourself and a willingness to take consistent action, you can achieve your goals and make a meaningful impact through your coaching business.

 

Prefer Audio? You can also listen to all my new content on my podcast Women in the Coaching Arena

Whenever you’re ready, here’s how I can help you grow your coaching business:

  1. Love coaching, but struggling to get clients? Download the 12 Quick and Easy Ways to Get Clients now.
  1. Interested to know more about the Business of Coaching programme? Click here.

 

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Hello and welcome! I’m Joanna Lott, and I’m passionate about empowering qualified coaches like you to build brilliant businesses.