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Joanna Lott Coaching

Listen in for a comprehensive step-by-step guide to starting and growing a successful coaching business. Drawing from Jo’s personal journey and experience, she provides practical tips, strategies, and insights to help coaches overcome fears, build confidence, and create a thriving business. Whether you’re just starting out or looking to take your coaching business to the next level, this episode offers invaluable advice and actionable steps to achieve your goals.

Timestamps:

[00:00:00] Introduction

[00:01:00] The Importance of Foundational Steps

[00:02:00] Personal Journey: From Self-Doubt to Confidence

[00:03:00] Daily Practices for Success

[00:06:00] Balancing Time and Effectiveness

[00:07:00] Essential Steps to Start Your Coaching Business

[00:09:00] Marketing and Identifying Your Niche

[00:10:00] Creating Tangible Offers and Growing Your Audience

[00:11:00] Final Tips and Website Setup

[00:12:00] Summary and Caveat

[00:14:00] Special Offer for Jo Lott’s Mentorship Programme

[00:15:00] Closing Remarks and Free Resources

Useful Links

Onboarding and Retention Guide (£7)

How to secure more coaching clients’ free training

Download the 12 ways to get clients now

Learn about The Business of Coaching programme

Connect with Jo on LinkedIn

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If you’re kind enough to leave a review, please do let Jo know so she can say thank you. You can always reach her at: joanna@joannalottcoaching.com

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Transcript
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Hello and welcome to Women in the Coaching Arena podcast. I'm so glad you are here. I'm Jo Lott, a business mentor and ICF accredited coach

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and I help coaches to build brilliant businesses. I know that when you prepare to enter the arena, there is fear, self doubt, comparison, anxiety, uncertainty. You can tend to armor up and protect yourself from vulnerability. In this podcast, I'll be sharing honest, not hype, practical and emotional tools to support you to make the difference that you are here for. Dare greatly. You belong in this arena.

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Hello. welcome to episode 64 of women in the coaching arena. I am so glad you are here. Today, I'm breaking down the big picture and a step-by-step guide to starting and growing a coaching business. This is relevant, whether you already have a business or whether you are starting out. I think underestimating the foundational basic steps is a huge mistake and I revisit these foundational steps every single day.. So I hope this is super helpful for you. Because I have realized that many people train to become a coach, but very few people go on to build a successful coaching business. I find this extremely sad, especially the self-doubt women in particular often feel, but men definitely too. When they start their journey and you see everyone else on social media thinking they have it all sussed and you feel like you are the only one. So, if you are feeling any of that right now, just know that it is not true. And what you see on social media is just the highlights. And usually behind closed doors. It's very, very different. And that's why I love my community because you soon start to feel at home. Because you know that if they are celebrating a win, that that's a big deal for them. It's not like it just happens every day. So in this episode, I will share my personal experience of becoming a coach And initially building an executive and career coaching business. So I left my job in 2019 and trained as an executive coach. It was a hugely rocky journey, I guess, of losing my identity and feeling like I was nothing. you go to a party and you know, you can easily answer that question. What do you do? Whereas when that was all gone, It was a really, really hard time in my life. I also compared a lot, in my coach training, everyone was like head teachers of secondary schools or felt like they were really senior and so much better than me. So there was a lot of comparison and it was an exhausting journey. but my confidence increased rapidly in around a year. So I don't know if that's rapid or not, but somebody wrote to me in 2020 and said, Like your confidence in comparison to where you were in 2019 is astonishing. Can you share, what's made the difference for you. So luckily I have an email to this person. So this is what I wrote in 2020. Morning, affirmations again, something I had never done before. Daily meditation. I did the Deepak Chopra 30 day meditation challenge, I think. And that really helped Tune in to me and stop being so stressed. I had a few good wins in coaching, especially in group coaching and training, which I had a huge limiting belief about thinking that I could never do training. And lo and behold, I can do training and group coaching. And now I do it every single week, fortunately for me, a coach friend of mine Delphine at the time had run a women's workshop. And I said, I would love to do something like that, but, you know, I can't do training and I would never be able to do something like that. So she challenged me to do it. I literally put out the advertisement that day, you know, completely petrified about the entire experience, but it was probably a, life-changing limiting belief busted because it's led me to be able to have my own group coaching program. I know that I can do training. I was regularly caged myself for the first time. So I think I just gained so much more awareness of what was real and what were limiting beliefs, all of those things. I started a nightly gratitude journal, which I'm still doing. And that has Changed my brain so much to constantly be seeking out what I'm grateful for rather than focusing on. I'm not grateful for. I did a short confidence course, which was a great reminder. Our thoughts affect our actions and we can change those with practice. I did the positive intelligence course, which was amazing. They often do free programs for coaches, but I signed up as a pioneer. So I offer that to my clients when they joined my program. I feel like honestly does rewire your brain If you can keep up with the practice. I also did Helen Pritchard's five day LinkedIn challenge, which helped me to actually think about putting out my first post, which at the time just felt impossible. But just shows now I post all the time on LinkedIn and it's like my new home. So how much progress you can make with small actions? I also wanted to share that I only had two days a week when my son was in childcare and I had three jobs as well at the time and a one and a three-year-old, which was obviously pretty exhausting. So if you are making excuses for yourself that you don't have time just know that. The less time you have the more effective sometimes you can be like, I had no choice, but to be super effective. Whereas now I have five days a week, although they are school days, which are ridiculously short. I probably don't get half as much done as I used to do in those two days when I was like superwoman. Nailing everything I needed to do really really well. I do think more time is helpful and certainly if your stress levels but you can start with the limited resources that you have and build from there. So the first step, I would say that it's essential is overcoming the fear. False evidence appearing real is how I like to think of fear. If you haven't read the book mindset by Carol Dweck, I would highly recommend it. That really helped me too see that, yeah, fine I probably was rubbish arts, marketing, speaking, coaching, all the things at the time. But I loved the idea that I gained from that book of the power of yet. I'm not that great at it yet, but I can practice and become better. Before reading this book, I was definitely a that's the way it is type of person with. I'm not good at that. That's all there is to it. there was no gray for me, so it was a really great learning to see that there was loads that I could do and build upon and it's just all skills. Next up your vision, mission and values. Have that powerful vision. I was lucky to go to a workshop at the time when I started my business and I still have it painted on my wall here of the difference that I wanted to make. Just know that you can make a massive difference, even if it is just in your free marketing and you feel like nothing's working. The more value you offer, the more eventually the value will come back to you. So trust in that. Setting financial goals was my next step. I soon saw that it was actually impossible to reach my financial goal, which is what helped me to go into businesses, gain bigger contracts. Do public speaking, do different things as well as coaching, to be able to reach that financial goal. Next up was decides on a business format and set up a business bank account. The difference between a sole trader and limited company, you can Google that. I am not an advisor, I signed up as a sole trader and it worked super well for me because you can do it quickly. You don't have to spend out a lot of money. You don't have to have an expensive accountant. You can literally register on the UK government website. Obviously, if you're in different parts of the world, This may be completely different. But you can register instantly and start trading. That was a really nice, quick, easy way to start, which didn't have me spending money and going down a big rabbit hole, but There are legal reasons where you may want to be a limited company. That's up to you to have a look into what will be most suitable for you. Next up Is set up professional indemnity insurance, I used Hiscox, which was great. At the time it was around 10 pound a month. It is now way more expensive because it does go up depending on how much you're earning. Next up, identify your niche. So I've done lots and lots of episodes on this. I won't go into it extensively here because we have loads of other things to cover. But I have episode 63, which was about niching and episode 14, which was five steps to find a profitable niche. That's probably the most comprehensive one I have on niching. To market your business it's really hard to sell coaching. So you need to create this switch in your mind that you are solving people's problems because people pay to solve problems. So get super clear on who you help and how. Next up is get to know your ideal clients. don't spend too long in a room on your own going round and round this niching circle. Keep listening wherever you go people will always tell you about their problems. Keep listening To that market research to really see if this is something that people are prepared to pay for. Identify your offer comes next. Rather than selling six sessions of coaching, it works really well to create a tangible offer. I do this in my program. I call it my intangible to tangible process. So we take the intangible, which is coaching. And turn it into something that people understand enough to pay for. Next up for me was linked in. So how can you get out there and tell as many people as possible, what you do and growing your audience is the biggest thing I have ever learned. And the most powerful. So ensure that you aren't stagnant, just sharing posts with the same old people. You need to have a way of growing that audience every single month to be able to grow your business every single month. Next up is website and email address. This comes a lot later than most people realize, because in the beginning you have so little clarity about who you're helping and how you're helping them. So it's usually best to do your website. Once you have that clarity. By now you may have some clients. Congratulations. So now it's about having a great onboarding system. I have a onboarding guide you can buy for seven pounds, which I'll link in the show notes. Which covers the full onboarding process so you create a powerful experience for your new client. So, let me summarize today's episode. I know that this was a whistle-stop tour. So firstly overcoming these fears and building your confidence. Next up is your vision, mission and values. Then your financial goals to ensure that what you're aiming for is possible with the services you're providing. Next up is decide on a business format and set up a business bank account. I recommend Starling and Monzo as two great bank accounts. Set up professional indemnity insurance for coaching, training, and education. Next up, identify your niche, then get to know your ideal clients. Create a amazing offer and tell as many people as you can about that offer. Finally create a great website and a great onboarding process and contracts so you build a solid brand and create a great impact on your future clients. I wanted to add a caveat here that there are so many nuances. So I don't want to give you the impression that you can just tick off these things off the list and then become successful. It's a skill that you master just like coaching. So the more you can think about marketing and sales has a skill that is going to take years and hundreds of hours to practice. Just like your coaching has, then you will be successful, but just know that you can't be great when you start, you are going to have to practice. You're going to have to lean into things. You're going to have to learn so much. I have probably spent. 70,000. I dread to think learning all of this business stuff, but I know now, and thousands and thousands of hours, continuously refining, perfecting, learning new things, keeping up with how things change once you finally got to grips with something. So it's something you want to invest your time into invest money into learning all of these skills. It's this, that is going to create a successful coaching business. Sadly, not your amazing coaching skills, because if we can't get anyone in the door, you're not going to be able to practice those amazing coaching skills. So, yeah. Think about this as a priority. If you want to make a difference with your skills, which I know you do, then decide that you are going to a hundred percent go all in and then marketing and sales for your business. So you do create a massive impact in the world. If you would like my help, this is what I do. So I will share the links, my mentorship program, the business of coaching in the show notes. I have a special offer in June of a 12 month payment plan, even though it's a six month mentorship program. So you can start today for 270 a month. And think about your return on investment. How much time are you wasting staying stuck? When you could have real support from someone who actually cares about you and actually wants you to become successful. This is a mission for me, rather than a business. Anyone will know that. My children know that. So I I'm super keen to help more qualified coaches make the difference that they are here for a, not have to go back to their day job. So wherever you are in your coaching journey, go for it. Commit to going all in. And like I say, at the end of every episode, trust yourself, believe in yourself and be the wise Gardner who keeps on watering the seed.

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Thank you so much for listening to this episode of Women in the Coaching Arena. I have a mess of free resources on my website joannalottcoaching.com. That's Joanna with an A and Lott with two T's. joannalottcoaching.com. And I'll also put links in the show notes. Let me know if you found this episode useful. Share it with a friend and leave me a review, and I will personally thank you for that. Remember to trust yourself, believe in yourself and be the wise Gardner who keeps on watering the seed. Get into the arena dare, greatly and try.

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