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Joanna Lott Coaching

Listen in for five lessons Jo wishes she’d known five years ago when she quit her job and trained as a coach. These lessons are valuable insights for both new and experienced coaches who want to grow their businesses and move forward.

Show Notes with Time Stamps:

[00:00:00] – Introduction to the podcast and Jo Lott.

Lesson 1: Get Clear on Your Niche and Ideal Client [00:01:00]

Lesson 2: Learn to Become Comfortable with Being Visible [00:04:00]

Lesson 3: Focus on Delivering Great Results [00:06:00]

Lesson 4: Don’t Undervalue Yourself [00:08:00]

Lesson 5: Find Your Community [00:11:00]

Final Thoughts [00:13:00]

[00:15:00] – Closing remarks, free resources, and call to action.

Useful Links

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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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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Hey, welcome to episode 65 of women in the coaching arena. I am so glad you are here. Today, I'm going to share some key lessons that I've learned over the five years since I quit my HR role and began my coach training. So, whether you are just getting started in your business or have been doing this for a while, I hope my insights will help you to grow your business and move forward today. So lesson one, no surprise. Get clear on your niche and ideal client. One of the biggest mistakes I made and I see new coaches make all the time is trying to be a generalist and work with anyone. That might work for a short time to gain a couple of clients that are really low rates, but it's really tricky to build a long-term sustainable business that way. It's tricky because you can't charge enough for generalist coaching. You need to learn how to talk to the results so people can see the return on investment of that coaching session. I think you also need to do it with love. Like you are going to have to immerse yourself in this world. The niche you pick needs to be something you are happy to talk about day in, day out. So really hone in on exactly who you want to serve. It's really nuanced. And I think that's often missed when you start your own business. That say mums, for example is not a clear niche. You need to be super specific. Like for example, people who have a similar niche to me, We'll niche down in coaches already earning 10 K per month and wanting to earn more. So it's not just, I'm going to choose coaches. It's exactly who are you aiming for? And what are you helping them to achieve? Don't be afraid to niche down. I held a workshop a couple of weeks ago, and one of my previous male clients had niched down into midlife males, I think. And he shared on the workshop that actually he's had loads, more female clients since doing that. Because it's created the intrigue of like, oh, well you work with me or is only men. So he shared from his experience niching down, even though he wasn't only working within his niche, target market has really helped him to grow. The more specialized and tailored your services are the more you will be able to stand out, talk with radical empathy to your ideal client. Charge good prices and help your clients achieve outstanding results as you practice your craft again and again, and again, and start realizing what are the obstacles at this target market are generally experiencing, and then you can get really good at helping them to solve that problem. Lesson two is that you will need to learn, to become comfortable with being visible. That doesn't have to mean social media, although that is a quick and easy way to start and especially to reach your previous network, which are always your first port of call, when you start your business. But there are loads of other ways and the best way will be the best way for you. So it really needs to be something that you are happy to consistently show up and do. I was listening to a YouTube video this morning and the person was sharing that when he started his business, he was looking for the magic pill and the one system that would help him to scale and grow his business. And actually what he realized when he did find his magic pill, which was using SEO and blogging. And he ran a course on that to help people to grow their business. And he soon realized that though the course was good. The people were not consistently blogging, therefore it was never going to work. So it's about thinking what is going to work for you and what are you prepared to go all in on. I really don't think you can succeed with a half-baked approach. You need to commit to your business. If you want this to work. And I have a lot of calls who say, I don't need the money. And that's absolutely fine, but then tune into why you do want to do this. Like have a mission. I have a mission to help make a million lives better. And the best way I can do that is by using my obsession and love of marketing and helping coaches to grow their business, to help me help them. And then help them help as many people as possible. So that is the way I'm going to reach my goal. So it's not a financial goal that I have. It's a goal to share my mission, to help people live better lives. Lesson three is focused on delivering great results. At the end of the day, your business will succeed on the case studies and testimonials you receive. I continuously reflect on how I can improve things. I have another coach in my program now who is direct messaging people. We are analyzing regularly how everyone is doing, considering who may need some more support. But it's also at the stage that I can't do that on my own anymore. I can no longer carry in my head what's going on for each individual client at any one point. So I have created systems, including Google forms. Including my coach. Including getting people to share every single call so I can understand a rough picture of where people are at but also systemize where people are at. Now if you are not delivering a scaled model, like I am, that will be quite different for you. And obviously you will probably have one-on-one really intimate, connected access to your clients to know how they are doing. In this one comes the quandary, that many coaches I work with experience, which is, are you only ever doing pure coaching or are you ever having a blend of coaching and mentoring? And most coaches that I work with soon, find that most people have come to them because they have the same sort of experience. So usually they want to gain some of that experience from you otherwise they could just work with anyone. So I have a great client Louise who works with communications professionals. And, you know, she's attracting communications professionals because they want her director level communications experience. And she was obviously trying to do pure coaching and finding that sometimes people were frustrated and wanting to get her view on what was going on occasionally. So I think now she is trialing and growing as she gets into her own business. And realizing that life isn't always as clean and textbook as we want it to be. So learn to experiment. Find your own style. And realize that life is nuanced. Just like coaching is an, every single thing we do in life. And there is no one right answer for exactly how you should deal with things. Lesson four is don't undervalue yourself. Most coaches that I start working with are seriously undercharging their services. And it may seem like an individual issue, but sadly it's actually impacting the entire industry and you don't see lawyers or accountants going around saying, I don't mind doing it for 20 quid. So in other words, how can we all raise the bar in this industry and have it like a professional industry, like lawyers, accountants, counselors, all of these other fields. But I completely get that while you are doing, for example, your ICF accreditation. And while you're doing your coach training, you may wish to do that. And that's completely fine. I do realize there's a lot of work to do on this. And I had to do a lot of work personally to raise my prices. And still do a lot of work personally, to become comfortable with earning a good salary for my good professional service. So do your research on what other successful coaches in your niche are charging. Whilst you might believe that the cheaper your prices are, the more clients you will get. Sometimes that's not always the case. I remember when I started out and there was this coach who I thought was brilliant. And as soon as I saw her prices, which were, I think 70 pounds per session, if I'm remembering rightly. My immediate thought was, oh my gosh. I thought she was a really good coach. So even though she probably was a really good coach we automatically think about price as value. So, if you are shopping, for example, we know if we pay a hundred pounds for a pair of jeans, they're going to feel nicer than a five pound pair of jeans. Even if it is just in our imagination, that is generally how we've all been raised. So it's something to really consider when you grow your business and strangely my signup rate as I've continued to increase, my prices has gone up and up and up. So I'm always busting my own limiting beliefs about what is my own ceiling. That's not to say you can always go in at premium prices. And I think people look at my prices and say, oh, well, it's all right for you. I'd love to be charging that. But just know that I started my business of coaching program at less than a thousand pounds, then I increased it to £1250 £1500, £1750 2500, and now it's at £2997. So just know I have earned my stripes as I've gained more case studies, more experience. and, more credibility in the market. So don't compare yourself to people years in and think you should be charging these prices because sometimes you do need to get that back up, that material, that expertise, those case studies, to be able to command higher prices. And just know that this is a journey and one price does not mean one price forever. You can continuously raise it as you raise your own energetic level money, mindset, and experience. And lesson five is find your community. People greatly underestimate how difficult it is to do this alone. You will win the race when you can stay in the race longer than anyone else. And that is the key to being a successful entrepreneur. It's also a lonely time as a coach. I do have lots of communities, but I still feel loneliness when something happens and you just want to quickly share with someone or say something. So it really does matter. So find as many people as you can to be able to share your wins, share your challenges. Move forward quickly. Be inspired to take action. See what's possible. I heard a quote the other day, which was be in a room where the results you want a normalized. So that's why I love starting my calls with what's going well right now. What wins are there? So you start to see what is possible for you. It's also worth thinking on the flip side of that, that negativity breeds negativity. It's really easy to get into that boat. And start to complain as well. It's a bit like when you are unhappy at work, which I was, And we just used to go in a moan all day long. That was so contagious that you really struggle to be a high performer in a negative team or negative environment. So really do think about your environment and gain access to a room where the results you want are normalized. If you would like access to my room, I run a program called the business of coaching, where we have a community, the training, the support, the love, the care to make this happen. I would love to hear from you. You will find the link in the show notes to all the details and how to sign up. These are just a few of the lessons I have learned over the years. I really hope they resonate with you and provide you with some inspiration and value as you continue to grow your own successful coaching business. I think my final nugget for today is to also have faith. This again is greatly underestimated. You need to believe that this is possible for you. And if you don't believe that you need to work damn hard to ensure you do believe it, whether that means affirmations in the morning, meditation, visualizations, whatever you need to do to really start stepping into it. Also actually taking action will build that faith. Just start doing stuff and you will begin to grow that faith. I know that I certainly didn't have that faith. When I started my business. I think it was actually a really, really small, tiny flame inside and then through consistent action over several years, I now have the faith that I can do this. I can pivot. Should anything go wrong? I can make decisions and that doesn't always need to be staying in entrepreneurship. I had a lovely. message from a previous client last week who is now relocating from London across. the world, which was her absolute dream when she signed up to my program, the business of coaching and it wasn't through coaching. She realized that she wanted the stability of a job because she was a single person. She had no one else to rely on. It was too unstable for her. But she still messaged me saying joining your program has helped me learn how to negotiate, bring coaching into my role, sell coaching, that she wasn't expecting. And now also come back to that vision she created on day one of my course, which was moving to this country where her parents live and living a fulfilling life. So sometimes success isn't always what you might picture when you start out. So hold it lightly. 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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