Most coaches are doomed to fail…
According to the International Coaching Federation (ICF), 82% of coaching businesses fail within the first two years.
If you’re starting an online coaching business and becoming a coach, it’s crucial that you learn how you can to avoid making common mistakes that can increase your risk of failure. Instead, you can stack the odds of success in your favor…
How do you make a living doing work that you love? The best way to accomplish this is by focusing on coaching high-paying clients in the most profitable niche markets. The sweet spot for your coaching business is where you can be most fulfilled, impact the most lives and make the most money.
5 Tips to Increase Your Coaching Impact and Income
#1. You need to do simple market research on the potential profitability of your coaching idea BEFORE you start working on your business.
Most people fail from the moment they decide to follow a coaching idea that is based on a hunch or an assumption. They don’t bother with any kind of research or even testing their ideas out before they commit to them.
You need to consider your passion and other gifts as well as potential for profitability. So, you can have a realistic chance at success from the very start.
#2. You need to focus your coaching on the most profitable niche markets and target prospects that are most likely to buy.
So, you can set yourself up for success… instead of wasting your time and resources targeting the wrong market with ZERO chance of becoming profitable.
#3. You need to specialize in a niche market for your coaching.
A niche specialist is sought after and highly paid… instead of being chosen based on discounted pricing. By targeting a niche, you can be a big fish in a small pond. You can dominate a segment of your target market.
#4. You need to choose a name for your coaching program that can attract your ideal clients… instead of repelling them.
Most coaches don’t realize that people don’t buy coaching. Instead, they buy the results that they get from hiring a coach. You need to give your program a name that promises a SPECIFIC result, transformation, outcome, benefit or solution.
#5. You need to base your coaching price on the results that you can help your clients get… NOT based on the time you spend with them.
Most coaches make the mistake of setting their pricing based on the time spent with their clients. Do not undervalue your services by setting your coaching price based on an hourly rate or the number of months spent delivering the coaching package.
The more attractive your coaching results are to your clients, the higher you can price your services.
The cost of NOT getting the results that you can deliver is the value of your coaching to your clients. The cost of failing to work with you as a coach could be financial as well as emotional, including pain, stress, worry, shame, anxiety and depression.
Why are most coaches struggling… while some are successful? Find out why some coaches are highly paid and in-demand. You, too, can increase your coaching income and impact… WITHOUT working more. Learn more >>
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