A Message to New Coaches Who are Starting a Business - Success DOESN’T Happen in 30 Days

As someone who has carved out a name for themselves within the coaching industry through hard work, study, determination and delivering a good quality service, it dismays me to see so many new coaches being swept up by the ‘manifest £100k in 30 days’ brigade, through fear that their business won’t be a success.

Reading this article this week spurred me to write this post because it demonstrates how the coaching profession is being tainted by a few who give the rest of us a bad name.  But I assure you, we are not all like that.

There are no shortcuts to success

If you are a newly qualified coach looking to start a business, or are thinking of becoming a coach and starting a business, I am sorry to disappoint you, there are no shortcuts to success.  Be prepared to be in it for the long haul if you truly believe that coaching is your vocation.

Back when I enrolled on the MSc Coaching Psychology programme at the University of East London, I was told by the programme leader that if I was doing the programme just because I was starting a coaching business, not to do it.  I was told that making a living from coaching can be very challenging. 

This was so unlike other training providers that I had enquired of who give the impression that you will make a fortune as a coach.  However, I wanted to do the programme because I wanted a credible coaching qualification and wanted to gain a deeper understanding of the psychology underpinning coaching in order to better serve my clients.  It was not because I thought coaching was a 7 figure money making business.

Beware the wolves in sheep’s clothing

Unfortunately, there are a lot of wolves in sheep’s clothing out there who are ready to prey on newly qualified coaches who want to start a business helping people, whilst doing the kind of work they love doing best.

One of the biggest challenges facing coaches who are new in business is getting clients and these wolves know this so they offer services tailored at new coaches, telling them things such as, go from £0-£100k within 30 days by following their programme.

Some even promise to show you the exact same steps that they took which enabled them to go from broke to a 6 or 7 figure business in a very short space of time.  They say, with such conviction, that you too can achieve the success that they have experienced.

Now, I’m not saying that everyone that promotes their services like this is a wolf in sheep’s clothing.  There may well be some genuine ones that have achieved such a significant business breakthrough in such a short space of time.  What my bug bear is, is those that prey on gullible coaches and other service providers who are starting out and are desperate to generate income because their money is running low and they’re not getting the level of income they want coming in.

These wolves know that having come from the corporate world, these new coaches have no experience of running a business and play on their insecurities when they sell them their programmes.

Facebook is becoming a turnoff for this very reason

Facebook is becoming a turnoff for me these days because of the never ending sponsored posts and adverts in my newsfeed telling me I can get high end clients, or I can go from broke to £100k in 30 days if I sign up immediately.

I have met many coaches new to running a business that have fallen into the clutches of these snake oil sales people.  They dangle shiny objects before them, like an oasis in a desert, in order to entice them to buy their programmes.  They promise them that they have the solution to their problem and some coaches fork out £000s yet one year later are still not any further forward with their business.

Some have done programmes that promised them results that will enable them to live a luxury lifestyle, without even being shown the basics of what is involved in running a business or how to get their business structure in place.

It takes a snowball effect

When leaving the corporate world to start a business as a coach, whilst you may have been a big player in your field, you are now the new kid on the block.  Just as it took time for you to carve out a name for yourself in the corporate environment, it will be the same with your coaching business.

You have to start all over again, building your name and building your credibility in order to rise to the top and become known as a leader in your new profession. This takes a snowball effect.  Starting off small and gaining momentum as more people experience you and your services and start telling others about how fabulous you are.

Let your credibility be shown through your work.  Put out material that offers value and that demonstrates your knowledge and expertise in a way that works best for you.  Do this in a way in which your potential clients want to receive it. Tap into your contacts and networks, the people that already know you.

Do this frequently and do this consistently and watch the snowball effect take place.  If people have a good experience with you, they will tell others about you.

Be prepared for the long haul

Don’t get too disheartened if you don’t get the results you want as quickly as you would like.  How long did it take you to get to the peak of your career in the corporate world?  Just as you put in time, effort, commitment and perseverance then, you need to do the same now.

Don’t let money be your only measure of success because if you haven’t got it, it will make you feel like a failure.  If you’re strapped for cash, find a secondary source of income whilst you build your business up.  This could be a part time job, it could be doing private tutoring, it could be renting out your spare bedroom or it could even be something like pet sitting.

A lot of coaches become disillusioned and give up having spent £000s chasing shiny objects that haven’t moved them any further along.  Yes, investing in your business and personal development is essential if you want to achieve growth. I invest in coaches and mentors which has certainly helped my personal and business growth. 

But before you invest £000s, identify exactly what kind of support it is that you need and find the best person who is able to help you meet that need.  And make sure that they have credibility.  Do they have qualifications/experience and a good reputation in their field?  Do they belong to a reputable body that represents their profession?  Do they have professional indemnity insurance?

Dig deep to find the real reason why you’re not getting the results you want

I believe that deep down we know why we’re not getting the results we want.  I have had clients tell me they can’t get clients because no one wants to pay for their services but on digging deeper, they’re targeting the wrong people and not making themselves visible enough to those that need what they are offering. 

Sometimes their own self limiting beliefs have got in the way (and yes, coaches do have self limiting beliefs as well), preventing them from getting the results they want.  Rather than finding someone to help them address their self limiting beliefs, they’ve fallen prey to the shiny objects dangled by the wolves who promise them a short cut to success.  But there are no short cuts to success and unless you deal with the root cause, you won’t progress any further.

Sometimes it’s simply because they just don’t know how to go about doing something or where to start and overwhelm and procrastination take over and they lose focus.

A good mentor once told me that success leaves clues. If the person you are buying services from is as successful as they claim, look for the clues.  And this is so much more than just having a good website and an active social media presence.

Are you a coach or other service provider who like me is tired of these get rich quick gimmicks constantly being marketed at us?  If so, I would love to hear your thoughts.

ABOUT ME:

I am a Personal Development, Career, Business Coach, Writer, Speaker, UK top 50 Business Adviser and the founder of Abounding Solutions. I help women to be authentic, bold, confident leaders  and excel in their careers and businesses.  I also help organisations develop the talent pipeline of women employees so that more women make it to senior management roles.

I write here on LinkedIn, on my website and on Huffington Post on subjects to help women achieve optimal potential in their careers and businesses.      

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