Coaching is a $2 billion industry and there are new coaches entering this space every day.
If you know me at all, you already know I believe in community and collaboration over competition.
So, to me, these numbers aren’t about “tackling” or “outsmarting” other coaches in the business.
It’s about the clients, not other coaches.
The marketplace is becoming more sophisticated and clients are now more familiar with what it means to get coached than ever before.
They have more clarity on what to expect from a good coach and they’re able to identify average coaches from truly great ones.
Here’s what this means for you and me…
We need to step up our game.
There is not much room for error and even less room for major coaching mistakes on the road to becoming a respected, renowned coach.
Here are 3 common coaching mistakes I’ve seen almost every new coach – and even some experienced coaches – make while trying to build a thriving business.
Mistake #1: Trying to help everyone
There is an old saying in sales – if you try to sell to everyone, you’re selling to no one. This applies to coaching but with a twist…
If you try to help everyone, you’re helping no one.
As the industry matures, your coaching skills need to be focused and fine-tuned.
You need to find a specific aspect of coaching that you excel at. Something that fires you up. Something that will keep you motivated in the long-term so you can do what it takes to be one of the best – if not the best – in your chosen area of expertise.
This could be health coaching for women entrepreneurs, business coaching for those transitioning out of a full-time job; mindset coaching for cancer survivors, life coaching for successful entrepreneurs in their 40s… it’s up to you.
When you specialize in a very specific type of coaching, you’ll find the overall size of your audience actually starts to shrink but that’s okay.
It means you can coach your ideal clients at a very high level. This will establish your expertise. It will make your reputation.
Helping and serving everyone will do the opposite.
So, narrow down and focus on a specific audience and type of coaching. It will accelerate your rise to the top of your field.
Mistake #2: Looking for a cookie-cutter approach
World-class coach Tony Robbins said, ”success leaves clues.”
What he means is that you can achieve success in coaching – or in any other industry – by observing the best in the business.
When you note their power moves, decisions, and trajectory to the top, you can reverse engineer what needs to be done to get to the same place.
This is great. But only up to a point.
You are a unique individual and this is your coaching practice.
Your definition of successful coaching practice is likely to be different than everyone else’s – at least, a little.
This means you simply cannot follow a strategy, formula or framework to the letter and hope to hit rockstar status with your coaching business.
For instance, many extraordinarily successful coaches spend hours at a time on social media platforms to connect with their audience.
But what if more than an hour at a time on Facebook drains your energy?
Does this mean you’re left with no other option but to “follow the rules of success” set by other coaches and stay on social media long after your energy and patience runs dry?
Never forget this is your business. You get to set the rules. Look to successful coaches for ideas and insights but make sure you blaze your own trail.
There’s no such thing as a cookie-cutter path to success.
Mistake #3: Being too independent
You’re a free spirit. You’re independent.
You started your own coaching practice so you can make a great living helping others on your terms.
You get to decide how many hours you want to work in a month, what time you go to sleep every night and what time you wake up.
You want to be the one who makes all the decisions. And you take pride in doing everything yourself.
Marketing, accounting, website design, content writing, program creation…
It’s all on you, right? If you agree, you’re headed for disaster, burnout, and disappointment.
It’s an approach that will bring your business crashing down.
If you find yourself doing everything in your practice. Stop. Immediately.
Look at how you can collaborate with others and get help.
Do whatever you need to so you can let go of tasks that will leave you feeling too exhausted and frustrated to do what you’re really good at…
These 3 coaching mistakes are extremely costly, time-consuming and could likely end your coaching practice.
Avoid them and you’ll be able to build a thriving, sustainable, profitable coaching practice without sacrificing your health, your freedom and your sanity.