What’s one of the biggest money obstacles coaches have to deal with?
The idea that they want to be getting paid to do good.
Many people go into coaching because they want to be of service to the world.
It’s not just a job, it’s a higher calling.
It’s not just a business, it’s your mission in the world.
As such, sometimes it can be difficult to come to terms with the fact that we can be getting paid to do good.
After all, Mother Theresa didn’t make a lot of money off of her work.
Neither did Gandhi.
In fact, tons of people who were of great service to the world weren’t exactly rolling in the dough and many of them had no desire to.
This can gives many of us a conflicting message:
In order to be of service to the world then money can’t be important.
So what happens?
Many individuals in service based industries never make enough.
For example, in the non-profit world we see employees running themselves into the ground for very little money.
We see many in spiritual capacities afraid to charge for the good work they do, leaving them broke and always struggling with money.
You know you’ve seen it. And perhaps you’ve even experienced it in your own life.
The struggling coach who can’t seem to make ends meet.
The coach who immediately slashes their prices.
The coach who never charges.
The coach who looks energetically depleted whenever they are working.
The coach who has become resentful because they aren’t making money.
The coach who never seems to have more opportunities coming their way.
And yet there are those coaches who seem to be having the exact opposite experience.
People just seem to throw their money at them.
They find success on every corner.
They regularly boast about making six figures.
Oprah calls them.
What’s the difference between coaches who make good money and those that don’t?
The former have overcome the false belief that in order to be of service you can’t really make any money.
In other words, they overcame the belief that getting paid to do good means you’re not really being very good person.
We’re not going to lie, this is not an easy story to overcome because of all the social conditioning that has occurred around this subject.
However, once you do overcome this you’ll see that money and service can easily coexist without any friction whatsoever.
Below you’ll find our 6 steps for getting paid to do good in the world.
Step #1: Determine your stories about getting paid to do good
As a society, we’re pretty messed up when it comes to getting paid to do good.
We’ve had centuries of institutions who claim to monitor morality tell us that wanting money is greedy.
We’re told that in order to be charitable we have to give stuff away.
Industries, like the aforementioned non-profit work, drive employees into the ground because they are “doing good work for other people and shouldn’t care about money.”
We’ve got media outlets and people all around us blaming greedy corporations and politicians for their financial woes.
Essentially we’ve come to believe that as general rule money equates to something wrong.
Furthermore, money is especially wrong if you’re trying to help people. If you’re trying to help people how dare you to make good money?
So the first step in turning this around and opening the doors to getting paid to do good is to see what side of the spectrum you fall on when it comes to this story.
For some, it may be very intense. Perhaps they had a very religious upbringing and that particular religion emphasized the importance of poverty and renouncing worldly goods.
For others, it may be what your parents taught you. Perhaps “Rich people are evil” or “Greedy corporations don’t care about the people.”
And yet still for others, it may just be something you picked up from society as a whole.
For example, the news is constantly pushing alarming stories about how money is going to ruin us or how there is never enough of it.
You may also have people in your life who have a certain belief about getting paid to do good and perhaps you picked up their traumas around the issue.
The point is to get very clear on what the story is for you and then ask yourself, “Where did this story come from?”
Please note, do not ask yourself “Why do I have this story?”
You’ll only get a scripted response from your ego who has probably rationalized your story forwards and backwards to try and convince you it’s correct.
Instead, ask where. This gets you out of your logical mind.
It also helps you realize that perhaps the story isn’t really yours. In fact, it’s very likely that it’s someone else’s story you adopted.
If this is the case, don’t worry, it happens to everyone. Especially when it comes to money.
Money and morality is such an emotionally charged topic that it’s very unlikely that you came up with your beliefs all by yourself.
Step #2: Realize that it’s spiritual to be rich
What’s the number one way to eradicate the false belief that getting paid to do good is wrong?
By realizing that it’s even more detrimental for the world for you not to get paid.
In fact, one can even venture to say that it’s spiritual to be rich.
The phrase “It’s spiritual to be rich” is from a talk Kate Northrup gave at Wanderlust Festival a while back.
In her talk, she debunks the myth that in order to be considered a “spiritual person” that you must relinquish material goods, sell all your stuff and cry out the perils of money and greed.
In fact, her approach to money is vastly different than one would expect.
She believes that taking care of your finances is an act of self-love.
And by the way, taking care of your finances doesn’t just mean budgeting, spending less than you earn and putting money away.
It also means making sure you get paid.
Here’s what happens if you don’t prioritize getting paid:
You can’t meet your financial goals.
You overwork yourself and are therefore not of your best service to your clients.
You become resentful.
You end up in a constant feast or famine cycle.
You’re essentially telling the Universe that you are not worthy of making the kind of money you know you deserve. Therefore less opportunities come your way.
The last one really stings, doesn’t it?
It’s the truth though.
By not realizing that getting paid to do good is an option you block more money from coming in. Not just from a spiritual perspective but in the literal sense as well.
In many of her videos about abundance she mentions how work isn’t just working, it’s our calling.
When we are in alignment with that then the Universe presents us with the opportunity to be provided for.
Part of trusting that is knowing that we can and should be getting paid to do good.
Furthermore, money can be used for good which makes it extremely spiritual.
Let’s face some facts here:
Many of the world’s problems can be solved with money. It may not solve the entire problem, but money certainly does help.
You provide for yourself and your family with money.
Fixing the economy starts with more cash flow.
For example, if you make more money you can hire someone to help you, essentially giving them a job so they can feed their family.
If you aren’t making sure to take care of yourself financially then you won’t be in business very long. This results in closing up shop and missing the opportunity to help more people.
So as you can see, it is actually spiritual to be rich.
Not only do you need money to support yourself and your family but you also need it to continue being of service to your clients.
Furthermore, you can use that money for good works of your choosing.
Bottom line: getting paid to do good actually helps the world.
Step #3: Ingrain this hard business fact in your mind
“If you aren’t being of service, then you won’t get paid anyway.”
We’ve already discussed the fact that many people have a false belief that being of service means you shouldn’t make money.
The irony of all of this is that if you’re not being of service then you’re not going to get paid anyway.
Many people go into business for the wrong reason: money.
And by the wrong reason, we mean that it’s the only reason.
Money is obviously a reason to start a business, and that’s okay. The problem is when it’s the sole reason.
As a result, these people end up not making very much of it.
Or, at the very least, they are miserable when they do.
Meanwhile, those that go into business with service in mind (and combine that with knowing they deserve to make a living) are the ones who are successful not just in the bank account but with overall satisfaction.
So in reality, you need to be of service to your clients in order to make money and pay your bills.
Think about it.
If you’re not being of service by trying to fix someone’s problem then why would anyone pay you anyway?
The disconnect arises when we have a certain definition of “service.”
Perhaps you think being of service is volunteering, but getting paid to fix someone’s problem is not.
If that’s the case, it needs to stop right now.
Fixing someone’s problem and changing their lives through your work is majorly service-oriented.
Truth be told it would be more of a disservice to your client if you didn’t tell them a solution to their problem was available.
To drive this point home, in a previous article we mentioned that sales aren’t really sales; it’s sharing.
You have the solution to someone’s problem and you are telling them about it. It’s that simple.
Furthermore, and perhaps even more detrimental, you’re being of a disservice to yourself if you don’t get paid accordingly.
Step #4: Figure out how to do sales from a place of service
To expand upon the last point we’re going to talk about some ways that you can remain in a place of service while doing sales.
Why specifically during sales? Because sales is what gets you paid.
As a result, this is where the story “you shouldn’t be getting paid to do good” comes up the most.
This is when coaches slash their prices.
This is when they end up doing free work.
This is when they freeze up at the thought of negotiating.
This is when they tend to feel guilty for the charging period.
You can combat all of this by keeping service in mind through every step of the process – from marketing to closing the deal.
The first phase is your marketing.
You have to keep your ideal client in mind by asking yourself:
What are they struggling with?
How can I help them?
This is how you come up with helpful content which is usually your first point of contact.
The next phase is qualifying the lead.
Often times this is a free consultation of some kind so that both coach and client can get a feel for each other.
Free allows the potential client to start trusting you.
Free allows you to help a lot of people, even if they don’t come on as a client right now.
(P.S. You can also use the latter to tell your ego to take a back seat because you’re giving plenty away already.)
And finally, if they are a good fit for your coaching, we get to make the sale.
It’s important to remember that just because you’re asking for money here doesn’t mean you’re not being of service.
Furthermore, sales done properly is done from a place of trying to help someone, not making a quick buck off of them.
Not only does it feel less slimy, it’s also way more effective.
Lastly, trading money for your service is just an exchange of value.
You give something to them, and they give something to you in return. Simple as that.
This is where your ego may pop up and say “But you’re being of service! You shouldn’t want to receive anything for being of service!”
Be vigilant as this is just that old school social conditioning coming into play.
Just remember that this is no longer your story.
Step #5: Allow yourself to give back in little ways
If you’re really concerned about giving back (as you should be) there are ways you can do it while still getting paid to go good in the world.
You’ll find some ideas below:
Give a percentage of proceeds to your favorite charity or organization.
This not only helps you give back, it’s also a smart business move.
First, it shows potential clients that you care enough to support worthy causes which can help them make a decision about whether or not to hire you.
Second, charitable donations can be tax-deductible. (Make sure to double-check with your accountant on that one.)
Offer a scholarship to your coaching program.
One great way to give back while simultaneously creating some marketing buzz is to offer a scholarship for your coaching.
For example, Marie Forleo holds a contest every year where people submit videos explaining why they should win a scholarship to her famed B-School.
She’s not the only one either.
Hibiscus Moon Crystal Academy is also another stellar example of how people in spiritual and service-based industries can use scholarships to give back and market their businesses.
Many coaches across the globe do similar things to raise awareness about their programs and give back at the same time.
Have a referral program.
Another way you can give back and simultaneously build your business is to offer a referral program.
A referral program is when you provide some sort of incentive to current or prospective clients for sending new people over your way.
For instance, for every new client that comes on as a result of a current client’s recommendation some coaches offer a credit or discount to be used toward their current client’s next coaching package.
Other businesses send little gifts to like an Amazon or iTunes gift card.
It’s a wonderful way to grow your business, make your current clients feel special and help them out a bit.
Conduct free webinars.
Free webinars are a great way to give back and get leads at the same time.
You offer free content to whoever wants it and perhaps you can get a couple of clients from it.
How often you want to do this is up to you.
Since it does generate leads for potential clients perhaps doing them often works best for filling your pipeline.
You can also take this online concept and offer it in your offline marketing as well. Perhaps by offering the occasional free event.
For instance, several network marketing companies do this to raise brand awareness. You can do the same as a coach.
Offer free mini sessions.
We already mentioned this under the sales section but it’s worth noting again.
Free mini-sessions allow you to help a lot of people.
They also serve as a potential sales call.
Please note, however, to limit mini sessions and consultations to one per person.
Unfortunately, if you’re not careful some people may take advantage of this which is something you definitely want to avoid.
Of course, there are instances when you can offer more than one.
For example, an old client wants to come back after some time and you need a better understanding of what it is they’re looking for.
You already know they aren’t taking advantage because they’ve paid you before.
Besides, as a good coach you know that circumstances change so you need to know whether or not you can truly help them this time around.
Step #6: Decide how much pro bono work you will do in a year
We can’t do everything for free or we’d starve.
That’s just life.
That’s why we need to give ourselves a limit for the amount of pro-bono work we do in one year.
How many scholarships will you give away?
Which organizations will you do an event for free? (And how many times?)
How many free webinars will you do in one year?
By balancing free things with paid services you can accomplish many things.
From a business perspective, you get leads that could eventually turn into paying clients.
From the perspective of being of service and giving back, you’re offering stuff for free.
This allows people who may not be able to afford your full services to still get some help.
As such your being of service helps get you paid and still helps a lot of people.
This may beg the question, “Why do I need to limit the amount of free stuff that I do?”
It’s mostly to keep you in check so that you don’t go overboard without taking care of yourself.
It’s kind of like physical self-care.
You get enough sleep and exercise so that you are healthy enough to meet your priorities and take care of others.
The same applies to money.
You make sure you have enough in the bank to take care of yourself so you can meet your priorities and take care of others.
From a more practical perspective, you don’t want to run yourself into the ground or deplete all of your energy on things that don’t get you paid.
Mostly because we live in the reality of this world which means we have bills to pay and financial goals to reach.
As an important side note to all of this, please keep in mind that there is absolutely nothing wrong with wanting to reach certain financial goals.
Nor do they have to be in conflict with being of service.
As we already discussed if you reach your own financial milestones you can use that money for the good of yourself, your family, and ultimately the world.
If there’s anything at all that you get from this article let it be this: you can start getting paid to do good with your coaching practice. In fact, you deserve it.