April 12, 2022
Wondering what’s the best way to fast-track your success as a coach? Wait no more - we have the perfect path to kickstarting your thriving coaching career. In this episode, Coach Ajit shares how he got started in coaching, what is the perfect...
Wondering what’s the best way to fast-track your success as a coach? Wait no more - we have the perfect path to kickstarting your thriving coaching career.
In this episode, Coach Ajit shares how he got started in coaching, what is the perfect coaching industry to start with, which business model to follow, and why it’s such a great opportunity, especially for new coaches.
He also reveals how to coach someone who is more successful than you, breaking 2 of the most common limiting beliefs coaches have and giving you the tools to start building your coaching career.
Coach Ajit (00:00):
You are listening to Master Coaching with Ajit podcast that inspires coaches to impact the lives of their clients more meaningfully. I am Coach Ajit and I'm known for coaching high performers, entrepreneurs, and leaders. I'm also a serial entrepreneur and author of many books. On this podcast, I am answering your burning questions. I'm also demonstrating and deconstructing behind-the-scenes coaching sessions.
Coach Ajit (00:35):
And in this episode of Master Coaching with Ajit I wanna take you behind-the-scenes on, probably the most powerful, the easiest to set up, the most perfect coaching career. See if you're a life coach, if you are a performance coach, if you are a health coach, if you are a business coach, any type of coach that you might be, if you add this one type of coaching practice on top of your existing coaching career or on top of your existing consulting career or training career, you will make anywhere between 30% to a hundred percent more money. Now I know you may wonder what that career is. You might think, I must know this career because if it was that lucrative, why has nobody talked about it? This is one of those coaching careers that sometimes is either very frequently talked about in some communities or is not talked about at all, because the fears that are associated with this particular industry, this particular type of coaching are so high.
Coach Ajit (01:34):
They run so high that people start to judge themselves, get fearful of it. And hence try to steer themselves away from this amazing opportunity that they may have right in front of their eyes. It's one of the easiest markets to enroll clients in. It's one of the easiest markets to deliver to. And in a matter of a few months, you can learn all the skills that you will require for the next coming years to become an absolute dominant person, an absolute dominant coach in this space. I wanna walk you through exactly what this industry is, why enrollment is so easy, what you need to know, what you don't need to be fearful of. But before that, I wanna share with you what I got started and some of the results I was able to drive with very little information knowledge as I got started in this industry, you see my intention to start as a coach was that I have greatly been benefited by coaches throughout my entire career throughout my entire life, really.
Coach Ajit (02:23):
You see, I grew up in a small neighborhood back in India, in Jaipur, and as I grew up in a neighborhood that wasn't financially abundant and I wanted to be financially abundant. I, very early on in my life, was grateful that there were people who were willing to coach me, train me, work with me, be patient with me. As I learned the skills to become an abundant person. And I was at a stage of my life where I was ready to start a business. The first category of people I wanted to serve was coaches. I've always been excited about education. I've always been creating companies that are around media or in education. And I thought there was no other better place to start than a place of individuals that I love. My first challenge was I was an educator. I understood education, but I had never really coached anyone
Coach Ajit (03:25):
I had never really sat down in a one-on-one setting or one-to-group setting in a coaching environment, in a coaching container, and be able to impact somebody's life or somebody's career. And so, while I was pedaling the idea of coaching, while I was transforming lives through educators that I would bring on the platform, I personally had never coached anyone. So I didn't fully understood the woes of starting a coaching business. I didn't understand the woes of building a coaching business. I didn't understand the woes of the challenges that one experiences as they're in the coaching setting. And so I ask myself, how committed am I to a journey, to an industry, to a set of people, if I have never done the same work that I am requiring them to do? Or the same work that my trainers were requiring them to do?
Coach Ajit (04:17):
Who, yes, have all the experience, but how much more qualified would I be if I took that journey with them? And that got me started to think about building a coaching career, something that I committed to myself that I must do part-time and the reason was again, pretty simple. I knew most of you as coaches start their careers as a part-time career, you start this journey because you have more to give you wanna create an additional income. You wanna create more impact while keeping your safe career safe. You may still love your job, but you do wanna do something more. And so I committed myself to saying, I'm going to build a coaching career. It's going to be a successful coaching career, and I'm gonna not do it full time. I'm gonna start doing it. Part-time and I'll see how far I can take it. Now, six years later today, I still maintain a part-time coaching career.
Coach Ajit (05:11):
And last year, while doing this part-time I was able to generate $230,000 in residual coaching income, pure coaching, where I'm actually coaching someone or coaching company in an organization and generating this kind of income. Now, $230,000 annually is a good full-time income. But like I said, I had committed myself to only doing this part-time. I was able to generate this $230,000 by doing only hundred hours of work and by working with only three clients. So what was the breakdown? The breakdown was pretty straightforward. One of my clients gave me about $117,000. Last year, second client was $78,000. And the third client was $35,000 where I invested four days of my time doing an intensive work with them, or the course of four days. Now I'm sharing this information with you so I can show you the possibility that may be in front of you. Again, I'm doing this thing only part time.
Coach Ajit (06:14):
I've invested about $0 in marketing and advertising in this particular service of mine. I don't talk about that I am a coach one-on-one, people can't really find that information openly anywhere. There's no webpage where they can sign up for this. The only way for anybody to really engage with me in this is where I am tracking my hours and, and efforts in connecting with people. And then I track my hours on how much work am I doing to actually deliver to these clients, maintaining this career only as a parttime career. Now, a hundred hours a year puts me at about two hours a week if I didn't take any holiday weeks, but I, I definitely, and some of the weeks would've definitely put in a little bit, extra hours in some weeks, I would've averaged about two hours a week. So in total, what we are really talking about is only a hundred hours annually generating $230,000, putting me at about, I think, $2,300 for every hour that I invested in this business, in this particular coaching career.
Coach Ajit (07:14):
So now you must be very curious. You must be like "Ajit, I definitely wanna know this career where you are generating $2,300 an hour. You say you dedicate only a hundred hours of your time. You are saying you invested about $0 of marketing, and you are able to generate all of this income out of just three clients." And while I say that, I'm gonna give you exactly what I do. I'm gonna show you exactly the business model and the kind of coaching this is. But what I want you to note is one thing, my results are not typical. I'm not promising you, that you will generate the same amount of money. The reason why I cannot promise you these results is because everybody takes what I'm gonna show in their own unique way. You have to take it to market in your own unique way.
Coach Ajit (07:55):
You're going to use this information in your own unique way. You will have access in your own unique way. You will have motivations. That will be different than mine. There is no way I can guarantee that what results I got from myself will be the results that you will get for yourself. What I'm simply stating is I was able to do this consistently over the past several years with last year being these set of results, which is I generated $230,000, I invested only a hundred hours in actually delivering the product, I invested about $0 in marketing the product. And what I'm gonna show you is what is this industry? Why people don't get into it and how you can get into it by understanding the simple principles and simple fundamentals that will change the game for you and help you become a vitally successful coach.
Coach Ajit (08:45):
And you can do this part-time and you can do this full-time if you put in the time and effort to build the first few months and get to a point where you're able to generate consistent income through systems in processes that we will talk about as well today. So firstly, let me reveal to you. What is this industry? What is this perfect coaching career? Well, the perfect coaching career is where you are coaching businesses and you're coaching entrepreneurs. And I wanna say cuz businesses and entrepreneurs, both because people often get very scared and very unsure if they wanna get into a market. When I say businesses, because when I say business, people think big offices, hundreds of employees, chaos, everywhere, and the places where they tend to not want to go anymore. Right? You're trying to start a part-time career. You were in the soul sucking job.
Coach Ajit (09:32):
At some point, you don't want to do it. That tends to be the reality of a lot of people. And that is why we tend to say, that's the kind of coaching I don't want to do because I don't wanna have to deal with that reality again. And that's why I wanna make this distinction that this is not only about coaching businesses, but it's also about coaching entrepreneurs, which is individuals. We are highly creative, who are like you in many ways who are trying to do something that is great for the world in one way or another. They're trying to create a great product to service that really helps humanity, right? So what we are gonna talk about is coaching businesses and entrepreneurs. Now I wanna take away some of your beliefs that you might have around coaching businesses and entrepreneurs, the first belief that people tend to operate from that I need to be successful in business before I can coach somebody on business.
Coach Ajit (10:20):
Well, that seems like that's absolutely not true. And if you want any big evidence on this, go ahead. Find this book called A Billion Dollar Coach. Billion Dollar Coach is a book about a coach that coached Steve jobs. And I think Bill Gates and a couple other billionaires. Mark Zuckerberg and so forth. All these tech entrepreneurs and the person had never built technology. He was not even an entrepreneur. He didn't even have a business. His job was just to coach. So if you think there's no big example of people being able to coach somebody way more successful than they were while that person is one example. I am one of the examples. Most of the businesses that I coach most of the entrepreneurs that I coach have businesses who are financially much larger than any of the businesses that I've built. So there is no direct correlation between your success as a business coach, to you having a successful business.
Coach Ajit (11:17):
And it is your own story. It's the story of people that may have shared it with you. And it tends to be our own story. It's just one of the beliefs that we make up where we start to go, oh, you know, I can't be a successful business coach because I wasn't a successful business. It is just a defense mechanism that your brain may be trying to come up with. So it can stop you from taking something that is an uncomfortable action. You're a coach. So I can have this conversation with you pretty honestly, but pretty straightforward that we tell ourselves stories. And these stories are often to protect us. They're there. So we don't do uncomfortable things. And we stay in the lane that we know is comfortable and is safe. But we all also know that if we stay safe, if we stay comfortable, we are limiting our possibilities of growth.
Coach Ajit (12:02):
We are limiting our opportunities of growth. So if you're ready to grow, let's get ready to get uncomfortable, which means get uncomfortable by reaching out and taking away this defense mechanism that is stopping you by creating this false narrative of that. You cannot code someone that is more successful than you. You are going to coach individuals that are more successful than you because you are a really good coach. And we are gonna work on that on how to really further that experience, how to further that behavior, how to further your own personal narrative in the coming few minutes. The second thing that individuals think and coaches think, and that is why they don't lean into business and entrepreneurial coaching is because they think that they need some very special skills that they need to understand complex financials or complex product related things for them to be able to coach businesses while that turns out to be not true.
Coach Ajit (12:58):
Again, most of the businesses that I coach, I would never have to actually deal with their complex financial systems. Most of the businesses that I deal with, I don't even understand their product half the time, but the reason why I could still impact them wildly is because I understand the principles of when to coach and when to consult. We're gonna talk more about that in just a second. The third thing that you need to understand is that there is nothing complicated about business. People make things, sound really complicated in an effort to sound really smart. I know that to be true because enough times I've walked into a business where I'm dealing with a CEO, I am dealing with a consultant that the company might have hired and I try to get them to simplify what the business is and they tend to complicate it even more and more.
Coach Ajit (13:49):
And what we find eventually through the coaching process is that they complicate these things so nobody can understand. And so they can feel safe in their jobs. But business in essence is wildly simple. It's very uncomplicated. And because it is so uncomplicated, you will find that it's extremely easy, actually much easier than to coach a person is to coach a business. It's much simpler to coach an entrepreneur than to coach somebody that is struggling with their health. We actually take more complicated tasks at hand. When we say I'm a life coach or a health coach, and we are dealing with much more simpler clientele, much more simpler individuals that are willing to create outcomes in their life, much more easier conversations when we are coaching businesses and entrepreneurs. And here is why when somebody's dealing with a personal crisis, when somebody's dealing with a health crisis, there are many layers of complexity that are a part of that change because it has a lot of human emotion, belief systems, limiting beliefs that are constantly stopping them to be able to take action.
Coach Ajit (15:01):
Whereas when you're working with a business or an entrepreneur, the outcome that they're chasing is pretty straightforward. They know the goal they want to get to, they know the outcome and the timeline that they wanted to reach that outcome in. And so when you're talking to them, when you're having a conversation with them, anything that makes sense, they're very willing to accept it. They're very willing to take action towards it. And they're very willing to create results around it because it is so straightforward. There is no layer of complexity that you will deal with when you're dealing with an individual on an individual level or as a health coach or as a spiritual life coach or any other kind of coaching, which actually has much more human element that needs to be resolved, which is easier to resolve in a professional setting because a lot of the personal dramas and the personal challenges that a person may face may not even come to the table as an issue when you're dealing with performance in a company team management, in a company leadership in a company management, in a company or an organization.
Coach Ajit (16:07):
So coaching businesses and coaching entrepreneurs is wildly simpler and less complicated than coaching anybody else. So if you are a life coach, you're a health coach, well, you're in for a treat because you will see how simple it will be for you to transition from everything that you're doing to move into business coaching. Now, let me first explain what are the three and the only three things that you need to work on when you're working with a business you're working on the person you are working on the people around that person, and then you're working on the overall system. So you're working on the person, which is the person that you are actually coaching. You're working on that person. You're helping them really recognize and realize the challenges and work on the goals and ambitions that they might have. Then you are helping their environment by working on the people around them.
Coach Ajit (16:54):
This involves bringing their immediate team together while working with them. This may involve having group coaching sessions, alongside different teams. And thirdly, you are working on the overall system while the person and the group of individuals that surround them will immediately create performance in their reality. If the system stops them from being effective, you will find that sometimes even with great coaching, they're not able to create the great results. That should be a consequence of that great coaching. And that is because they don't have great systems around them. And so the third level that we work on is working on the systems, each of these levels, each of the ways, working with the person, working with the people around that person and working on the systems of the organization is fundamentally based on what we call first principle coaching. First principle coaching stems from the idea of what is called first principle thinking.
Coach Ajit (17:51):
First principle thinking is often used in physics or in sciences, where they would break down a really complicated problem into simpler, more manageable and more understandable portions. And then as they have understood small elements that really create the bigger outcome, they start building from those small blocks. It's almost like breaking down a big thing into small Lego bricks and then building each Lego block at a time to make sure that everything is well understood and any Lego piece that is irrelevant or not important to create the real outcome that we chase. You ignore them, right? This is exactly how you coach someone. You coach someone first personally using the first principal coaching then in a group, and then also as a system. So first principal coaching is the model of coaching that you want to use in any business or organization. If you're curious about first principal coaching, right now, we are enrolling for our Mindvalley-certified business and entrepreneurship coaching program.
Coach Ajit (18:52):
This certification program starts on 24th of April. The class starts on the 24th of April. And right now we are enrolling for it for a very special price. This is a four month program. We have over a hundred testimonials confirming that this program has helped them either grow their businesses, become better leaders, add additional income to their coaching income, create better results with their clients. And so on. So forth. You could find all of that information on the page that you will find linked in the show notes here. Or if you're signed up to our email list, you might have got an email around that. So if you are curious about learning how to really take this coach-consultant approach, how to really take this first principle coaching methodology and take it to an organization and create outcomes for them, invite you to check out more details in the show notes below.
Coach Ajit (19:40):
And here's one thing that I've found that happens at this point. We are really interested. You wanna learn about first principal coaching. You wanna learn about this idea of coach consultant, which sounds really intriguing and interested, but there's a false belief again, that the market has probably given you a false belief that has happened probably because of your past experiences where you may think, well, yes, I wanna learn this thing, but I don't know how I will get clients. How would I enroll clients? How would I enroll individuals into my business consulting and business coaching programs? And I wanna share with you that right now, probably the easiest enrollment you will ever do is in a business coaching program. And here's why, here's what I found when I was coach consulting businesses in the past when I started. And even today, as I enroll new businesses into my coaching programs or in my consulting programs, it is one of the most easiest enrollment conversations that you can have with a client when you are not trying to justify why you charge something, when, what the fee should be.
Coach Ajit (20:45):
Is it the right fee or the wrong fee when you're not trying to convince them that you are actually going to be useful for them, because what you're simply relating to is what is it that they will gain by working with you when I'm working with a client I very easily and humbly can show them strategically on how working will be for a year, will add at least anywhere between million to $5 million to their top line revenue, which effectively means they will make anywhere between 300,000 to 3 million in net profit. Just by working with me, I can do that because of the systems that I show in Certified Business Coach program that I was just talking about. I can show that because I've proven that again and again, by working on many different areas of a business, even one of the areas that really strikes it strikes that much more revenue and that much more income for a business in a fairly short period of time. I've been known to be hired to gain certain amount of revenue in the business and be able to hit that target halfway through our coach consulting journey.
Coach Ajit (21:50):
And I'm showing you all of that halfway into our coach consulting journey. And because of that, I can go in and I can say, Hey, you're gonna make a million dollars more. At the end of it, my fee is gonna be a hundred thousand. They can clearly see that they still gain about $900,000 in either profits or revenue that is absolutely valuable to the company. And so it becomes a much easier enrollment conversation. Versus if I was to say, you will have a better relationship. Now let me help you explain why that is worth a hundred thousand dollars, right? Or you will be living in more optimal health. And now you have to convince yourself that that is worth a hundred thousand dollars, but in the business, it's a really, really easy conversation. Now, I'm not saying everybody will be able to go in and start the conversation by asking for a hundred thousand dollars, you might start by asking $5,000, $10,000, $3,000, whatever it might be, but it would be significantly more justifiable for you to go into a conversation, going into a business and convince them that paying you $3,000 or $5,000 or $10,000 is going to create 10 times more money for the business.
Coach Ajit (23:05):
And because it's coming out of a business account, it's much easier as a decision for our entrepreneurs to make, for business owners, to make, for founders to make, because they know to grow a business, they must invest in the business and you are investment in their business. So it's so much easier for you to enroll somebody who is interested in growing their business. And every business is interested in growing their business. What you really are seeking for is businesses around you, which are plenty. You are buying from them all the time. You go to a grocery store, that's a business. You go to a laundromat, that's a business. You go to a real estate company. That's a business you're interacting with business every day. What you're really curiously asking yourself is which is the category of business that you wanna create an impact in. And you already have an available market in your neighborhood that wants to get your services.
Coach Ajit (24:00):
All you have to do is show up at the door with the right offer and the right systems. Now, inside Mindvalley's certified business and entrepreneurship coach program, you will find that I give you exactly the tools, exactly the tools that you can deploy immediately in these companies. You can walk into these companies and you can immediately deploy a marketing plan. You can immediately deploy a coaching model that will help the founder become a better leader. You can immediately deploy models around branding. You can immediately deploy models around thinking about finances or HR and team and culture and so on. So forth that will create massive gains for these companies. And as they gain massively from these tools, you will be able to generate more and more income for yourself. I clearly remember in our first graduate batch of certified business and entrepreneurship coach, there was a gentleman.
Coach Ajit (24:58):
His name was Abdias. Abdias had shared a story on when he started certified business and entrepreneurship coach program with us. He was a consultant and he was helping out this company and he was helping them out for a small fee. But as he deployed different tools that he learned in Certified Business Coach program, he was able to generate more and more income for the company. And they could directly attribute that growth in revenue and income to Abdias' coach-consultant work in that company and that deployment that he was doing in these companies, these tools that he was deploying in the companies were all from Certified Business Coach. And by the end of the program, Abdias was able to report that he was able to significantly significantly increase his income because now he could go to this company, tell them you've increased your revenue. But this much in, in the last few months that we have worked together, I'll like to get paid this much more.
Coach Ajit (25:55):
And the company very readily and excitedly were willing to pay Abdias a lot more money. Abdias is not alone. There are many other individuals that were in the program that are in the program that have ever since generated more and more income for themselves. By simply taking the tools that they learn in Certified Business Coach and implement it in their clients, companies. They have even used these tools in their own personal life. They were able to generate more and more income, more and more revenue because they were able to take these universal tools and implement in different kind of companies. So if you're ready to introduce a whole different dimension of coaching ability to your portfolio, to whole new dimension of results for your clients, I invite you to go to the show notes and click on the link that will take you to Mindvalley's certified business and entrepreneurship coach.
Coach Ajit (26:50):
I'm looking forward to seeing you inside the program. This is Coach Ajit, and you're listening to this very special episode on Master Coaching with Ajit. Now, before you go, I wanna share with you a very special story of Jennifer. Jennifer, like any new coach was hesitant in going out in the world and presenting her offer to the world. She was somebody who wasn't really confident in her coaching skills. Despite the amount of lived experience she has had, Jennifer was unsure if people would be hiring her, but then she joined us here at Mindvalley Certified Business Coach. And as she went through the program, she started to gain confidence. She started to learn tools and techniques that can really help businesses thrive despite what is happening in the global economy. Now, instead of me telling you what happened next, let me invite Jennifer and let her share her story about how Certified Business Coach helped her create coaching clients.
Jennifer Gosha (27:46):
I'm in this Facebook entrepreneurs group. And someone came in to the group and asked the question said, is business coaching worth the money? So here's me wanting to do this business thinking I, I have to say something. So I got in and I said, what specific business question do you have? Maybe I can help you. So she came back and said, she makes these natural products. People are interested, but nobody's buying. And I said, well, tell me about the person that you're making these products for. And she gave me one really good one and two very vague ones. So I started asking more questions, which is what I learned in the class. I wouldn't have not even known how to structure this conversation. Had I not been in the certification course? So over the course of a couple of days, we're having this mini coaching session on Facebook.
Jennifer Gosha (28:39):
And by now about 15 other people have jumped in they're commenting, they're asking questions. So this other person gets in and says, you have a lot of good advice. What's your business. So I hadn't fully claimed it yet, but I just typed it. I said, I'm a business coach consultant. And she says, great. I just messaged my phone number, give me a call, please. And she turned out to be a business director of an organization that trains entrepreneurs in the community. And she said they had been looking to add coaching as one of their services for their students. And based on the exchange I was having in the Facebook group, she thought that I could be a good match. So right now I coach about 15 hours a week for that organization and the confidence and the skill and the framework to even enter that conversation and even engage with those peers. Those members in that group are from that class, those coaching conversations, those discussions, the Telegram group, just everything bolstered my, my capability to be able to even engage in that conversation and have that outcome.
Coach Ajit (29:48):
If you resonate with what happened with Jennifer, and you would like to experience this too, go over to evercoach.com/cbc. Evercoach.com/cbc. You can also go to our show notes to find the link below. Thank you for tuning in, and I'll see you inside the program.
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