Inside The Mind of a Successful Business Coach
Before we get into the practices and strategies that will set you up for success as a business coach, let’s tackle the most important element that influences your future.
This is the ONE thing that will decide your destiny - your mindset.
The bad news is, most new – and even experienced - coaches have no clue they’re “thinking” their way to failure.
The good news is you have 100% control over your mindset - the thoughts and beliefs that impact your inner world.
You might have heard of a popular quote by one of the world’s most successful coaches – Tony Robbins who said “Success leaves clues.”
But there’s actually a lot more to it than that. Tony’s full quote…
If you want to become a phenomenally successful business coach, it makes sense to “copy” the mindset of phenomenally successful business coaches.
I’ve had the honor and privilege of coaching and personally partnering with some of the best business coaches in the world and I’ve collected a comprehensive list of their attitude and approach to their work – their mindset.
Here’s a look inside the mind of a successful business coach.
Top 7 Mindset Traits of a Successful Business Coach
They believe in their coaching skills, products, and services. They have 100% belief in their ability to help others.
02 Lifelong Learner
They never stop learning. They’re always looking for ways to improve their personal and professional growth, and they’re happy to invest in themselves. The best coaches are always on the lookout for seminars, trainings, online courses, and in-person workshops that will boost their skills.
They’re dedicated to creating a great income with their business but they have a bigger “why,” a bigger purpose that motivates them like “helping single moms find financial freedom,” or “showing 9-to-5ers how to make the switch to entrepreneurship for more freedom and joy.”
They hold themselves accountable for the results they create in their lives. They’re extremely focused on their goals and dreams, and they don’t get distracted.
They are driven to becoming the best possible business coach they can be. They’re ambitious and motivated to keep going until they get what they want. They’re not afraid of hard work and willing to do whatever it takes to get to the top.
They don’t seek praise and approval – especially not from clients. All of their attention and energy is on helping clients hit their goals. The best business coaches are brave enough to tell their clients what they need to hear not what they want to hear.
They want to help as many people as they can with the work they do. They enjoy contributing and being of service to others and they love that business coaching gives them the chance to do that.
Read through all 7 items on the mindset list again. Now, ask yourself:
Which of these are my strengths and why?
Which of these are not my strengths and why?
Journal your answers or capture them in an audio recording. Now reflect on your “not my strengths” list and come up with 1 to 3 small actions you can take by the end of the week, to improve yourself in these areas.
Specialize To Succeed As A Business Coach
Now that you know you want to be a business coach, are you clear on the topic or area you want to specialize in?
In other words, do you know your niche?
It’s going to be a long, rocky road ahead if you don’t pick a niche as a business coach.
Some coaches resist doing it because they want to “spread the net” wide…
They want to have options to help clients work on all aspects of their business.
This may sound like a great idea but there are many reasons why it’s not.
For one thing, when you don’t have a niche, you’ll jump from one topic to another in your marketing material and copy.
You’ll confuse potential clients and end up losing them.
You’ll also lose clients to other business coaches who took the time and trouble to pick a niche.
Think about it…
If a business owner wants to work on boosting their closing rates in sales conversations, which option would they choose?
Option 1: A “general” business coach
Option 2: A business coach specializing in sales conversations.
No brainer, right?
And the benefits don’t stop there.
The coaching industry is growing at an exponential rate.
Every single day, more and more coaches enter the market and, while this indicates excellent growth for the industry, it also means a lot more competition for you.
When you don’t specialize in a specific niche or area of business, you end up lost in a sea of other business coaches and your chances for success drops dramatically.
Niching lets you stand out in a crowded marketplace, for all the right reasons.
Some popular niches in business coaching include small business coaching, high-performance coaching for entrepreneurs, executive business coaching, business mindset coaching, productivity coaching for business owners…
The list is endless.
The more specific your niche, the more you set yourself apart from other coaches.
Here’s what I mean…
Good: You work with millennials looking to start a business
Better: You work with millennials looking to start a service-based business
Best: You work with millennials looking to start a service-based, copywriting business
When you niche down to the details, you’re sending a clear signal to a very specific group of potential clients.
They’ll read that signal and instantly understand that you are the right coach for them.
A specific niche is the best way to get their attention and motivate them to work with you and not one of the thousands of “general” business coaches in the industry.
It’s time to think about your niche. If you already have one, you can check in to identify any doubts or uncertainty you may have around your niche. It’s always good to regularly fine tune your niche.
Answer the following questions to get more clarity. This exercise is designed as a jumping off point to help you identify your niche. You can journal or create an audio recording.
What are you passionate about in business? Eg: sales, marketing, productivity, business mindset?
Zone of Genius
What comes naturally to you? Eg: organization skills, time management, writing, communication, negotiation?
Do you want to get to 6-figure mark (or more) as soon as possible? If yes, choose a profitable niche. A simple but surprisingly accurate way to do this is to Google your niche. If you notice lots of articles and results around the topic, it’s a good sign that your niche is profitable.
Who do you want to help in your role as a business coach? Do you want to work with people transitioning from employment to entrepreneurship? Do you want to work with empty nesters? (Look for details on identifying your client in Chapter 3)