A lot of coaches believe that you need to coach pretty much day and night to generate revenue in your coaching business and they also believe that small and mid-sized companies can’t pay well.

This is 100% false.

One survey on Protoly reveals that the median hourly rate for coaches is just over $400 and lots of companies are willing to pay that.

This is why many business coaches are generating massive income every year!

So forget about this myth and understand that when you have great coaching skills and you know how to connect with the right clients, you’ll quickly grow your coaching business to 6 or even 7-figures.

This is a huge myth and it’s the reason behind many non-starters in the coaching business industry.

The truth is you don’t need to make more money, have extraordinary business skills or be better than your client in all areas, because a coach’s role is to help clients identify their problems and then guide them towards finding a solution that works.

So you don’t need to be the best at everything…

You just need to be the best coach you can be.

Just about every business needs a great coach and this is the case whether the company is in “trouble” or not.

Coaching isn’t just about helping Founders and business owners get out of a problem or overcome failure. It’s also about creating powerful visions and goals, reaching potential, managing and scaling the business and so much more.

The idea that you need to focus on companies that are having issues is just not true.

The best coaching results often happen when you’re working with a company to help them avoid major pitfalls and challenges in the first place and not just working to apply a “band aid” solution when things have already fallen apart.

This is an unfortunate myth or belief that comes from the idea that high performers and successful businesses don’t need a coach.

The opposite is true.

People and companies who stubbornly hold onto methods that don’t work rarely reach out to get help from a coach who can get them back on track.

High performers, on the other hand, are more than happy to ask for help from skilled experts.

Business coaches often end up coaching winners who have a burning desire to reach for bigger, better goals.

If you’re a coach or thinking about becoming one, here are 2 things that are true about you:

1. You’re generous and giving

These are wonderful traits and they’re important in your work as a business coach but they can also be your worst failings.

There’s a cold, hard truth you need to know and it’s this…

Your best work as a coach will come through when you’re able to set boundaries with clients and when you work with people and companies that are aligned with your values.

So don’t make the mistake a lot of new – and even experienced – coaches make. Don’t feel like you must coach anyone and everyone who hires you.

This is a big mistake and you’re guaranteed to regret it sooner rather than later.

If you’re not passionate about all things related to starting, growing and scaling a company, and if you’re not excited about helping clients uplevel their business and entrepreneurial skills, it’s time to reconsider coaching small and mid-sized businesses. 

These companies often experience lots of “growing pains”, challenges and obstacles.

One of your key roles is to hold a positive, supportive space so you can guide your clients, no matter how hard things get. 

You won’t be able to do that effectively if you don’t have true passion for your work.

This is especially true for small and mid-sized companies that often need their coach to also be a mentor, a trainer, a facilitator, a consultant, and sometimes even a life coach. 

A truly great business coach needs to be flexible, open-minded, ready and willing to step into these various roles when the need arises.

This is a tough one for a lot of kind-hearted coaches who don’t want to “upset” their clients with hard truths. 

The danger with this is that a lot of good coaches end up “sugar-coating” the truth with their clients and this could lead to confusion and ultimately, less than favorable results.

A coach who’s willing to be disliked is a coach who is willing to tell the client what they need to hear and not necessarily what they want to hear.

Real growth and improvement can happen only when a coach says what needs to be said for the greater good of the company, the team and the Founders, and not just the things that gets the coach praise, approval or admiration.

This is related to “comfortable with being disliked” where you’re committed to being honest no matter what and it’s also about being in full integrity in your work as a coach.

Never make promises you can’t keep and make sure you’re ALL in when it comes to helping your clients achieve their goals and their ultimate vision.

One great way to stay on the path of integrity is to make sure that you set expectations from the start. This helps to clear confusion and doubt and it also means both you and client are clear on what to expect, moving forward.

The best coaches in the world want the best for their clients and a big part of this is to make yourself easily accessible so they can connect with you and check-in with you when they need you. 

Often this means giving them opportunities to reach you outside “official” coaching sessions and customizing packages or contracts so clients feel fully supported. 

Just to be clear, this isn’t about letting people reach you or talk to you day and night and on holidays and weekends. Make sure you have healthy boundaries in place so your clients understand what’s acceptable and what’s not.

Healthy boundaries allow you to show up at the highest level as a coach and it creates a framework where you get to nurture a powerful, respectful and truly transformational relationship with the companies you work with.