Many coaches start out with no business model in mind. The thinking goes: “Oh I know how to help other people with coaching, NLP, … so what I go do is help other people, it would be really awesome to be able to do that”
In order to create a profitable coaching business you want to think things a bit through here.
The great thing about being a self employed coach and entrepreneur is that you can design things in your own way to fit what you want to get out of life.
You’ve to keep in mind that the business is there to support you and your lifestyle and not the way around.
You don’t want to get hung up in a business that is running you instead of you running your coaching practice.
So it’s important for you to create your own business model. And I understand that coaches often fall into the 1on1 coaching as the very first option. And some people really love it that way. But you don’t have to stick with it.
1. Understand your big why
The first step in defining your business direction is that you want to get clear on why you are or want to be a coach.
Maybe you’ve got a message to share with the world.
Maybe it’s just having the freedom of working for yourself.
2. Envision the perfect life style that you would love to live.
This is the second part in finding your direction. In setting up a profitable coaching business you need to know where you need to take it and what the outcome is for you on a personal level of being a successful coach.
What is your ideal perfect day that you want to live? Where are you, what are you doing, who is there with you?
What kind of business would fit this picture?
3. Put on the entrepreneurial hat.
Let’s put down the coaching hat for a moment and put on the entrepreneurial hat.
Keeping the ‘direction’ in mind, and getting out of the ‘coaching’ thinking, will allow you to come up with different business models that will allow you to get your message out there, your freedom, …
Keeping the big picture in mind allows you to stretch your thinking and possibilities into other business models than the 1on1 coaching business model.
The business models are just a frame work or vehicle that will support your message, your service, …
It might be 1on1 coaching, group coaching, speaking, becoming an author, trainer, expert, product developer, online/offline, …
Now tie everything together.
What would the perfect fit for you. For your coaching practice and for your personal life.
Having both in balance will allow you to get your message and your service out in the best way possible. For you and your clients.
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