How To Start Your Coaching Business
- Nov 13, 2023
- 4 min read
Updated: May 23, 2024
Written by: Endora Mackrodt, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Learn how to build the 3 fundamental pillars to starting a coaching business from zero with full clarity and start selling your offers to the right people.
So, you’ve decided to start your online coaching business? That’s amazing! There are so many opportunities out there for coaches nowadays!
Now, I can imagine you are very experienced in something, or you took a coaching training, and now you are wondering: Where do I even get started?
You came to the right place! Today, we are going to show you step-by-step how to set the fundamentals for a successful coaching business. I hope you enjoy it!
The 3 pillars
It’s not enough to take your coaching training, set up a website, and start offering your coaching without total clarity about WHO your client is, HOW you will connect them, and WHAT you have to offer to solve their problems.
Before even getting started promoting your coaching business, you need to know the following
Your Ideal Client Proflle: WHO is your client? Who is the person you want to help? What are their problems? How can you help them?
Your Message: HOW will you connect with them? How do you communicate to them the value of what you have to offer?
Your OFFER: What kind of coaching do you offer? How does it work? How much does it cost?
Those are the three fundamental pillars of starting your coaching business, and we will show you how to do it today!
Who is your client?
Before you start any business, the first thing you need to know is who it is that you will be selling your services to.
The internet is a wild place, and you will be competing with tons of people offering pretty much the same as you are.
How do you stand out?
You niche and get granular about the person you want to be working with.
There’s much competition online, but also, there’s much space. You just need to know how to communicate with your dream client, and for that, you need to know them inside-out: who are they? What do they do? How much do they earn? What do they eat? Do they have hobbies? What are their problems? What do they want?
Your message
Now, let’s go beyond your ideal client – getting clear about who you are as a coach, how you can help your ideal client, and the transformation and value you can bring to their lives.
Your messaging is a fundamental stone to your business foundation. From this message, you embody your offer, you get confident about the value you bring, and it will also help you as a hub for any content you create online – be it in social media, for your website, or even your business pitch. It will also help you stay consistent with the message you are sending out to the world.
Your offer
Before you think about the technicalities of your coaching, think first about how you want to market your coaching and how you want to package it. Would you like to help clients individually or in group sessions? Will you offer a program with a particular duration or personalized packages depending on clients' needs?
Here are a few pros and cons of each modality
Individual coaching
Pros: highly personalized and focused on the client’s individuality.
Cons: gains depend on the number of clients. The more personalized, the more work that limits the number of clients you can take in.
Group coaching:
Pros: optimize time and get more people working together, freeing up your time. it can be periodical (with a number of new groups starting per year), constant (with recordings), and higher profit.
Cons: Long preparation for launch and filling up spots can be a challenge initially; it’s ideal to have a network already to promote it better.
Programs:
Pros: you may have already thought about the framework and methodology you will be applying for specific problems you want to solve. This can be a great option. Programs usually have a duration of 4-12 weeks, and you need to tell the client what to expect. Programs can bring a higher conversion.
Cons: sometimes, problems run beyond the program scope, and you need to be ready to improvise. So that you know, you will offer certain items you need to deliver.
Personalized packages:
Pros: excellent for when clients still lack clarity about their goal or short-term coaching.
Cons: you need to sell in quantity for a considerable profit. It doesn’t bring security. Clients may not want to continue afterward.
Uff, I know! That was a lot! But trust me, once you get crystal clear about your ideal client, your messaging, and your offer, you have all you need to start selling!
Want more help in nailing your ideal client, messaging, offer, AND pricing?
Do you need further help with it and promoting your coaching business? We, at LGWE, are experts in strategy for coaches and offer DFY services that will bring in new clients and long- term success to your coaching business!
I hope you found this article helpful. Make sure to follow us on social media for more informative articles to grow your coaching business!
Endora Mackrodt, Executive Contributor Brainz Magazine
Endora is a certified personal, CBT, and mindfulness coach and an online business growth strategy expert. After over a decade of experience in sales, business development, and operations, she decided to pivot her career toward coaching. But it wasn't long before she realized her passion was helping other coaches grow their businesses. As someone with a wealth of knowledge in lead generation and social media growth, she knew she couldn't keep this valuable information to herself, so she founded LGWE – The One-Stop Shop For Coaches. Her mission: Help coaches focus on what matters: Coaching!
