Written by: Angie Giltner, 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.
In today's dynamic business landscape, a degree is no longer the sole determining factor for the success of your coaching business.
While formal education undoubtedly provides valuable knowledge and skills, it is by no means the only path to building a thriving, profitable business. This article will explore practical strategies and essential principles for aspiring coaches who are eager to build a successful business without a degree.
Many influential entrepreneurs and business leaders have achieved remarkable success without a degree, such as Bill Gates, Oprah Winfrey, and Steve Jobs.
A crucial step in building a successful coaching business without a degree is identifying your passion and purpose. Our purpose determines who we are. Who we are and where we want to go determine what we do and what we accomplish. What problem or need are you truly passionate about solving? Why are you passionate about addressing the identified problem or need? Why is it critical for you to ameliorate the problem or need? Understanding your purpose will serve as a driving force, providing the motivation and resilience needed to overcome challenges along the way.
Adopting a growth mindset is fundamental for coaches without a degree. Embrace a mindset that values continuous learning, adaptability, and perseverance. I boldly assert that as a coach, you must always have a coach! If you expect clients to value and invest in coaching, you must be willing to do the same. Practicing what you preach builds trust, adds credibility, and teaches you coaching techniques without the time and cost of a degree.
Your network is your net worth. If you have an owned list of 5,000 email subscribers, you can anticipate earning $1/month per subscriber. Monetizing a list that you own is an article for another day. Building a strong network is invaluable for any coach, regardless of educational background. Attend industry events, join professional associations, and engage with like-minded individuals.
Networking provides opportunities to learn from experienced professionals, gain valuable insights, and form mutually beneficial partnerships.
Experiential growth is an excellent teacher and can often be more valuable than theoretical knowledge. Ask your coach to teach you how to develop your unique coaching style. Ensure they include a deeper understanding of up-to-date coaching strategies, real-world business operations, and today’s challenges.
Who is in your corner? Building a successful business requires support from a variety of sources. Surround yourself with mentors, coaches, and advisors who can provide guidance, share expertise, and offer valuable, candid feedback. Your corner should not be full of people who will continually feed your ego and mention how great you are every 5 minutes. As a coach, you must be willing to accept candid feedback and harness its teachings. Your clients are going to provide brutally honest opinions whether you ask for them or not, so, you might as well get into the practice of hearing it. Rest assured; this is not a practice they teach in higher education.
Self-education is a powerful tool for entrepreneurial success. Read books, listen to podcasts, and follow influential business leaders in your industry. Stay up to date with industry trends, market insights, and best practices. Develop a habit of continuous learning and remain open to new ideas
and perspectives. My seven-day-a-week, daily routine is wake-up in gratitude, go pee, then learn something for 30-60 minutes. Are you noticing a theme in this article?
Continuous experiential growth and development is the key to a successful coaching business.
Identify the critical skills necessary for your business venture and focus on developing them with your coach. Effective communication, especially listening, leadership, problem-solving, and adaptability are just a few examples of skills that are highly valuable for coaches. Seek opportunities to enhance these skills through practice, feedback, and personal development initiatives. Practice in networking situations, with your support system, and with your coach.
In today's digital age, technology levels the playing field for entrepreneurs. Leverage digital tools, online platforms, and social media to reach a wider audience, automate, streamline operations, and enhance customer engagement. Stay abreast of emerging technologies relevant to your industry and explore how they can be integrated into your business strategy.
Invest time and effort into building a strong brand identity that resonates with your target audience.
Focus on delivering exceptional value and outstanding customer experiences. Prioritize building a reputation for reliability, integrity, and quality. Satisfied customers, or as I call them “loyal superfans,” can become your most powerful advocates, aka salespeople, and contribute significantly to the success of your coaching business.
While a degree can provide a solid foundation, it is not a prerequisite for building a successful business. By identifying your passion, cultivating a growth mindset, and leveraging experiential growth, you can overcome the absence of a degree. Embrace continuous learning, surround yourself with a strong support system, and focus on developing key skills. Remember, determination, perseverance, and an unwavering commitment to delivering value are the cornerstones of entrepreneurial success, regardless of your educational background.
And, most importantly, always have a coach!
To learn more about developing your skills as a coach, schedule a complimentary coaching session here.
Angie Giltner, Executive Contributor Brainz Magazine
Angie believes that women are the driving force of entrepreneurial growth and women-owned businesses are key to worldwide change, innovation, and advancement. As a Master Business Coach, podcaster, and best-selling author, she energizes women from all around the world to succeed in business. Angie focuses on providing support and guiding women through a proprietary, proven client acquisition and business performance method so that they can become powerful entrepreneurs and leaders for women.