I see you Googling how to start a coaching business.
I see you aspiring to be a coach, a business owner, and a formidable woman in business. Yet, you’re stuck. You’re spending your days in a private practice clinic that feels, well, way too clinical. As a result, your work-life is lacking spirit and passion…
Sure, you get a committed client now and then that you’re eager to work with, but all-too-often the day’s sessions drag on without any clear solutions in sight. You’re finding it difficult to truly help your patients because compassion fatigue is creeping in. You hate your schedule, and you’ve even started procrastinating on your progress notes and clinical documentation, which only backfires with you bringing work home and staying up even later to catch up.
I don’t blame you. I was you.
Work driven from financial fears and other forms of obligation just isn’t enjoyable. It can’t possibly provide the inspiration or job satisfaction that you’re longing for. (And let’s face it, keeping up with the necessary paperwork for 20 plus clients per week is exhausting!)
At least the compassion fatigue and lack of flexibility in private practice are motivating, though, right?
This void- this absence of job satisfaction- on your current career trajectory is what motivates you to continue learning about coaching. It’s why even though you’re tired after yet another long day, you still spend extra time each evening gathering up all of the knowledge you can about how to start a coaching business.
But despite your many accolades and degrees, you feel a little overwhelmed. You’re smart enough to learn how to start a coaching business, sure, but you just don’t feel like you’ve got the resources.
You feel like there’s no possible way to replace your current income- let alone build a big enough client base to even cover the costs of running your own business- without reeling in as many coaching clients as possible. And even you – an entry-level entrepreneur- know that’s a tall order to fill!
Fortunately, you don’t need to.
Appealing to the masses is a massive undertaking that offers little to no financial benefit to your business in the coaching industry. Yet, trying to do so takes up more time, effort, money, and energy than the opposite (and more successful) strategy does. Simply focusing on a narrow niche of “ideal clients” that you feel passionate about serving sounds counterintuitive, though. How could working with less people make you more money than you’re making in private practice?
Working as a generalist rather than a specialist won’t get you very far in the coaching industry. Here’s why:
You won’t be able to establish yourself as an expert in the coaching industry.
You’ve heard the old cliche ‘jack of all trades, master of none’. It couldn’t be truer in this circumstance. Expertise is the basis of the coaching business! Who wants to pay for life, love, or career advice from someone who isn’t an expert? If that were the experience that coaching clients were looking for, they’d be asking advice from just anyone off the street. The coaching business wouldn’t even exist!
You’ll end up lacking passion for your business.
Passion is drive.
It’s motivation. It’s power. It’s purpose. It’s potential.
Oprah Winfrey has even been quoted as calling it ‘energy’. She and lady business owners the world over will tell you that you’re going to need all of those and more to succeed in any industry. Coaching is no different; it must be driven by passion in order to be truly impactful.
Building your own business means choosing your target market, and that means you have a luxury private practice psychotherapists don’t! Coaches get to handpick who we’re going to work with! Not taking advantage of that- not outlining and then directly targeting your ‘ideal client’, the one you’re meant to serve- leaves you open to facing many the same struggles you’re going through now once again later on down the road.
It leaves you working with a mixture of some clients you love and some clients you’re only driven to take on due to an ill-founded sense of obligation. In which case, what’s the point in leaving psychotherapy behind, learning how to build a coaching business, and expending so much effort doing it, only to find yourself burnt-out once more in a few years?
Your business will actually appeal to fewer coaching clients.
Coaching services aren’t covered by insurance. They tend to be pricier than therapy and the individuals willing to invest in them are (rightfully) choosy about which coaches they’re willing to purchase a package from. They’re looking for someone that they can relate to- a coach who seems to be speaking directly to their unique life experiences and most secret heart’s desires at every turn. They want sincere solutions to their specific problems – NOT to feel like they’re just part of a numbers game.
The more coaching clients you’re trying to make your brand appealing to, the broader your solutions and services will have to be. OR the more services you’ll have to offer to draw in enough clients. You can’t pack as much meaning into a more ‘general’ coaching package as one that was created with a narrow niche of carefully selected individuals in mind. Nor can you offer several services to target EVERYBODY and expect your products to be on par or superior to those of a coach who has dedicated the time to get inside her clients’ minds.
Thus, by casting a wide net, you’re limiting your potential as a coach. You’re robbing the clients you do manage to land of the truly revolutionary, life-changing experience they seek, and you’re costing yourself the higher-frequency, abundance mindset clients you’ve been longing for.
Are you ready to start coaching your dream clientele?
You just discovered why it so important to narrow down your niche. Now, learn how!
Join my online class to learn how develop the perfect niche for your passion, as well as how to conduct market research and develop content that will actually reach it. Discover how to Leverage your Expertise, Expand your Reach™ and go from ‘entry-level entrepreneur’ to the owner of an impactful, passion-driven business that changes lives: learn more about my online course.