Is coaching, as a profession, still a worthy pursuit?
I am known by many online as the Coach's Coach, most likely because most of my clients are coaches. I get a lot of feedback on the topic of coaching as a profession.
Here is some of what I have been told over the past year:
• Coaching strategies that made money previously are not delivering the desired results.
• Products, especially those involving digital content, are not selling as well as before.
• Live calls, like Q&A calls, group coaching calls, or live trainings, are not filling up like they used to.
• Office hours calls are not attracting interest like they did in previous years.
• For many, even individual coaching sessions are not attracting clients to some extent.
Is all of this because money is tight? Is it uncertainty in every-day life? Perhaps the market is saturated with too many coaches. Maybe potential clients are experiencing too much poor quality content and less capable coaching.
Are mix-and-match or asynchronous options the answer as one well-known coach suggests? Membership programs still seem like a good option. Perhaps it is time for coaches to get certified or to hire a coach, guide, or mentor of their own. As someone who works with coaches who are still doing well, I know all of this can help.
However, it is about getting the right help so you can:
• Increase Your Immediate and Recurring Revenue:
A coach can analyze your pricing, identify untapped revenue streams, and help implement strategies to attract high-value clients. They can also guide you in creating recurring income through subscription models, retainer services, or online courses, ensuring a steady and predictable income flow.
• Make Sure You Are Not Burning Yourself Out:
Burnout is a common challenge for coaches. A mentor helps you set realistic boundaries, prioritize self-care, and streamline your workload. They can teach you to delegate, automate repetitive tasks, and manage your time effectively, ensuring that your energy remains sustainable for long-term success.
• Ensure You Have the Ongoing Support You Need:
No coach should work in isolation. A mentor can connect you with resources, peer networks, and support systems. They might recommend tools for client management or introduce you to other professionals who can provide complementary services, such as marketing or financial planning.
• Create or Revitalize a Membership Program:
Membership programs offer a way to build community and consistent income. A coach can help design a program that delivers real value, incorporates diverse content formats, and fosters member engagement. They can also guide you in launching, marketing, and scaling your membership effectively.
• Strategize About the Future of Your Business:
Having a clear vision for your business is vital. A mentor can help you define your long-term goals, anticipate industry trends, and create a roadmap for sustainable growth. They can assist in pivoting your business model or exploring new niches to ensure relevance and profitability.
• Organize and Plan Your Best Year Yet:
Effective planning is crucial for achieving success. A coach can guide you in setting actionable goals, breaking them into manageable steps, and tracking progress. They will help you align your priorities with your vision, ensuring each quarter builds on the last toward your larger objectives.
• Refine Your Unique Value Proposition:
A coach can help clarify what makes you stand out in a crowded market, ensuring your messaging resonates with your ideal clients and differentiates you from competitors.
• Master Marketing and Lead Generation:
From social media strategies to email campaigns, a mentor can teach you how to effectively attract and convert leads, ensuring a steady flow of new clients for your business.
• Develop Your Signature Program or Offer:
A guide can help you design a flagship program or service that represents your expertise, commands premium pricing, and builds your authority in your niche.
• Improve Your Confidence and Presentation Skills:
Public speaking, webinars, and video content are crucial for many coaches. A mentor can help you polish your delivery, overcome fears, and engage audiences authentically and effectively.
So, what does all this mean?
It is my considered opinion, based on decades of experience, and backed up by my observations of coaches who are doing it right, that coaching is not only still a worthy profession, it will continue to be so, both financially and self-fulfilling, well into the future.
Most of the reasons I mentioned above, tight money, every-day uncertainty, saturated markets, poor quality, and limited capability, are actually reasons that support an on-going and expanding coaching field -- at least for those who are willing to make a serious commitment!
As I often say, "The time to hire your guide is before you get lost in the woods!"
Subscribe to get the latest posts sent to your email.