STARTING AN IT CONSULTING BUSINESS Helpful information to read.
Five essential steps for setting
yourself apart and building a coaching business that works best for you!
As someone who wants to start their
own coaching business, you’ve probably already discovered no shortage of
“wisdom” on how best to go about it. With the endless resources of the web,
everything is available if you have time to do the research and (more
importantly) discern between what you should listen to and what you should
ignore.
The process can feel overwhelming.
So in this post, I’ve compiled an essential five-step business startup
checklist. You’ll also find bonus information containing the often-overlooked
odds and ends that can save valuable time and money when starting your life
coaching business.
Step I: Establish your niche
I’ll be the first to admit:
marketing generalized coaching services can be a real struggle. To begin with,
you’re selling an intangible product – a future outcome. This means you need to
highlight visible aspects of your client’s current situation, which in this
case is the problem they have that requires fixing. Otherwise known as the
top-of-mind problem, this is the issue that haunts them to the point where
they’re motivated to invest in a solution.
The tools of coaching can be applied
to almost any context – career, business, health, relationships and life
purpose to name just a few. To gain clients and permanently secure them in your
roster you have to specialize in solving specific problems.
Don’t worry if this feels confining.
Once you’re up and running you can always expand your services and your client
base. Start by trusting that the variety will be there for you. Then get
specific in your marketing by focusing on establishing yourself as the go-to
coach for those with a specific set of problems.
Establishing your niche is the first
step toward creating a successful coaching business. With that complete, the
remaining four core components will fall neatly into place.
Step 2: Claim your coaching business
name
Deciding on a name can be a daunting
task. A quick Google search will lead you to believe all the good ones are
taken. But that’s far from the truth. Because no matter how clever the domain
names appear to be, none of them capture you as an individual or the unique
aspects of your service.
Unless you’re planning on starting a
coaching firm, your clients are ultimately buying a relationship with you. So
consider using your own name or a specific nickname for your coaching business.
Not only will this pair a strong visual association with your services (your
smiling face!), it also very clearly establishes you as the brand.
One of the reasons I love using my
name is that it builds top-of-mind awareness, keeping ME front and center with
current and future clients alike. It also gives me the freedom to add programs,
products and even change the type of coaching I offer without having to re-imagine
a completely new brand identity.
A final benefit to using your own
name is that it simplifies the purchase of a URL for your website. If your
exact name isn’t available, don’t get discouraged. Try alternatives. For
example, James Brown might not be available, but James.p.Brown or
JamesBrownCoaching might be. Then if you ever start your own coaching firm, you
can call it “Your Name & Associates.”
If you’d rather have a business name
that doesn’t incorporate some form of your name, create one that speaks to the
solutions you offer. For example, one of our graduates at Coach Training World
created the name “Peaceful Solutions” to reflect her conflict resolution and
communication coaching for divorcing parents. The idea here is that your
business name speaks to your ideal client and the solutions they are seeking.
Still seeking ideas? Try the
business name generator. Or better yet hire a coach who can elicit your
creative juices so you’ll have the perfect business name for you!
A coach training pathway with your
needs and desired outcome in mind.
At Coach Training World, you can
train to become a professional coach, earn your ICF credential and start your
own coaching business or career.
Download our “Get Started Informational Kit”
and learn what it takes to become a successful coach. You’ll also receiver free
coach trainings and invites to our weekly free webinars!
Step 3: Identify your preferred
coaching business structure
In the United States
Sole Proprietorship
Limited Liability Company (LLC)
Cooperative
Corporation
Partnership
S Corporation
Each offers a variety of legal
protections and comes with a range of different tax obligations. The U.S.
In addition, one of our graduates
(who is a CPA and small business coach) offers some insider tips on the pros
and cons of the most popular business structure options for coaches. As you
watch Ana, keep in mind the two most important details when choosing your
structure: legal liability and taxation.
Step 4: Choose how you will offer
your coaching services
Coaches love to work with their
clients in person. After all, we are relationship-oriented people. But the
option of web connectivity provides a broader reach and more convenience, both
for the coach and their clients.
This takes us to another decision in
the process: should you get an office or work from home?
Coaching from an office
The decision to invest in a physical
office really depends on your preferences and your budget. Having an office can
feel really good. It gives your services a professional appearance, especially
if you plan on offering group coaching or workshops.
If you don’t need the space
full-time, you may be able to sublet or rent it to other coaches if your lease
allows. This is one way many coaches subsidize their office space when they’re
just starting out. As their practice grows and they need the space more often,
they simply scale back on the subletting. Craigslist.org is a great place to
find such opportunities within your area.
One potential drawback to keep in
mind: A physical office requires separate phone services, high-speed web
access, and utilities. These services can add up quickly depending on your
location. But there are also a number of offices you can rent by the hour.
Day offices like ShareDesk and
Davinci provide a complete office setup and include all the necessary business
amenities (some even come with a live lobby greeter). Prices start between $10
and $60 per hour, with day rates from $30 to $300. On-demand work spaces can be
booked online and offer a variety of unique office settings, from individual
work stations to full conference rooms and office suites. They’re another great
way to get started without a ton of expense.
Coaching from home
In contrast, working from home has
its own set of rewards. I love it! And the pros are obvious:
No commute
No time wasted sitting in traffic
Take breaks whenever you want
Work odd hours without sacrificing
time away from family and loved ones
Eat and cook at home (staying
healthy by avoiding the temptation of fast food)
One potential drawback to keep in mind:
If you end up working at home, you’ll need to find a way to separate your
business from the rest of your life. This includes kids, dogs, and household
distractions such as laundry, yard work, and the siren song of the
refrigerator.
When setting up a home office,
establish a place that makes boundaries clear and enables you to easily avoid
the distractions and temptations that threaten to keep you from focusing on
your clients. Also, consider how comfortable you feel having people over. How
easy will it be to constantly maintain a clean and private environment?
That said, if you plan on coaching
clients primarily on the phone or online, a home office might be the way to go.
My favorite setup is a
self-contained office located on the property – similar to a guest house or
bungalow. It’s in a separate area from the main house so it feels more
professional but also offers the convenience of proximity. It’s the best of
both worlds.
Another version of this setup is a
separate entrance into a private area of your home. But honestly, when you
start packing in the clients, a separate office or location is really the way
to go. And if you haven’t noticed the number of coaches working out of coffee
shops, pay attention to who’s around you the next time you’re in one!
Step 5: Choosing the right equipment
and online platform for your coaching business
With your ideal space chosen, the
final core component is to furnish it with the tools of the coaching trade.
Most coaches need a good phone and a headset for phone coaching. And that’s
about it! I recommend a landline with a wireless headset. Although a good
noise-cancelling headset and your cell phone might do just as well.
Before buying equipment, consider
where you’ll be coaching from. To give you an example, I’ve coached while
traveling, using my cell and a laptop computer from as far as Indonesia
Skype is one of the most popular
platforms for offering coaching services. It’s free for most people, easy to
use, and accessible anywhere and on a variety of devices, including smartphones
and tablets. If you intend on using Skype, ensure that you have a strong
Internet connection.
It might also be worthwhile to
invest in another virtual meeting space that, for a small fee, will give you
more reliable service. Popular examples include Google Hangouts (free for up to
10 participants; .
If you decide to do group coaching,
you’ll definitely want an online meeting/seminar service like WebEx or
GoToMeeting. These platforms offer additional options and enhanced features for
leading groups and managing participants.
BONUS: Loose Ends – What else should
you be thinking of?
Starting a life coaching business is
similar to any other enterprise: there are a number of components that minimize
cost, organize your process, and ensure success.
Among the most common, you’ll find:
Liability insurance. Depending on
your risk tolerance and the type of coaching you plan on offering, you might
want to look into liability insurance for life coaches. As a certified life
coach, holding either an ICF or BCC Credential, you’ll qualify for discounted
rates on this type of policy with many insurance companies. Start by comparing
premiums directly through the ICF.
Client organization tools. For those
who like to stay super organized and have a streamlined system in place,
explore online platforms that minimize your administrative duties. This can
include everything from letting clients self-book their appointments to
managing your billing, record keeping, CRM, appointment reminders, and the
hosting of client information and session data. Popular platforms include:
Taxes, write-offs and quarterly
estimated taxes. You can begin writing off your business expenses once you’ve
officially opened the doors to your business. But be aware: there are a few exceptions.
Professional services. This isn’t
just for coaches. It’s for anyone starting their business. Create your dream
support team in advance to avoid stress and unwelcome surprises. This typically
includes resources for legal advice, accounting and taxes. Also, hiring a
seasoned marketing coach is never a bad investment. It could save you hundreds
of hours and thousands of wasted dollars. Depending on your marketing skills,
you may also require a graphic artist, web developer and copywriter to help brand
your services.
Don’t go it alone
The above topics represent broad
considerations for starting your life coaching business. But as you integrate
the specifics of your chosen niche, you may have questions or need additional
guidance to ensure you take the most direct and economical path forward.
Coach Training World offers two
business courses for coaches: Live & Brand Your Brilliance and CONVERT:
From Clarity & Confidence to Clients. They are included free with our Whole
Person Certified Coach Training (WPCC) Certification package but can also be
taken independently. Within each, you’ll find a comprehensive series of
strategy, tools and business resources that can simplify the often frustrating
process of establishing and promoting a new coaching business.
Contact us to learn more about how
you can become a successful coach and start your coaching business this year!
Learn more about our coach training
programs in this webinar:
free coach training webinar
Most life coaches working with
individuals charge about $200 to $1,000 per month for a 30- to 60-minute call
three or four times a month. Executive coaches charge more and typically work
with their clients for two hours a month. It all works about to
about $100 to $300 per hour.
To earn an ICF Credential,
a coach must:
1.
Complete coach-specific training
that meets ICF's standards.
2.
Achieve a designated number of
coaching experience hours.
3.
Partner with a Mentor Coach.
4.
Demonstrate appropriate
understanding and mastery of the ICF definition of coaching, Code of Ethics and
Core Competencies.
How to Get
Coaching Clients: Three Ways
Have You Ever Wondered How to Get
Coaching Clients? After Reading This Article Clients Will be Coming to
You
How do you get more life coaching business?
It would be great to know how to get coaching clients to
call you, and maybe even pursue you in earnest to obtain your product or
service. It sounds like a dream, because most potential customers come
with their arms crossed, as if to say, “I’m just looking and I don’t want to
buy anything.” Then we set out on hot pursuit by phoning them right back,
or emailing them within ten minutes, trying to entice prospects to buy.
We end up seeming too eager or desperate. But what if there was a way to
play ‘hard to get’ with our life coaching business.
Clients might let their guard down, changing the whole dynamic. Here are
three ways that demonstrate how to get coaching clients,
without chasing them:
Watch Your Life Coaching Business Grow
By Playing Hard to Get With Prospective Clients
Tip #1: How to Get
Coaching Clients to Contact You Before It’s Too
Late
Creating time limits on offers help
people take action. Even when your life coaching
business is slower than you would like, you create
urgency in your scripting. For example you might say, “I’ve only got a
few open slots this month, if you want to take advantage of this offer make
sure you contact me by the 15th.” There is nothing more valuable than a
commodity that’s about to expire.
Tip #2: How to Get Coaching
Clients to Contact You Before There Isn’t Any Left
Similar to the first tip, another way to
promote your life coaching business without chasing your clients is
to offer a limited supply. “I have 5 free session slots available, and
they will be scheduled on a first come basis” or “I only coaching 20 people per
month, and I have 3 openings left. Do you want to be one of the 3?”
Tip #3: How to Get Coaching
Clients to Contact You So They Have a Chance at Prize
Another way to increase “buzz” around your life
coaching business is to create a competition, jackpot or drawing.
Some people are more excited about the prospect of winning than they are about
the actual prize.
Use the Tips Above and Stop Wondering
How to Get Coaching Clients, Instead Have Them Knocking at Your Door
They key to successfully increasing
traffic for your life coaching business using these tips on how to get coaching
clients to contact you, is to make sure prospective clients see the
warnings. Most people won’t read your entire message or hear every word
you say, so it’s essential to repeat the offer several times so people don’t
end up feeling jilted. But when you don’t come across as desperate and
prospects wonder whether they will be able to take advantage of your offer, it
helps them think of your product as more valuable. And in doing this, you
will be in a better position to offer your client the services they need.
Colette Seymann
JTS Advisors Designated Accountability
Coach
MCB Life Coaching
Interview with Michael
1- Hello Michael, can you tell us a bit about
yourself?
As far as I can remember, I always wanted to help people. I think that came from a sense of hopelessness. Being homeless for the first nine years of my life due to some of my mother’s decisions, such as drug addiction and dropping out of high school, I have seen how people treated my family and me as 3rd class citizens and I knew I was better than that.
As far as I can remember, I always wanted to help people. I think that came from a sense of hopelessness. Being homeless for the first nine years of my life due to some of my mother’s decisions, such as drug addiction and dropping out of high school, I have seen how people treated my family and me as 3rd class citizens and I knew I was better than that.
One day as we were
commuting from one shelter to the other, my family and I fell asleep on the
train and was awaken by a police officer telling us we had to wake up and get
off of the train; a good Samaritan interjected and asked us if we were hungry.
We all said yes and she took us to a 5-star restaurant. I was amazed at the
ambience and opulence. After we had eaten, she put us up in a 5-star hotel in Manhattan
People like that good
Samaritan is why I do what I do, Why I love people and have so much compassion
and love for so-called “Strangers” I wish I had her phone number to tell her
because of what she told us, I went on to not only complete High School but to
Acquire 3 Bachelors Degrees ranging from Entrepreneurship, Accounting to Public
Relations & Marketing with a specialization in International Management; as
well as my Life Coaching Certification from IPEC, which is considered one of
the best Life Coaching schools on the planet. I also intend on acquiring my
Masters In Organizational Management. She made me see myself as more than just
a 3rd class citizen and because of that, I owe her a tremendous debt of
gratitude. I am motivated to change the world for the good and I know I can’t
do it alone. That’s why I Live Coach. It fills me with purpose. To help people
overcome their issues gives me joy.
2- How would you describe “MCB Life Coaching”
in under few words?
In a few words? “Hyper Actualization in action.” What does that mean? It means finding the solution to whatever is ailing you in a short amount of time. We are not psychologists or therapists. We do not wish to provide hourly sessions where we are motivated to keep you coming back. We want you to see real results in real time.
In a few words? “Hyper Actualization in action.” What does that mean? It means finding the solution to whatever is ailing you in a short amount of time. We are not psychologists or therapists. We do not wish to provide hourly sessions where we are motivated to keep you coming back. We want you to see real results in real time.
Hyper Actualization is a patent pending
program which I am confident can and will resolve the problems that stop people
from accomplishing their greatest ambitions.
3- What are your focus areas and why?
If you want a mule to move, do you push it or hang a carrot in front of it? Too often other programs don’t want to help you push, they want you to chase an illusion. MCB Life Coaching is all about real results but we cannot help anyone who does not help themselves.
If you want a mule to move, do you push it or hang a carrot in front of it? Too often other programs don’t want to help you push, they want you to chase an illusion. MCB Life Coaching is all about real results but we cannot help anyone who does not help themselves.
Hyper Actualization is
all about self-actualization and realising goals on your own. All we do is help
you identify that which you do not see or do not wish to see; at times it can
be very painful and I would not recommend this program to anyone who is not
serious about real progress in real time. We focus on the person first, the
obstacle second. Once we understand the person, the obstacle is easy to
identify. Too often we ignore the obvious. It can be staring you in the face
for years and you can actually grow used to it. Some people prefer to keep
certain negative energies in their lives, which may be a good thing if in fact
it makes them better, but by the time they seek our help, it’s usually because
it is causing more bad than good.
4- Where do you think you are making an
impact?
We make an impact with people who can identify that there is something holding them back. Again, we can only help people who help themselves. We think our greatest impact is in our community.
We make an impact with people who can identify that there is something holding them back. Again, we can only help people who help themselves. We think our greatest impact is in our community.
We work with all
people, from all walks of life but our specialisation is with Women. Why Women?
As a child, Women always surrounded me. Over 90 percent of my family is and
were Women. I like to think I understand them on an instinctual level and now I
strive to understand them on a psychological and spiritual one.
I personally adore
Women and MCB Life Coaching is all about not only empowering people but Women
in particular. There is still so much injustice that Women have to deal with.
We strive to encourage and understand Women. We have been quite successful, as
we have managed to secure a diverse portfolio of Women of all ages, backgrounds
and nationalities.
5- What are some things that most people don’t
know about your job?
One day I scheduled an appointment with a new client. She insisted on meeting in person, though I prefer to work on the phone I obliged. Once meeting her, we began to talk and I started to ask her questions to get a better understanding of her concerns and goals. Over time, we became really close and now we talk almost every day. Most people are not aware that a life coach is someone who is not only interested in helping you to become the best version of yourself, but also someone who is always on call. If my clients need me, I will find a way to make time. Life coaches develop strategies and plans for clients. We keep records of the progress, meet with and evaluate them. We also adjust clients goal strategies as needed.
One day I scheduled an appointment with a new client. She insisted on meeting in person, though I prefer to work on the phone I obliged. Once meeting her, we began to talk and I started to ask her questions to get a better understanding of her concerns and goals. Over time, we became really close and now we talk almost every day. Most people are not aware that a life coach is someone who is not only interested in helping you to become the best version of yourself, but also someone who is always on call. If my clients need me, I will find a way to make time. Life coaches develop strategies and plans for clients. We keep records of the progress, meet with and evaluate them. We also adjust clients goal strategies as needed.
6- The coaching world is changing very
quickly, where do you see yourself in the next 5 years?
Very true, the coach industry is evolving and doing so quite quickly. I see MCB Life Coaching becoming one of the world premier coaching sites. Our goal is to get the word out about who we are, why we are and what we can do to help people accomplish their goals. We intend on having physical locations all over the U.S as well as other countries such as theUnited
Kingdom , France ,
Brazil , United Arab Emirates and South Africa
Very true, the coach industry is evolving and doing so quite quickly. I see MCB Life Coaching becoming one of the world premier coaching sites. Our goal is to get the word out about who we are, why we are and what we can do to help people accomplish their goals. We intend on having physical locations all over the U.S as well as other countries such as the
7- What were some of the biggest challenges
you encountered while working on “MCB Life Coaching”?
There has been many over the years, but there is one particular situation that comes to mind. When I had first started life coaching, I was under the impression that life coaching was about fixing people, now I know better; life coaching is about identifying what holds people back from accomplishing their greatest goals. One of my first clients was a trial lawyer and was looking for a coach to help him improve his productivity. I made the mistake of judging his profession, instead of helping him become more productive. We had a falling out but once I realised with more training I was wrong, I apologised and he graciously accepted. He is still a client of mine to this day.
There has been many over the years, but there is one particular situation that comes to mind. When I had first started life coaching, I was under the impression that life coaching was about fixing people, now I know better; life coaching is about identifying what holds people back from accomplishing their greatest goals. One of my first clients was a trial lawyer and was looking for a coach to help him improve his productivity. I made the mistake of judging his profession, instead of helping him become more productive. We had a falling out but once I realised with more training I was wrong, I apologised and he graciously accepted. He is still a client of mine to this day.
8- What are you most excited about at the
moment?
Getting Hyper Actualization fully patented. Hyper Actualization is a philosophy of sorts; the patent is currently pending and I am so excited about the potential of it. It is very simple, getting to the best version of yourself in the fastest time possible. We at MCB are not trying to have our clients dependent on us; we want them to be fully autonomous in the shortest time possible.
Getting Hyper Actualization fully patented. Hyper Actualization is a philosophy of sorts; the patent is currently pending and I am so excited about the potential of it. It is very simple, getting to the best version of yourself in the fastest time possible. We at MCB are not trying to have our clients dependent on us; we want them to be fully autonomous in the shortest time possible.
9- What can you tell to young Entrepreneurs
that are about to start?
I tell them that this is a tough business and that if they hope to have any staying power, they should find a great company and work there to gain some much-needed experience. This is not a business that you should join for financial gain. It is a business where you have to love people and truly have the patience to help others.
I tell them that this is a tough business and that if they hope to have any staying power, they should find a great company and work there to gain some much-needed experience. This is not a business that you should join for financial gain. It is a business where you have to love people and truly have the patience to help others.
10- A last Word or
final thoughts?
Yes, I want to thank you for conducting this interview. I know you have other pressing business yet you took the time to showcase MCB Life Coaching which can be found at www.MCBLifeCoaching.com and our facebook page at https://www.facebook.com/MCBLifeCoaching/.
To the readers, I hope you take the time to check out the sites. We at MCB are dedicated to helping you identify what is affecting you from accomplishing your goals. Give us a try and I am confident you will not be disappoint
Yes, I want to thank you for conducting this interview. I know you have other pressing business yet you took the time to showcase MCB Life Coaching which can be found at www.MCBLifeCoaching.com and our facebook page at https://www.facebook.com/MCBLifeCoaching/.
To the readers, I hope you take the time to check out the sites. We at MCB are dedicated to helping you identify what is affecting you from accomplishing your goals. Give us a try and I am confident you will not be disappoint
