Four Steps to Solve the Coach’s Conundrum

May 29th, 2007

From the Wisdom Vault

Many coaches find themselves stuck in a time and money conundrum.

Does this sound familiar?
- You are a natural coach and love this work!
- You’ve held onto your part or full-time job thinking that once you have “enough” clients, you’ll leave it.
- But you’ve realized that attracting a pipeline of coaching clients takes tremendous time.
- Once you have a few clients on board, it’s difficult to find time to market for more.
- So, you stop marketing or market only cyclically until your first few clients “graduate” and then it feels like you’re starting over.
- You’re no closer to quitting your job because there is still not enough income from coaching to justify it.

This catch-22 is a poignant problem for coaches. Somehow, sometime the cycle must be broken to achieve what you really want — to be a financially successful coach.

Even if you are in a different place than this you may recognize that your coaching business needs more dedicated time to thrive.

Reality Check

It’s hard to admit it, but the reality is that staying in that job or continuing in the same vein will indefinitely postpone financial success as a coach.

Part of the problem is that there’s a myth that a new coach can build their coaching income up to a level close to their current salary before quitting their job. It’s a losing proposition that few other service professionals would ever attempt.

When I talk to coaches I hear that their time is scheduled so tightly with their current job and/or other obligations that even a foundational project like launching a website and ezine is difficult to achieve. And meanwhile, the tension keeps building between the reality they are living and the life they want.

The majority of new coaches I know are caught in this conundrum. Some are jeopardizing their health to work essentially two full time jobs. It’s difficult to model balance and choice for their clients, and months go by while a feeling of failure creeps in.

So, how do coaches move past this conundrum?

The most direct way to help a coaching business soar is to fully fund it with enough time and money from the get go.

Dig Deep to Find Reserves

Building a successful business takes a bit of sacrifice and a lot of trust. If you want it enough, you’ll dig in and find the way to make it happen. One day soon you’ll look back and be very glad you made those sacrifices (like quitting your job) because you’ll be rich with coaching experiences and income.

Start here:
1. Let go of the pressure and myth that you can build your coaching business on the side.
2. Look for creative ways you can save money and start socking it away.
3. Reduce obligations and clear time for your business. Be ruthless about this. Tend to your business like you would a baby.
4. Look for energy drains of all sorts and eliminate them.
5. Set up a transition plan to leave your job.

Give your business the life blood it needs to thrive — enough dedicated time.

More resources on this topic are available to Prosperous Coach Members.

Become a Prosperous Coach member Today!

Rhonda Hess
Founder, Prosperous Coach

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