Over the last decade, as we’ve coached and trained thousands of business coaches from around the world, we’ve discovered three keys that fast-track success in business coaching.
These “keys” are really mindsets you can adopt, habits you can develop, and principles you can use as filters for decision-making as you embark on this amazing journey called business coaching.
So, whether you’re a beginning business coach just starting out, or an experienced veteran who needs a refresher, buckle up!
Timeless vs. Trendy
I see huge differences in success from business coaches who focus on the latest trendy fads in the business coaching industry, rather than those who master the timeless fundamentals of business coaching.
Don’t be tempted to look around for quick, just-add-water methods for getting clients and cash flow in a hurry. Our experience has been that almost all of these “instant cures” are ignoring or not disclosing something important.
The simple truth is that nothing worth doing can be done instantly. If it sounds quick and easy, run from it like a disease, because quick and easy just doesn’t work. You’ve got to be ready to put in the time and effort.
Earning vs. Learning
The journey you’re about to embark on as a business coach will demand that you do a lot of learning over the next few years. But don’t become so fixated on everything you’re learning that you never get on with actually earning by applying what you’ve learned to win and serve clients.
Many prospective business coaches conduct due diligence for months before entering our industry. In the process they can fall into the old “paralysis of analysis” where they spend so much time studying various, and often conflicting approaches to the business that they never actually get out of research mode and into the game.
Many prospective business coaches conduct due diligence for months before entering our industry. In the process they can fall into the old “paralysis of analysis” where they spend so much time studying various, and often conflicting approaches to the business that they never actually get out of research mode and into the game.
You’re always going to have critics and pundits. Don’t allow yourself to be paralyzed by the opinions of people who have never built a business coaching firm or a quality business of their own. There comes a point where you need to choose a mentor or expert to teach you this business over the long haul. Once you make a selection, do your learning and then get on with the earning.
Execution vs. Overwhelm
The volume of material to study and learn as a new business coach can feel like drinking from a firehose. The third key to fast-tracking your success is to avoid the tendency to become overwhelmed by the process in front of you and focus instead on the step-by-step execution of your mission.
I’m going to tell you a fact that’s scary but true. Research has demonstrated that only a very small percentage of business coaching franchisees survive longer than a couple of years. One of the main reasons for ongoing horrific failure rates in business coaching franchises is the complete overwhelm experienced by most coaches, even when using a supposedly well-organized “system” for getting started.
Mark my words: it’s easy to get so overwhelmed as a new coach that you totally fail to execute. Why? Because you have to become very strong, very quickly in a lot of disciplines that affect the operations of small to midsize businesses. If you don’t have a concise and clear roadmap for generating leads, landing clients, and then coaching clients you’ll fail at an execution level.
Overwhelm is so dangerous because it’s the point where you throw your hands up and become totally untethered in the vast ocean of information you’re immersed in.
Fortunately, there’s a way through these minefields. Our ebook, How to Become a Business Coach, helps you set yourself up for fast-track success in this industry. Download it today!
