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The Journey of Success In Your Coaching Business

written bySandi Amorimon 06/09/2012

In the beginning, there's your enthusiasm for coaching and your desire to make a difference. You've probably read the books and heard the rallying cry of "Do what you love and the money will follow!" But here's the thing no one talks about - Passion will only get you so far.

I know that may sound a bit blasphemous in the coaching world of vision and possibility, but therein lies the challenge. In the discomfort awaits a new way of being that will lead to having what you most want - a thriving coaching business.  

Being passionate about the work you do is only one step on the journey of success. This was highlighted in a recent study done by www.coachboxhq.com. The results showed that out of 253 coaches surveyed, only 8.5% were happy with the financial success of their business. As a 10+ year veteran of the coaching profession, that number didn't surprise me.  

So if passion is just one part, what are the missing pieces that make the road to success more probable and sustainable, so that you can do what you love for the long term? 

5 Steps on the Journey of Success

1. Create a Powerful Vision

You know the power of a strong vision, but when you get down to the basics of day-to-day business, do you actually know what you want? How many hours do you want to work? How much income will the business bring in? Who are your perfect people (ie: ideal clients?) Most importantly, how do you want to feel about each of those details? 

A key component of creating this vision is to let your values be your guide. Your values will let you know when you're on track and taking actions that will make a difference to the growth of your business vs. focusing on busy work that has no impact on the bottom line.  

2. Be Willing to Receive

You’re a giver; it's part of what makes you an awesome coach. There's a strong likelihood that the overall goal for your business is to make the world a better place. That's great until you're challenged by the Great Paradox of growing a coaching business:

  • Until you become willing to receive, you will be greatly limited in how many people you can help.
  • They say it's better to give than to receive, but they're wrong. You have to be equally good at receiving or the people who need your work, the ones you most want to serve, may never hear your message, and in that scenario, nobody wins.

3. Obliterate Your Someday Thinking

Someday thinking is seductive; warm and cozy like a warm bed on a cold morning.

  • Someday I’ll finish my e-book.
  • Someday I’ll create the new offer.
  • Someday I’ll [you fill in the blank].

But here's the truth about someday. It is a fast ride to nowhere. Every single thing you want to do for your life and business begins with a single action. And then another. And another. Action trumps someday thinking every time. What's one action you've been avoiding? Go do that one thing today. I promise you'll feel a surge of energy! 

4. Examine Your ToolKit

Anything is possible with the right tools. So when's the last time you looked in your toolkit? The tools you collected as an employee or student might still be useful, but are they exactly what you need as an entrepreneur? 

Creating a successful coaching business online is very different from creating a brick and mortar business in your neighbourhood. Do you know what it takes, and are you committed to doing the work? It's ok if you're not, just don't expect the money to flow into your PayPal account! Taking a look at what's in your toolkit is a very empowering reality check because you'll see what you've already got, but also what's needed to move forward and create the business you love. 

5. Embrace the Village

The worst thing you can do as a solopreneur is to focus on the solo part! There’s an African proverb that says, “It takes a village to raise a child.” It also takes a village to raise a solopreneur!  

Learn from those who have traveled the path. Choose a mentor who'll share both their knowledge and experience. Give up your attachment to doing it your way. When you surround yourself with the right kind of support, you'll be rewarded with the tools and understanding you need to grow your business. This is what empowerment feels like. 

Over to you: Notice where you are on your journey. Which of these 5 steps will empower your next phase of growth?