Life coaches go into business to make the world a better place. They want to empower people to live the life they’ve envisioned. However, many get stumped on how to build a successful life coach business. Building a thriving practice takes more than passion and fire; it takes skill vision, openness, exploration, and continuous evolution.
Learn Basic Business Skills
As a corporate employee and consultant, my skills usually exceeded the requirements for my position. If I served as a scrum master, I didn’t have to serve as a project manager or a business analyst. In fact, doing so could confuse team roles. To have a successful life coach business, amping up your skills is critical for two critical reasons: budget and your stakes in the game.
If succeeding in business only required passion and purpose, then small business five-year survival rate would be success rates would be greater than 50%. Some essential skills include financial management, strategy, marketing, sales, planning, and leadership. Of course, as a business owner, you won’t have the expertise (or time) to do everything yourself; however, having business savvy is critical to success.
OWN Your Business
Know why you went into business and have a big enough WHY to keep you engaged. Your company is built on your vision, mission, guiding principles, and goals. Know what you want and learn how to communicate it. A small business success coach or consultant can help you with breaking up your goals and implementing strategy. You will meet well-intended people that may recommend changes to your foundation; it will lead you down the road of anxiety, uncertainty, and confusion.
Become an Explorer
The biggest risk to your business success as a life coach is your expert mind. It shuts down your ability to uncover gems. As you get to know your business domain:
- Ask open-ended questions
- Welcome change
- Embrace changes
- Respect and listen to those you want to serve
- Turn mistakes into opportunities
- Ask why
Measure, Know What You’re Measuring, and Know Why You Measure It
While starting a business includes a risk-taking element, the risk does not equate to reckless behavior. Know what you are trying to achieve. If you can’t measure and monitor it, then you are hoping for the best. And if your success is based mainly on hope, then you have a bad business model. Having a successful life coach business takes work.
Be Your Best Client
Starting a purposeful business brings up all kinds of emotions and insecurities. It also helps you connect with your clients. Your life coaching tools will help you through the startup process. It reminds you of your own vulnerabilities, and it gives you another element of authenticity your clients will appreciate.
A Successful Life Coach Business Is Built One Decision at a Time
Don’t get caught up in buzzwords or the perceived prestige of being a business owner. The road to entrepreneurial success can be lonely. It’s the secret that novices do not want to share. Trust in your dream as a life coach and build a thriving business one strategic decision at a time.