7 Things Everyone Gets Wrong About Online Business Coaches in 2021
As of 2018, the Personal Coaching industry is worth $1 Billion in the US alone. According to the International Coaching Federation, there are 53,300 coaches worldwide earning between $27,100- $73,100 annually with a median income of $50,000. Some coaches earn seven figures per year. Why is it that still most coaches struggle to make their living?
Maybe because every other coach thinks it’s an easy walk.
They said, “Being an online coach can be easy.” You only need to work a few hours per day. Post to Instagram, and people will come running to you!” – they said.
Just to disappoint yourself and finding out that it’s not as simple as it sounds.
It doesn’t matter if you coach professionally or personally; it’s a noble profession. Coaching helps people overcome challenges and reach their goals. This sounds like a job that will bring you great satisfaction. Sometimes, however, coaches have trouble finding clients.
Many coaches are frustrated by this frustration. The task of finding and converting people to buy from you seems a daunting task.
You might have experienced this:
- Are you frustrated by the time spent building relationships with people who haven’t converted into clients?
- You might consider packing coaching sessions, as clients seem to be at the end of the rainbow.
This is a problem many coaches have to deal with. But before you doubt yourself, ask this “am I a bad coach or do I need to fix my methods?”
Some coaches are amazing, but they didn’t get paid because they were unable to find clients. You are the reason that you aren’t getting clients. Don’t worry; there are still clients for you.
You are the problem.
But the good news is! I will highlight the pain points of online business coaches that will help you rethink your strategy to attract more paying clients.
Choosing the Perfect Niche
It’s admirable that you want to help as many people as possible, but a business coach who sets out to help all people will not succeed. It is essential to pick a niche that you are an expert in.
Great coaches are more like a “guide on a side” than a “sage at the stage.” Substantial questions lead to breakthroughs. It is essential to be credible in the area where a coach focuses. You would be skeptical if you saw a financial advisor who is himself struggling to make ends meet and doesn’t have his own money in the right place.
A coach who has been divorced three times shouldn’t be helping to build strong relationships. Prospective clients want someone who can empathize with them and has a track record of achieving the things they desire – more wealth, better business growth, blissful marriages, etc.
So ensure picking up a niche that you are knowledgeable about and can talk incessantly if asked from any angle.
Identifying the Target Audience
After deciding what type of coaching you wish to offer, it is time to find the right audience for your services. Your online business‘ success depends on finding the right clients. It is easy to identify your target audience. Begin by identifying your top competitors. They have spent time and money finding the proven buyer personas.
It would be best to detail who your target audience is and who you want to attract, such as gender, age, marital status, employment status, location, paying capacity and many more other behaviours.
Having a Poor Marketing Strategy
Marketing stays one of the vital part of any business to survive, and no one can deny it. Many emerging companies still view marketing as something they will do later, maybe when they have more money.
However, marketing starts before the actual product launch to create the buzz so that once the product is out, the customers know the next step. Startups or businesses who miss out on this step often fail to acquire customers or, at worst, shut down after a couple of years.
Learn about marketing, develop a strategy for your business or hire a professional to do it. Build a website, attend networking events, get on social media, learn about SEO. There are multiple marketing strategies you can try without spending a lot of money. The trick is to choose the one that suits your business best.
Not Addressing the Pain, Outcome and Gap
People don’t sign-up or give money to weak ideas. People give money to ensure clear and solid outcomes. You might be thinking that you are providing a great offer but for your clients. It could be unclear.
Although you can be a horrible coach, you’ll make a lot of money if your marketing is compelling.
It all comes down to the offer and how you present it by addressing the pain of your desired audiences.
Here’s an example:
The seven steps guide to lose weight in 8 weeks
Guide to weight loss
Which would you choose to attract more interest?
It may not be what you want, but it will be the first.
Because people want to solve a significant problem quickly and decisively. First, the goals and time frames are clear; then, you must deliver it, but, as with all personal fitness training, the outcome depends on the client.
If you have a committed client willing to do what it takes, your guide must lead them to the desired outcome with your expertise. Never deceive a client just for the money, especially in the health industry when someone is risking their health by listening to you.
No System to Maximize the Growth
Even the highest-paid coaches don’t always have the best technical skills. I don’t mean to be negative; you must get clients great results, but that’s just part of the equation.
Begin by attracting the clients you are most passionate about working with. It is essential to have a process and system that allows clients to come to you rather than chase them.
Converting your leads into clients is what most coaches struggle to do. One conversion event can turn into a million-dollar company.
You will want to club your expertise with some system like email marketing; for example, if you connect with your client online, you will slowly keep nurturing them by providing valuable content until they finally convert.
Deliver your coaching in a way that you get the best results for your clients, minimize the time spent so that you can scale your business, create the lifestyle you desire, and maximize your profits. Take the help of digital solutions for small businesses to achieve the desired result.
Scaling the Operations
You are supposed to do everything when you run your own business. Coaching the clients is just not enough. You also need to manage the finances and marketing of your business. It can be hard to keep your time afloat with all of this.
To overcome this problem, take the help of some business management software that can automate repetitive tasks like appointment reminders, invoicing, and sending newsletters. It will enable you to focus on your business and reduce the administrative burden.
Or else, hire someone to do the work for you.
At Vervology, we take the digital burden off of our clients and manage all the complex tasks from strategy to content creation.
Not Believing in Yourself
You must identify your strengths and personal skills as a coach then present them confidently. Online business coaches often compare themselves to others and try to coach clients in a way that isn’t right for them. Clients will always know if you are trying to be someone, you are not. Find a style that suits you and believes in it.
Your business will not reach to its full potential if you don’t have the proper marketing and awareness strategy for your target audience.
It is always better to look into your current strategy and mould it as per your desired clients that will be most beneficial to them. It should solve their problem and pain points in a big way.
Try Vervology Digital Solutions to Fix these Pain Points and More