By: Louise Yates
Category: Coaching
Each year thousands of well-intentioned hopefuls train, get certified and join the throng of optimistic dreamers hoping to make it as a professional and successful coach. Sadly however within a year of qualifying most coaches fail to earn a fraction of the income they had hoped for and many end their dreams by returning to employment.
So why do most coaches fail to build a sustainable business?
Firstly, sadly to say, one key reason is that they just are not good enough. This doesn’t mean to say they are not good…but just not good enough. Many coaches undergo expensive initial training and then think that is it and don’t invest further. However excellent coaching skills (like any skills) are developed over time with experience and continuous professional development. All coaches should invest in further development and should all have a good coach.
This is just one part of the picture. The primary reason for most coaches failing to ‘make it’ as a coach is that while they have the technical skills to provide a great service for their clients sadly they lack the commercial acumen which will enable them to develop a sound business model which will give them the financial rewards they need to sustain themselves.
Many coaches shun the commercial side to coaching focusing only on developing their technical coaching skills and tools, only to find that they are unable to secure the clients they need.
This lack of commercial acumen encompasses a number of areas:
So in summary if you want to develop a successful business you need to continually work on your own professional development but more importantly develop your commercial skills.
Louise Yates knows how to build a coaching business from her experience running a performance coaching enterprise. She has also written extensively about effective coaching models.
Article Source: Why Most Coaches Fail To Build A Sustainable Business
