Are you thinking about launching a coaching business but feeling overwhelmed by the process? Look no further than these tips from experienced coach and marketing expert Joanna Lott. Here are some of Joanna’s top tips:
- Invest in your business coaching skills. While getting a coaching qualification is helpful, it’s not necessary. However, learning marketing and sales skills is crucial for success in the industry. Consider investing in a coach or program that specialises in these areas.
- Niching down can lead to higher earnings. Instead of trying to appeal to everyone, focus on a specific group of people and tailor your services to their needs. This can help you create a signature coaching package that delivers greater value to your clients and enables you to charge higher prices.
- Sell packages instead of charging per session. This not only simplifies the payment process but also emphasises the value of the transformation the client will experience over time.
- Find effective ways to market yourself. Whether through social media, public speaking, or networking, be clear about what you do and find ways to showcase your expertise and personality.
- Seek out experts and collaborate with other coaches. The coaching community is collaborative, and coaches often recommend and support each other. Don’t be afraid to reach out for help and advice.
By following these tips, you can launch and grow a successful coaching business like Joanna’s clients. Remember, investing in your skills and marketing yourself effectively are key to standing out in the industry.
For more top tips about launching and growing your coaching business, check out this LinkedIn Live replay with Joanna, where we discussed why launching a coaching business is easier than you think. Watch here.
Timestamps:
Who would be best suited to be a coach? [00:01:21] Joanna explains that people who have had coaching themselves and have gone on a transformational journey to discover the power of coaching are best suited to be a coach.
Cost of launching a coaching business [00:02:21] Joanna explains that launching a coaching business is low-cost compared to other businesses, but investing in business-coaching skills is important for success.
How to price coaching services [00:06:14] The guest recommends not charging per session but selling packages of 3 to 6 months, pricing based on the transformation the client will experience.
Success Stories [00:08:11] Joanna shares two success stories of individuals who transformed their coaching businesses with her help, including a coach who increased her hourly rate from £50 to £1000 and a leadership coach who gained clients through TikTok.
Effective Marketing Strategies [00:12:34] Joanna shares effective, low-cost marketing strategies for coaches starting out, including being clear about what you do, utilising social media, and finding ways to get in front of people with your message.
Challenges for New Coaches [00:14:11] Joanna discusses common challenges faced by new coaches, including being visible, feeling lonely, and struggling with shiny object syndrome, and emphasises the importance of having a structured plan and a coach to guide you.
Who should consider coaching? [00:00:00] Joanna and Liz discuss who would be best suited to be a coach.
Investing in business coaching skills [00:10:20] The importance of investing in business coaching skills and the value of having a coach.
Success stories of transformed coaching businesses [00:16:48] Joanna shares success stories of individuals who have transformed their coaching businesses with her help.