Last week I shared how “one weak why” isn’t enough to drive your coaching business success…
…and that you needed to build a ‘Purpose Parthenon’, so your coaching business can stand up to any challenge.
Most coaches have trouble inventing more than a few ‘whys’.
The good news?
You don’t have to INVENT your own reasons from scratch…
…just STEAL someone else’s.
There are 3 main reasons you’d want to have a coaching business:
FREEDOM to live life on your terms.
FINANCES so you can live that life in style.
FULFILLMENT that comes with making an impact.
Getting FREEDOM With a Coaching Business
The coaching business brings flexibility, options, and choices in many ways…
You get to choose who you work with in a coaching business.
You don’t have to coach any clients that you don’t want to.
So many careers force you to work with people you’d rather avoid.
In your job, office politics dictates your human connections.
Kissing up to bosses, people with agendas, back-stabbers…
…you have no choice about it.
But in a coaching business…
Don’t like loud people?
Say goodbye to them!
Self-centered people are your kryptonite?
They won’t bother you anymore.
It’s YOUR business.
YOU choose who you surround yourself with.
YOU choose who you surround yourself with.”
You NEVER have to go into the office.
With a coaching business you can work…
- from home
- on the road in your car
- at the park
- at the beach…
…anywhere that you want.
Your office is ANYWHERE and EVERYWHERE you want it to be.
Want to do business in bed today? Go for it.
The result of a ‘no office’ life…?
…you don’t have to live close to any specific location.
You might want to work with clients who live in a rich country…
…then move to a country with a low cost of living where your money goes further.
‘Beautiful Lifestyle’ doesn’t have to mean ‘expensive’.
Live on the cliffs of Salsipuedes (Mexico) for $1K per month.
Live in Portugal for under $1,500 per month.
Live in Panama (like one of my clients) for the same amount.
Or the same in Malaysia… or Thailand.
With modern phone and video communication… a coaching business allows you to work anywhere in the world.
This makes you immune to local economic disasters…
…and gives the flexibility to have a lot more control over your life.
Or maybe you don’t want to live ANYWHERE…
Since you never have to go into the office…
…you can truly join the ‘work anywhere’ movement.
Coaches tell me that they want to travel, but it’s just a concept for them…
What would have to change so you COULD travel?
Where would you like to travel?
How would you feel if you were able to take these trips on a regular basis?
As a coach, you get to choose your own hours.
As a coach, you get to choose your own hours.“
Wrap your coaching business around the life that you want to live…
…not the other way around.
Jeffrey Sooey, the Dean of Master Coach University coaches on Monday and Tuesday… because he chose those days.
I only coach on Tuesday, myself!
We’re both coaches, so we set our own work days and hours.
There’s no “red tape.”
Coaching is unregulated.
In most jurisdictions, anyone can coach.
The lack of regulation in the coaching industry gives YOU the freedom to innovate…
…and be the cutting edge in human performance.
Without the coaching industry, the science of human achievement and fulfillment is held back by a bunch of outdated rules.
In fact, many counselors and therapists start coaching businesses…
…because they want to help clients in their own way…
…rather than following dogma and bureaucracy.
How would a coaching business give YOU freedom?
By quitting a job that you don’t want to do?
By allowing more control over your time?
Ideally, what would you do with that free time?
How would it feel to wake up every day… free?
Getting FINANCIAL Prosperity With a Coaching Business
Do you want financial prosperity?
The coaching business compresses time, so you can accelerate your financial self-sufficiency…
A Coaching business has a very low or no start-up cost.
All you need is a phone and internet connection.
You can be profitable in a coaching business very quickly.
A coach can make money coaching from the first day they start their business.
A coach can make money coaching from the first day they start their business.”
Mary was a brand new coach when she started mentoring with me.
Within 60 days of starting her coaching business, she was able to enroll 4 clients totalling $1,000 a month of extra income.
You don’t have to spend years getting a degree…
…or getting into thousands in student loan debt…
…hoping that three or four years from now… the business will pay off.
You can keep your job while you get started.
Most coaches get started coaching in their spare time (after work or on weekends).
No need to pressure yourself to replace your job income right away.
You can get started with as little as 5 hours per week, like one of my clients, Mervyn.
A school teacher, Mervyn started his coaching business part time.
Then he reduced his teaching hours.
Soon after that he made his coaching business a full-time thing.
You won’t to have to worry about losing your job.
Even if you choose to stay at your job, and just coach part-time…
…it will allow you to have income in case of a sudden job loss.
Too many people spend decades at their job, getting raises, promotions, etc….
…only to get fired or laid off.
Your coaching business frees you from the fear of losing your job since it acts as ‘backup income’.
Gerard (a client of mine) wanted to keep his job, but he also wanted to create an additional income stream.
He grew his coaching business to 14 clients (paying $300 a month).
Then he hired another coach to coach his clients, which freed up his time.
And he did all of this while keeping his regular job.
A coaching business is more financially stable.
A coaching business is more financially stable.“
Usually, it only takes one ‘boss’ to revoke your job, and the income you enjoy.
But in a coaching business, lots of clients would have to fire you ALL AT ONCE to reduce your income to zero.
For instance, If you have 20 clients…
…how many clients would have to “fire” you to eliminate your income?
The answer is: 20 clients!
In this way… a coaching business is more secure than a job…
…because there’s no ‘single point of failure’ to terminate your income.
You get paid what you’re worth.
You can’t get paid what you’re worth at a job.
Because in order for your employer to keep you, you have to make THEM enough money to justify your existence.
Part of your worth at that job…
…will always go to someone else.
That means that you’re always paid LESS than your true worth.
However, in your coaching business, you make 100% of the fees you charge your clients.
No need to give part of that money to a boss…
…because YOU are the boss.
In a coaching business, you can create intellectual assets that generate ongoing income for you.
Everything you create for an employer belongs to them.
If you’re fired, they keep your creations.
In your coaching business, you can build websites, intellectual property, programs, etc. that YOU OWN.
Those assets may continue to pay you, many years after their creation… possibly for the rest of your life.
How do you want YOUR coaching business to give you financial prosperity?
What would you do with that money?
How would that make you feel?
Getting FULFILLMENT With a Coaching Business
Do you want fulfillment in your life?
Clients express true gratitude to you for something they paid you for.
The other day a client sent me this:
“Hey Kris — I wanted to reach out and express my gratitude for yesterday.”
“I had such a huge breakthrough with you and really appreciate you holding space for me to go deeply into what was holding me back.”
“I know that this is going to help me reach the next level — I even heard myself saying really nice things about my success capabilities on my way home last night (and I haven’t even gotten to dig into the exercise fully yet). Thank you so much. ”
What’s extraordinary about that grateful client?
They paid me to run that session for them…
…and yet they STILL thanked me from the bottom of their heart!
Imagine the fulfillment that comes with changing lives like that…
The appreciation your clients will have for those gifts…
…AND you get paid at the same time.
You have additional incentive to “walk your talk” in your life.
As a coach, you automatically become a role model for your clients.
You won’t want to support your clients in taking care of their finances, body, relationship, career, etc., without YOU walking your talk in those areas as well.
In that way, coaching gives you incentive to improve your own life.
A coaching business is the best personal development course you’ll ever take.
A lot of coaches think they have to make their life perfect BEFORE they can coach anyone.
The truth is the opposite chain of events:
You coach clients FIRST…
…and THAT motivates you to get your life together…
…and then you never stop growing.
Coaching provides new challenges and you’ll never get bored.
Your coaching business will never be boring…
…because you’ll constantly face new challenges…
…because every client is different.
Your coaching business will never be boring…because you’ll constantly face new challenges…because every client is different.”
How will your coaching business give YOU fulfillment?
What deeper meaning does it bring to your life?
How would it feel to wake up every day living that depth of fulfillment?
Stealing these three big ‘whys’ (Freedom, Finances, and Fulfillment) can give you all the ‘purpose pillars’ you could possibly need.
Take the time to imagine how your coaching business will make your life different…
How it will affect those you care about.
Add these ‘stolen whys’ to your own original reasons for your coaching business.
Then, keep all those purposes in front of you every day…
…to remind you why you’re on your coaching business journey.
Your purpose will overcome tough times.
Your purpose will override your fears and doubts.
Ultimately, your purpose will drive your business to deliver your coaching dream.
Kristoffer “Purpose Pillars” Thompson