7 Ways to Save Money and Time when Launching Your Coaching Business

It’s exciting to receive your brand new coaching certification after working so hard and so long to earn it! It’s also a bit scary – what’s next? With a few exceptions, coaching isn’t a “job” that people hire you for. It’s a business.

You’re now a self-employed entrepreneur! For those of you who have never owned your own business, it’s a whole new world. The rules have changed. To be successful, you need a new mindset.

Entrepreneurs think differently than employees.

This is why I see so many new coaches make the same mistakes, over and over again: because they haven’t yet acquired the entrepreneur mindset.

There’s nothing wrong with that, why would anyone think like an entrepreneur if they’ve never owned their own business before?

Most coaches became coaches primarily because they wanted to help people, not because they wanted to become a business owner. The challenge is that in order to become successful, they need to learn to think with the new mindset.

Otherwise, they make mistakes that cost them a tremendous amount of time and money, and possibly even the success of their business.

So I’ve decided to do a series of articles that addresses the 7 biggest “mindset” mistakes I see, showing coaches how to save time and money and make the leap from thinking like an employee, to thinking like an entrepreneur.

I’m going to begin here with an overview, listing all 7 briefly. Then I’ll go into detail on each with upcoming articles, starting with #1 in this article.

7 New Coach Mindset Mistakes

1. Thinking you need to “make money from the business first”, or that you need to “try it yourself first” before investing in professional marketing help.
2. Thinking that the more you narrow your niche, the less clients you’ll get.
3. Taking too long to get going because you think you have to get everything just right or perfect first.
4. Thinking the first thing you need to do is create a website.
5. Trying to Market and sell the process you use to get results, rather than the benefits or results themselves.
6. Not understanding the critical importance of establishing your niche expertise by offering valuable content.
7. Thinking that doing free coaching sessions will encourage people to sign up for your coaching.

New Coach Mindset Mistake #1

Thinking you need to “make money from the business first,” or that you need to “try it yourself first” before investing in professional marketing help.

This is perhaps the most classic difference in thinking between an employee and an entrepreneur. When you own your own business, you need to look at the big picture.

Let’s say you invest $1500.00 in professional marketing help to get your business off the ground and going, before you’ve made money or tried it yourself.

With professional help, you’ll most likely refine your niche and your brand more clearly, create a more compelling marketing message, package and price your offers more effectively, and spend less money on a more effective internet presence.

You’ll earn that $1500 back many times over: You’ll probably save that much immediately by not overspending on a website. Then you’ll earn it back again by getting going sooner, because you’ll get clients you would have missed because you weren’t ready.

You’ll earn it back again within a short period of time by getting more clients than you would have, because of your compelling, targeted message and your enticing packages that sell results, not time (so you can charge what you’re worth and get it.)

Finally, you’ll continue to earn it back over and over again, as your professional marketing elements continue to attract more clients than you would have otherwise.

So, if you’re thinking like an entrepreneur, you’ll see that not only does that initial marketing help not cost you a thing, but it actually makes you a significant amount of money that you wouldn’t have otherwise.

That’s why the most successful coaches continue to invest in professional marketing help no matter what stage their business is in. The support and guidance always helps them grow more quickly, and they always make their initial investment back many times over.

Click here to read about critical mindset shifts #2 .