By: Shama Hyder
As some of you know, I had my own coaching practice before I started After The Launch. One of the driving factors behind starting After The Launch was my success with the coaching business. I saw (still see) really good coaches struggling to make ends meet. Here is how I built a thriving coaching practice and later sold it:
1) I didn’t "jump in." I am a fairly methodical person and I like to do my research. I suggest all serious business owners do the same. Before I ever opened shop, I talked to other coaches, I created a marketing plan, and most importantly-I found a mentor. Jeannette Maw is a very successful coach. She was doing something very close to what I wanted to do, so I hired her to help me. It was the smartest decision I made. Very few people realize how tough it is to start a business from scratch-even if you are a seasoned entrepreneur. There is no alternative for human support. Having her support enabled me to reach further and feel safe doing so at the same time.
2) I had a model and methodology- A structure is one of the most underrated yet useful components of a successful coaching or consulting business. It provides a flexible framework for getting a client from point A to point B. I created the WOW coaching method. It was a three step process that I honed over time to deliver results. It allowed me to explain how I worked in very simple terms .
3) I participated in forums- Marketing your services through forums is online guerilla marketing at it’s best. I participated mainly in forums where my target market was hanging out. And I didn’t post any ads. I just answered people’s questions with my web address in the signature. This was a GREAT list building tool. On an average week, I was adding 50 to 60 new people to my list.
4) Positive intentions- Our intentions are powerful. Once you make up your mind, you can (pardon the cliche) truly move mountains. I was intent on building a successful practice and I didn’t let up until I had one. I also realized that I didn’t need a million clients. I just needed a few that truly loved what I had to offer.
5) Created a funnel- Not everybody is ready for full fledge coaching. They want a taste of what you have to offer. Keeping this principle in mind, I created a funnel. It started with a free report, then a $9.99 personalized prescription for success, and then went on to coaching. The $9.99 made no difference to me, but it allowed me to show them how I could help. Paying a small amount helped them show trust in my services (even if it was a small start).
Later this week I will share the lessons I learned while creating and building my coaching practice.