were not supportive. I had quit my full-time, lucrative administrative job and dedicated myself the profession. For the next two years I struggled with my coaching business and finally I found my niche. Having a coaching business in not for emotionally unstable professionals. You must have faith in your capabilities and faith in your delivery system. Why do most coaching businesses fail? Here are the top 10 reasons: 1. Lack of focus
2. Lack of commitment
3. Failure to adjust to the demands of your customers
4. Failure to see the big picture
5. Lack of investment (time and money)
6. Failure to offer a variety of services
7. Following the status quo
8. Having a one-model-fits-all method
9. Poor marketing
10. Poor business alliances Many of us who were new to the coaching profession eagerly joined professional coaching organizations. We were willing to spend money, time and energy in learning about the coaching business. However, many of us walked away with very little return-on-investment (ROI). Why did we get so little in return? The answer is simple: You failed to identify your market niche! As a business Owner you must know your market niche! Here are 7 Keys to Coaching Success: 1. Do your homework: conduct market research 2. Test your product: give it away and see how people respond 3. Develop a price strategy: begin offering discounts and gradually raise your prices 4. Change your coaching model: phone coaching may not work for everyone so you must offer something unique 5. Listen to your clients and accept feedback: this is valuable because most of your clients want to see you succeed 6. Offer training and development programs: this will help you create another revenue stream 7. Stay the course: dont let failure discourage you! |
