Are you trying to DIY your online coaching business?
In this video I want to talk to you about if launching it all yourself is for you and
the smartest ways to get your business off the ground.
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All about helping you go from passion to profits in your coaching business.
Ar,e you a coach on Google or YouTube trying to find the information you need to launch
a coaching business, and are you trying to do it all yourself?
We know that over 60% of Americans find it at least somewhat difficult to know if the
information they find online is actually trustworthy.
So if you want to launch a coaching business and you want to do it all yourself or DIY
your business, today I want to give you the six most common mistakes you need to avoid
in the process.
The first trap is the trap of time.
I remember when I launched my coaching business, I did not earn any money for over 18 months
and I worked 12 to 14 hour days.
I worked my full time job.
Then I came home, I took care of my family, I took care of myself and then I went to work.
And I thought that I could do it all myself, figure it out and launch my business on the
side.
And what happened, was that I almost burnt out.
I sacrificed my body, I sacrificed my family, I sacrificed my health and even my career,
all in order to launch the business and I wouldn't get help.
A majority of Americans nowadays, they want time freedom.
They want work life balance.
Maybe you are someone who wants to launch their business to have more time, to have
more flexibility and freedom, but if you're doing it all yourself, if you're trying to
DIY your coaching business, you might actually end up with a lot less time and burning yourself
out in the process.
It's always a good idea to see what you can do in the beginning, but don't fall into the
trap of thinking that you have to launch a business on your own.
The smart way to launch a business is to get a qualified mentor who can actually save you
time, save you money, and save you the stress in the process.
The second trap of DIYing your coaching business is not having enough capital to invest.
I remember one day I talked to husband Boris about investing in Facebook ads and I said,
honey, I need $10,000 to get me started.
Where can I find the money?
Which credit cards can I use?
Which sources of funds do we have available to fund my business, to fuel my business and
get me out there?
And that was a hard conversation to have with him and I'm sure you've had these conversations
and you've had to deal with capital issues and finding money to invest in your coaching
business.
We know based on research that 29% of startups fail because they ran out of cash.
It's the number two reason for businesses to fail.
We also know that 49% of business owners say that costs were the top concern for them in
2018, 41% rank cash flow as their top concern, and 50% say they need to build more cash reserves.
So when you build your coaching business, you think you're saving money by doing it
all yourself, but what you really want to think about is all the money you're leaving
on the table by not investing in guidance, a mentor, or a coach to help you get your
business off the ground and profitable so much faster.
I didn't make any money in my business for over a year and a half and I don't want you
to be waiting that long.
I want you to get your business off the ground and get it to be profitable in six months
or less.
That's the timeframe that is reasonable to launch a new coaching business and go from
zero to a great income in four to six months.
If you're already earning great money in your business, that's awesome, but if you are not,
think about what it's really costing you to do it all yourself, DIYing means leaving a
lot of money on the table that you could already be earning right now.
You could already be earning 5,000 a month, 10,000 a month.
You could be leaving hundreds of thousands of dollars on the table right now, literally
by DIYing your business.
So my recommendation is to get the help you need right now and fast track your way to
success.
The third trap you can fall into when you DIY your business is to use the wrong strategy.
Think about what it means to DIY your business.
It means you're doing it all yourself and it means you're relying on your own wisdom,
your know-how and strategy to make the right decisions.
And that doesn't always happen.
Again, when I launched my business, I did not have a strategy, I didn't know about my
niche, my coaching programs, my business model, my marketing, my sales, none of it, and I
had to learn everything the hard way.
When you're launching a business, you should get the insight and the strategy from someone
who's done it before you.
That's my mission - to help you fast track your way to success, because using the wrong
strategy leads you to spend a lot more money and a lot more time in the process.
Now, what were some of the biggest strategy issues for new coaches?
We know that many of them have a program that does not meet market demand.
Over 42% of businesses fail because they did not meet actual market demands.
That means you're rolling out a program where there's no demand in the market and people
simply don't want what you're trying to offer them.
The second strategy issue is when people are creating programs that are simply not user
friendly.
When you're rolling out a coaching program that does not meet your client's needs and
it's not user friendly, meaning the entire customer experience is not elegant or automated
enough.
It will also create issues for you.
Another problem when it comes to strategy is simply not knowing the right business model.
When you're launching a coaching business and you don't know all the pieces that have
to come together to build a real business model, that will give you the time freedom
you really want, you'll end up working long hours and you may even work more than you're
working right now in your job.
Trap number four is conversions and not knowing how to sell your products and services effectively.
When you're looking around social media, you see a lot of coaches who are doing it, right?
But also a lot of coaches who are doing it wrong when it comes to selling and promoting
their coaching programs.
Nowadays people are bombarded with sales pitches and emails and social media posts and when
your content is not designed the right way, it will not convert, it will be ignored, and
it will be ineffective.
I remember trying to sell my programs in the beginning.
I approached it in all the wrong ways and therefore I did not make any money for a year
and a half.
So when you're thinking about conversions, you need to know about marketing communications.
You need to know about sales funnels, about lead generation, and about how to host effective
sales calls to convert clients into your programs.
So don't leave it up to chance.
Don't DIY your conversion process because your business will suffer as a result.
Trap number five is pricing.
Another big trap and issue that new coaches come across when they DIY their business is
undercharging for their services and competing on price.
And that happens when you have no clear differentiation in the market.
When you can't set yourself apart from your competition and you don't know why you're
different and what makes you better than other coach offerings out there, you will be competing
on price.
You will think about how many sessions to offer and how much time you invest and about
all the logistical details instead of focusing on the results you can create for your clients
and selling from that point of view.
Now, when you DIY your business, it's very difficult to really understand what your differentiating
factors are.
What's your unique value proposition?
What's your brand?
How do you stand out?
What's your core message?
Many new coaches are stuck in their own beliefs and in their own fears and concerns and what
they think is right or wrong, but they can't see beyond that box and that's where a mentor
and a guide comes in and is so important to guide you.
The last trap people fall into is competition.
DIYing your business is very dangerous because when you go it alone and you don't have support
on your side, standing up to competition can be very hard and that's why many people eventually
give up.
Launching a coaching business is not about who can carry the most right now, it's about
who can go the longest, right?
You want to build a business that has longevity.
You want to build a business that is there for the long run and that means you will have
to deal with competition and you'll have to build a secure system.
You'll have to build a network of people that are around you, that are there to support
you and guide you, even when things get tough.
So do yourself a favor.
Get a coach, get this trusted advisor on your side that will help you stand up to competition,
guide you and help you succeed.
And now I'd love to hear from you.
As always, leave me some comments below if you've been trying to do it all yourself or
you are a DIY coach, let me know what your biggest issues are?
How can I serve you?
What are you dealing with?
What are your problems?
What are you facing right now?
Let's have a conversation below in the comments about how to DIY your business.
The information you need to succeed right now on how to get you ahead.
And if you're still not convinced that you need a coach and you still want to DIY your
coaching business, I would like to invite you to our brand new online training.
It's completely free and it'll show you how to get more coaching clients in your business
right now.
In this training, I'm going to talk to you about why you need to differentiate yourself
and how to do that, how to be able to charge at least 10 times more for your coaching programs
than you might be charging right now.
How to get at least three to four times more coaching clients in your business.
Our way of gaining clients online and so much more.
To sign up for the training, simply go to coaching business training.com register for
your seat, it's completely free and I can't wait to see you in the class.
As always, if you liked this episode, give me a like below.
Subscribe to our channel and then come again next week.
Thank you for watching and I'll see you soon.
Take care.
If you are still DIYing your coaching business and you crave support and you want to work
with the leading coaching team in the industry, I would love to invite you to work with us.
Book a free call with my team and let's discuss how we can help you bring your coaching business
off the ground and then scale it to that next big level that you deserve.