In the fifth episode, Rich and Milana discuss the struggles a lot of coaches have while trying build their businesses. Rich states, only 9% of coaches ever hit the $100,000 mark and the main reason is coach training.
Listen to the Podcast :
In this episode you’ll learn:
- Why do people buy coaching? (what makes someone say YES to paying $500‐$1000 a month?)
- Why are so many coaches broke?
- Is everyone a “coach” these days? (Rich, did you ever feel like a fraud when you were coaching?)
- What should you start doing this week to make more money in coaching?
- How million‐dollar coaches think
The problem with coach training is they don’t teach you any business skills (what you need to do to go out and get clients). Rich and Milana believe there is a better way to build your coaching business. They want to help you make as much money as you can as a coach, get as many clients, make the biggest impact, have the greatest lifestyle you can.
Why people buy coaches? People are willing to spend the money to buy a coach because as a coach you listen and care. People need to have someone to believe in them and to validate that you can build your business. There is more value in the fact that you can strongly believe in someone than if you have ever actually done what that person is trying to do. If you’ve been there and done it, that’s great, but Rich doesn’t want you to be discouraged if you haven’t achieved that great level of success necessarily because just the fact that you believe in people and ask great questions and hold them accountable; those three things will make you a great coach.
Rich is procoach. He believes that it’s important as a coach to have a coach because no one has mastered life and it’s important to constantly learn and grow.
Rich believes: As coaches we need to do whatever we can to raise our energy, raise our vibration, to raise our belief in ourselves to be as close to 100% whole as we can because that will make you a great coach. When you’re whole, people are going to be attracted to your energy; to want to pay you and listen to you. A “can do” attitude makes people believe that you can help them achieve their goals.
“Good Coaches make a living and stick around. The charlatans don’t last long unless they’re very good marketers.”
How do coaches market themselves?
Create a coaching package that implies there will be a specific result at the end of the program and the result is what people will buy.
Don’t sell “coaching” sell a solution to a problem. People don’t just buy coaching they are buying results and help. There will always be more issues to solve so after one project you will still be needed by your clients.
Rich’s epiphany: As a coach if you can get not only the logical left brain going but also the right brain which is about feeling and emotion you will always gain clients.
If you’re a coach and you’re struggling to build your business, you’re not alone. In fact, only 9% of coaches ever hit the $100,000 mark. The biggest reason is… “coach training!” Here’s why… Many coach training programs either don’t teach any business skills or they base it on the old “one‐to‐one” sales model. But there is a BETTER way to build your coaching business, which can give you a much higher income and a much better lifestyle!
Go to coachingmillions.com/report for a free copy of the Coaches Profit Formula.