Here are some pointers for your first year in business as a professional coach:
Don't expect overnight success or to be 'discovered'?. In any service business you need to build a reputation for yourself and earn people's trust. This takes time and while you're still working out who you are as a coach and which services and products you're offering, you can understand why people you meet might wait to see which direction you go in before hiring you as their coach or recommending you to the people they know. It could take 6-12 months before your practice starts to pick up, so give yourself some breathing space financially by saving up some money to have behind you before you take the plunge. Of course if you are entering the market with plenty of existing experience, contacts and credibility in your field, it is possible to start making a profit straight away as a coach - provided you have put in the groundwork before you give up the day job.
Be bold and believe in yourself. In your first year it's all about attitude. You believe you can do this, right? So act like it! Even if you're trembling inside, you owe it to your clients to come across as confident and self-assured. If you have never had to speak to new people in a business context or sell services, think about learning more about public speaking, networking and sales techniques. There are lots of courses out there for beginners and plenty of books and audio programmes which can help you. On a tight budget? Have a look on Ebay and you can find popular books and audio programmes second-hand at much reduced prices.
It's a steep learning curve. In your first year you will be on a very steep learning curve - which is also quite exciting! For most coaches, this is the first time they have run a business and so not only do you need to learn about coaching skills, you need to learn business skills such as sales and marketing, accounts, IT and operations. You don't need to have MBA-level business knowledge, but you do need to know enough to run your practice effectively and to keep on the right side of the law. There are lots of articles and resources on www.MarketingHelpForCoaches.com to help you with this. Also check out local business groups and chambers of commerce because they often run events and introductory level training sessions for start-up businesses.
Your certificate is not enough to get you clients . Filled with enthusiasm and excitement at gaining a coaching qualification, you might be disappointed to discover that your coaching certificate is not enough on its own to get you hired by your coaching clients. Being able to say you are a qualified coach does give you a head-start and credibility, but you will also need to get out and actively talk to people about what you do. Prospective clients need to believe and have confidence that you can help them. You might be wondering if you should take an advanced qualification to enhance your skills and your marketability. This is a possible route. However, nothing gives you more confidence in your abilities than just getting out there and doing it. Focus on working with real people and gaining experience rather than more letters after your name.
Network like crazy! With the luxury of having time on your hands in your first year you can make the most of the networking opportunities out there, so go out and meet people! It can be tempting to do all of your networking with other coaches and personal development practitioners. While this does have merit and we encourage you to network with other members of www.MarketingHelpForCoaches.com in the forum if you want to understand the needs of people within your target market, you need to network with them.
Build YOUR name, rather than a brand name. Independent coaches need not worry too much about coming up with a clever company name or spend a fortune on branding. You can make an impact using your own name. When you meet people networking, it's YOUR name that they'll remember. When you talk to organisations about coaching, they'll remember YOU. When you approach other coaches about working together as associates, they won't worry about how clever your company name is, they'll look at your CV and what YOU've done. For this reason, when you build a presence on the internet do it under your own name and don't hide behind 'we do this' and 'we do that'. If someone Googles your name they can only find you if your name appears on your website or social networking sites! Once you are clearer about who you are and what you're offering to your clients you can decide whether you need a company name or brand. Until then let people get to know YOU.
The first year as a coach is a very exciting time. It's an opportunity to discover more about yourself, what you're capable of and also what you don't fancy doing in the future! And we're here to support you through it.
