How much does it cost to start your own coaching business?
Apparently starting a coaching business is one of the least costly businesses to set up.
You can start coaching as long as you have a phone or zoom, and if you wanted to, you could start without those and meet your clients face to face!
That is assuming you have suitable coaching credentials to enable your clients to get the results they come to you for!
The tricky bit is attracting your ideal paying clients.
The first things you might think you need are a website and business cards.
That is what I though too!
I spent quite a bit of money getting a beautiful website, only for no one to visit it.
Also, I wasn’t really clear about who my ideal client was to start with, so as it changed, I needed to spend more money updating my website.
I would highly recommend that before you invest in a website, you start working with clients and spend some time really thinking about who you want to work with and the problem you solve.
A website needs to clearly reflect this, and you also need to be able to drive traffic to it.
As far as the business cards are concerned, I have a draw full of them.
I bought them 3 years ago and most of my networking since then has been online, for obvious reasons.
Again, they are not essential as you get started.
The most impactful sales tool in my business has been LinkedIn.
I don’t pay for that; the free offering is absolutely good enough.
I also attended a number of free 5-day challenges to get my knowledge and use of the platform up to speed.
This has been a real game changer in my business.
My LinkedIn profile has basically been my website, this is where my ideal clients find me and where I send people that I would like to add to my network.
As your business grows and you find your feet, you will want systems that automate your business.
You don’t want to be spending time doing dull yet critical admin!
A lot of these systems are fairly inexpensive and save lots of time.
Networking is also important to enable you to grow your network.
There are some networks you can visit for free, some you don’t have to join and just pay a small amount to visit when it suits you.
And some you have to pay annual membership which can be hundreds and even over a thousand pounds a year, depending on what you choose.
Coaches need a coach!
This is critical for my personal and business growth.
Probably the biggest investment I make in myself and my business every year is my coach and mastermind programme.
There are so many things I wouldn’t have achieved in my business if I hadn’t had had my coach by my side.
That investment is as important as any other of my essential business costs.
I always love to learn from people who are ahead of me, I can learn from their mistakes, and I can fast track my results.
Free 4 Pillars to Profit workshop
If you are thinking about setting up your own coaching business, why not come along to my 4 Pillars to Profit free workshop on the 14th September 2022.
I will be sharing the things that have made my business profitable along with the mistakes that I wouldn’t want you to make!
You can register here.
Please feel free to comment here with any questions.
I love talking about business and would be happy to support you!
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