Let’s begin with a little bit about you. You believe your calling is to teach and help people. You are passionate about the delivery of world-class coaching, and have a vested interest in the thought leaders, managers, business owners, professionals, and up-and-coming talent currently making a difference within this exciting sector of the business world.
You have some nagging doubts that may be preventing you from becoming what you have always known you could be – that little voice at the back of your mind telling you, “it can’t be done”.
The good news is: you are not alone. Many would-be coaches harbor the very same fears that you do – it’s just a pity that those fears might keep you from fulfilling your life’s goal. Deciding to face your fears and learn to coach may be one of the most rewarding decisions you will ever make, and building a practice to earn the income you want is not an unattainable target.
With the right training, tools and support, you can accomplish wonders.
So, what are the five most common fears people share with us that are keeping them from living their dream?
ONE: “Will I make enough money?”
Existing surveys about coaches show average incomes that are far below what executives and senior leaders make. If you have ever come across these kinds of statistics, don’t be disheartened. These surveys suffer from severe biases; for example, they typically include holistic and life coaches (who tend to have lower incomes), and newer coaches who want just want their voices heard.
You’ll be pleased to know that the outlook is not as grim as the surveys suggest. Good executive and leadership coaches typically charge $1500 to $5500 per month, per client – and that’s before other services you might choose to offer, such as facilitation, training, consulting, and assessment work.
With that in mind, it wouldn’t take many clients to build a substantial income from your coaching business. The trick is to know how to market yourself, and the language to use to attract clients – you just have to know who can teach you.
TWO: “Do I have enough time to set up a practice?”
If you are stuck in a day job that leaves you less than enthused, and would rather begin your new coaching career, now is the time to start. The longer you wait, the more you risk having less time than you’d like to open your practice. Corporate life is volatile. Start learning now while you have the financial resources from your current role, or it will only be harder to get started later on – especially if you are made redundant or let go without warning.
It’s easy to say you don’t have time, or that you’re too busy. We’re all busy. That won’t change. We have to make time for the things we want in life.
If you can set aside a few hours per week to study, you can become a coach. It’s as simple as that. Sometimes your biggest obstacles are the excuses you make for yourself. Don’t be the thing that gets in the way of you and your dream.
THREE: “The market is saturated.”
The perfect example of such an excuse. The answer to this is no, it isn’t. There are lots of coaches, but few great ones. There are almost unlimited niches where you can play a leading role. You just have to know how to position yourself in the market – and it’s possible to learn how to do this.
FOUR: “My significant other and friends think I am taking too big a risk.”
Yes, starting a coaching practice is starting a business like any other. However, the initial investment is cost-effective by comparison and you will come away with skills you can use in any situation. Isn’t it riskier to do nothing and continue to hate your current situation? If you have close friends that are keeping you from the things you want, perhaps you need better friends.
Surround yourself with positive people who encourage your life purpose. Talk to people who have made the transition successfully. Find groups on social media where you can talk to like-minded individuals. Research solutions that will enable you to pursue your ambitions. Shut out all the noise telling you ‘no’.
FIVE: “I am too old, I don’t have a degree, I am too young, I haven’t worked for a major brand, etc.”
We can all find reasons not to do something. The fact is, they are only as true as you believe them to be. Flip those excuses on their heads. You aren’t too old – you offer years of proven experience and results. You aren’t too young – you offer a fresh perspective. You don’t need to find clients among the major brands, because the biggest market is in small to mid-sized enterprises.
However, even the big brands could benefit from your input – consider that they have plenty of people with years of experience and qualifications from good schools, and they still get things wrong from time to time. Show them why they need you and how you can change their world!
Feel the Fear and Do It Anyway
There is a little-known phrase you may have heard before “YOLO” – which stands for, “You only live once”. As far as anyone knows, you only get one shot at this life. The question is, would you rather regret the things you could have done or seize every opportunity that comes your way?
Fear is only a force if you feed it. If you really want to be a coach, and you know in your bones that you would love it and be great at it, then you owe it to yourself to let nothing hold you back.
You can learn directly from Andrew for FREE at the WBECS 2019 Pre-Summit – secure your spot by registering TODAY at https://www.wbecs.com/wbecs19/
Andrew and WBECS partnered to create Coach Master Toolkit – the ultimate package of frameworks for professional coaches.
To find out more about CMT, visit http://www.wbecs.com/cmt/program/ today!
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