Just launched a coaching business? As any coach – practicing independently or running a multi-coach business – will tell you that ‘growth’ is one of the biggest challenges faced year on year.
Starting a coaching company comes with its own difficulties – financial backing, attracting a steady clientele, struggling to keep abreast with new coaching tools & technologies, and running an efficient business while juggling clients, among others.
So we’re sharing 5 steps that will help you grow your coaching company in 2022:
1. Zone in on your coaching model
Helps you: Create better client experiences, improve coaching outcomes, hone your skills
Coaching is all about helping people do better in their lives. Guiding them in discovering their right path, improving existing skills, developing newer capabilities, and generally helping them reach where they want to be from where they presently are. The most effective way to do that is to employ a coaching model.
A coaching model is a framework around which you plan your engagements. Take, for example, the GROW framework. G-R-O-W stand for the 4 steps of the model (G-oals, R-eality, O-ptions, and W-ill), which takes the client from setting the right goals (and revisiting them if need be) to arriving at a specific action plan and expected results.
2. Develop a robust business plan
Helps you: Make strategic business decisions, maintain direction
No business can grow without having a solid business plan. As a coaching company, having a detailed business plan provides you with a clear picture regarding the financial health of your business – start-up expenditures, a true comparison of assets & liabilities, potential income figures, and more.
Prepare a business plan that is grounded in reality (don’t overestimate your accomplishments and misjudge limitations), states your business vision & distinct offerings, includes a SWOT analysis, marketing plan and financial plan, and is flexible enough that, if required, can be adjusted according to the situation.
Developing a robust business plan gives you a fair grasp of your present condition and the guidance to keep the venture on track by avoiding mistakes that can prove damaging to your coaching company down the road.
3. Build strategic partnerships
Helps you: Bring in new business, grow your brand
Another smart way to grow your coaching company is to tie up, in a non-competitive manner, with other businesses who may not operate in the same field but may offer products and services that have a certain overlap with your own. This alliance can then be leveraged to increase your visibility and promote your coaching company by using the large follower base to reach out to a readymade audience.
For instance, if you are a career coach, then a tie up with a recruitment agency is an organic choice. Your company can become their preferred referral for coaching services and vice versa you can promote the HR firm as an ideal partner to your clients on the lookout for career opportunities. There is no conflict of interest for either party but the possibility of both sides – as well as your clients! – benefiting from this alliance are numerous.
Along with business tie ups, you can also collaborate with online influencers to widen your coaching company’s presence on all the important social media channels. Or have regular content published in newsletters or magazines (online or offline), or research those organisations/groups that your ideal clients are associated with and become a speaker in conferences or webcasts/podcasts to further your coaching business.
4. Have a solid sales & marketing strategy
Helps you: Bring in new business and increase revenue
An effective sales funnel and a solid marketing strategy are vital to your coaching company’s growth. You may offer terrific coaching packages and expertise, but if no knows about those services, then it is of no use.
Make sure you address the complete sales funnel – from targeting the right clients to presenting distinct coaching services that align with their requirements, displaying your superior coaching packages versus those of your competitors, and having regular follow ups till finally the client gets onboard.
To target the right clients, start with advertising on social media platforms such as LinkedIn, Facebook, Instagram, YouTube, which are not only the most popular mediums but also have the highest users on a global scale. Tapping into this huge audience is a must for any coach who is looking to maximize their online reach and driving steady traffic to their website. In addition to using these well-known platforms to advertise your brand and target specific clients, you can also use SEO, email marketing or paid advertising platforms such as Google to further promote your coaching company.
While you may hesitate to deep dive into marketing, without a strong online marketing strategy you may find it difficult to truly penetrate into potential customer bases.
5. Invest in an effective coaching platform
Helps you: Save time, handle more clients, increase efficiency and boost your bottom line
Starting a coaching company may be the realisation of a long-held dream but, as a coach, it also makes a lot of demands on your time for attending to non-coaching tasks. That’s why investing in a fully integrated coaching software that automates a lot of manual jobs such as scheduling, reporting, payments, marketing, sales as well as content under a single platform is the smart option as it leaves you to focus on your core job of coaching and growing your coaching company.
Simply.Coach is a fully automated, user-friendly coaching management platform for both independent coaches and coaching businesses that lets users manage the complete coach-client association under a single roof.
Expertly designed to combine business tools, digital coaching tools, sales as well as marketing features in a seamless way, the Simply.Coach coaching platform helps save time, improves the coaching process and delivers transformative results via the digital coaching journey.
In a nutshell, Simply Coach is the go-to coaching software that lets solopreneur coaches and even multi-coach organizations provide their clients a complete coaching experience and also helps them increase their client volume & grow their coaching businesses.
1. How do coaching companies attract clients?
Some of the best ways to reach the right type of clients include carving out your own specific coaching niche (life coach, career coach, business coach etc.); network effectively with other coaches or coaching communities to gain referrals; build a strong social media presence for your coaching brand to engage a vast audience; publish original and relevant content across mediums; make smart use of multiple online channels such as videos, SEO, social media platforms, email marketing, paid & affiliate advertising; and connect regularly with potential clients to nurture contacts.
2. How do coaching businesses market themselves?
With most clients searching for coaching services online, it is necessary for coaching businesses to operate, market their coaching brand and establish a strong presence in the digital space. There are many ways to promote your coaching company including driving traffic to your website via robust social media exposure on Facebook, Instagram, YouTube, LinkedIn, SEO and digital marketing. For this, it’s necessary to create content: blog posts, videos, podcasts and webinars are a few options to explore. You can also conduct online workshops, speak at coaching conferences, tie up with influencers and compatible businesses, run ad campaigns, referral campaigns, affiliate campaigns as well as be part of community forums and coaching groups.
Simply.Coach is an enterprise-grade coaching software designed to be used by individual coaches and coaching businesses. Trusted by ICF-accredited and EMCC-credentialed coaches worldwide, Simply.Coach is on a mission to elevate the experience and process of coaching with technology-led tools and solutions.