Am I ready to go full time?
If you’re reading this, that’s probably one of the biggest questions on your mind right now.
Here’s the thing: Transitioning from part-time to full-time coaching can be tricky and if you’re like most coaches, you’re feeling a little bit anxious right now. So, here’s the first thing you need to know, there couldn’t be a better time to become a full-time coach! The coaching industry has seen exponential growth in recent years with no signs of slowing down. According to a study by Market Research, life coaching in the United States alone is expected to cross the $1.3 billion USD mark by 2022. The demand for effective, results-driven coaches is on the rise—not just in life coaching but also in other specializations such as business and health—and you can definitely benefit if you build a solid, full-time coaching business.
Here are three crucial steps you can immediately use to strategize a smooth, successful transition into full-time coaching.
Step 1: Focus on Yourself
When you’re thinking of going full time, it’s easy to fall into the comparison trap where you’re constantly contrasting your personal coaching skills with other coaches.
The truth is, it can be hard to stay confident when you see emails and social media posts with headlines like “I’ve just had a 7-figure year” or “I have a booked-out client calendar for the next 6 months!”
The most effective solution is to stop looking outside yourself and start looking within. Focus on becoming the best coach YOU can be. Commit to learning and improving every single day and the best part is, this doesn’t have to be expensive or complicated. There are lots of reliable free resources you can turn to plus a ton of online courses and in-person workshops you can attend.
The point is to accelerate your coaching and business knowledge and skills before you leave your day job. It’s one of the smartest things you can do as you navigate the transition from part-time to full-time coach.
Step 2: Focus on Your Numbers
Way too many part-time coaches quit their 9-to-5 job on a wing and a prayer and the next thing they know is that they can’t pay the bills! This is absolutely avoidable if you take the time to map out a plan that will help you handle your finances.
Here are key elements you need to look into:
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- Calculate your MVI or Minimum Viable Income—the amount you need to cover basic living expenses
- Reflect on the maximum number of hours you want to coach each week and month
- Think about coaching packages you’d like to offer and how much you want to charge
- Get into the habit of conducting a regular review of your income
It’s crucial that you know these numbers before you go full time, so you don’t end up having sleepless nights each time the rent is due!
Step 3: Focus on Your Clients
If you don’t want to get lost in a sea of other coaches in your niche, focused client attraction needs to be at the top of your priority list.
Crafting a powerful personal brand that’s built around your area of expertise will help you stand out in all the right ways and be seen and heard by all the right clients. Your personal brand is basically a mixture of your unique personality traits and life and work experiences, plus skills. This is where you need to start.
Compile a list of all of those things, then focus on creating your message and content around it. Think about how you want to help your clients. What makes you different from all the other coaches out there? What do you want to be known for? What are you passionate about? Make sure your answers reflect your values and beliefs then share your insights, ideas and tips via text posts and videos on your social media accounts.
You should also look for speaking opportunities where you get to share your expertise. Also, don’t forget to reach out to past clients for recommendations.
Keep in mind that all of this will take time and effort but it’s definitely worth it.
When you’re clear about your personal brand and you’re not shy about sharing your message with the world, your ideal clients will find you, connect with you, and feel motivated to work with you. These three crucial steps have been proven to work again and again for thousands of coaches around the world. Follow through on each one, and you’ll create a strong foundation that will take you powerfully—and painlessly—from a part-time coach to a full-time professional with a long waitlist of clients.
The original article can be found on the International Coach Federation (ICF) blog.
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