Many of us dream of giving up our day job to pursue the dream of becoming a personal development coach. Jamelle Sanders shares his experience of doing so
As I look back on my personal journey as a life coach and entrepreneur, I learned many lessons that I wish
I could have anticipated when I started out. So many people have a desire to become a coach; however,
I don’t think many of them have a clue what goes into being one. Yes, many get certified through a
training programme, but it takes more than that to succeed as a coach. Here are a few things to consider
if you have a desire to go into the coaching profession.
Figure out who you are and what you do. When I started out, many people would
ask me what I did. Sadly I did not have a clue how to answer them. I would stumble
and I noticed quickly that this was costing me clients. You have to clearly define what type of coaching you offer. Now I have a clear message and can easily communicate that I am a life and business strategist that helps people improve their lives and grow their businesses. Clarity is very important when you are starting out.
Figure out what you will charge. Honestly, in the early days I did not have a clue how to price my products and services. I was afraid to charge too much because I did not feel like I had the reputation to command high prices. However, people used this and took advantage of me. I learned quickly that I must know my worth and never discount my value. I started researching the industry and talking with mentors. I was able to set my prices accordingly and this was a major turning point in my business. Now I am able to command a greater fee because of my experience and reputation in the industry.
Count up the cost of entrepreneurship. So many people jump into a business without clear financial goals. I started my company with some initial investors and savings. However, as time progressed, my savings dwindled and I found myself struggling to keep the business afloat. I know now that I should have done a better job of calculating how much money I would need to run my organisation. You need to have enough money to cover the first 18 months of your business. After this point, you should start to see profits. If you cannot secure six months to a year of savings, I would advise you to only pursue your coaching business part-time. You must have funding to keep your
Know who your clients are. I cannot tell you how much time I wasted trying to serve everybody. Cash will only flow into your business when you concentrate on a specific market. You need to establish quickly who you are aiming at and how you plan to reach them. Without this key piece you really don’t have a business at all.