Congratulations! You’ve got your coaching business off the ground. That in itself is a great achievement, but you’re not done yet! The next stages of growing your business are critical, and can be challenging at times. To realize your full potential, you’ll need to be attracting clients and earning profits to take your coaching to the next level. Here are 6 proven methods to grow your coaching business from a startup to a smashhit:
1. Flaunt your expertise
You are an expert in your field. That’s what gives you the authority to coach others. Now, you need to convince your audience that you’re an expert. The best way to do this is by sharing your advice online, in a personal blog or online forum.
Publishing blogs related to your work on your website, as well as guest blogging for other authority sites, lets you demonstrate the quality of your advice and raise your profile among your target market. Find any forums related to your field and try to be active and authoritative on them. You can also look at general Q&A sites such as Quora and Yahoo! Answers. Just like how subscription businesses offer free trials to entice people into buying a paid subscription, you can share free nuggets of expertise to entice your audience into signing up for your whole coaching package.
2. Create a social media presence
In this day and age, if your clients can’t find your business on social media channels, with reviews, likes and regular posts, you’ll struggle to grow your coaching business beyond the startup stage. Increase your following online and promote your brand integrity by posting tips on Facebook, Instagram, Twitter and LinkedIn. As well as posting on your own profile, you can find LinkedIn groups where you can answer people’s questions. Encourage your clients to share success stories, so more people are likely to follow their lead and seek out your coaching skills.
3. Networking and more networking
Coaching is a very personal service. It involves getting to know a person or company and delivering individualized advice. So, it’s all in the people skills, and building close relationships is particularly important for coaches. Business networking will help with this. Research networking groups in your local area and find which ones suit you best.
Networking is a great method of maximizing your customer base, getting to know your audience and the problems they face, as well as meeting other businesses and building mutually beneficial relationships with them.
4. Cross promotion and referrals
From those business relationships built through networking, you can earn more clients even if your audience isn’t present at the event. Getting to know other business owners and building trusting relationships with them will help you gain more referrals.
Further to this, if you share a similar target audience, but are not in direct competition with one another, then you can help each other by cross-promoting to your clients. For example, a company that provides funding for startup businesses is likely to have clients that need coaching to get their business going, while your coaching clients may need funding to help grow their business. It would be a clever idea to come to an agreement with another business to promote each other’s complementary services.
5. Review your offerings to grow your coaching business
Make sure you continuously review the services you’re offering to ensure you don’t become stagnant. The answer here is feedback. Listen to what clients say about your services, what’s great about them and how they could be improved. Be sure to amend your coaching accordingly. Observe your target audience online to see what kinds of questions they are asking. This could help you identify a common problem that you can offer a new solution for. In addition to this, keeping an eye on competitors can also make sure you stay ahead of the coaching game.
6. Look for areas for expansion
It’s important to focus your coaching services on a specific audience rather than being too general. However, as your business grows, you may notice opportunities to hone in on a new niche and add to your services.
Be on the lookout for new business avenues that aren’t too broad, and that your current business model is scalable onto. For example, if you currently offer coaching to personal trainers, you may be able to diversify to serve gym teams, and apply your model on a slightly larger scale. It’s still quality over quantity though: always be careful not to spread yourself too thin and compromise the high quality of your coaching service.
By following these tips, you can grow your coaching startup from small business to a booming success. As your business grows, you’ll also need to ensure that you’re managing your time well. By using business tools like Shore to automate what you can, you can devote yourself to coaching your clients to the highest standard. Get in touch today to find out how our coaching solutions can help you reach your full potential as a business coach.