Running a successful business isn’t easy, no matter what industry you’re in. You may be a great coach, but to manage your coaching business you have to be a salesperson, a marketer and an accountant on top of that. It sounds like an impossible task, but these 6 tips will help you in managing your coaching business efficiently and successfully.
1. Be active on social media
Today, business owners need an understanding of digital media. The days of relying on flyers and word of mouth to market your business are all but gone. Social media is a great platform for marketing your coaching business and communicating with your audience, and you can use it without spending a cent. Make sure you’re sharing content that is useful and relevant to your audience, and engage with your audience as much as possible.
2. Understand your audience
To share content that your audience will engage with, you’ll need to understand what your audience is and what your audience wants. Try to identify a specific niche that your coaching business is targeting, and learn everything you can about that niche. This will help you refine your coaching service and guide your marketing to maximize results.
Learn which online platforms your audience uses and focus on those platforms. Get to grips with what kind of language your audience uses and relates to, and make sure you mimic this language in your marketing.
3. Stand out
What makes you stand out from all the other business coaches out there? Why should your audience choose you over them? First, you need to make sure you can answer these questions yourself. Then, clearly communicate these answers with your audience through your marketing and advertising materials.
4. Manage your time carefully
When you’re managing your coaching business alone, you’re in charge of everything. That means it’s even more important to manage your time well to make sure you cover all bases. Since you only have so many hours in a week to commit to your business, it’s important to make the most of the time you have. Stay focused on the task at hand to improve efficiency, use automation tools to help save time, and don’t be afraid to outsource tasks if they’re taking up too much of your day.
5. Be realistic about how much you charge
Many new business owners are prone to undercharging for their services. Let’s say, for example, that you price your time at $50 per hour. You book a 1-hour coaching session with a client and charge them $50 for that hour. When it comes to the appointment, you spend 30 minutes preparing materials for the session, 30 minutes travelling there, an hour coaching, another 30 minutes travelling back to your office, and then 15 minutes following up with your client.
That’s almost 3 hours of your day gone, so how much should you really be charging for that session? You’re never going to earn a high income by devaluing your services, so make sure that the price is right.
6. Don’t be afraid to ask your clients for something
Sure, the purpose of your business is to help your clients, but that doesn’t mean they can’t help you in return. Customer referrals are a great way to acquire new clients with little effort on your part. If you already have satisfied customers, then let them do the work for you.
However, they might not think to do it on their own, so politely ask them if they have any peers or colleagues that might be interested in your services. You could also set up a referral scheme by which your clients are rewarded for making referrals. Another idea is to ask your clients to provide you with online reviews or testimonials to help you promote your business.
Following these useful tips will allow you to take control of your time, finances, and customers. For even more support with managing your coaching business, Shore has developed specific solutions for business coaches, including appointment scheduling automation and marketing software. Get in touch to find out more.