CoachingHow To Set Up A Coaching Business
Setting up a coaching business can be tough when you first start out, especially if you do not believe that you have the right qualifications.
But I am here to tell you that YOU DO NOT NEED ANY QUALIFICATIONS TO BE A COACH!
You just need the know-how.
So in this journal entry, I will be taking you through how to start up a coaching business.
Your Knowledge:
Being a coach is very rewarding work, it will give you a sense of joy knowing that you are helping others. You are making a difference in people’s lives.
When your client finally understands a process, or makes their first money. Or that business that was failing is now as sturdy as a rock, there is no feeling quite like it. But how do you get to that stage?
Quite simply you must have acquired the knowledge. For me being a mindset and business coach, I needed to develop an understanding of the mind, and of how to scale businesses from zero to ten thousand dollars a month. (This is the magic number where businesses will begin to thrive.)
So, this meant that I needed to read books, take online courses and look for mentorships.
Now thankfully we live in an age of Youtube and Instagram, so gaining knowledge is easier than before.
My Instagram for example gives free information on business and on mindset. Others give free information on business and social media marketing, just to name to other areas.
You can learn a lot from this.
On top of that, there are plenty of videos and books.
Here is a list of books on mindset and business that I have read.
- Infinite Income
- Traffic Secrets
- Expert Secrets
- Dotcom Secrets
- Open With A Close
- The High 5 Habit
- Sell Like Crazy
- Warrior
- The 6 Figure Speaker
- The Intelligent Advertiser
- Man’s Search For Meaning
- High-Performance Habits
- Deep Work
- 10x Rule
- Copywriting Secrets
- Flow
- The Motivation Manifesto
This was my starting point, the knowledge these books gave me along with courses like Dean Hollands Internet Profits gave me the starting point to run up my knowledge.
After that, I had to decide on how I was going to coach.
Your Coaching Style:
How you decide to coach will be up to you. Some prefer one-to-one coaching. Some prefer group coaching. Some prefer a pre-recorded curriculum. There is no right or wrong answer here.
But what you choose decides the price you can charge. Personally, I use a mixture of the three, which allows me to charge more.
They each have advantages and disadvantages, which I am sure you can find on this very site. But to keep this as an overview, this is all you need to know.
Length Of Coaching:
The next area you need to tackle is deciding how long your coaching will last.
Some do twelve months of coaching some do three months. You need to figure out how long it will take to implement what you are teaching and for them to be able to start seeing the results.
Once you have this sorted you are then able to move on.
Taxes:
Now, this is not financial advice, but in the United Kingdom (at the time of writing), you have to pay Value Added Tax (VAT) on all services that you give.
For example, if your coaching course costs ten thousand pounds. You will have to pay HMRC two thousand pounds for every course you sell.
It is very important to know your local taxes so you do not get caught out.
Conclusion:
Setting up a coaching business is not difficult, but it requires time and effort into learning your craft.
There are many out there who fake it until they make it but this will only work for a short time. Instead spend time learning your craft. Read books and progress your knowledge and grow.
Until tomorrow this has been your coach Andrew
