Whether you have already invested in Coaching or getting started, this blog post is for you.
The best way to learn is through experience. For those wanting to build a profitable coaching business, hiring a coach is an amazing way to start. Especially if they feel they don’t have enough experience.
Now that sounds all fun, but who should a newbie coach invest in?
Better yet, how should one that’s stuck invest their money to get them to the next level?
As someone who has spent countless hours figuring out how to invest in the beginning. I have quite a few tips to dish out. Add in all the talks I have with coaches about their past, current, and future investments…you can say I’m an expert.
As the creator of the ‘Your Business Your Way’ movement, there’s no way I’m about to tell you what investment is right for you. After all, you could be one of my clients or a total stranger. Instead, I will dish out the best advice on the types of investments to consider. I’ll also talk about who will be the best fit for this investment. It’s up to you to make the decisions as the CEO of your coaching business.
It’s where you will be able to ask me any type of questions related to this subject. Simply by creating a new post in the group.
Why invest in coaching as a coach
1. A coach sees your blind spots
There are different reasons why a coach would want to invest in a coach. The most important one is because we all have blind spots. Even if someone is the exact same coach as you are, the need may arise to invest such a coach. As a business coach, I’ve invested in many business coaches. Each one helped me get my business to that next level.
2. Hiring a coach gives the experience of being a client
Another great benefit of hiring a coach is it gives one the experience of being a client. It’s often said that a good leader needs to first be a good follower. This is the same concept. As a client, it’s easy to see the likes and dislikes that can improve the way the coach shows up in their business. This is also one of the tips given to those who want to build a profitable business but lack the experience.
That’s why I recommended hiring a coach in How to Build a Profitable Coaching Business Without Much Experience
3. Investing in a coach boosts results
The last reason to invest in coaching as a coach is to boost results. Which of course is the most obvious one. Hiring a coach increases one’s effectiveness. At the end of the day, that’s what every entrepreneur wants.
7 Types of Coaches to invest in as a coach
These 7 types of coaches are important for someone to have when starting a business. They’re mentioned in the order that one might want to invest in them.
When possible, it can be a good idea to work with more than one coach at once. If one chooses to do this, they do need to consider the application load that can come from each coach. Especially since a coach does not do the work for anyone, they’re simply a guide.
Be wary of coaching that’s for everyone.
Coaching is not a one size fits all garment. Even if it was, most people don’t look good in those. So when choosing a coach, make sure it’s something for you. Don’t get caught up in the hype. Make a grounded decision. Check out the checklist before hiring a coach.
Type of coach to invest in #1
What can a business coach do for you?
A business coach helps establish the full strategy of a business. Business coaching is all about understanding the client’s journey from beginning to end. In other words, it gives a bird’s eye view of all that needs to happen in the business. These coaches are great at troubleshooting to find out what’s not working to fix it.
When to invest a business coach
Whenever someone is not seeing the results they would like in business, a business coach is a good fit. Especially if the person does not know how to get to their next level.
There are different stages one might be interested in investing in a business coach. In the beginning, someone will need a coach to help them create a personalized strategy that helps them book clients whenever they want. That’s my specialty.
When that same coach is fully booked, they will need another business coach to reach their next level. That next business coach can then help them scale to the next level.
Type of coach to invest in #2
What can a life coach do for you?
Life coaching might seem like it has nothing to do with business success, but it has everything to do with it. When someone’s life is a hot mess, it’s difficult to focus to set up a profitable business.
Everything a solopreneur does in their personal life affects their business. Like a child experiencing problems at home will impact their performance at school.
There are different types of life coaches who focus on different areas. Some might not even call themselves a life coach.
When to invest a life coach
When someone’s personal life affects how they show up in their business. The other scenario to hire a life coach is when the business strategy is on point while the results are not.
Type of coach to invest in #3
What can a mindset coach do for you?
Mindset coaches are pretty similar to a life coach. It’s a branch of life coaching, but it focuses more on the way the client thinks. Limiting beliefs are the only things that stand in the way of anyone fully creating their dream life.
At the end of the day, we’re all pure potentiality. As the wordsmith Eminem says “you can do anything you set your mind to, man”. With Mindset being one of the three pillars to sign clients, it’s a good one to keep in check.
The 3 pillars of consistently signing clients are Mindset, Clarity and Offer
– Sheedia Jansen
When to invest a mindset coach
The best time to invest in a mindset coach is when someone feels they are standing in their own way of success. Especially when fears are standing in their way. Like the 10 sneaky fears keeping coaches from clients.
Type of coach to invest in #4
What can a branding coach do for you?
Branding has everything to do with what someone or something is known for. Besides graphics and colors branding also has to do with things like taglines and quirks.
What do you think about when you hear “It’s finger lickin’ good”?
One does not need to be a KFC fanatic to know who’s tagline it is.
That’s the power of branding and what a branding coach helps a client create.
When to invest a branding coach
Branding is a fundamental part of building a business. But, it’s not the most important thing to invest in from the get-go. Most people can DIY their branding when starting out. As the business grows, it will become a bottleneck that needs improving to scale.
If you feel like you need branding, my business bestie Christi Bernard is a branding GENIUS. She offers done for you Canva branding packages. Plus she offers 1-on-1 packages where she will design your brand and website for you.
Use code ‘Sheedia10’ for a 10% off coupon.
Type of coach to invest in #5
What can a marketing coach do for you?
A marketing coach is specialized in helping people market better to get more leads. Which of course can mean more sales. Under the umbrella of marketing coach, also falls anyone who specializes in ads.
Marketing coach vs. Business coach
In the coaching industry, there are marketing coaches calling themselves business coaches. There’s a difference. A business coach focuses on the overall business strategy. A marketing coach only focuses on marketing.
Newbie coaches often get obsessed with the marketing of their business. They believe that more engagement and visibility will equal more sales. That’s not the case.
A past client of mine has booked 6 clients with only 83 people in her group…without any sales calls.
Having great marketing without a clear strategy can mean little to no clients.
When to invest a marketing coach
After the business strategy is in top shape and already booking clients. Then a marketing coach can help with the exposure of one’s business to lead to more clients. It’s not a need to have the best branding before hiring a marketing coach, but it is something to consider.
Type of coach to invest in #6
What can a leadership coach do for you?
Business and leadership go hand in hand. A leadership coach can help someone step into their leadership capabilities. This often involves dealing with past issues that are holding the person back.
When to invest a leadership coach
Investing in a leadership coach is for the coach who’s ready to step into their next level. Especially those who struggle with showing up as a leader in their business. The same way we do one thing, we do everything. So the lack of leadership will also show up in other areas of a person’s life.
Type of coach to invest in #7
What can a copywriting coach do for you?
Copy is the text used to communicate a message. Being hands-on is a great place to start as a newbie coach. Meaning, getting on calls with potential clients to understand them better. From there, presenting an offer and asking for a sale if it’s the right fit.
When someone is clearer on who they’re talking it to, it becomes easier to book clients in a hands off manner. By then the coach is clearer on their value and who needs it. That’s where copywriting comes in. A copywriting coach can help someone convert clients by communicating their worth.
When to invest a copywriting coach
A business coach should be able to help with basic copywriting. Making room to hire a copywriting coach after already landing a few clients. Copywriting coaches usually offer self-study courses and not 1-on-1.
Oftentimes 1-on-1 in copywriting is a service where you pay someone to write or update your copy for you.
How much to invest in a coach
The cost of coaching varies greatly. There are no set pricing guides on how much a coach should charge. So anyone can charge whatever they want. However, there are some industry standards based on how much coaching costs.
Though the cost can vary, it is pretty consistent no matter what category of coach you invest in. A business coach costs almost the same as a life coach etc.
Let’s look at the expected investment to invest in a coach. This is for someone who is earning less than $10k a month. There are coaches who charge millions to work with them. These millionaire coaches do not work with business newbies.
Cost of self-study courses: $7 – $2,000
Cost of group coaching or mastermind: $79 – $6,000
Cost of 1-on-1 coaching: $99 – $20,000
The cost of coaching depends on:
- The duration of the program
- The experience of the coach
- The results of their past clients.
The investment with a coach usually keeps going up every couple of months. So if you’re thinking about investing in a coach, now is always the most affordable time to do so.