Coaching is a great profession.
Not only do you help transform people’s lives, you also get paid well for doing so.
But there’s 1 big mistake most coaches make that kills their revenue and profit.
This mistake is a big hole leaking money from their pocket.
You might be making this same simple mistake too so read on to find out.
When you stop making this 1 mistake you’ll take control of your time, enjoy coaching even more , double or triple your current revenue…
…and now have free time to pursue your hobbies, have time for your family and even travel the world.
For many, overcoming this mistake can be a game changer. It will be the same for you.
So what’s the mistake?
I’ll reveal it in a moment. But before I do, let me ask you this simple question.
What’s the one thing you love doing the most in your business?
Most coaches will say “interacting and helping clients transform their lives”.
But you see, the coaching business is a business like any other business.
And in business, there are many moving parts.
For example, there’s a part that attracts prospects and turns them to clients.
That part is advertising and marketing.
Another moving part could be operations, customer care etc.
The last part could be the actual coaching.
That’s you talking to clients and helping them change their lives, and achieve their goals.
And this is the part most coaches love.
Now here’s the mistake.
Most coaches try to handle all the moving parts by themselves.
They try to do marketing, copywriting, sales, customer care etc and also coaching.
Are you doing the same thing?
This is mistake kills profit and revenue.
According to expert business consultant, Michael Gerber, in his best selling book ” The E-Myth Revisited “…
… “People make less money in their business than they should – because they are doing the wrong work”
Guess what the wrong work is?
Doing everything in your business by yourself.
And focusing only on coaching.
Here’s another fact .
Not all parts of your coaching business carry the same impart on your revenue. 9
Some parts are more important than some.
So what’s the most important part of your coaching business?
The answer will shock you.
If you know the 80 20 rule, you’ll know that 20% of the moving parts in your business gives 80% you of your profit and revenue.
I hate to say but it’s true.
According to Michael Gerber in his book “The E-Myth revisited”…
The moving part that gives business ( in your case coaching) the highest revenue, is not coaching.
It is marketing and sales.
Proper marketing and sales will drive in 80% of your profit and revenue.
A good coach with no marketing will have low revenue.
An average coach with stellar marketing will make Millions.
It’s a sad fact. But true.
Now imagine a great coach like you having great marketing.
That would change everything.
So what’s the solution?
Don’t try to do everything.
Simply outsource parts of your business that’s not coaching .
Concentrate on delivering the coaching… But outsource the marketing, advertising and sales to experts.
Your marketing and sales is so important.
Just handing over the marketing and working with expert copywriters will zoom your sales, revenue and profit.
And that my friend, is the big mistake coaches make and how to overcome it.
Are you making this mistake?
How do you handle your marketing and advertising?