To manage a side hustle like, coaching business while working full time requires two very important skills i.e. time management and patience. At first glance, both coaching business and mentoring have the same ideology which is to support the personal or professional growth of a client. Though on a closer inspection, coaching is more performance-driven and focuses on improving the on the job performance; while mentoring is more development-driven taking a holistic approach to character development.
When starting a new business one must have a clear vision of the idea of business along with the practical future results one expects out of the business. There are five key steps to establishing a successful coaching business. These steps are time-consuming and require patience however to help boost the process these steps include hacks as well to make the process easier.
Building a Brand
To build a brand one must have a clear vision of what they have to offer and what outcome they expect from their services. Building a brand requires complete research of the target audience, creating a unique identity among the audience using a special logo, different colors, themes, etc.
It is observed that identifying where the customer is, defining who they are, using a choice of voice, and defining a message with relevance are of great support in creating a brand name. Building a brand is a different process and has many steps that are required to be carried out accordingly.
Conducting Discovery Calls
The term ‘Discovery Calls’ is used by professionals in business coaching services and can also be easily understood by the term ‘sales call’ although the format of this process is quite different as in this step during a call one must take lead in the call and set a clear state of authority by having a set of questions prepared beforehand to ask the potential customer to access their weak points aiding in making strategy and understand what they are dealing with. This call also helps in better understanding the results a potential customer desires.
After the call is completed the problem of the customer and desired outcome is successfully diagnosed one must not concentrate on making the sales rather the center of attention must be making the call valuable for the potential customer and suggesting better alternatives if the services provided by self are not effective for the identified problem as it helps in creating positive testimonies required for promotion.
When the business pays it is smarter to invest it back in the business by purchasing virtual assistance, website development, assistants, advertising, etc; in order to save time and attract possible clients while one is investing time on the full-time job (if the business has turned to a full-time job! It helps in attracting more business).
Automated systems working full time responding to customers and potential clients instantly scheduling one on one interaction appointments and answering common queries instantly. This helps in assuring the customer that their query will be answered soon and also provides them with an estimated time when they can clear their schedules and have a genuine and non-rushed conversation for them to find the proper and valuable solution to their problem.
Know Your Worth
Raising your price but not the client load is important and doing it smartly is important. In a limited time there is only so much a person can do that includes giving valuable information to people i.e. provide consultancy to people; so, who and where you are investing time and how valuable and effective the information they are sharing is. The extra work involved behind all this is also to be taken under consideration after all a business doesn’t run itself.
Working as a full-time mentor and starting a consultancy business are two very same yet two very distinct work profiles and require additional knowledge in some fields. The plus point is that the basic knowledge is nearly the same between consultancy and mentoring as the basic idea is the same between the two and it also helps in keeping the person habitual of attending discovery calls and closing of clients. Although time management and careful scheduling of appointments are very important.
Prioritizing the work plays an important role as well because one cannot slack off in either of the jobs as both must be given equal importance. Creating a to-do list helps in eliminating distractions and making sure that all the important tasks are accounted for and completed. Juggling two jobs can be quite hectic as it packs the entire schedule and leaves little to no time for personal work and rest so one must have a proper schedule and must train themselves so that work-life balance is also maintained.
If one still feels the need for more assistance in establishing their online coaching business then Classplus is here to help. Get access to your own app where you can manage all your coaching related matters. Conduct live sessions for your students with ease, share pdf and notes and much more. To know more about it, get in touch with us.