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Munyay Blog

10 Tips I Learned in My First Year in the Coaching Business

Aug 30, 2018 8:30:00 AM / by Graham Honeycutt

Launching my coaching business was one of the most exciting and frustrating times of my life. If you have recently launched your coaching business, or are considering it, this post is for you. Here are 10 tips I learned in the first year in the coaching business.

1: It may not happen as fast as you think it will.

When I started my business I had grand visions of how fast my business would grow. I had no idea how long it would take. It often takes longer than we think. I hear the statistics of how many businesses fail in the first 3 years. I don’t think it is because the business is a bad idea, but more it is just hard work that people aren’t prepared for.

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2: Consistency is a must.

There is power in being consistent. Yes, it is helpful to test different ideas and to be evolving. However, staying consistent with a marketing plan that works will produce results. Consistency is not the sexy way to grow your business, but it is effective.

3. You have to find what works for you.

I bought into a few programs when I got started that claimed they built a big business in a short amount of time by following a set of simple steps. I did everything these programs told me to do. However, it didn’t work for me. I learned that you have to do what works for you. There is not one set way to grow your business. This is why having your own coach is so powerful. It is a completely individualized process that focuses on what works for you.

4. The most effective marketing is service.

My most effective marketing technique has been serving and adding value to others with no expectation of return. I have had the most success giving away e-books, doing free speaking engagements, or giving away valuable content on my blog. This helped me to get to know others and build trust. Other marketing tactics I tried by purchasing ads or selling products were not very effective at all when I was just getting started.

Graham Honeycutt_10 tips

5. Clarity comes with action.

The best way to find clarity is by taking action and continuing to learn. The way I learned my ideal clients and coaching process was by taking clients and learning from them. I learned what was most effective through testing ideas and through evaluated experience. Get in the game and learn on the fly, rather than sitting on the sidelines waiting for the clarity to come to you.

6. It is possible for you.

There were many moments when I started my business that I had doubts. In fact, sometimes I still have doubts. There were definitely moments I wondered if all the hard work was worth it because I wasn’t making any traction. The dream you have is possible if you persevere through the difficult times and have a sound financial plan.

7. Stay in your strengths.

Stay in your area of strengths and be willing to ask or hire help for the areas that you need help in or don’t enjoy doing. Some of the best money I have spent was for a website and marketing service which helped my business grow.

8. Find a supportive mastermind group.

Finding a group of like-minded individuals who can support you in your endeavor is invaluable. If you can’t find one then start one!

mastermind_group

9. Get specialized knowledge.

Be a constant learner in your area of specialization. Reading books, taking classes, and listening to podcasts is a great way to expedite your learning curve. I highly recommend the Professional Christian Coaching Institute if you are considering professional coach training.

10. Serve the person in front of you.

Sometimes when you are trying to grow your business, you forget to most effectively serve your current customers. Serving your current clients well is one of the best ways to grow, as they will help grow your business through word of mouth and referrals.

These are lessons I wish someone had told me when I first started. I hope they help you launch and grow your coaching business!

Topics: Coaching

Graham Honeycutt

Written by Graham Honeycutt

Graham Honeycutt is a professional life coach and motivational speaker. He helps individuals and organizations overcome their greatest challenges so they can achieve success and significance. His coaching journey began when he started writing a blog in 2013 about his oldest daughter Mikayla. She was born with a rare congenital brain malformation called Dandy Walker Syndrome and has significant special needs. Graham lives in Nashville, Tennessee, with his wife Heather who works at Dave Ramsey's company. They also have have twin daughters named Ainsley & Hailey and another daughter named Caroline.