Are you looking at your life as a coach in the short-term or the long-term? What’s the difference you may ask yourself? Consider the following:
Do you find yourself in a position where you need clients immediately to pay bills, rent or mortgage, or for something you want to do for your child, etc.? If you do, it’s probably that you didn’t spend much time looking at and preparing for the long term when you first became a coach. The big question this raises for coaches is:
Can You Give Clients Your Best, When You’re Stressed About Your Finances? Are you at your best as a coach?
Before we look at the example of seeing your life as a coach from the long term, let’s acknowledge something. You may have been an employee all your working life. And, your coach training taught you how to be a great coach. You still need to acknowledge you are a self-employed coach. It’s necessary to learn how to be successfully self-employed. And, let’s acknowledge that this is not what you signed up for.
Actually, focusing on the long term is simple. Start by asking yourself what kind of employer are you to yourself. You can do this. You’ve done it before when looking for a regular job. It’s not hard.
Are You a Good Employer for Yourself?
Think of yourself and your solo coaching career as if you were working for someone else. After all, you are self-employed, which means that you are both your employer and the employee.
Let’s look at you as your employer instead of as only the employee (the coach). (This will depend on the country you live in.) As your own employer you are responsible for the following.
- Paying your salary
- Paying you enough to cover sick days, vacations, holidays, personal days, etc.
- Paying for your own coach
- Paying for your continuing education and training
- Paying for freelancers like web designers, and Virtual Assistants
- Paying for your insurance
- Providing some kind of savings plan
- Providing you with the technology you need (think cell, computer, printer, iPad, etc.)
- Providing upgrades and maintenance for the technologies you use
- Providing office supplies, print cartridges, etc.
- Providing Internet access, cell phone account, etc.
- Remember to include your taxes too
Would you like to really know the business skills you need to be a successful solopreneur? Do you want to be a better employer for yourself as the coach? Learning how to be a good employer for yourself, so you can in turn provide the best value for your clients, is what Business Skills for Coaches is all about.
Long term thinking means knowing what you need to charge so you can pay yourself the salary you need… after you pay your business expenses and taxes.
Once you think long-term, you may want to redesign your offering so it provides enough value that your clients will gladly pay what it costs you to provide that service.
Short term thinking is trying to get any client as soon as possible; trying to help anybody and everybody because you need to make a living. It also includes charging what you think other coaches charge or lowering your fee to what you think the potential client might pay because you’re desperate.
Consider meeting some of your coaching friends for coffee or getting together with them on Zoom.com or Skype. Share your ideas about this topic. Learn from your peers.
You’ll be pleased to know there are 3 ways to learn a few easy skills for long-term thinking about your work as a coach. You can choose between:
- A Virtual VIP Day or 2 half day Virtual VIP days
- One on one coaching
- Webinars with only 5 or 6 other coaches, so you get all the personal attention from me, plus you’ll learn from your peers.
Once you decide to start thinking long term, you’ll be amazed at how easy it is to understand. With help and support from Business Skills for Coaches. Start now for your coaching future. Think long-term!
Click here to schedule a FREE Business Skills For Coaches Discovery Session.