The #1 Secret to a Successful Coaching Business

The Biggest Mistake Most Life Coaches Make That Prevents Them From Making the Impact and Income They Desire

When you start a life coaching business, your goal is to support your coaching clients, while also growing a successful business.

But, many life coaches make a crucial error that stunts the growth of their business:

They don’t hire a coach or mentor for themselves.

But, why is a coach or mentor the #1 secret to build a successful coaching business?

There are distinct, proven benefits to working with a mentor or coach. It’s more impactful than your business structure, which social media platforms you use, or even what life coaching services you offer. Mentorship makes the difference.

5 Benefits of Having a Mentor

1. People with supportive mentors and coaches are consistently happier in their careers than those without (Forbes). A person invested in your experiences as a coach or entrepreneur will help you feel more supported and confident.
   
2. Studies show that 84% of people who have a mentor or coach report greater inspiration (Women Ahead). They are more excited for their current work and for exciting new ideas and opportunities.
   
3. Business owners with a mentor or coach have a greater sense of meaning and purpose (Harvard Business Review). Many are inspired to become successful mentors themselves as they continue to grow.
   
4. Individuals with mentors and coaches are 5x more likely to experience career success and achieve their goals (Wharton Business & University of Pennsylvania). There is exponential power and potential in partnering with those who have accomplished the goals you want to achieve!

But for those of us whose purpose in this life is to help others, there are other reasons mentorship is one of the most effective strategies for success

1. Model Transformation

I truly believe that life coaching is a sacred calling.

And while anyone could pursue starting a coaching business, those who experience the greatest success are those living in alignment and integrity.

Life coaching is a vocation that requires continual growth, not only from the clients you serve, but also from yourself! To model ongoing transformation for your clients, it’s important that you are continually learning and growing.

One of the best ways to exercise your commitment to growth is to have an experienced mentor in your corner.

2. Fastest Path to Growth

As a life coach, you’re continually inviting your clients to pursue the most effective pathways to transformation with you. In fact, one of the greatest benefits of high quality coaching is access to a proven system of transformation.

Why?

Because high quality systems like those we teach at Brave Thinking Institute are often the fastest route to results!

Showing up in your life coaching career with integrity means committing to the same for yourself and your business.

Afterall, you could invest months, years, and even decades trying to build a successful life coaching business on your own.

But trial and error is the slowest, most costly way to grow your business.

Ask yourself this- What would you tell your clients to do? Guess at what might work? Or would you encourage them to take advantage of the tried and true solutions available to them?

3. Build Trust

Think about this for a moment…

Why would clients trust the coaching process if they don’t see that you also trust it to improve your life?

When you’re speaking to prospective clients, it is an enormous point of trust for them to know that you also have a coach.

Clients can confidently sign on to work with you knowing that you are expanding your skills and committed to accountability.

Additionally, associating with a respected mentor can enhance a life coach’s credibility and reputation in the field. These coaches are more easily able to build their audiences and build an additional layer of trust with ideal clients.

Investing in a mentor transformed my entire life, both personally and professionally

I started studying transformational principles in 1971. Ten years later, I decided to fully dedicate myself to helping others. At the time, the term “life coach” wasn’t a term most people had ever heard before!

In those days, if you said you were a coach, someone would reply, “What sport?”

But as a trained educator and psychologist who had been studying and applying transformational principles, I wanted to open a business that merged all of the things I had learned on my journey.

I was deeply committed, but the first five years of my life coaching business were a struggle.

I knew I had a calling to help others, but I didn’t know how to use my skills to make a living.

Then, I found someone who was already doing what I wanted to do with success.

In a conversation, I asked him to help me understand what I was missing in my own business.

He replied, “I can help you, but not in a single conversation. It’s going to take some time.”

That man was Jack Boland, an extraordinarily gifted teacher who only ever mentored three people: Wayne Dyer, Les Brown and myself.

I invested in five straight years of mentorship with Jack.

I worked with him until he passed away, and then I continued working with other mentors.

As a direct result of the mentors I’ve had in my life, I’ve built several multi-million dollar businesses. Two of which are multi-million dollar coaching businesses established in the last five years and serving many, many people.

Coaching and mentoring is the best investment of time and money I have ever made, and keep making, in my life.

That investment keeps yielding dividends year after year. In turn, I attract clients who are willing to invest in themselves because I am. 

Be the type of client you want to attract – someone who is willing to invest in their own growth

If you want to reach people and make a difference, I highly encourage you to invest in a coach or mentor who is experiencing the level of success you are striving for.

A great coach and mentor will support you in making the impact and earning the income you desire, and will help you avoid mistakes and obstacles along the way..

And of course, the more successful your business is, the more people you can serve and help.

For step-by-step tools and proven strategies for starting or growing a highly successful life coaching business that makes a profound and lasting difference in the lives of others, click here to download my free ebook, Are You Meant To Be a Life Coach?