Invenio: Coaching and Mentoring May 2016 IIC&M - Page 57

STRATEGIES TO COACH with purpose and leverage your capital

by Ken Keis

About 80% of people do not enjoy what they do for a living (the research varies, but this is about the average). That’s four out of five people! Is it possible that we, as coaches, could be a part of that 80%? Perhaps we go through the motions, but we do not necessarily love it as much as we used to—or even at all.

We know the opportunity is there for us to help ourselves and others become successful. But to do this, we need to love what we do, and then we can leverage and strategize our personal capital when opportunities arise.

Here are some tips and strategies to help you coach with purpose, passion, and business success!

Coaching with Purpose

The first focus of your business is not to make money, or even to provide a service, but rather to live your purpose. If your work is not driven by your purpose and passions, then, in my experience, the business is not sustainable over the long term.

If we do not love what we do, working harder and putting more hours into our day will not produce new results. Successful results come only from a change in how, or what, we do. Just

because we have 10 years of experience in a particular field, that does not mean that we should work harder in order to achieve desired outcomes. Instead, we need to diverge ourselves from that background and discover our true passions.

Coaching with Passion

We can’t try to motivate ourselves to work or let other influences affect us in a negative way. As coaches, we need to play to our strengths and our passions. Other customers or colleagues can try telling us to do things differently. However, if we were to listen to everything that everyone

else says about our business, then eventually, the business will not be ours anymore. On the other hand, when our direction is clear and true to us, then we can make the right decisions.

Use your inherent talents and serve as a coach to the clients who motivate you! It’s important not to underestimate the effect that toxic clients can have on you and potentially your other clients. You need to learn how to say “no” to clients who don’t fit into your passion. Keep your business model and stay focused so you can achieve sustainability and success.

Leveraging Your Personal Capital

When thinking about intellectual property, we want to think about how we can repurpose it. For example, we might consider allowing people to engage our content through a different methodology other than coaching—such as eLearning tools, web-based resources, partnerships, telecom training, co-branding, e-commerce, etc. There is software available to distribute knowledge. We can leverage content, relationships, articles, checklists, and handouts.

The highest-paid coaches do not rely on only coaching for pay, but also their additional product offerings and/or additional resources. You must first develop your skill set to get there, but the idea of only being paid to coach is simply too limiting. You can decide what direction your intellectual property takes you, but be sure to investigate what is available and be aware of what you can leverage.

Developing a Coaching Business

Here are some reflective questions and statements for you to consider when developing a coaching business:

Your mindset in how you think about the coaching profession is critical to your long term success. Coaching is a business, like any other entrepreneurial venture.

 Do you think about your business development strategies as much as or more than the

coaching process?

 Do you have a marketing plan and sales funnel in place for your coaching business?

 Do you love sales?

 How are you including the concept of leverage into your coaching business?

 What passive and residual cashflow do you have in your coaching business, independent

of your coaching services?

 How do you add value, or how you are different from (better than) the hundreds of other

coaches in your marketplace?

 The top coaches use assessments as part of the added value and systemizing a process

while creating additional revenue. What about you?