If I started my coaching business all over again, I'd do this... (BEST ADVICE!)

If I started my coaching business all over again, I'd do this... (BEST ADVICE!)

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Very often I get this question, which is "Okay Ajit, I understand that now you're successful and you're showing us all these amazing things, but what if you lost everything and you were to start all over again? The times have changed, would you change your strategy? Would you change your playbook? Would there be any learnings that you'd like to carry forward from today into if you were rebuilding this career as a coach?" And because I got this question so many times, I thought maybe it is about time for me to make this video to share with you what would I do if I were to start all over again? So in this video, I'll like to show you exactly what I would do, what I did last time too, so things that I would keep the same, and I will also show you some of the areas that I believe I should have worked on more, and that would've helped me build my coaching career faster and so you can see holistically for you on what you could be potentially doing right now that will help your coaching career accelerate faster, be able to find more profitable opportunities, be able to get your mindset right, and also to learn from my mistakes and the things that I did right. As you were watching this video, as I'm sharing with you things I would continue to do, things I kind of struggled with and I would now focus on, share with me where are you struggling? Share with me what are some of those areas that I'm highlighting today that you feel like, oh, this is something that I could use help with as well. As you share that in the comment section below, that allows us to create future videos and that helps you in turn to get the information that you need for your coaching career.

Now, before I get into the list of things that I would do differently that you can learn from, one thing that you can learn from is always asking your friends who are watching your video to hit that red subscribe button and that bell icon, so you can get notified every single time you post a new video. And as you watch one of these videos, you know you learn a little bit more. Now as you hit that red subscribe button, become one of our close to 100,000 subscribers that we have on this channel.

Let me share with you the seven key things, key ideas that you should remember if you were building your coaching business. These are ideas that I would use if I was to rebuild my career. The first thing that I do is something that I did do right. You see, when I became a new coach by accident, I chose business coaching as the industry that I would go in. I started working with online businesses that were trying to create education platforms. I started with that field, that niche, because I knew a few people in that field.

And because I knew those people, it was easier for me to get into a conversation with them and to start coaching them. So my field that I accidentally chose, which is business coaching, actually gave me an advantage that I only learned about later. You see, when you are life coaching or health coaching or doing any other kind of coaching, your fee is defined by the person that you're working with. So if you're a life coach or a health coach, you'll probably start your careers at about a hundred dollars an hour to $200 an hour. But when you're a business coach, it is not one person that decides your fee.

Your fee is very much decided by a group of individuals. Sometimes it's the HR team. Sometimes it's the strategic group. Sometimes it's the leadership team. And because it is decided by a group of people, it tends to be based on many different understandings of how much a person should be paid.

Often in a business setting, you are paid because of the kind and quality and size of results that you can create for them. For example, if I would go into a business and the potential of my coach consulting with them, they can generate an additional million dollars. It felt really easy for me to ask for a 50,000 or a hundred thousand dollars fee and it was really easy for them to say yes, because they saw the upside was that they were making almost a million dollars or more because of my coach consulting. You see, in a business environment, it's easier to charge higher fees because it's directly associated to the return on investment.

So if you feel comfortable and confident in reaching out to businesses and working with executives, you will find that you have entered into a really profitable niche and that really worked out for me very well. It gave me a lot more confidence and a lot more income almost off the bat, but working in a business also leads to certain really challenging situations. You see, when I started coaching for the first time in businesses, I had a little bit of understanding of business, but I didn't really understand the complex environment of a business that is different than what I had created. And that led me to have a lot of failures very early on.

A lot of the businesses that I first coached didn't really follow through as long term clients. A lot of them lost interest in my coaching in the first two or three months. So my second piece of learning or thing that I would do differently is instead of just winging it, I would do a structured program, a structured course that educates me on how to coach businesses, how to work with businesses to create better results with them almost immediately. While certification is a personal choice for anybody to make, if I was to restart my career, I would probably start by working with a company or a person that I trust, can create results for companies outside and learn their system in any way possible. I would like to learn from a program where they also provide me tools and systems that I can deploy across the business. You see, a good business coach is not limited to one dimension of the business.

They can give feedback to different elements of the business because a business or a successful business is not only defined by marketing success or finance success. It's an integration of people, culture, team, systems, marketing, finances, and so on and so forth. So a holistic business certification would have been great for me when I just started coaching. On that note, I do wanna remind you, this is the final week of enrollment for Certified Business Coach.

Certified Business Coach is years and years of my coaching experience distilled into a simpler certification program. This is a certification program that I created so you don't have to repeat the mistakes I made when I first started coaching businesses. After taking this program, most of my students have been able to go out, create additional income for themselves, or go back to their companies and actually become a really impactful person within their organization. So if you are an internal coach, an external coach, if you're somebody who's transitioning careers, if you're somebody who wants to be an internal coach to your company, give Certified Business Coach a look. It's a highly rated program that also gives you the capability of not only coaching people inside a company, but also consulting them to be able to create a larger impact across the organization.

The third key or the third thing that I would focus on that I didn't give enough attention to was engagement and enrollment. You see, I fell for the same trap that most new coaches do. We look at all these amazing online properties, great content designers, great webinars and we feel, well that's the way how you can really have enrollments. And it sounds fascinating and it sounds really enticing because it looks like you'll create a webinar one time, and then everybody's gonna show up and you're gonna have an abundance of clients. Well, that's just not how it works when you are a new coach. When you don't have an existing audience, the best way that I think one should start is to engage in a real conversation, engage in a real dialogue with a company and based on the dialogue, create an enrollment.

I made this mistake like everybody else, where I went out and created a webinar and tried to enroll thousands of people through that immediately as I became a coach only to realize that the best work I do is when I get to sit down with someone and really have a deep, meaningful conversation and it automatically creates enrollments for me. And so I would advise you like I would advise myself to not fall for the trap. Don't fall for creating social media accounts and be in every webinar possible or tell some of that possible.

Instead, focus on engaging and then enrolling one client at a time. The fourth thing that I would change if I was to restart my career today, and I advise you to do the same is to charge more than what you're currently charging. Now, it sounds like a really generic advice.

Just charge more, but let me explain. When I first started coaching, I thought $10,000 for a year was an insane amount of fee that I was going to charge someone. So when I first started reaching out companies, I started proposing my rate as $10,000 a year. I would do about 50 some calls with the business over the course of a year and I thought if I get 10 clients, I'll make a hundred grand. And that seemed like a good and solid strategy until I met one gentleman. One time when I was in an event and I was pitching my offer to this one person that was sitting across me who was the CEO of the company that I was pitching to and I said my fee out loud, I said hey, it's $10,000 for a year.

And I thought I was being really like on the top end to be able to ask for that. And the person looks at me and he kind of like gives this confused look where he was like not sure what he just heard and he said, tell me again. I said, well, 10,000 for a year, but if you need a payment plan, I start hedging. Like, if you need a payment plan, I can give you a payment plan.

And this person says, oh no, oh no. Did you just say 10,000 a year? I was like, yeah, like I said, I can give you a payment plan, that's okay. And he said no Ajit, do better. And I was kind of confused.

Nobody had told me to just do better before in my life. And so after kind of reflecting on that for a hot second, I went, okay, it's $15,000 for a year. And I thought I was being like crazy to ask for $5,000 more than what I had previously. It's 50% more, like it's almost 1.5X my fee.

And I was like, eh, I don't know. Maybe that's what he wants. He wants to pay more. Sure, I'll pay more.

Maybe I'll add some calls to it, which I didn't say at the time, but he looked at me and he was like, oh wow. Okay Ajit, do better, do better. And I was like, oh, I don't know. What do you mean by do better? I don't know what this guy is saying. And so I kind of all lost and confused.

I said under like biting my tongue almost, I said all right, fine, it's $20,000 a year. And then he face palms himself and he rubs his face and he goes, oh my goodness, you are... Oh my goodness. Do better Ajit, do better.

To be very honest, at that point, I thought this guy is just messing with me. He's not really meaning this. He's just gonna laugh off whatever I say next and he's gonna walk away. And in my head at that time, I was like he's just pulling my leg.

He's gonna not sign up. This is silly, this is stupid. But I am in it anyways, let me just say the next number that comes to my mind. And I said fine, it's 25,000 a year. And he says, I think you can do better, Ajit, I really do. I'll pay you 25,000 and we'll work for a year.

I'm gonna send that money in, give me your wired details and we'll do this deal, but I really want you to work on it. You can do better. Now, there were two things that I learned that day. And one was information of what I already knew and second one was new learning. The affirmation that I had was there are kind people in the world and they are an abundance.

They're always around you. It is sometimes they will show that kindness and sometimes they will not. In this moment, this gentleman showed his kindness. He said, you could do better, you could do better, you could do better. And he got me to go take my fee from 10,000 a year to 25,000 a year in about 15 minutes. And so I was able to increase my fee and realize how much more you can charge if you place yourself right, if you have the right conversation, if you have the right attention, if you have the right audience, if you have a system and you have tools.

And so firstly, that was amazing and I'm so grateful that that person was kind enough to push me to a good fee structure. And you will not always find that, but I found it and that's why I wanna share that with you, that there are kind people. And second thing that I learned is that you can do better. I can do better. You can do better.

And next time I want this, maybe it's my voice that will go in your head, is next time when you get in the enrollment, the next enrollment you apply for, the next enrollment you're talking about, or next person you're talking to enroll, bump up your fee. That's what I did. I started my coaching with 10,000 a year.

Currently my fee is about $2,300 an hour, $2,300 an hour and nobody can sign me for an hour, you have to sign me for a year, which means your fee is going to roll into hundreds of thousands of dollars. But I started at $10,000 a year and somebody told me to do better and I kept doing better to get to this place. What I am not saying is you jump your fee to a hundred thousand dollars today. What I'm saying is like I could do better, you can do better.

And so ask yourself, what's my better version of fee I can push to? What's the next level I can get to. And when you'll attempt to do that, which is to break your money ceiling as we call it, you'll find your mindset and your self-imposed ceilings are gonna come up. You will find a money ceiling. You'll find a confidence ceiling. You'll find many different limitations that you'll put on yourself that anytime you go beyond that limitation, or try to push through that limitation, you're met with resistance that you cannot really get past it without some meaningful work and that is where my next learning comes from, that my next advice to you will be, as you're building your coaching career is focus on constantly working on yourself. One of the reasons why we get into this career of coaching is because it's a growth opportunity.

We grew from some place to another place, but then because we are so much into the grind, we forget about the growth. And if we don't work on that growth, we will constantly to hit that ceiling. So ask yourself, what are you doing today to get past your money ceiling, get past your confidence ceiling, get past your enrollment ceiling, whatever that limitation, that ceiling that you put on yourself consciously or unconsciously, how are you breaking past that, how is it that you're creating the next version of you? Then my invitation of you to stay in an environment that gives you that conditioning, that space to always consistently grow. One of such spaces, of course, is Certified Business Coach for which all information is available below this video. The enrollment happens only this week. And that brings me to focus on transformation, not information.

I would focus on the results that I create for a client, not the information that I provide to my client. You see, I realized initially  when I start coaching, I thought  it was all about information. If I gave them a new information or piece of information, it would like break their reality and then they will be able to create so much more. And I have found that well, that sounds really fascinating. Most people, even if they get new information, will not be able to take the necessary steps because they are not bought in to the information.

They just have information. It's like knowing what diet to eat, but not following the diet. Knowing what to do as a business strategy, but not following through on it, knowing that you need to do something, but not doing it.

And that happens all the time. It happens with me, it happens with you. It happens with our clients. So our focus, our focus must not be how can I give you more information or different information? The focus must be, how can I create transformation? See, a good coaching program, a good coach focuses on the basics and the reason why they focus on the basics and the fundamentals if I may is because when you focus on the fundamentals, you will find that you simplify everything. And when you simplify everything, it is much easier to cause a transformation or help create the environment that will cause the transformation and sort of just dispelling more and more complicated information.

So my invitation for you is don't get sold into all the jargons and big ideas, focus on what's the fundamental, what are the fundamental steps that we need to take and how can we build from there? That is how I was able to coach companies that were far more successful than anything I've ever built. They were larger in volume, they had bigger teams, they had more complex systems, but I was able to always add 30 to a hundred percent to their revenue or their profits, depending on what they really wanted in their careers, in their businesses. And the reason was very simple, because I worked off foundations and because I could simplify everything in a business, I could help them see what they could not see. You see, one of the keys that you will find has created successful companies is the ability of the founder, of the CEO, of the entrepreneur to take really complex problems and break down into simpler elements. It even has a name, it's called first principle coaching. And that's what we focus on.

We focus on teaching and working towards first principle coaching. How do we break down a really complex people problem or a systems problem, or marketing problem into foundational elements. And as we find the foundational elements and build from there, we have a better strategy. We have better people structures.

We have better relationships within teams and better cultures that are being built. And because of that, we have more successful companies. I remember one of our past graduates, a Certified Business Coach, who had been a marketing consultant for 10 years.

Her name is Elisa Tidswell. And she said, "Ajit, I've been a marketing consultant for 10 years. I have actually helped companies build marketing plans for 10 years and I came into Certified Business Coach because I wanted to also get a coaching certification alongside my consulting certification. And I came in and I watched your marketing module and I thought I learned nothing in 10 years.

And it was not because I presented a more complex piece of information, but because how simple marketing really is when you look at it from a foundational element." And that's not only true for marketing, it's the same for teams, it's same for cultures. It's the same for processes and systems. So even if you're not a business person, you can be a business coach. You can be a business consultant because you can break down really complex things.

The simpler things that make sense to you makes sense to me, makes sense to everybody and now we can build together a solution. You see, you will never find a company where people are less talented than you in the company. That's not why they hire a coach. They don't need more talented person to come in. They want a person that can change the perspective. They want a person and that can help them look at things differently.

They have the talent to run the company. That's why they got where they got. They have the marketing genius, they have the product genius. They just don't have perspective. And our job as coaches into these companies is to add that perspective.

You coach the person and you can solve a problem. And that brings me to the final thing that I think is important to know if you were to start your career again today, if I was to start my career again today, and that is to really commit to my dream. You see, I had the dream of having a very freedom centered coaching business. I've always been a person that appreciates freedom a lot. And so when I was building a coaching business, I was kind of unsure of will it take away all the time and will I be able to have time for my family that I really wanna build and be able to have fun and hang out with my friends and have the travel that I want and so forth. And so when I first started working on my coaching business, I kind of didn't really commit to my dream.

I kind of said yeah, whatever comes and I'll throw things at the wall and see what sticks or not. And then only in time, I realized that if I don't commit to this dream, I will never be able to create for this dream. So once I committed, I said, I want a freedom centered coaching business.

And like I posted a video a few weeks ago, I was able to create... I run a coaching business right now that is very freedom centered. I was able to generate $230,000 last year by putting hundred hours of coaching. And this is 1-on-1 coaching. This is not my group programs. This is not my programs, this is nothing else.

This is just my 1-on-1 coaching that I do with only three, four clients a year and I am able to generate a very freedom centered coaching business that can take care of my bills because I'm also a minimalist. I don't really need a lot of money, I need very little. I could probably get by with half of that that I made as a coach.

And so I was committed to that freedom though, and I never really committed to that when I started my coaching career. I thought I had these ideas of what I wanna build, but I never really said I am building it. So that's one thing that I think makes all the difference and I think that is gonna make all the difference to your coaching career as well is to not have an idea that you'll be a coach one day.

Commit to being a coach today. If you are a coach, commit to the growth of your business today, or more impact for your clients today, to the freedom that you want today and as you commit to it, you create the action, you create the mindset, you work on all of things for you to be able to have that in your future, to have that in your reality. So my invitation for you is to commit to your future in the way you wanna have your future. I am so very excited to hear which of these seven ideas really stuck out for you, which of these seven ideas you were like hmm, that really stood out for me and that is what I'm working on right now.

Here are the seven ideas that we talked about. The first idea we talked about is to start in the business industry or become a business coach. The second key idea we talked about, and instead of winging it to get a real certification from someone or somewhere, which is proven. The third thing that we talked about was how to learn engagement and enrollment for clients.

The fourth idea that we talked about was to charge more than what you're currently charging. The fifth idea we talked about is to constantly work on your mindset around money, learning, confidence, enrollment, and so forth. The sixth idea we talked about was to focus on the results or transformation for your clients and not information. The last idea that we talked about was to commit more to your dreams. Which of these ideas stuck out with you? Share with me in the comment section below.

If you love this video, don't forget to hit that like button. Thank you so much for tuning in. This is Coach Ajit and you're watching this on Evercoach.

2022-04-23 12:21

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