The 4 Keys to Business Success as a Coach or Therapist

The 4 Key areas you MUST be working on in your business are:

1) Private Clients

This is probably the first thing you thought of when setting up your business, if you are a one to one therapist or coach it is the most common way of making money for your business. Although it can be the largest income stream, it shouldn’t be the only income stream.

If you are a teacher (such as Yoga for example) you still need to consider doing one to one sessions for people who want them. Just teaching classes is only part of the mix of being a successful coach, therapist or teacher.

2) Products

Products are an essential stream of income for your business. They are low cost to produce and once you have made them you will be able to “make money in your sleep”. Not only are they an excellent way of making residual income, they are useful to use as promotional aids, free gifts and “bonuses”.

It is easier than you think to create and sell products, and can be done at home on most modern PC’s or (especially) Mac’s, I will talk you through the process in a later entry.

3) Seminars or Workshops

Maybe you are already a teacher or trainer (such as a Yoga or martial arts instructor, business or personal development trainer), if not you should still consider running short talks and workshops on the subject that you do.

The bare minimum you should be doing in this area is offering free introductory talks to groups or organisation you think would be a good potential client base.

Unhappy with your teaching or training ability? You can invest in “presentation skills training” to help you brush up and build your confidence. They are worth every penny.

Learn more about the presentation skills training here.

4) The Corporate Market

The corporate market is not just for executive coaches or business trainers. More and more companies are employing the services of alternative therapists and coaches to work with their staff.

I know of several therapists who make the majority of their income through corporate clients.

They may employ you directly through the company or offer your services at an “employee benefit scheme” where they pay a percentage of the cost for the staff member.

It is very easy to contact local businesses and offer your services, you can collect information and do a mail-shot yourself (using things like the Yellow Pages) or use the services of a professional mailing company (you can find one with a quick internet search).

The secret to succeeding in the corporate market is to show the benefits to the company (such as higher productivity, less sick days, etc) as well as benefits to the staff members. It is a good idea to be able to quote some studies showing the benefits of what you do to business (again, a very simple internet search will reveal a wealth of information.
In my next few posts I will break down what you must be doing in each of the areas to make sure your therapy or coaching business succeeds.

Matt

Cooperation NOT Competition: How to use Joint Ventures for Your Advantage

Another NLP trainer, Max Watts from Kanousei, rang me up out of the blue the other day. Max had someone interested in doing her NLP Practitioner and Master Practitioner training, but they could not do Max’s Practitioner dates, so she was wondering they could book on my Practitioner training instead.

Now, if you can get round all the scope ambiguity in that introductory paragraph, it is a very nice example of the idea of co-operation rather than competition. It was surprisingly open minded of someone to offer up a potential client or customer to someone else rather than try and keep them to themselves.

The self-help field is cluttered with a lot of people all doing similar things. Some better than others. If you go into setting up your therapy or coaching thinking about competition you could struggle to make yourself heard in all the noise out there, even if you have a fantastic and original niche.

It is much better to look around at the other people in the field you want to enter and consider how you could create co-operative relationships with these people.

It could be about creating a formal partnership with someone, or about creating a working relationship where you pass work to and from each other and team up where required. They could be doing the same thing as you or something that is similar and complimentary.

For example, I have often do work, pass work to and receive work from a network of people I have worked with, experienced and therefore trust.

These include (but are not limited too):

• Hazel Bagley, NLP Therapist and Coach, specialising in addictive behaviour and anxiety www.hazelbagley.com
• Cain Leathem GB Fitness, one of Britains leading Exercise and Nutrition Consultants www.gbfitness.co.uk
• Mark Peters, Balanced Approach www.balancedapproach.co.uk

So, whilst doing your research and developing your therapy or coaching business see who is out there that you could team up, maybe they are doing the same as you want to where you can share clients (and costs), or maybe they are in a similar and complimentary field where you can recommend and exchange clients.

Matt