How to Grow a Coaching Business: Tips for Success
As a coach, your mission is to help businesses and individuals reach their potential and surpass their goals. However, coaches often find that they do more for others than for themselves. It’s important to remember that your success not only helps others thrive but also serves as a testament to the strength of your coaching.
You may have already done your research, found your niche, written your business plan, and established yourself as a coach. Now it’s time to grow what you’ve built into something even better. The foundation for growth is already in place: The U.S. coaching industry grew its market from $707 million in 2011 to $1.34 billion in 2022. An increasing number of organizations (33%) have a dedicated budget for coaching — an increase of 25% since 2019, according to the 2023 Defining New Coaching Cultures Study from ICF and the Human Capital Institute.
Four Effective Strategies Coaches Can Use To Grow Their Business
Grow Relationships First
Focus on cultivating relationships, specifically with other coaches and your clients. Building a network through personal relationships with other coaches will accelerate your growth, allowing you to learn from their successes and move beyond your blind spots to discover new ways of thinking and approaches. Establishing rapport with coaches in different niches can also lead to client referrals. Good client relationships often result in excellent testimonials that validate your work and enhance your business’s reputation.
Become a Thought Leader
Produce valuable content and share your expertise. Creating a solid thought leadership program for yourself or your coaching business can attract the right kind of clients in your niche. Begin by engaging others via social media and creating a blog. Utilize platforms like LinkedIn, Twitter, YouTube, and email to help you generate leads and provide value. In time, consider adding online videos, podcasts, webinars, or workshops to your offerings. Public speaking is another way to establish yourself as a thought leader. Expand your scope as much as possible. In doing so, you’ll strengthen the relationships you’ve built and position yourself to deliver value and showcase your expertise.
Engage the Media
Create a media outreach plan that positions your coaching business as a go-to source for guest blogging, industry articles, bylines, and fresh content. Focus on concise pitches that reference an article from a specific reporter. When engaging with the media, highlight your credentials and outline relevant topics for which you may serve as a source. For more information on building a pitch, tailoring your information to specific outlets, and getting the most from your outreach, refer to ICF’s PR Toolkit.
Commit to a Realistic Scope
Set short-term deadlines that will translate into more long-term plans, and strive to stay the course while you await results. A five-year business growth plan is standard, with built-in timeframes to measure progress and goals against the plan. Success can be measured using SMART goals — Specific, Measurable, Achievable, Relevant, and Time-bound — providing a framework for growing your business. The framework should remain adaptable and scalable based on your goals. Your efforts to build your business will have the most impact when sustained over the long term, but that is only feasible if you do it at a level that is realistic for you.
Commit to Growing Your Reputation and Your Business
Remember, you’re not just a coach — you’re also a businessperson. As you build your coaching business, prioritize growth. Investing in yourself and expanding your client pool is a recipe for success. Grow relationships and build your personal network. Establish yourself as a thought leader. Use the power of the media in all its forms. Set realistic goals for yourself. Positioning yourself as an expert is a powerful strategy. Be persistent, engaging, and thoughtful, and you’ll be well on your way to success. Good luck!
Meredith Pratt (USA)
Meredith Pratt (she/her/hers) is a freelance journalist and consultant at Stanton Communications. Her work has appeared in Frommer’s travel guidebooks, the American Library Association’s conference magazine, WebMD, the Magazine, Washington Flyer, Home & Design, and other regional, trade, and online publications. She lives in Silver Spring, Maryland. (USA), and is the mother of three girls.
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