Ever wonder why some start-up coaches successfully launch and grow their coaching business, while others stay stuck in start-up mode for months and months or even years?
I recently discussed this with one of my besties Melinda Cohan, co-founder of the Coaches Console, who has discovered that most coaches fall into one of two categories: Hobbyist or Business Owner.
Which one are you?
Here’s a helpful article that will help you find out!
Are you a Coach “Hobbyist” or “Business Owner”?
By: Melinda Cohan, Co-Founder The Coaches Console
As a coach, are you a Hobbyist or a Business Owner? Do you even know?
Understanding the distinction between a Hobbyist and a Business Owner is a crucial step in your coaching journey. Failing to understand it may cause you to hit the upper limits of your success without you even realizing it … and no matter how great your efforts, you will not see the results you desire.
Take a look at the points below, which outline the distinction between Hobbyist and Business Owner in several key areas of a coaching business, and see which category you fall into.
The Coach Hobbyist
Hobbyists have a general direction and grasp the idea of business discipline, but tend to think it’s too early to get their business fully under control – or feel they don’t have the time. Their planning, goals, priority setting and sense of business purpose tends to be unfocused and is often difficult to understand. Here is how the hobbyist approaches the business of coaching:
- Business and client support is reactive versus proactive. Hobbyists figure out the answers as they go.
- Jack of all trades, master of none.
- Provide support to clients on a situational basis. Things are unique to each client and situation, and often done differently each time. There is customization in how hobbyist coaches support and work with their clients because hobbyists only coach when they want to coach.
- Run their business manually with limited technologies and support resources.
- Coach few clients and continue to dream of having a deeper impact on the world.
The Coach Business Owner
Business owners, on the other hand, can clearly define how they will make a difference in the world and who they will serve. They know it takes a thriving, profitable business to create that difference. Far more than hobbyists, they have practical, well-grounded faith in the discipline and the systems that build greatness in any business. They are clear and specific about their strategies, priorities, choices, goals and even the words they use. Here is how the business owner handles the business of coaching:
- Build a strong foundation up front for their business.
- Collaborate with great people to leverage their own time.
- Use the right technologies, tools and resources to simplify and automate tasks that don’t produce new business directly.
- Use effective internal systems.
- Use their systems consistently.
- Coach more clients, make more money, and make a far greater difference in the world.
Now, both Hobbyists and Business Owners can be great coaches. They just have different mindsets, actions and goals for their business.
In the 14 years since founding The Coaches Console, we have learned that Hobbyists have the dream, but not the discipline.
Business owners are different; they take disciplined action to make their dreams – and their clients’ dreams – come true.
It’s vital to your success to know which approach you desire and which approach you are taking each moment. Otherwise growing your business will seem like you are pushing a boulder up a hill.
So, are you a Hobbyist or a Business Owner?
Are you reaching the level of success you desire? Are you making the impact you want to make?
If you are, then exactly where you are is perfect, whether you’re a Hobbyist or a Business Owner.
If you’re not, take a closer look at the distinctions between Hobbyist and Business Owner to identify where you are and where you want to be.
Then, place your attention on closing that gap, by leveraging your time and resources to get the best possible results. Create systems that generate consistent outcomes in each specific area of your business (enrolling, onboarding, supporting, list-building, etc.).
How do you leverage your time and resources? Ask yourself how you can streamline, organize, and/or automate your business’s back-office tasks so you can free up your time to focus on doing what you love while powerfully serving more clients and scaling your business.
As you move from Hobbyist to Business Owner, you’ll start experiencing the level of success you envision for yourself, while having the desired impact you wish to have on this world.
About The Author – Melinda Cohan – Serving the Coaching Industry for 14 Years
14 years ago Melinda Cohan & Kate Stebacher founded The Coaches Console and since then they’ve shared resources and trainings with more than 58,000 coaches around the world to start and build their coaching businesses.
They both started out as coaches – and are still coaching. Their ultimate mission is to get the world coached! As they help a greater number of coaches to have thriving, successful businesses, the more clients are reached and coached to success … and a bigger impact is made by all.
Which category are you in, Hobbyist or Business Owner?
I’d love to hear from you! Which of the distinctions mentioned above is getting in the way of you being the best business owner you can be? Is anything keeping you “stuck” in Hobbyist mode? Post a comment below.
Here’s to being a true Business Owner!