We’re talking about some of the reasons why coaches fail.
A great client of mine, Simon Reynolds, wrote a book called Why People Fail. There’s a lot of books about success but very few about failure. The idea is, if we could learn from our failures, we can avoid them.
That fact is, 81% of coaches never make it past year three. This is what happens to them:
Go Broke
Most of them go broke. They never quite make enough money or generate enough sales, so they go back to their previous lives and get a job — proving their friends and family right that they never had what it takes, or it was a stupid idea in the first place.
Burn Out
While some coaches go broke, others burn out. They get a bunch of clients and work really hard, and eventually, they run out of steam because it’s really hard to scale. The more clients they get, the less time they have. It’s really difficult to trade time for clients in the long term, so they either go broke or burn out.
Disappear
Either way, most coaches disappear after three years.
We want to fix that.
I want to let you know upfront that your mindset has nothing to do with it.
As coaches, we have a lot of mindset skills. We set goals, let go of certain beliefs, and create a long-term vision for our coaching business. Those things are awesome, but frankly, the biggest thing that’s holding coaches back isn’t mindset — it’s the business model.
We need to build a business model that can scale.
So, here’s the question I asked these guys…
If your business 10x’d tonight, what would break tomorrow morning?
For most coaches, the answer is “me”.
So we need to build a business coaching model that could scale as you grow your marketing, sales, and delivery.
Which one have you been closest to? Going broke or burning out?
Hopefully, none of you guys are in that situation right now, but which one nearly got you? Leave a comment below.
P.S. Whenever you’re ready… here are 4 ways I can help you grow your coaching business:
1. Grab a free copy of my book
It’s the roadmap to attracting prospects, signing clients, and scaling your coaching business. — Click Here
2. Join the Coach Dojo and connect with coaches who are scaling too
It’s our new Facebook community where smart coaches learn to get more income, impact, and independence. — Click Here
3. Join our Implementation Program and be a Case Study
I’m putting together a new coaching case study group at Black Belt this month… stay tuned for details. If you’d like to work with me on your client-getting and scale plans… just send me a message with the words “Case Study”. — Click Here
4. Work with me and my team privately
If you’d like to work directly with me and my team to take you from 6 to 7 figures… just send me a message with the word “Private”… tell me a little about your business and what you’d like to work on together, and I’ll get you all the details! — Click Here
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