Should I Become A Coach?
The Realities of Becoming a Professional Coach
SUMMARY
John and Angie discuss the challenges and rewards of becoming a professional coach. They highlight the personal and professional demands of coaching, the importance of realistic expectations, and the need for thorough preparation. The conversation underscores the differences between coaching, consulting, and mentorship, emphasising that coaching is not a quick or easy path to success. The hosts also touch on the high failure rates in the coaching industry and the misleading marketing tactics that oversimplify the process of becoming a successful coach. They conclude with a call for aspiring coaches to deeply understand their motivations and readiness for the role.
CHAPTERS
00:00 Introduction and Personal Insights on Coaching
00:30 Challenges and Realities of Coaching
01:57 Starting a Coaching Business: Expectations vs. Reality
03:42 The Entrepreneurial Shift: From Employee to Business Owner
11:36 Financial Considerations and Transition Strategies
16:09 The Harsh Statistics of Coaching Business Failures
19:25 The Importance of Genuine Passion and Experience in Coaching
27:03 Conclusion and Call for Audience Feedback
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2023 Present Influence Productions The Coaching Clinic: Grow Your Coaching Business & Master Coaching Skills 74
Transcript
Should I Become A Coach?
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Angie: [:John: Angie.
Angie: So as someone who's already a coach, I can honestly say it's a fantastic opportunity for personal growth and to help others reach their potential. Um, I feel like coaching allows me to make a real difference in people's lives and develop my own communication and leadership skills. Plus the sense of fulfillment I get really helps me when I see the progress.
Angie: Um, it's genuinely rewarding for me.
John: I, I, I would agree with that, Angie, and, and from my own experience that I think it's important to consider the challenges as well. This part is not for everyone actually seen that very clearly With someone I worked with this week, it requires a lot of patience, a lot of empathy, and we both know that there are times when you deal with setbacks or slow progress.
And if you're not prepared, [:Angie: Yeah, that's really true. Coaching demands a lot from you both personally and professionally. Uh, for those passionate about helping others and open to continuous learning, I think the rewards often outweigh the challenges I found that go, that going into coaching with like realistic expectations and a willingness to grow alongside my clients makes the difference.
Angie: But I didn't know that in the beginning.
John: Yeah, absolutely. The real question isn't just should I become a coach, but am I really ready for everything that that involves? And so it's important to not just reflect on your motivations, but really whether you're prepared to face both the rewards and the difficulties, but come with this role.
nd I have talked in the past [:Angie: I think what you said is really important about the demands. It's very hard to like to, uh, anticipate those.
John: I, I do think as well that there are so many people, and we have tapped this on there, but there are so many people who are saying, oh no, become a coach. If you dunno which way you'd like to become a coach, become a coach. It's like it's all, all over the place. Um, start making, you know, start your six figure business as a coach.
John: Start making wherever a
here for a minute because we [:John: but I understand that, that that is the thing of, uh, well there's something that is, is very low barrier to entry industry and that people say, oh, like, well, yeah, this is the potential of what we can offer you, so we're gonna advertise it as you can come and be a six, seven figure coach with our method and blah, blah blah, and come and start the coaching business.
John: And then the reality of that. When it hits for most people recognize some point, they start to recognize they may have made a bad decision and may have invested significant amounts of money in a career that might not even be. Right for them. Fir, first of all, there's this whole thing of making that move from being an employee that many people do to.
coaching role, that's a bit [:John: As a business owner, you do need to know what you should be doing every day. But there isn't somebody there to tell you that. There's no manager who's gonna call you into the office and say, Hey, you are not delivering. And there there's, there's no one who, uh, is gonna say, Hey, you've done a great job as well.
John: When, when you have, so
Angie: there's, yeah, I think you're touching on the, so there's so many facets. It's like any business, I don't care if it's a brick and mortar or if it's something like this where you can work remotely. You have to do all the preparation. You're selling a product. You have to decide what the product is.
further. I feel like if you. [:Angie: If you really genuine, don't do this. I'm gonna say this and people are gonna come at us. You know that. 'cause I don't usually say to do or not do.
John: let them
t become a coach because you [:Angie: You know, we're a huge organization. Now, there are benefits to that. You might have some really great connections to people that the average person may not have. But if you're still not good at your craft. That will eventually fizzle out. It always does. I have coached coaches a lot that are in that space where they're kind of like, oh, you know, it was so much easier in the beginning, which is not something we generally hear, right?
Angie: More people struggle in the beginning because the idea is exciting and it's like, I can help. I have something to offer. If there is not an excitement and if there is not a passion in coaching. Consulting is different. So we've talked about the differences, but don't do it because you're going to waste your time.
Angie: I'm being [:John: No, it seems like, it seems like an easy path. It seems like a, a cushy option. Oh, I just get to, uh, get on a wherever with people and just talk, have them talk about what they're doing or give them a few suggestions or where else there's so much, so much more to it and really a never ending growth journey that comes along with this, but.
John: Like with many things, the reality of, you know, getting started with something to them, being able to continue with it. The, the simple truth is that most people are really good at getting started with stuff. Although not everyone, not everyone's great at that, but most people can
Angie: my LLC. Sorry. Go ahead.
fferent. Other other options [:Angie: I have a question for you. So we are, you know, we started this week, started talking like, as an experienced coach, we're both experienced as entrepreneurs, as consultants, as speakers, and as coaches. So let me ask you something for, from your perspective and your, or your experience. What do you think is a ver like a, a, a top line question that somebody should ask themselves before they even embark on a shift into coaching? Anything stand out for you? 'cause I have a couple, but I'm curious on what you, based on experience, what would be in that, you know, that top three or five like questions to ask yourself, like, should I become a coach? Like we should ask ourselves that.
t, that's something you need [:John: The practical reality of being a coach and having your own business as a coach is that it won't just be ontological coaching, uh, is very hard to just stick to that because people do have an expectation. Like if you, if they come to you as a coach because you have years of experience in, in sales, for example, and they work, want a sales coach.
John: And you won't talk to them about your experience or things like, you'll only ask them questions. They're gonna get pretty frustrated with you. Um, because all these years of knowledge and experience that you could be applying and helping them with, and all you ever do is ask them ontological questions.
John: Uh.
Angie: Yeah.
ed in terms of mentorship or [:John: And this is one of the reasons why. Um, an an 18-year-old, for example, is gonna have a real struggle coming in and coaching, um, somebody who maybe is in their forties or fifties on a, on a topic where they have maybe have no experience or they don't have enough life experience to be able to help with.
John: Not saying an 18-year-old couldn't be a good coach, but you have a, a lot more to, that you would need to prove in order to be a good coach to the people he want to coach. So. So the questions that follow along from that are, who do I want to help? How do I want to help them? What do I bring to the table as a coach that might make me, help me to be unique or position myself in the industry?
and, you know, and work for [:Angie: I have a big one and I think it even, so everything you're saying is absolutely true. You have to decide, you know, who is it you wanna be, what do you, what's the vision look like? And then you set some goals and again, do the business planning. Ah, the business planning. I think one of the things that, most of the people that I look, I've gone through this myself also, I've gone through this with many, many, many clients.
Angie: Do you have, how much money do you have? Right. Are you, are you, are you going to stay working in something else while you transition into coaching? Which is even more difficult because you're going to get the results that you put in and or right. If you're, if you're like, I'm done, or I got laid off even, maybe that's it.
ired. What do I do now? I'll [:Angie: Cell phone bill, health insurance, I don't know, whatever those are. How long are you able to sustain yourself before the red light starts flashing and buzzing behind you, which really changes how you approach things? I think it's something that needs to be considered. How much time do I have?
t package had to be at least [:John: And I got the minimum just
Angie: Yeah.
John: Uh, and so I knew that I had with that. I had roughly 12 months to be able to cover costs and not need to have the business working successfully, just to build things up and be able to know that I'd still have a roof over my head and all that. And things did not go well that first time out.
John: But I, when I ended up, you know, one licked my wounds and came back to it, I did the other option, which was transitioning outta a job that I already had. And that was, in some ways it was harder. I knew a bit more about what I was doing made to head, but it's obviously it was harder because I was having to get up early to sometimes run client calls.
John: 'cause I was getting clients
Angie: Sure. Right, right, right, right.
John: early morning sessions with, I was doing client calls in my lunch breaks. I was doing client calls after work as the client pulled a week.
Angie: [:John: But, but I was, um, I was barely having any time off to do this. I really had to get my house salon. After, I mean, after a few months, things were getting better, but after six months I was in a position to be able to leave the job that I was doing, to pay the bills and, and be able to do full-time coaching.
John: I had enough of a client list. I had, I had enough going on there. I, that was when I was organized, oh, I can actually work fully, remotely and, and don't need to be tied to this and, and that transition. Was damn hard. I, I'm not gonna lie
ton of energy in both places [:Angie: I have this, I'm, I'm a little bit that way. I didn't want to let go of what was coming in until there was enough. You know, change and enough coming in from coaching to really do what I wanted to do and be able to support myself, um, I, I could have just said, nah, forget it. Let me just give myself 12 months.
Angie: To me, that just felt like waste of money. It felt wasteful for me. It didn't feel like an investment at the time, and I think that's a very personal, what's your relationship with money? Whole different episode. Maybe a whole different conversation someplace else. That was a big thing for me. It was very hard for me to do the transition.
en as quickly as if you were [:Angie: But at the same time, you're still maintaining some stability while. Going through that process,
John: I, I dunno what the current stats are for this. But, but just realistically, we have been mentioned it, I think very early on when we started making the show, but the, the statistics of people who actually start a coaching business and stay in it, or actually are still there within a, within three to five years after starting their business, um, is, is, is much smaller amount of people.
John: Is that statistically the chances are you will give up before you, before you get to three or five years with your coaching business. And see any success with it. And, and similarly with, you know, I think, I think it, it sold, I know you've got looking at some stats there
Angie: Yes, I did. Did you hear me tapping away? I'm sorry. I was just.
John: I let take a look at that first, because then I'll come to the other bit that I want to follow on from that week.
ou find something different, [:Angie: Past their second year, um, and 90, 80 to 90 fail within the first three years. So it's a higher level than any other business. They have a general business failure rate of 40% within three years, but for specifically for coaching businesses, it's 80 to 90% that fail within the first three years. And it's not because of a bad idea, or mostly not because you're a, a stinky coach?
th there, there was a gap in [:John: I, I think so. I think so. And, and especially important to be asking yourselves those questions we were talking about because this is, this is really what you're coming up against. It's like, well, of course you want to be the exception to the rule. And I'll say this is like I, when I was in the more struggled days, uh, uh, early on in, when I was getting started with all of this, um, I knew people who had been in coaching for a long time didn't seem to be.
John: Like huge with it, but it was sort of ticking over and taking over. Um, and, and turned out a whole bunch of them were, um, you know, married, married to someone who had lots of money or came from a wealthy background, but they already had, um, they already very well off and were doing coaching because it was something they enjoyed doing.
make their money or business [:Angie: Hey, listen, hallelujah. For anybody who has that situation, for anybody who doesn't have to go to work, no matter what the goal is, whether it's a job or a business like. Good for you, but you're not, you're not our people. You are not who we're talking to right now. Um, I think what you said in the very, very beginning is the most important piece of this is, is it the top?
Angie: Like, first of all, like, why do you wanna be a coach? Right? It can't just be because you think, you know, like. That there's a passion. Maybe you, you know you're good at something, but it needs to not just be about you. It's what you're offering. What am I looking to have people experience by working with me?
something, maybe it becomes [:Angie: Often as you will. Um, but at the same, but on the other side of that, if you actually do sit back and say, oh, like John, you said earlier I had 12 months. You could get a basic, I feel like. Foundational coaching business put together in 12 months. You might get lucky, you might know some people, you might get some clients and that's great, but we've, which we've talked about, you always have to keep the pipeline full anyway.
Angie: So are you ready to start a coaching business? Are you ready? Are you ready for the challenges?
John: I [:John: much. What is your experience of coaching as someone who's looking to coach? Do you have a coach? Have you worked with coaches? Have people that people had experiences with, coaches that you loved and experiences with coaches that you didn't? Maybe you've never had a coach, but you need to get one. You need to know what coaching is and what it can do for.
John: Really if you, if you really want to believe in coaching as something that is of value to other people as well, because if you don't value it for yourself, how the heck do you expect anyone to value you for what you do as well? If you don't even believe in the value of coaching, you must get yourself a coach, even if it's, you know, uh, uh, uh, not the coach you most want to work with right now.
John: Somebody that you can start working with, but
ay. We had to walk to school [:John: yeah, I think one of the bits that I really wanted to get to, um, is that I feel like it, a lot of the time it's being sold as a career. Um, that. Is easy to do and being sold off. They're being sold in the same way as I, uh, do you remember those? A Amazon drop shipping things that was around few years ago.
John: That's all died off now, or, um, I dunno what the latest things are. I've seen stuff around know book selling and things like that, that whatever it is, network marketing, direct sales. Whatever, it's, these are things that very few people ever have success with and, uh, and so you, but they're being sold as easy access because the barrier to entry is so low.
can, you can call yourself a [:John: 'cause other people have done that, but it's like, yeah, but have other people done that with, with them. Have other people done that with, with your experience is, is, doesn't make it right for you. It's not the case that anyone can do this, but I think that's what it's sold as. Anyone could be a coke.
, like certain things really [:Angie: Get me and minimizing or diminishing what the work we do to me right out of the gate is annoying. And listen, everybody wants to capitalize on an angle, knock yourself out. Social media definitely contributes to all of that. Now you have the capability, John and I, which we've talked about so many times, we could throw together, and I don't even mean it on a low level, we could throw together with our experience, a high level coach, new coach, training program.
Angie: Every from soup to nuts start to finish, how to start a business and connect people to, to getting this right. We wanna be very thoughtful about that because we don't wanna minimize the work we're doing here. We're very careful about that because. We really genuinely love the craft. We love what we do.
, just become a coach. Oh my [:Angie: You've earned those wings. Hmm. Okay. Rant over. I'm sorry, John,
ence? And what, what are the [:John: Where, where do you feel you make the biggest difference? There's, when we start to dig into it, it's like, sure, you can call yourself a coach, but it doesn't make you. A professional coach, it doesn't make you a good coach. There. There are things that, it's a journey to take to, to get to those things. And we all, as much as we all want the quick solution, the silver bullet, we have a journey to take, uh, to become good coach.
John: Uh, and every, uh, every month, every year, I'm a better coach than I was. And so when I think, well, we talk about how long ago we both got started in coaching, whether we realized it or not. And we are, uh, probably both unrecognizable from the coaches we were when we first got started in many ways, because we know more and we have so much more experience.
is stuff that, there's some [:Angie: I'd love to hear from people. What is your experience? We've been, I've been getting some messages from people. I've been putting some, you know, information out there to people that I know that are becoming coaches and saying, Hey, like, what are your greatest challenges today as a new coach? I can't speak to that.
Angie: I'm already a coach, so I, I can't even go out and get the information, you know, myself. I'm, I'm asking people what are your greatest challenges? Is it expectation? Is it the gimmicks? Are you, have you been caught? I would love to hear anybody who was like, I paid for one of those and it did not get me. It did not yield what it said it would, and not because I wanna beat people up.
Angie: I just wanna hear about the reality. I would love to hear back from people on this topic.
e programs and courses where [:John: I think it would be fun, may maybe even next episode or sometimes we could talk about the, this aspect of, um, where the responsibility lies for change as well. Um, because I think, um, some coaches get confused on that and I think clients sometimes get confused on that. Sometimes. We get very confused on that and our own journey and progress and we, um, we think the answer lies in the next course or the next program or the next book or whatever it is because we're not really applying. What it is that we've already learned to know.
Angie: Yeah.
John: know it. I say now for the answer's gonna come. It's gonna be a mystical revelation.
Angie: Right.
John: fall into place because we're not really doing, most of us aren't doing the job of application. We're just spending, spending and spending on our learning.
ause it's not delivering the [:Angie: absolutely. I'm there. I'm ready.
John: All right. Let's wrap it up for today. An but I, I think this has been a, a really good topic and I would love to hear from you as to what you thought as well, what experience has been.
