Choice, the Magazine of Professional Coaching, Vol. 3 Issue 1 cover reads “Why Don’t Coaches Make More Money?” The article cites that coaches make less than $20,000 a year offering free complimentary sessions in a struggle to gain clients and most are not cut out to be business owners.

Why don’t coaches make more money?

As the owner of a successful and growing coaching business I can clearly see the answer to this question. Coaches do not make more money for the following reasons:

1. They lack the marketing expertise to grow a business
2. They bill “by the hour” instead of developing programs and service packages for their clientele,
3. They do not coach the whole person, instead focusing only on their niche area or
4. They haven’t identified a niche!

Coaching is rated by “Entrepreneur” magazine as the one of largest at home based growing business; its income potential is growing toward explosion. So why don’t coaches make more money?

Many coaches come from other helping professions, therapists, social workers as well as from corporate positions. Many helping professionals rely on the referrals of managed care to fill their practice and openly express concern when becoming a coach as to how they will get clients. Many coaches are not familiar with the systems and processes involved in running a business, having the right product for the right audience and knowing how to engage clients rapidly in their business.

Coaching businesses do not come with a marketing funnel of clients. A funnel needs to be created through the use of direct and internet marketing. By applying the systems and strategies used by successful entrepreneurs, coaches can rapidly accelerate their incomes.

As a coach I know we provide more to our clients than the time we spend with them. I see clients in my Nashua NH office and I also coach worldwide. Outside of session time I think about my clients, respond to their email and receive brief phone calls between sessions.

Coaches often bill their clients by the month, only pointing to the pricing based on time in session. Instead, build an entire series of programs to serve your clients, offering several pricing options. A program includes coaching, email support, review of information outside of session, brief phone calls, assessments, evaluations, worksheets, workbooks, journals, and numerous resources.

You do it anyway, now build a program and get paid for it. Coach your clients on on every aspect of their lives and as a result most clients will sign up for a six month initial contract. Offer more than coaching, offer a program packed with resources such as e-zines, teleclasses, webinars, e-courses, individual and group coaching and access to forums. So why don’t coaches make more money?

They have the skills and the knowledge. They simply need the tools. Want to make coaching income history for the next magazine report? Become a skilled business owner and market your business effectively. For FREE tips to improve your marketing visit www.TipsToMarketingMastery.com

Debora McLaughlin and Juanita Bellavance, Co-founders, Audacious Entrepreneurs™, an International Enterprise. http://www.MarketingMastery.com