Launching a coaching practice brings new challenges. There are some pitfalls to consider before you encounter them that can make the foundational stages easier. Below are a few that you might overlook as you set about to build a bona fide coaching business.
Isolation
Being an entrepreneur can be lonely. Launching and running a coaching practice demands that you do things outside of coaching and training – and new challenges are born. Doing the work alone, struggling through as you try to figure it out on your own, can spell disaster. It can make you feel even more isolated.
You need to gain the support of others. Having friends and family in your inner circle to bounce off ideas can be helpful. Using past clients to test new ideas is beneficial. Hiring professionals such as a lawyer or accountant may be just what you need.
As a coach, you understand the value of mentorship and coaching. Be sure to have these important relationships engaged in what you are planning.
Working alone brings new challenges.
Managing Expectations
Many new coaches begin building their coaching practice by overestimating how quickly they can get up and running, and underestimating how much they can accomplish in a year or two.
We highly recommend setting a launch date. Be flexible, as new challenges might get in the way. It may take you more time to do certain activities and you really won’t know until you get into the work at hand. Be adaptable with your expectations.
Schedule Your Time
Some coaches get defeated when doing some of the foundational work before they even get started. They may have another job and/or a family and other obligations.
Scheduling time to focus on the next tasks in launching your coaching practice can really help. Block out consistent time and buckle down to the work done. Getting family and work commitments firmly scheduled will allow you to see what time you have available. Many coaches are able to build their business using small pockets of time with focused action.
Avoid new challenges by scheduling your time.
Push through New Challenges
These are just a few of the new challenges that you’ll face as you launch your coaching practice. The goal of understanding some of the issues is to be aware of them and to mitigate them in advance. The more you know, the easier it is to manage and the sooner you get up and running. And the sooner you are up and running, the sooner you get to do more of what you love and do best: coach!
Check out The Coach Business Guide: The Path to Launch and Grow your Coaching Practice, Chapter 1, Getting Started.
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