Updated: Jan 4, 2019
HOW does SOMEONE MAKE 6 OR 7 FIGURES IN THE PROFESSION OF COACHING?
This is a great question - a milestone in a coach's trajectory.
Even if the question is being asked in frustration, upset, or outright anger, it's a great day when a coach is looking around asking, "HOW ARE THEY DOING THIS?"
If used properly, this is a game changing question.
IF you are willing to listen to the answer and do something different than what you have been doing up until now.
Coach, I would search high and low until YOU get your question answered by a coach in a live conversation who HAS WHAT YOU WANT professionally (a 6 or 7 figure practice) and they will give you STRAIGHT answers. Because it's not an easy or short answer.
Here are my true and real answers, and the answers of the coaches I know who are experiencing consistent high levels of earnings (6 or 7 figures), for your consideration:
1. These coaches (this includes me) are not spending any money on marketing at all - and no money on teams of any kind. Maybe they have one person who helps them sometimes - and that's it, if at all. No marketing whatsoever. A decent website is the only "marketing" expenditure.
2. They are, and I am, spending hours and hours and hours and hours and hours and then months and months and months and months and then years and years learning the art of growing themselves as a strong business owner who knows how to connect with individuals in a heartfelt, meaningful way - and they do this day in, day out, and they don't allow the thought of, "I don't know who to connect with" to stop them from finding people to connect with.
3. They get coaching. A LOT of coaching, in various forms, over and over, and over again. I am not shy about sharing I have been coached for 15+ years by Steve Chandler. I have also studied with Nancy Kline, I have been to 3Ps trainings, and I have been an on and off again student at the University of Santa Monica for over 19 years. And I will put myself in new learning situations every year.
4. They get coaching in the growth of their business - again and again. And again. And they are willing to be open about getting coached, and they don't stop getting coached. They don't say, "I tried that - it didn't work." They keep going, and if something isn't working they get more coaching on how to do it better.
5. They work a lot. A LOT on the path to a 6 figure or 7 figure practice. Michelle Abend Bauman would say to coaches, "This is a profession, not a lifestyle."
I loved, and we loved growing our businesses. LOVED it. I loved the early days of the learning, the learning, the trying things, the messing up, the growth, the setbacks, the getting up and doing it again, the inspiration of connecting with people and making a difference and then seeing if we could do it all over again, with a new group, or a new individual.
I coached on my bathroom floor, at night, in my car, when I wasn't at my full time job. Michelle coached on her lunch hour, on weekends, before work.
The beginning of a coaching practice is one of the most magical times. It's a time of real hunger, real hunkering down and focusing.
It's the most unglamorous time. It's a magical time, a messy, fun, exhilarating time - especially if you have someone in your corner, who's YOUR COACH who's teaching you how to do this. I would never give up this time, or wish it had been easier or shorter. And there are coaches who had a faster trajectory than me. I wouldn't trade a minute.
It's an intimate time of learning, of slowing down, and of not getting so frustrated that you drop the process and decide, "it's not working."
THIS TAKES TIME.
THIS TAKES AS LONG AS IT TAKES.
THIS TAKES TIME.
More than you think it should. Less if you devote yourself to it completely, and get excellent coaching and don't stop.
I will be bold here. I will risk angering coaches here and that's ok because this is a profession where we are willing to sacrifice being liked in the name of serving.
If you are asking this question yet are not being coached by someone who has what you want, or, if you got coached 3-4-5 years ago for a period of time (like 4-6-9 months) and then did not get coached again and decided that you'd "been coached" and you should "have it by now" you will be frustrated.
You will likely think it should be different, even though it's not.
You will likely think as you read this, "I tried what she said. It didn't work/I didn't like having conversations/that approach seems like it's ok for some people not for me."
And I would lovingly challenge you - you aren't currently being coached and/or you aren't putting enough time in, every day.
And - even though you might be a fantastic coach, you aren't serving the profession by not getting coached in an ongoing way. Because coaches who don't get coaching on their businesses or their lives consistently are, as Steve Chandler says, like doctors who don't use doctors. Or like dentists who don't go to dentists.
It's not a great message in our profession this message of, "I don't get coaching" - or "I did a long time ago, but I can't find anyone who can really show me this.
6. Coaches who are making 6 or 7 figures are willing to accept that this is going to continue to be a work in progress and the 1 day a week of work (or 2) fantasy is a FANTASY.
7. Coaches who make 6 or 7 figures have a focused calendar. If you could see their calendars, you'd see it's filled with the following:
- client sessions - conversations - clear commitments like the gym, meditation, etc - client sessions - conversations - creative time or quiet time - vacations/family/relationship time - conversations - client sessions
8. Coaches who are making 6 or 7 figures are talking to people. Often. In various forms.
9. Coaches who are making 6 or 7 figures have worked really hard and they haven't stopped. EVER.
10. If they aren't where they want to be, they get coached.
11. They see the growing of their business as one of the greatest privileges and they LOVE it (or have learned to love it) as much as any other portion of their business.
This is the best profession on the planet. It's not the easiest. It requires consistent commitment and focus, and it is a calling.
It's no different than being called to be a medical doctor, and they spend years in medical school, in training, in residencies, and more.
This is the best, most glorious profession on the planet and it's growing daily. More and more coaches are coming, and some of them will do what's noted above, and some won't. Some will wonder why it's not happening for them, and they won't get this question answered.
It's fantastic that the profession is growing. Because it's one of the most beautiful ways to make a difference in the world.
Coach, I hope you get your fantastic, important question answered and you use it to catapult you into your next level.
I'm rooting for you. I'M ROOTING FOR YOU and this amazing profession.