One mistake most coaches make that keeps them broke

So many women want to start a profitable online coaching business today and there’s a good reason why. Because there has never been a better time to start, grow, and scale a home-based coaching business that not only helps you make an impact  but also create a solid income. Without an income ceiling, being an online coach makes it one of the most profitable and fulfilling careers in the world.

The question then  is, why do so many women struggle to create success when they first get started in their business?

What I can tell you is that after years of being in this industry and coaching dozens of women (and some men) into building six-figure businesses that light them up, there’s not just one answer here. However, there is one mistake that most coaches make when they first start out in the online world that keeps them broke for much longer than what they need to be.

So get ready for today’s blog posts because I’m diving head first into what that mistake is and giving you practical advice on what you can do to avoid it and conquer entrepreneurship like a boss.

So let’s start with the mistake, shall we?

The #1 mistake that I see most new coaches make when they first start their business is consuming more than they create.

There are 3 main reasons as to why this newbie habit is so detrimental to your business success.

It keeps you from taking real action that yields real results

You may feel that by watching your fifth webinar this week on growing your email list, you are actually taking action towards growing your fan base – but you’re not. There is such a big difference between learning something and implementing it. While there is a big learning curve that every new coach must face when they first come into the online world, there is also the inevitable truth that hiding behind education will hinder your success. Profit-driven action in your business means creating content, getting visible, getting on the phone, pitching to podcasts, following up, applying to new opportunities, growing your community, launching, sending emails, etc… It does not look like binge watching every Facebook live that pops up on your newsfeed. Selective learning my dear, selective learning. Pick two, maybe three people that you love learning from and tune out anything else. Focus is your wallets’ best friend.

Your confidence takes a bitter hit

Not only is using all of your time consuming information costing you big bucks, but it’s also hindering your confidence in a way that you can’t even imagine. Coming from a long line of Brick and Mortar entrepreneurs, I was able to pinpoint early on how different the online space is around being in each other’s businesses (no pun intended). In a ‘normal’ business, you wouldn’t be so consumed by every other business in the world, you would instead be focused on your growth at least 80% of the time. That means that 80% of the time you’re celebrating your microwins, finding creative solutions to grow, and focusing on your own goals and desires. Now, compare that to the online world, and you can easily spend 80% of your time snooping around someone else’s launch, how much money they make, what they’re struggling with, and what they ate for lunch. So much mental space that is not only being wasted but it’s also putting you in a place where you obsessively compare yourself to others, and in turn your confidence takes a bitter hit.

It molds you into someone else (which repels soulmate clients)

As if the first two reasons weren’t enough to get you to stop consuming and start taking action, there’s one more thing you must know. When you spend the majority of your time consuming other people’s livelihoods, struggles, business models, successes, etc… You subconsciously start to feel like you must be like them in order to step up into the CEO that you want to be. Molding into someone you’re not repels clients like crazy. People can feel when you’re not cemented in your own foundations. No one wants to work with someone else’s option B, they want to work with the best version of yourself.

I hope this gives you the motivation and insight that you need so that you can be more selective of what you consume, who you consume it from, and how often you’re consuming daily. Most importantly, I hope that it motivates you to take the actions in your business that will help you yield the most results. Remember, you deserve wild success more than you can even imagine but it’s up to you to make that happen.

Are you ready to get fully booked out with clients you love with a coach by your side who has a track record of helping her clients go from confused, overwhelmed, and underpaid into money-making CEOs?

Click here to book a discovery talk more about  your business and see if my new 6-week 1:1 coaching program, Rise Up ✨,  would be the right fit to help you achieve those dreams!