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7 Hard Truths About Running a Successful Coaching Business

Welcome back to The Abundant Coach! Today’s episode is all about the unspoken realities of building a successful coaching business. Host Lauren Brollier Newton shares seven hard truths that every coach needs to understand, based on her experience of growing a seven-figure coaching business.

If you’ve ever struggled with rejection, time management, or the emotional ups and downs of entrepreneurship, this episode will be a game-changer. Lauren reveals what it really takes to build a thriving business while maintaining your passion for coaching. From reframing failure to mastering your calendar, these lessons will help you create not just a successful business, but a life you truly love.

The Entrepreneurial Hat: Embrace the Vehicle

Running a coaching business means stepping into the role of an entrepreneur, which is often unexpected for many new coaches. While most start with a passion for helping others, the key to achieving greater impact is falling in love with the entrepreneurial journey. This includes learning marketing, systems, and strategies that allow you to scale your impact. Think of entrepreneurship as the vehicle that drives you toward your vision—just like a car gets you to an exciting destination.

Loneliness in the Early Stages

Transitioning from a traditional job to running your own business can feel isolating, especially at first. Lauren recalls moving from a busy teaching job to working solo in her parents’ basement. This shift, though challenging, is temporary. Community is the antidote. Joining networks, attending events, and connecting with other entrepreneurs can make a world of difference.

Risk and Reward: The Balancing Act

One of the most rewarding aspects of coaching is the limitless potential for growth—financially, professionally, and personally. However, these rewards come with risks. As an entrepreneur, you’ll face challenges that require resilience and bold decision-making. Taking risks is what sets successful coaches apart. When you’re willing to stretch yourself, the rewards can exceed your wildest dreams.

Reframing Failure as Feedback

The way you handle failure will directly impact the success of your coaching business. Lauren emphasizes that failure isn’t the end; it’s feedback. Every misstep is an opportunity to learn, refine, and improve. Like Thomas Edison, who famously found 10,000 ways the lightbulb didn’t work, successful coaches use failure as a stepping stone to greater achievements.

Time Management is a Game-Changer

Your calendar is more than a scheduling tool—it’s a reflection of your priorities and a powerful transformation tool. Lauren highlights how managing your time intentionally can set you apart. Many new coaches struggle with focus, but designing a schedule that aligns with your goals can dramatically improve your results. Learning to use your calendar effectively will help you stay on track and avoid distractions.

Understanding Financial Realities

One of the overlooked truths of running a coaching business is that you don’t get to keep every dollar you earn. Taxes, expenses, and reinvestments are part of the process. Lauren recommends understanding concepts like profit-first accounting to ensure you’re planning effectively. For those aiming for a specific take-home income, it’s essential to account for these financial realities and adjust your goals accordingly.

You’ll Hear More “No’s” Than “Yes’s”

Rejection is a normal and expected part of the coaching journey. Even the most successful coaches hear more no’s than yes’s. The key is not taking rejection personally and recognizing that every interaction, even those that don’t lead to a client, is an opportunity to make a positive impact. Embracing this mindset will help you stay resilient and focused on the people who say yes.

Key Takeaways

  • Becoming an entrepreneur is essential to scaling your coaching business and maximizing your impact.
  • Loneliness is natural in the early stages but can be mitigated by joining supportive communities and networks.
  • The greatest rewards in coaching come from taking bold, calculated risks.
  • Failure is feedback that provides valuable lessons for growth and improvement.
  • Effective time management is critical for maintaining focus and achieving your goals.
  • Financial planning is essential; not every dollar you earn will be take-home income.
  • Rejection isn’t personal—stay focused on the yes’s and keep showing up.

Ready to build a thriving, successful coaching business? 

Join The Life Coach Accelerator, a free 5-day challenge hosted by Lauren Brollier Newton. This challenge is designed to help aspiring and experienced coaches take their careers to the next level.

Discover how to:

  • Identify your unique calling and the clients you’re meant to serve.
  • Take the most important steps toward building a sustainable and successful business.
  • Overcome common challenges, attract clients, and charge what you’re worth.

Don’t wait to create the business and life you’ve been dreaming of. 

Sign up for The Life Coach Accelerator today. Your successful coaching business starts here!

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