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The Money Question for Coaches

I met a coach at our last Intensive. She asked me for some advice about building her practice.

But my job is to serve people, not to please them, so I spoke my truth.

I told her to quit coaching.

At least for a while.

Five months later she posted about this in the Facebook group we have for alumni at our events:

“Story time…. so I went to my first intensive in September… bright-eyed and bushy tailed as a brand spanking new coach, fresh out of college ready to find all the secrets to guiding the world into Nirvana… or something like that. I was at a complete loss for words at everything, I was SO inspired… I got to meet THE Rich Litvin …. I told him my background… my plans… and he looked at me and told me to get a job in sales. Never meet your heroes right?? Fast forward a few months… and my life being flipped completely upside down, I am now Director of Sales for a magazine my family is publishing (which I totally fell into) and sure as hell… my coaching business is expanding faster than I can keep up… I have to raise my prices. The irony does not escape me. #imabeliever 😉 Thanks Rich.”

When I meet a coach who wants to create money, there are a range of things I recommend, depending on their situation. For Elizabeth, I was provocative.

Here are some of the other things I’d recommend if you need to make money, right now. Other than quitting coaching, I’ve done every one of the following, during my career as a coach:

  • I’d fill my calendar with coaching calls.
  • I would coach my ass off.
  • I’d get a part-time job, unrelated to coaching.
  • I’d offer smaller coaching agreements than I’d ever offered.
  • I’d create a higher fee coaching agreements than I’d ever offered.
  • I’d quit coaching—at least temporarily—and get a full-time job.
  • I’d look for someone who has a successful business and find a way to help them.
  • I’d call everyone who had ever paid me money and find a way to serve them or make them a proposal to work together again.
  • I’d create a group coaching program with a low fee.
  • I’d cut down on my spending.

What would you recommend to a coach who wants to make money? Or, if you’re a coach who wants to make money what are you going to do?

Love. Rich

P.S. Registration is currently open for our next Rich Litvin Intensive. This September we’ll be in London for the first time in 3 years. Register now and save $300 off the full ticket price. Stop marketing and start coaching.  Join us:  http://richl1.sg-host.com/intensive

 

PS. Project Kairos just began but it’s not too late to join me. You’ll get the recordings of the calls you miss. Master Creating Clients in the last Project Kairos I will ever run. Sign up now, and you still get a gift ticket to my upcoming program: $100K Clients

 

PLUS, here are 4 more ways you can drastically increase your impact and your income:

  1. Join my 2 new short programs, $100K Clients and One Milllllion Dollars! There’s a button at the bottom of either page that allows you to join both programs and save almost $300…
  2. Get my support as a Thinking Partner. This is for one successful entrepreneur or coach who wants to have their thinking provoked and to be challenged – on everything!
  3. Become my Protégé. This is for a single coach who wants my mentoring to help them transform every element of their coaching business – mastering The Prosperous Coach Approach, writing books, scaling your business, building a team, or becoming known as a Thought Leader…
  4. Want to work with me but not sure where to start? Check out our coaching journey and pick the program that suits you best. 

 

 

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