22: Why Should A Coach Do Market Research?

This episode is part of the series called Smart Mindsets & Habits.Mindset is a huge driver of success. When you have powerful mindsets motivating you AND you're taking strategic actions — that combo will get you anywhere you want to go in life.This episode is about market research — an often skipped over strategic action that helps you attract clients who want what you offer.I'm also going to cover 2 mindsets related to market research that will literally make the difference in whether you'll have a thriving coaching business or not.So let's start with 2 mindset shifts that I encourage you to make, if you haven't already. These mindsets help you to embrace the idea of market research and other strategic actions.Act Like the CEO of Your Coaching BusinessWhen I finished coach training, I launched a coaching practice rather than a business. I hung my shingle as a coach and I was open for clients. That mindset kept me from what I really wanted for nearly 3 years — to be serving clients masterfully while earning well.I spent all day every day chasing my next coaching client. My website was all about coaching. My marketing efforts sold coaching. I didn't target a specific audience, I had no niche, no strategy, no focus.I had lots of practice clients. People who were more or less doing me a favor because they could see how enthusiastic I was about coaching and so they hired me for a month or two at low prices. We did some good work but it wasn't deep lasting work. They weren't wholly committed to the process because they didn't really buy into the idea of coaching — which is what I was selling.Then, realizing that what I was doing wasn't working, I shifted to acting like the owner of a business. I started doing what all business owners do. That shift in the way I thought about my time, my energy and my actions changed the way others perceived me too.When you step fully into the role of CEO in your own business you're no longer just floating and hoping. Instead, your day-to-day is all about building traction, leveraging your efforts, becoming a recognizable brand and offering something that's truly wanted.You are attracting clients and profits, not just for today, but for your future too.What can you do right now to take ownership of your coaching business? Here are 3 suggestions that fit the start up phase. Maybe you've done some or all of these.1. Create a home office. You need a door, a desk, wifi, a computer.When you make a physical place for your business, it signals to yourself and the world that you are in this for the long run and not just playing about.Read about the other two ways to take ownership of your coaching business here.