86: When and How to Stop Coaching for Free

This episode is part of the Money Mastery series. Find the full transcipt for this episode at prosperouscoach.com/86It’s totally normal to give some coaching away free while you’re in coach training school. Schools encourage this because they want you to practice coaching skills with as many people as you can as often as possible.Practice integrates learning.The downside of offering free coaching over a long term is that it becomes increasingly difficult to shift from free to charging fees. Resistance gathers … and soon simply the idea of charging fees looms large in your mind.That’s why many coaches get stuck in practice or what I call Perpetual Student Mode.Patterns Become Habits and Habits Become MindsetIt’s critical to cross that threshold away from offering free coaching to becoming a professional coach and charging fees quickly.You see, our brains have a need for order. Anything you do repeatedly can become habit. Your mind SETS.That can be a positive thing. But some mindsets make you feel STUCK.Take a moment here and answer truthfully … has your mind set on limiting beliefs having to do with charging your clients fees? Here are some of things I hear from new coaches:·      I’m still inexperienced so I shouldn’t ask clients to pay.·      How can I charge fees when I don’t know what I’m doing?·      Why would someone pay me for this?·      I’m a fraud.It’s time to challenge these mindsets. Let’s look at them one at a time.Own Your ExperienceFirst, it helps to shift the way you think of coaching. Coaching is a skillset.Have you ever learned a new set of skills in a job?Let’s say you are suddenly given a new responsibility at your job. Chances are you showed some promise already and that’s why you were given the opportunity.There’s always a learning curve, right? But your employer pays you while you learn. It’s a good faith practice that you will integrate the learning by doing.As a professional coach, you employ yourself. Are you going to require that you know everything before you get paid? That would be unreasonable.You Brought Skills to the Table of CoachingDo you know everything about coaching? No. No one does. You’re on a developmental path. But you didn’t start this journey of becoming a coach on ground zero.When you decided to become a coach you already had significant communication skills. If you hadn’t, you would not have gravitated to this.You already knew how to listen, ask questions and support or inspire greatness. No doubt, your friends and colleagues sought you out as a sounding board and counselor.In fact, this zone of genius may have been with you for decades.Give yourself credit for what you brought to the table. Coach training only enhanced your skills. People Invest When They Perceive Value “Why would someone pay me?” is the wrong question.Read more about successfully moving from free to fees!