95: Is Coaching a Seasonal Business?

Recently I overheard a coach saying that her business had been doing well and then over the last two months everything came to an abrupt halt.Prospects weren’t showing up. People stopped opening emails and engaging on social media. And her income slowed way down.She was ready to give up on her business. And I thought to myselt, “Don’t do that! Instead accelerate and expand your efforts to attract ideal clients.”Hearing her anxiety made me remember when I was a new coach. But here’s what I realized down the road. That daily pain I felt about fluctuations in my business came down to one mistake …Taking things personally instead of responding strategically.Do you know what I mean? If you are feeling blown around in the wind and like you have no control over your coaching business, it’s time for a mindset shift.You Control Your Results in Your Coaching BusinessHere’s the truth … you do have control over your business. Yes, you may need to may small incremental adjustment to help your coaching business thrive, but YOU hold the controls for the most part.Think about it … You control how often and how effectively you’re getting in front of your target audience. This is the first place to look if you’re not earning enough as a coach. You control your fees, what value you deliver and can even have a significant influence over how attracted your audience is to what you offer.If you haven’t heard it already, I have a whole series called Coaching Business Checkup with 9 episodes that go step by step into the most strategic things you can do before you launch your coaching business.There’s also a downloadable self-assessment to test what’s working and what’s not working in your coaching business. Find that series at prosperouscoach.com/checkupThe Seasons of Your Coaching BusinessAll that said, there is one thing you can’t control. You cannot control a seasonal slow down. But you can shift your mindset about how you respond it and even plan for it.Depending on your target audience and the flow of their lives there may be a few times each year when paying clients will be less likely to hire you.Typical slow down times relate to the school year:·      Spring break·      Late summer·      Christmas and New YearsAnd then there’s events like major elections, such as the Presidential election coming up in the US.Short-term stress leading up to and just beyond an election may mean people are less grounded to make big decisions. The stock market often dips then as well.But don’t think that long-term stress has the same effect. It does not. That’s why I don’t recommend that you hold off on launching your business or that you let it lapse during the pandemic.Recently, I published an episode called Should You Launch Your Coaching Business at a Better Time. Find that at prosperouscoach.com/91. Give it a listen because there’s more insight in there about how we fool ourselves into thinking certain times aren’t good for running a coaching business.How Can a Smart Coach Respond to Seasonal Slow Downs?Plan both practically and emotionally for these slower times.Find more about how to manage seasonal aspects of your business here.