5 Reasons Why It Feels Like Only Business Coaches Make Money
You know this isn’t true right?
Business coaches are absolutely NOT the only ones making money out here but it sure feels like, doesn’t it? I once had a discussion with a woman who came to me wanting to start a business. She was a counselor who wanted some more flexibility with her schedule so she could take care of a family member that wasn’t doing so well.
We talked about it. I had a lot of ideas on how she could use her personal experience in a new way. It's always exciting to encounter a new business. She then proceeded to tell me how she was thinking about creating a business helping affiliate marketers market their products.
"What experience have you had with it?" I asked her. She told me she tried being an affiliate marketer — she went to a few meetings and didn’t like it but figured she could give some tips on how to do it.
I was confused if she hadn’t spent any time doing affiliate marketing and she didn’t have any proper business training in agencies, how was she going to do it?
She couldn’t really respond but told me it just seemed like the way to make a living nowadays.
I don’t blame this woman for feeling like this is something she should be doing. This is A THING. Every few weeks I’ll get emails from people in training programs where they are being encouraged to put down what they are doing and serve businesses in the way their mentors do.
Why? Because it FEELS like they are the only ones that have any level of success.
I’ve talked about this a bunch of times but let’s get down to the nitty gritty and really talk about this. Why is it that business coaches LOOK like they are making all of the money and is it true?
Here are 5 reasons it feels like the decks are stacked against you:
There is no reason for a business to talk about their own success if it’s not a selling point.
I have a friend who owns a very successful small yoga studio in Idaho (of all places). Her digital footprint is small, her classes are exclusive and she makes multiple six-figures a month teaching classes in her private studio and going to local businesses and teaching meditation and focus. The only reason why I know that is because I asked. Why else would she be talking about it?
It feels like only business coaches are making money because bragging about the money you make is a marketing strategy. Why the fuck would anyone in my friend’s yoga studio care about how much money she makes? They wouldn’t, yo! It’s not what she does…she’s a YOGA TEACHER.
This is why it feels like business coaches are more successful and it doesn't feel like anyone else is doing anything. People who love their work and are successful at it don't have the time or desire to show you how to do what they are doing. There is no benefit to it, the focus should be on their clients.
Some business strategists don’t do the work to figure out what works for people other than themselves
This is a HUGE PROBLEM and the biggest reason why things don’t work. Most fresh business strategists are teaching modeled techniques vs. learned techniques. That means that they are teaching the things that have worked for them vs. understanding what works for different markets and different styles of people outside of the business sphere.
Linkedin is one of those places most business strategists ignore because THEIR market isn’t there but a lot of my clients need to use that platform. It’s very popular for some types of people. This all means that these strategies DO work but only for specific types of people and that continues the trend of having the market look like it’s only benefiting business-to-business brands.
True brand and message clarity is easy to get to for b2b but for b2c it’s a LOT harder
While b2b brands benefit from talking to audiences that already fully understand the value they are providing, it’s not so clear for other people. I don’t have to work to figure out what you mean by saying you’ll help me make money, I already have that language.
Most businesses don’t have this same luxury.
Intangibles are a BEAST to wrap your arms around but confused people NEVER buy.
It takes a while to get to the heart of a b2c message and it takes even LONGER to communicate it but most people don’t make it that far.
Business coaches can give a lot for free but b2c brands have to be careful about how much value they give away
I’ve noticed that FB lives have become REALLY popular and I watch a bunch of them. The only problem is that most of these people are giving away so much during these sessions, I have no reason to buy from them.
Most b2bs have freebies that represent a tiny piece of what they do in the paid thing but because most Woos are sharing their energy and expertise in a way that’s more organic, the value gets lost because people are just used to you being free and are not 100% sure what they’d be getting if they do sign up.
I used to experience this a lot with me weight loss solution searching. I get amazing value from the free stuff and then something paid is offered and I struggle to see what I’d be getting that I don’t get already.
Incomplete target market training has people going to business groups looking for clients vs. finding out where their clients really are.
Why are you REALLY in that facebook group, really? Is it because you value the content and the community or is it because you are looking forward to promo Fridays so you can get some clients or eyes on your new thing?
Yes, I said it! There is nothing wrong with that but you are wasting valuable energy trying to convince business owners like you to part with their money when you could be finding people who you don’t have to impress with all the bells and whistles because they have just as much marketing training as you do.
Those are the 5 reasons why it seems like everyone is crushing it but you can’t seem to get out the gate. It’s pretty f-ed up and I am actually TIRED of it, aren’t you?
There are so many awesome problems to be solved that have nothing to do with business. You have so many AMAZING gifts to share with your business and I want you to share them.
As someone who has been really helped by the woo these last couple of months, I’ve made it my personal mission to help people like you succeed in business.