Things are tight right now for many people around the world. If you’ve been experiencing anxiety, then let’s talk about some ways to start your coaching business with no money.
Tips for Starting Your Coaching Business With No Money
Easily one of the biggest expenses of starting your coaching business. With some coaching programs costing as much as a new car, it can be a little overwhelming and frightening to imagine spending that much just to get started.
But, before you start the loan application, I’d first suggest you really consider if you need the coaching certification in the first place (See: Should You Invest In A Coaching Certification?).
Here’s what I would suggest if you’re on a budget and still hell bent on getting certified:
- Cost – Honestly, you don’t (and shouldn’t) be investing anything over $3k. That’s dumb. Stop it. Stop it right now. There are plenty of awesome programs for less.
- Payment Plans – Yes, even though they say you’ll spend less by paying all upfront, you are not a crappy person for choosing the payment plan option.
- Type – Do not opt for getting the ICF Credentials right now. You don’t need it! In fact I’ve never met an ICF accredited coach making over $100k, why? Because they spend all their time getting private coaching hours which caps their income.
BRANDING & WEB DESIGN
I know there are a lot of coaches out there who will tell you that ‘time is money’ when it comes to your business. And this true to an extent, but when you are first getting started (especially in a tight economy) money is money.
And when you’re a 4-figure coach, you can’t afford to hire a 5-figure assistant. So you need to put on your big girl undies and discipline yourself and learn to DIY things if you are trying to grow your coaching business with no money.
Some places you can get your hands dirty are:
- Website- Use a page builder like Divi. It’s affordable and will give you tons of ways to customize your website. There are tons of tutorials and courses out there. Checkout Website in a Week inside the The Community for more.
- Branding- Create your own Logo and Brand Guidelines or hire someone for cheap using Fiverr.
- Graphics- Online businesses require a lot of graphic design skills, whether its for social media or products like workbooks etc. Learn how to do these things for yourself in the beginning and save some money.
Now is the perfect time to start using social media more effectively.
This is not the time for ‘fluff’ when it comes to building your brand and business. Don’t get caught up in just getting ‘likes and follows’. After all, if you can’t convert those followers into paying customers, then what’s the point?
To use social media to your advantage try:
- Purpose-Remember, your goal is to drive your community to take action or move the next step in their journey. Include a call-to-action in all of your content.
- Engagement- Social media algorithms no longer support the ‘Post and Pray’ method (meaning just put some hashtags and you’re good to go). Now, you need to engage with your audience consistently in order for your content to appear in their feed. So starting your day by checking in with you audience first before you post is key!
- Educate- Like I said, we are in an age of ‘no fluff’. Remember, people are selfish. They want to know what’s in it for them. You need to become an educator first and show your audience what it would be like to work with you!
SYSTEMS & TOOLS
Become friends with Systems & Tools in your coaching business. These can be crucial for helping you keep money in your pocket and maintain your sanity when you’re trying to stay on a budget.
These are the kind of systems you should implement:
- Sales – How will you take people from being unaware of your brand and business to being ready to enroll in your programs? Remember, the sales system is Attract, Nurture, Convert.
- Content – When you’re doing this solo you need to have the right systems and tools in place so you save time & money. I have a system in place where I create content weekly and I use tools like Planoly, Canva, and Notion to create, edit, and auto-post all of my content.
- Payment Plans – Speaking of tools. I know it’s tempting to fall for the ‘save 20%’ overall if you buy yearly. But I would caution against this if you’re investing in Apps and Tools for your business. Start with the Free Trial, then move to monthly payments if available, just in case you eventually want to use something else.
Now that you’ve got some ideas for how you can continue to build your coaching business on a budget, let me know in the comments below if any other ideas come to mind!