Not Good Enough? Says WHO?
Judge your success on YOUR terms.
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I launched my first website in 1999, very nearly when you still had to manually code pages in HTML. It was rough as I look back on it now, but it worked - people bought my "ebook" (and they didn’t even know what that was back then!) and coaching program.
In the early 2000s, an "online consultant" wanted me to hire him as my coach. He insisted that after a few years online, I should be making seven figures.
I asked, “Says who?”
His reply was, “What?”
I said, “Who says that I should be making that much by now, where is the research? What metrics are used to factor that dollar amount?”
He stammered, “Uhhh, ummm, uhhh...”
There was no research or data – he just made an arbitrary declaration. Needless to say, we didn't work together.
Why do I bring this up to you? Because this is a recurring theme in the coaching world. An "expert" proclaims their program will make your coaching a 6- or 7-figure "empire" for you. In fact, they insist, if you aren't doing that, you have failed as a coach. Or you are foolishly leaving money on the table, or whatever shame-based message they are using at the time.
This experience reflects a common myth in the coaching world – that income level, either alone or in major part, defines the success of your coaching business. Coaching "gurus" and business “experts” proclaim their programs as the path to a lavish income. But I don't remember monetary gain being part of my coach training, or my main motivator for entering the profession of coaching. It was a consideration but not the driving force. I wanted to help people and be useful.
But you know what? I have seen so many coaches who have been infected by this little thought virus. And for some, it completely disables their coaching practice.
They step back and say, "I'm not making that, so I must be a failure! I must not know what I am doing!" (Or they invest in program after program, and either find it doesn’t get them there… or they really didn’t want to go there, given what it takes – but that’s another article).
After lots of conversations with such coaches, I ask them one simple question: "Is that what you use as a yardstick for your clients and their life success/satisfaction/wellness/whatever? Do you suggest that a client only view success by the number of zeros in their annual salary?”
Of course not! However, many coaches apply that limited perspective standard to themselves.
Here's the truth – those unrealistic income claims are marketing ploys using shame and FOMO to sell their solution. They make coaches feel inadequate. No evidence exists that a specific dollar amount of income equals coaching success. In fact, for many I’ve known over the years a healthy 5-figure income was more than capable of bringing joy and stability to the coach's life!
There's a healthier way to evaluate your coaching practice than what the salesperson says it should be –YOU. Of course, income matters, as you should be fairly compensated for your expertise and time. But to more holistically and accurately evaluate what is right for YOU, use a nuanced approach across four dimensions:
CLIENTS – Do you enjoy your clients and find their goals meaningful? Do you regularly sign new people to your practice? Are you as busy working in and on your business as you have time for, while maintaining a healthy work/life balance?
IMPACT – Are your clients overall making the progress intended through your partnership? Do you get ‘thanked’ for your work? Can you see and feel how your clients are being set free from old beliefs, habits, and obstacles?
GROWTH – Are you continually developing your abilities as a coach? Can you sense and observe that your skills are expanding, growing more effective, and richer?
INCOME – Are you satisfied with your compensation, and does it meet your needs? I’m not asking if it meets your wildest dreams, I’m asking if it keeps you in a comfortable and hopeful mental space about your income. You can be quite happy making 5-figures but still dream of making more. Another way of looking at it is, do you take yourself seriously as a professional making what you make, or does it bring you to a place of shame and embarrassment?
Regularly reflect on these dimensions. They will empower adjustments if you determine they are needed. If you're not happy with your clients or impact, how can you change that? If you need more income, what steps can you take? And be clear, how much more do YOU want and are you willing to work for?
The "online coach" who insisted on 7-figures is still around, but no longer coaching. I'm still here because my practice aligns with my values and my needs. I also frequently ask myself those four questions, in case anything needs to evolve. After all, coaching is about change, and so are coaches.
Let your own fulfillment across these dimensions determine your success – not an arbitrary income target. Coaching excellence stems from life-long growth and service, not just a made-up dollars and cents target. Take action today; determine if your beliefs or feelings about the dollar volume in your business are holding you back. Talk through your thinking with a coach, peer, or do some self-growth work to get to the deeper truth, and discover the best target for YOU.
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