Is it a good time to start a coaching/consulting business? What’s different during a pandemic? Why do I need a target audience? Do I need a website? Alan Brereton answers all these questions in this article.
Starting or boosting your business in 2022?
Here are 4 questions I am asked A LOT! The answers will provide some thoughts to get you moving in the most helpful directions.
For me, it’s a busy time for MIGS (Marketing Idea Generation Sessions). This time of year, my clients are less stretched with service delivery so it’s a perfect time to think ahead about the next master plan!
Lots of questions show up in these sessions, but I wanted to share some of the big rocks with you here so you can get ahead of the game.
Let’s get into it!
Popular Question #1
Is it a bad time to start a coaching/consulting business?
Some great business ideas are born during a seemingly challenging economy. Microsoft was founded during the Oil Embargo recession in the 1970s, Mailchimp started during the Dot Com crash in the early 2000s, and Uber was founded during the economic crash in 2009.
A modern economy will sometimes recalibrate, it may slow down, but it does not stop.
As a coach or consultant we are helping to provide a solution to a problem. If an economic adjustment occurs and your clients no longer have that problem, then your business needs to adapt. Cash is still moving around the economy, but perhaps the spend is now going elsewhere. Go find it!
Some pandemic examples
- Delivery companies (e.g. Amazon prime, DPD etc) recruited hundreds of drivers to cope with demand. They needed help with recruitment strategy, on-boarding, training, payroll etc.
- Drive-thru coffee may have been a necessity for some retailers to survive, but it’s now here to stay. For these retailers, their next challenge could be expanding to new sites or developing better work-life balance, or delegating!
- Software companies are busy developing new solutions for remote working, efficiency and data security. They face even more of the same innovation, HR and strategy challenges as they did before the pandemic.
As a coach or consultant, look at the challenges your clients are facing and develop your solutions. Problems always exist, and with them, the demand for your solutions.
Popular Question #2
What’s different during a Pandemic?
While many landscapes have changed, some basic principles remain the same.
- Your clients are time poor – Work hours are more demanding, and many clients are attempting to get a better handle on their personal time and down time. While this is a challenge for marketing, it also uncovers an opportunity for some coaching around time management 😉
- They have too many options to steal their attention – from funny cat videos to the latest news on virus variants, there will always be more desirable content out there than your client can watch, read or listen to. So what makes you the option they will choose?
- They will be attracted to what is most helpful for them – What’s in it for me? That is the question your client is subconsciously asking as they listen to you pitch on the phone, read your article, or browse your brochure. You’re doing it right now. You’re asking, ‘what’s in it for me to ready Alan’s article?’.
- It’s easier and cheaper to keep a customer than acquire a new one. In the coaching or consulting business, trust and confidence in the relationship. How can you reconnect with a past client who already trusts you? How can you reach a new client through an existing one?
While those principles remain constant, here are some new factors to consider;
- Increased Expectations – Influenced by the retail experience, your clients want less friction in how they do business with you. Is it easy to make contact by phone or email? Is there an automated booking system to schedule a call with you? Is your delivery of service in the expected timescale?
- Borders are gone – Virtual is here to stay. Certainly, we will return to in-person meetings and events, but meetings, coaching, training and more will also continue to take place in the virtual space. One of my clients is 6000KM away and we have a super relationship! I am sure that she will continue our contract after in-person meetings fully return because her decision is based on the value I bring to our work together.
When considering virtual or in-person, remember that the channel of delivery does not compensate for an absence of value from your service.
Popular Question #3
Why do I have to pick a target audience/market?
Make no mistake, you are competing for their attention. The traditional concept of BROADcasting is history. Marketing has fully moved to NARROWcasting; multiple micro messages and headlines, for multiple audiences.
In a world where social media users scroll through 100 metres of newsfeed every day, they need a huge reason to stop and engage with your content.
Your audience needs to feel that your headline, image and content is speaking directly to them.
In marketing sessions with my clients, we allocate a lot of time to really understanding the ideal client and their challenges and frustrations. Your task is to figure out how you are the solution. But how could you know that if you don’t know who you are targeting?
Popular Question #4
Do I need a website?
In simple terms, no. A website can be helpful to convert browsers into buyers, but it’s not the only route. If you’re great at knocking on doors (even virtual ones!), good at building relationships and nurturing repeat clients, you may not need a website at all. Your clients need to know what you do, and if they can trust you to do it. That can be communicated through a brochure, referrals or a LinkedIn profile, to name just a few.
My greatest concern for new coaches/consultants, is their belief that they need a website to get started at all!
Yes it’s helpful, but it’s not a pre-requisite. Weeks, and even months, could be invested in creating content, finding a web designer and fine tuning. None of which will actually guarantee new clients.
The better question, is how to I find the people to send to a website?
Next Step
There is so much to discuss and get excited about for 2022!
Be sure to reach out if you would like to book a marketing session, or comment/DM with any questions about what we’ve looked at here. I’d love to hear your thoughts.
Let’s go! 🙂
By Alan Brereton
Alan Brereton is an Executive Coach and Faculty Member at Kingstown College. With an education background in HR and Law, and experience which includes TV and Media, Alan brings a unique blend of experience and insight to his work as a coach. He also serves as Head of Marketing at Kingstown College.
