Every industry has its own success path, and financial coaching is no different. I think introducing you to my own path and evolution is helpful, and I also want to share what it might look like in your own journey as a financial coach.
My Journey: From Uncertainty to Mastery
Looking at me today, you might see a confident financial coach with a successful business. However, my journey wasn’t always smooth. Let’s walk through the phases I experienced, which are common in this profession.
Early Days: I started with dreams of earning $2,000 per month. I was awkward in my role, stumbled over words, and lacked boundaries. My approach was more of a consultant than a coach, and I was riddled with imposter syndrome and a fear of success.
Growth and Challenges: Over time, I evolved from those initial struggles. I grappled with the reality of business growth, which included expanding my services and team. This stage involved dealing with the messiness of growth and adapting to changing goals and desires.
Developing Skills and Confidence: As I progressed, my skills as a coach improved significantly. I learned to ask better questions, became more open-minded, and honed my ability to understand my clients’ needs, both logical and emotional.
Patience and Trust: I learned the value of patience and trusting the coaching process. Understanding that each client’s journey is unique was crucial to developing a more empathetic approach to coaching.
Current Stage: Today, I run a seven-figure financial coaching business, have authored a book on financial coaching, and mentored over 500 coaches to grow businesses of their own. My business not only provides excellent results for clients but also offers a rewarding experience.
The 5 Stages of Becoming a Successful Financial Coach
So what might this journey look like for you? Below is a quick summary of the five stages of becoming a profitable, successful financial coach:
Thinking About Becoming a Coach: You’re exploring what it means to be a financial coach, researching, and weighing your options.
Ready to Become a Coach: You’ve decided to pursue financial coaching but are overwhelmed by the steps ahead.
Coaching, But Not Consistently: You’ve secured a few clients and are balancing the dual roles of building your business and attracting more clients.
Consistent Coaching with Struggles: This is where many aspire to be. You’re coaching consistently but still juggling various other responsibilities, leading to stress.
Consistent Coaching and Loving It: You’ve reached a point where your business is scalable, and you’re helping a large number of clients efficiently. You’re not just successful; you’re thoroughly enjoying what you do.
Understanding where you are on this journey is key to focusing your efforts appropriately. Whether you’re just starting out or have been coaching for years, each stage has its unique challenges and rewards. Join me in the next episodes as we explore each stage in detail, helping you navigate your path to success as a financial coach.