The International Coaching Federation reported an estimated 53,300 coaches worldwide in 2011, with about 92% of these listed as “active.” Yet, while the industry continues to grow, the median coaching income ranges have remained stagnant, ranging from just $27,100 to $73,100 annually. Only a few coaches make more than that; most are stuck in the lower end of the earning scale because they struggle with getting clients.
Some experts believe the problem is all in their head.
“Over the last decade, the most common problem coaches have shared with me is that they love coaching and helping people, but they hate promoting their services,” says Ivan Petarnichki, an NLP certified coach, mindset mastery expert, and creator of Mental Edge Mastery system. Petarnichki has over 30 years of experience in experimental and applied psychology and is known as the “Mindset Coach for Coaches.”
“Both new and seasoned heart-based coaches inevitably find themselves struggling with marketing and sales,” Petarnichki says. “They would rather cut their right arm off than to stand in front of a crowd of their ideal prospects and state the immense value they provide and the handsome fees they would love to charge.”
Perhaps this is why Tony Robbins, commonly viewed as the “godfather” of the coaching industry, says, “Success is 80% psychology and 20% strategy.” Based on that, Petarnichki believes what coaches need most is not a new marketing strategy, but a new mindset.
“Coaches are afraid of selling and resent asking for money,” Petarnichki says. “And this all boils down to low self-esteem, destructive inner talk, and false beliefs about money and spirituality.”
For those coaches who want to earn a superior income while delivering outstanding service to their clients, Petarnichki offers the following practical steps.
1. Choose a niche. “Define the particular group of people you want to serve,” says Petarnichki. “Write down at least three reasons why you want to serve these exact people and not someone else.”
2. State the outcomes. According to Petarnichki, most coaches are not certain about the value they provide and so they struggle to communicate it clearly. “Ask yourself what results people will get from working with you that they cannot get on their own,” he says. “And make sure you can actually deliver it.”
3. Describe the ideal client. Unlike traditional marketing demographics that describe consumers in terms of age, education, income or gender, Petarnichki recommends describing them by their personality. “List all the personal traits and characteristics of your ideal clients and the values that they cherish,” he says.
4. Check for alignment. In other words, “Make sure you possess all those qualities and personal traits, and that you share the values of the clients you wish to attract,” Petarnichki advises. “To attract your ideal clients, you must be your ideal client first. You must think, feel and behave as you would like your ideal client to think, feel and behave. Once you have achieved that, your perfect prospects will be magically drawn to you without any effort on your part.”
Coaches like Niklas Eller have experienced this transformation firsthand. Eller, who struggled with self-promotion, worked with Petarnichki and discovered that the struggle was a symptom of something deeper. “Ivan’s Mental Edge Mastery System is the best mindset system I have come across in the seven years I have studied personal development,” says Eller. “I highly recommend Ivan to anyone who wants a rapid mindset upgrade.”
Ivan Petarnichki is a mindset mastery expert, coach, and creator of the Mental Edge Mastery system who has distilled over 30 years of experience in the applied psychology field into simple and easy-to-implement mind reset techniques.
To connect with Ivan Petarnichki and learn more about Mental Edge Mastery for coaches, visit www.mentaledgemastery.com.