April Mailbag: Your Coaching Business Questions Answered!

From liability insurance, to book writing, to finding a niche, to standing out and finding clients - we cover so much!!

Okay, welcome all to Q2!

It’s officially spring, I’ve been liberating the tulips from my yard into my house, and I’m excited to answer some questions!

Thanks for hearting your favorite questions from the Q&A post, I tackled all of the questions with the most votes first, and then answered a bunch more. Whohoo!

Today we are covering:

🧁 Should you publish your fees on your website?

🧁 Do you need liability insurance, and where do you find it?

🧁 How do you start a coaching business as a one-day-a-week side-hustle, and how do you *not* procrastinate?

🧁 How do you find clients without social media and a very small network?

🧁 What is the best way to track your client’s progress towards their goals (and demonstrate your value as a coach)?

🧁 How long should your book be (and how long are mine)?

🧁 How do you pick a niche when there are so many options?

🧁 How do you stand out in a saturated market and get clients to find you?

🧁 Are Facebook and Instagram good funnels? What’s the cost/benefit of using platforms like these?

Let’s dig in!

🧁 QUESTION: What are your thoughts about publishing one’s fees on one’s website?

Good question!

My answer: It depends on how new you are as a coach, and what you are selling.

If you are a new coach selling private coaching, I say wait to publish your fees. Here’s why:

You probably have the time *and* need the sales call practice. With no fees published, you’ll get more sales calls scheduled, and that will help you improve. The downside is that you will talk to more people who can’t afford your coaching, but again - at the early stages the practice helps tremendously!

Once you get busier as a coach, I think it’s helpful to give potential clients some idea of what it costs to work with you, whether you post it on your site or in the intake form for a consult (or both!). You don’t have as much free time to spend on people who can’t afford your coaching, and you also probably no longer need the same amount of practice.

If you are group coaching or selling a DIY program, then yes - please publish prices on your website and make it easy for folks to sign up!

🚨 MORE HELP ALERT: And for anyone who wants a deeper dive on pricing, here’s a helpful podcast episode!

🧁 QUESTION: I have a small, part time coaching practice. Most, but not all, of my clients come via referrals from folks who know me and/or are former clients. How important is it to have liability insurance? What are your best recommendations regarding where and how to find the best options for this protection?

This is an interesting question, and before I answer it, I have to caveat it by saying I’m not a lawyer, and what’s best may change depending on where you live and how you operate your business. So, please do not take the following as legal advice.

That being said, I do have an opinion (of course!). And I think getting liability insurance depends on how willing you are to take a risk, how you find and onboard clients, and how you structure your business. For me, as a new coach back in the day, I did not carry liability insurance for several reasons:

1. I did not operate a brick and mortar office, so I didn’t need standard liability that was most common at the time (slip and fall etc). I did all of my coaching virtually.

2. I also used a very clear contract with every private client, which specified how we would interact legally should the coaching not progress for some reason, and/or there was a dispute.

3. I did a consult with every client before signing, so I only signed people that I thought were a great fit for me and my coaching, to reduce any risk of refunds or dissatisfaction.

4. And finally, I quickly did the paperwork to operate as an LLC, not as a sole proprietor. The LLC structure provided a shield of sorts for my personal assets, protecting my personal assets from anyone taking issue with my business.

Finally, at the time my business wasn’t that big, and I didn’t have a lot to lose! So I felt like these 4 things protected me and paying for liability insurance on top of that wasn’t necessary. I was willing to take that risk.

But we are all different, and everyone views risk differently. For instance: Some people operating as sole proprietors or even LLCs may have a lot of assets to protect, so you might choose to get insurance. Given what you’ve shared in terms of who your clients are (warm referrals!), I wouldn’t personally prioritize liability insurance over some of the other things I listed above, but again, this is not legal advice of any kind.

My best advice for every new or newish coach is to is choose great clients that are a good fit for you. That will make your business life so much easier on every level.

RECOMMENDATION ON WHERE TO FIND INSURANCE: If you want to think about getting liability insurance, I’d look at the companies that the ICF recommends. They normally have some trusted vendors for coaches listed on their website, and it’s a great place to start!

🧁 Question: How do you start a coaching business as a side-hustle with an initial one day a week for coaching, business development... without falling into not coaching and procrastinating with website development, for instance?

This is an interesting question, and I think that there are tactical strategies, and mindset strategies, that you can employ to help you stay focused and make progress. Both will help, so let’s dig in!