Katie McManus identifies three factors that determine whether a coaching business will succeed or fail: finding a market, becoming an expert, and pushing past failure. She targets entrepreneurs and small business owners, especially those with ADHD.
What are the three factors that are most indicative of you being successful in your business? Well, I'll tell you. Hi. I help ADHD business owners make more money in less time with your distractions by showing you how to discover your profitable niche. Design an offer that they are starving to buy. I train you on how to market and sell your services without wanting to vomit. All without using a cookie cutter. One size fits all method. I'm Katie McManus, business strategist and money mindset coach. And these are actually the three things that I look for when I'm assessing someone to see if I will take them on as a client or not. Number one, is there a market for what you're doing? I don't care how much you love baking and I don't care how good of a coach you are, you're probably not going to be a baking coach because there's no need for it. And sure, you could totally be passionate about helping people take their muffin baking from like, dense and dry to like fluffy and chewy and moist, but doesn't mean that people are going to pay you a coaching wage to help them do that. When I talk to a potential client, I am asking them, like, who do you think is going to be paying for this? If it's not immediately clear to me, because I also want to own that I'm not an expert at everything, okay? I don't know everything about every single market. But if you can't tell me that there is already a ready market that's buying this from other people, I'm going to tell you this is probably not the idea you want to go with. Number two is, are you actually an expert at what you do? Do you know what you're doing? And this is a tough one because there are so many business coaches out there that are blowing smoke up people's butts saying, you can go and be a coach. You don't need training, you don't need this, you don't need that, and that is absolute bullshit. Now, of course, if you want to be like a life coach, an executive coach, a leadership coach, you do need some training, okay? You do need to go and learn some kind of methodology. Number one, it's going to make you better and more capable of helping your clients. Number two, it's going to give you enough confidence for you to go out and actually sell your services. I cannot tell you how many times I've heard people say, well, I just wanted to be a life coach. And they go out and they try to sell but they sabotage themselves because, like, they're worried about actually getting a client because they have no idea what they would actually do with that client if they got them. All right, so if you're going to want to do any kind of coaching, and that's here, you need to go and get trained. And then of course, there's the coaches who have a skill. Okay, so this could be like a branding coach, a social media coach. And it means that they have a skill. Like they've developed a set of skills that they can go and teach someone. Now, this is technically like mentorship, but done well, you can absolutely call it coaching because you're not just teaching a one size fits all method. You're helping this person create a strategy that's actually going to work for them in the environment of their life and their business. So when I'm talking to a potential client, if I'm not hearing that they have this skill behind what they want to do, then my number one thing is, hey, go and get some training and then come back to me when you're done. And number three, this is the most important one. If you do not have this one, you will not pass go, you will not collect 200, your business will flop and you'll have to go back to a 9 to 5 job. I'm sorry, that's just the way it goes. And it's this. Can you push past failure? All right? If I hear someone on the phone and they are too afraid to fail, they are like, they. The worst case scenario for them is that they fail at doing the thing. They're not going to have a successful business. They're not even going to have like an unsuccessful business. They're just not going to have a business, all right? Because to start a business, you have to fail hundreds, thousands of times, okay? I can't tell you how many times I failed in my business. I failed in my business every single day. And I've been doing this for over six years, all right? Also, I train other people how to start and grow businesses, all right? So if I'm failing at this, there's no way you're going to avoid it. And if you spend all your time swirling around this fear that, oh, my God, what if I fail? What if I fail? What if I get it wrong? It's going to stop you from taking any action in your business and you're just going to end up wasting time, money, and energy. And also you'll be wasting my time and energy as well if I become your coach. So, so that's why I do not work with people who are too afraid of failure. So if you're starting or growing a business, then here are the three things you need to take away from this video. Number one, get clear on who your market is. Is there someone out there who's willing to buy what you're selling? Number two, are you an expert? Do you know what you're doing? And you don't have to be the best person out there, but you do have to know what you're doing. And number three, are you willing to fail? Are you not even not just willing to fail? Are you excited to fail to see what gets you to the other side and like and follow for more business growing tips.
