Hey, in this episode, I want to talk about an embarrassing truth that exists in the coaching online space and the online industry. And I think it's something
Kushla:
if we talk about it more, it's going to be so helpful for so many more coaches and experts, course creators, and healers out there. I think we're going to get a kickback, but in a really positive way. We just got to talk about it. Let's dive in. Hey, welcome to the Confident Coach Academy podcast. I'm your host, Kushla Chadwick, and if you have an audacious dream to really be of service in the world, build a profitable coaching business online and have an awesome life offline, then, my love, you are in the right place. Together we're going to talk strategy, mindset, manifestation, thought work, energy work, all the things, so let's dive in. Hey, my friend, how are you? I hope you're amazing. I'm Kushla Chadwick, and this is the Confident Coach Academy podcast. Now I want to share with you an experience that I had with one of my clients just this week, right? So a new client enrolled to work with me and I was doing an audit on her income, and I know some of you the thought of doing that is like terrifying, and that this kind of speaks to why I need to do a podcast episode on this right. So any way, this particular coach, she signed up to work with me, and I knew, before um getting together to do her income audit, that she had been on a lot of different platforms. And I was like, yay, that's really cool, right and she'd been coaching for four years. Or at least outwardly, online, she had been coaching for four years. The reality is, even though she might have helped people for free, as far as paying clients go, when I did the audit with her over the last four years she had made exactly $197. Let me repeat that again over the last four years as a coach, she had made exactly $197. Now, obviously, she's not selling high-ticket offers, because otherwise that income amount would be impossible right? It would have to be like a minimum of $2,000 at least if she'd had a client, but she'd like, obviously sold some low-ticket offers for people, but she had been doing some coaching work. She just hadn't been charging for it.
Kushla:
And this is the embarrassing truth that I want to talk about, which is a real big problem, and that is that most online coaches and when I say online coaches, I'm kind of putting together, like you know, mentors, course creators, experts, healers, you know, whatever you want to call yourself but most of them are severely under earning. And how do I know? Well, in part because I've been there. I've been one of those coaches or healers who has severely under-earned and, rather than a business, it was more like a very, very expensive hobby, right. Because, you know, legally, in some places, I think, if you're earning under twenty thousand dollars in some countries, in some states, it's like considered a hobby, right? So it was a very expensive hobby for me. I've been there, even though it's been a long time since I've been there. I've been there and I understand what that's like. So I understand it from a personal perspective.
Kushla:
But also I get to speak to a lot of female coaches, and so many of them, when they come to me, they're not new coaches, they're coaches who have been spinning their wheels. They're coaches who've, like, been trying to do different things and they have been taking action, um, but that action's not working and they're severely under earning, um. You know so because we speak to coach after coach who have earned less than, like you know, ten thousand dollars or twenty thousand dollars a year, like I had done in the past, many years ago. Or, you know, if they're lucky, they're kind of spending their wealth at like fifty thousand dollars a year or sixty thousand dollars a year, and I know to some of you you're like, oh great, that would, I would love that, because you know that's more than my, my job currently, and for some of you you're like, well, that's a joke, right. So I know, kind of your perspective on fifty50,000, $60,000 is going to vary a lot, right, but you know, these are coaches who, in some cases, have been coaching for three, five and even 10 years and it is under earning.
Kushla:
You know there's a statistic out there that says that 95% of coaches make less than $100,000 per year. But I believe that it's so much worse than that yeah, I believe it's worse than that, for sure. And that there are anyway, there is a lot of coaches making less than $100,000 a year. You know there are anyway, there is a lot of coaches making less than $100,000 a year. And, yes, even though we work in the field right, like coaching or not a field, an industry even though we work in an industry where we can literally earn as much as we can handle to earn, and what I mean by that is like what, if you want to put a goal to earn a million dollars or $5 million or $10 million, like there is absolute proof that you can do that. There are so many coaches out there who have done it and you just need the support from the coach who's done it right. Or maybe, if you want to make your first $100,000, you know, then, like I, that's that's.
Kushla:
I love helping people to make their first $100,000 a year, you know, because I think it's like quite a momentous what's a word. like bump to get past, or I think it's like a really amazing milestone. That's the word I'm looking for, not a bump, but a milestone to get past. And there are certain things, you know, at $100,000 that will be really helpful for your business to continue to grow. Then, obviously, there are other milestones that you, hopefully, are going to want to go through. But, you know, I love helping people to break through their first $100,000 year.
Kushla:
And again, the thing, the reason why this is a problem regardless is because, like you're your boss, you can earn as much as you want, and so there are a few reasons why that's a problem, like if you don't want more. I and I know some some people that I speak to they're like oh, I'm not money driven, and sometimes when I hear things like that. You know like it's easy to think like that's a straight up money block, because I know good people want to do good things and obviously the more money that are in the hands of good people like you know, the more you've got access like more resources, to more resources to be able to help more people. And also, if you really do want to grow a business that helps more people and you really are in here for the impact and the reach to help more people, you know that actually takes money, because you're not, you're actually not going to have a life at all if you try and do it all organically to have a really big reach. So, you do need to look at things like team members and paid advertising and all sorts of other things to be able to have that reach right. So you want a profitable business, you want a really profitable business and so not hitting that 100K milestone is a big deal and I want to help more of you to hit that 100k milestone, just to to slay it, to get that goal right. So, yeah, that's, that's the, that's the thing.
Kushla:
Uh, if you're a new coach, I want you to be aware of this, uh, and I think it's okay, like, if you just, you know, if you say, Kushla, I just want an extra three thousand dollars a month, that would be amazing, that would take the stress off me. I get it and I think, yeah, go for that next milestone, but also keep the big picture in mind of what is available for you. And if you are going to limit yourself, just be aware of, like, why you're choosing to limit yourself. And it's not time, because it's just as hard to run a business where you're earning, say, like three thousand dollars or five thousand dollars a month as it is to run a business where you're earning fifty thousand dollars a month. Right, it's, it's no easier, it's no harder, it's just a bit different and the strategies will be a little bit different. But you know. So, if it's not any harder for you and you're still going to have the same amount of time and energy available to you, you just want to know, like, why do I want to earn far, far less than I can earn for the same amount of effort and energy?
Kushla:
And just be really honest with yourself about you know that's what's happening, because a lot of the time, you know the reason that we don't set ourselves our goals high, and I'm not saying 100k a year is a high goal, right, but like I think it's very high for some. And I know for me like it felt like again a very significant milestone. I loved it when I broke through my first six-figure year while I was homeschooling my kids. It's like woohoo, you know. But the thing is like, a lot of the time we are under earning and we're setting our sights lower just because we think that it's going to be hard, like we just think it's too hard.
Kushla:
There's a part of the, the story that we're brought into and our thoughts keep ruminating and saying, oh, this is going to be hard, but the reality is it's not hard, it's just that it's unfamiliar to us. And so we make that mean that it's hard, but it's not, it's just unfamiliar. Okay. It's not hard in reality, but in our heads we're just mismanaging how we think about it, and so we kind of make this a self-fulfilling prophecy. So anyway, that's just what I wanted to share with you guys, so you can begin to think differently about what are the big goals you're going to give yourself, and the big goals might be in terms of the amount of people you want to reach and I want to warn you not to set like arbitrary numbers of reach. I think sometimes we don't feel it. We don't like, we can't embody the feeling of reaching a certain number of people and sometimes, if it's very, very sincere, you can. But I just want to put that, that warning out there, like make sure that, whatever the goal is, that it feels sincere.
Kushla:
For most of you, it's going to be feel more sincere to have a money metric and I think, even if your main priority is the impact, you also have to have a money metric that goes alongside and be measuring that. And measuring because there's all sorts of things you get to measure properly when you have a money metric. You've got to. You're a business owner, so just yeah, just got to, just got to, like you know, pull the socks up and understand, like as part of being a business owner, you've there's certain things you want to measure, metrics you want to measure, including your sales. So you've got to have a clear sales goal, clear revenue goal and also, again, you can add the impact goal there as well. But if you are not wanting to, then it's time to get some, get some work happening in between the ears there and and and start asking yourself some really good questions.
Kushla:
Now, for those of you who know you want to make that 100k and you want some support, then, yeah, make sure you reach out. You can find me on Instagram, @kushlac hadwicko fficial. On there. You can find me Facebook. You can come to my Facebook group, the Confident Coach Academy. Oh, holy smokes, I've forgotten the rest of it. Let me just quickly go to my Facebook and have a look and I can tell you it's called don't put in the word there just Confident Coach Academy, business Coaching Community.
Kushla:
It's a free community where you know you can ask questions, get lots of support and help and, yeah, help you get your body of work out into the world. Help you, I'll be there to help you break through your 100k goals. Lay that goal, yeah, but if you want help or support, just reach out and type in the word goals and myself or my team will reach out to you, and we've got like a ton of free resources that you might find really, really helpful. So just reach out to us. You can let us know, like, what your money goal is. So just type the word goals and then, like you know, we'll reach back out to you and, yeah, then we might have a couple of questions around your income goal and then we'll be able to share some helpful resources for you there that are customized according to where you are at in your business.
Kushla:
Anyway, I hope that this was helpful for you and has got you thinking about your goals, even if you've well past the 100k mark, right? I know what it feels like to get to the moldy goals, even if you're well past 100k mark, right? Um, I know what it feels like to get to the multi-six figures and you're like, you're like, oh, I'm just kind of comfortable here, and so, you know, limiting our um, limiting our growth, and like wanting more. I think you know those are all very personal things to decide upon and to ask ourselves questions around. So I get it. You know, and this is applicable to you, even if you're past 100k, you still want some help and support to grow. Then, yeah, you just put the word goals and let us know again what your, what your metric is that you want to hit. Okay, anyway, lots of love and sunshine to you. Have an awesome week and I'll catch you later.
