Coaching Practice vs. Coaching Business: What Are You Building?

What are you building—a coaching practice or a coaching business? These terms are often used interchangeably, but they’re actually light years apart. Understanding the difference between a coaching practice vs. coaching business is crucial for determining your path and how you approach your work.

In this video, we’ll explore these differences and help you figure out what you are really building: a coaching practice vs coaching business.

 

The Mindset: Coaching Practice vs Coaching Business

If you’re building a coaching practice, you believe that coaching is a profession, just like psychotherapists or chiropractors.

If you’re building a business, you believe that you are in business to generate profits in exchange for value.

The Training: What is Your Focus?

If you’re building a coaching practice, you believe that coach training is the most important success factor in a coaching career.

If you’re building a business, you believe that business training is more important than coach training when it comes to building a successful business.

Products: What Are You Offering?
What about your products? Well, if you’re building your practice, then coaching, one on one coaching, maybe group coaching, that is your primary product.

If you’re building a business, in addition to coaching, you offer educational products, classes, tools, courses, events, and much, much more.

Marketing Strategies: Practice vs Business

How do you market differently between coach, coaching practice and a business? Well, if you are building a coaching practice, you rely primarily on networking and referrals.

If you’re building a business, you rely on things like writing, speaking, publicity, joint venture partnerships, events, social media, and just getting a lot more of yourself out there. Of course, there are exceptions. You could absolutely be doing social media to get one on one clients. But as a rule, you need to get to know people and for them to get to know you to send you business, to send you new clients.

Enrollment: How Do You Onboard Clients?

If you are building a coaching practice, most likely you offer introductory coaching sessions. At the end of which you enroll your clients, you invite them to work with you.

If you are building a business, typically you are running webinars and classes at the end of which you make an invitation and enroll your clients.

Work Schedule: How Do You Structure Your Day?

As far as your work schedule or work days, if you’re building a coaching practice, your days are structured around your coaching sessions with clients.

If you’re building a business, you have a lot more freedom in terms of what you do during your day. You have a great variety of projects and activities in addition to coaching clients.

Building a Team: Practice vs Business

What about a team? Well, typically you rely on your virtual assistant to handle most of your non-coaching related work. If you’re building a practice, if you’re building a business, in addition to having a virtual assistant, you might have several other team members who specialize in one specific skill or area of expertise and your goals.

Ultimate Goals: What Are You Aiming For?

Finally, your goals, if you’re building a coaching practice, your ultimate goal is to be booked solid with coaching clients, right? If you’re building a business, your ultimate goal is to gain as much free time as you possibly can through your business as a result of your business. So what are you building a coaching practice or coaching business?

And by the way, you decide what you want to build. There’s no judgment. Neither one is good or bad. It’s just a choice, but I just want you to be aware of the different approaches as far as the mindset, the training, the products, the marketing, enrollment, your lifestyle, your team, and your ultimate goals.

So what are you building?

 

Take Your Coaching Business to the Next Level with Coaching Genie

Now that you’ve explored the key differences between a coaching practice vs coaching business, it’s time to take action and streamline your coaching operations.

Coaching Genie is the all-in-one platform designed to help you manage your coaching programs, track client progress, and scale your business effortlessly. Whether you’re running a coaching practice or aiming to grow a full-fledged coaching business, Coaching Genie has the tools you need to succeed.

Ready to see how Coaching Genie can transform your coaching business? Watch our FREE demo and discover how easy it is to manage and grow your coaching empire!