Table Of Content, ook offers qothil't8 less than a radical rethi . of4..
the essem:i ("f,uilfli~ (l coaching practice. A m r
all coaches, master and novice alike."
J.
- Richard Leid'er, author of The Power of PUl'pose
THE
BUSINESS
o r
D PRACTICE
OACHIN
FINDING YOUR NICHE,
MAKING MONEY, &
ATTRACTING IDEAL CLIENTS
0-393-70462-9 $33.95 USA
547.50 CAN
BUILDING A THRIVING COACHING BUSINESS IS
A CHALLENGE. An estimated 30,000 coaches
have entered the coaching profession during
the past five years. Unfortunately, the majority
report they are unable ro earn a living wage from
their coaching services. Competition is high, and
the knowledge of how to succeed is often lack
ing. To survive coday, coaches must match their
enthusiasm with strong business and marketing
expertise.
Lynn Grodzki and Wendy Allen are veteran
business coaches who understand how to strate
gically approach the business and the practice of
coaching as well as how (0 mentor new coaches
entering the profession. The Bllsiness and Practice
of Coaching is the first text to combine a coaching
approach (step-by-step exercises, direct sugges
tions, insider's dps, and motivational plans) with
solid business information and ideas in order to
give new and experienced coaches exactly what
they need to prosper in the competitive business
of coaching. Grodzki and Allen help coaches
succeed by giving them the right information,
showing them how develop an entrepreneUrial
(Q
mind-set, and demonstrating how to custom-
ize a business plan that can spell the difference
between accomplishment and collapse.
GRODZKI AND ALLEN GIVE EACH READER
THE ABILITY TO:
• Build a coaching business that has relevance
to the larger community around it, and be
aligned with the new realities of the coaching
profession .
• Refine your coaching skill set to incorporate
the five coaching competencies that signal to
the public that you are a masterful coach.
o Define your innate coaching specialty and
target a profi table niche market so you can
make a bigger impact as a coach.
(collf/l1tied on backflaPJ
(rolllinlled from Iront flaP)
• Implement the eight beSt marketing strategies
co attract coaching clients (and know rhe
markering ideas rhar coaches do best to avoid).
• Set and raise your fees the right way, develop
multiple streams of coaching income, and
build a six-figure business that you can own
and sell.
• Institute risk management policies that
ensure your pracrice is legally safe, ethically
sound, and trouble free.
Covering all of the rerritory-from positioning
youc coaching business, differentiating it from
rhe competition, acquiring basic entrepreneur
ial skills, and learning ftom profiles of master
coaches-The BJlSilleJJ cmd Practice of Coaching
offers a wealth of information and accessible ex
pert guidance. Readers will discover how to take
advantage of current trends within and avoid
distracting hype about the quickly changing
coaching profession so that the coaching busi
ness they build today will be viable tomorrow.
LYNN GRODZKI, LCSW,
PCC, is a psychotherapist
and Professional Certified
Coach in private pr-acrice in
Silver Spring, MD. She is on
the facult)1 of CoachU
and is rhe author of three
previous books about prac·
tice-building for thcf"dpis(s,
healing professionals, and
new coaches.
\VENDY ALLEN, PH.D.,
is a psychologist and busi
ness coach working in Sama
Barbara, CA. She is a con
triburor to TIM N~u' Prnale
Prnetitt: TheraplSf-C()(IChes
Share Stories, Srrategies. al1d
Adl'ice as well as a graduate
ofCoachU and the Am hen-
ric Happiness Coachjng
Program.
Grodzki photo by David Bleeman
Allen photo by Helene Glassman
jarket design by Christie l?epcheck
Also by Lynn Grodzki
Building Your Ideal Private Practice:
A Guide for Therapists and Other Healing Professionals
12 Months to Your Ideal Private Practice:
A Workbook
The New Private Practice:
Therapist-Coaches Share Stories, Strategies, and Advice (Editor)
A Norton Professional Book
The Business and Practice of Coaching
Finding Your Niche, Making Money, and
Attracting Ideal Clients
Lynn Grodzki and Wendy Allen
W. W. Norton & Company
New York • London
Copyright © 2005 by Lynn Grodzki and Wendy Allen
All rights reserved
Printed in the United States of America
First Edition
For information about permission to reproduce
selections from this book, write to
Permissions, W. W. Norton & Company, Inc.,
500 Fifth Avenue, New York, NY 10110
Production Manager: Leeann Graham
Manufacturing by Quebecor World Fairfield Graphics
Library of Congress Cataloging-in-Publication Data
Grodzki, Lynn.
The business and practice of coaching: finding your niche, making money,
and attracting ideal clients / Lynn Grodzki and Wendy Allen.
p. ;cm.
"A Norton professional book."
Includes bibliographical references and index.
ISBN 0-393-70462-9
1. Consultants-Marketing. 2. Executive coaching-Practice. 3. Personal
coaching-Practice. I. Allen, Wendy, 1953-II. Title.
HD69.C6G74 2005
001' .68'8-dc22 2005047294
W. W. Norton & Company, Inc., 500 Fifth Avenue, New York, N. Y. 10110
www.wwnorton.com
W. W. Norton & Company Ltd., Castle House, 75176 Wells St., London WIT 3QT
1 3 5 7 9 0 8 642
Contents
Acknowledgments ix
Introduction: A Coaching Approach for the Coach in Business 1
Part I. Positioning
l. Coaching: Trend or Fad? 9
Take advantage of current trends and avoid past hype within
the quickly changing coaching profession, so that the business
you build today is viable tomorrow.
2. The Differences Among Coaching, Therapy, and Consulting 24
How to define the distinctions and similarities among these
three professions and the emerging body of knowledge that
makes coaching unique.
3. Becoming a Great Coach 43
Adopt the top skills and competencies that lead to masterful
coaching and evaluate your need for additional coach training.
Part II. Differentiation
4. Four Questions to Your Perfect Fit 65
A process of inquiry and insight to help you determine your
coaching strengths, skills, and area of coaching expertise.
5. From Specialty to Niche 77
How to target and segment a niche market and build your
reputation to make a bigger impact with your coaching services.
6. Attracting Ideal Clients 97
The eight best ways to bring in new clients, how to refine and
plan your marketing so that it delivers results, and the marketing
ideas coaches do best to avoid.
v
vi The Business and Practice of Coaching
Part III. Entrepreneurship
7. The Coach as Entrepreneur 125
The essential steps to develop an entrepreneurial mind-set,
a requirement for business success.
8. Business and Your Emotional Intelligence 144
How to handle the inevitable negative emotions that arise as
you establish your coaching business so you can avoid self-sabotaging
behaviors and keep your business progress on track.
9. Why Good Coaches Go Broke 164
How to make more money, shift negative money attitudes, set
and get a full fee, maximize profits, develop multiple income
streams, and build a coaching business you can sell.
10. Staying Safe and Legal 188
Risk management strategies, ethical matters, confidentiality
conflicts, designing a coaching agreement, and other essential
considerations that can minimize business problems.
Part IV. Profiles in Coaching
11. Executive and Leadership Coaching 207
Two well-paid coaching specialties that add value and meaning
to the work and lives of executives.
12. Business Coaching 219
Helping small-business owners and professionals in business
learn to thrive.
13. Skills Coaching 229
Skill-based and peak performance coaching that gives clients
far-reaching proficiency.
14. Career Coaching 238
Showing clients how to design and implement an ideal career path,
an essential resource for those in and out of the labor market.
15. Life Coaching 246
The coaching specialty that helps motivated clients take steps
to greatly improve their lives.
Contents vii
16. Wellness Coaching 255
A new facet of holistic health care, coaching people to take
greater responsibility for their own health and well-being.
17. Creativity, Relationship, and Spiritual Coaching 264
Three coaching specialties that focus on the subtle interior
aspects of human development.
Appendix of Helpful Information
A. Author Contact Information 277
B. Levels of Coach Certification 277
C. Coach Training Organizations 278
D. Coaching Associations 278
E. Helpful Journals and Periodicals 278
F. Coaching Books 280
G. Web Sites for Coaches 286
H. Coaching Assessments 288
References 289
Index 293
Acknowledgments
This book is a family affair: The authors are sisters as well as professional
colleagues. As family, we want to extend our appreciation to our extended
family within the coaching community-those coaches who so generously
mentored, encouraged, and informed our work and this book. We also
thank Deborah Malmud, director of publishing at Norton Professional
Books and editor extraordinaire, and Michael McGandy and Kevin Olsen at
W.W. Norton for their combined efforts to make sure the book reads well,
looks good, and reaches the people who need it. Additional thanks go to:
(From Lynn)
The coaches I mentor who constantly remind me what it means to be a
new coach on the front lines; the CoachU community; my husband for his
patient, sage advice; and Wendy, for her lighthearted coaching perspective
and steely sense of purpose.
(From Wendy)
My clients who inspire me every day; my wonderful husband and family
who weren't really 100% interested in this text, but were 200% interested
in me and supported me in all the important ways; my sister, Lynn, who so
generously asked me to participate; my fun next-door neighbors who were
always glad to see me during my necessary and unnecessary breaks; and my
dog, Rubby-the-Tummy, who loved this whole endeavor because he got to
lie down at my feet without me moving, for hours at a time-his snores
gently kept me focused.
ix
Description:Building a thriving coaching business is a challenge.An estimated 30,000 coaches have entered the coaching profession during the past five years. Unfortunately, the majority report they are unable to earn a living wage from their coaching services. Competition is high, and the knowledge of how to su
