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BOOK EXCERPT
Rich Coach vs. Broke Coach: What Really Separates The Two?
Excerpted and adapted from Rich Coach • Broke Coach by Bart Smith
Reprinted by Permission
The words “Rich Coach” and “Broke Coach” are not only about how much money is sitting in a bank account. To me, they describe two very different ways of thinking about coaching, business, marketing, client service, income and personal growth.
A Rich Coach builds skills, resources, authority, systems and multiple ways to serve people. A Broke Coach too often relies on one-on-one coaching alone, gives away too much billable time and waits for clients to somehow appear.
The good news? These are not permanent labels. They are business conditions — and conditions can change.
Qualities Of A Rich Coach
1. Profitable Niche & Original Content — Rich Coaches develop their own ideas, methods and content inside a clear niche. That content can become coaching services, books, workbooks, audio programs, workshops, webinars, classes and other products.
4. Highly Efficient — They protect their time, reduce wasted effort and create systems that help them work smarter instead of filling every available hour with one-on-one sessions.
5. Visionary — They build a coaching business around a bigger picture — the kind of clients they want to serve, the lifestyle they want to create and the financial return they want the business to produce.
6. Mission Driven — They genuinely want to help people and make a difference. That mission gives the business energy and helps sustain the coach through the inevitable ups and downs.
7. Master Of Marketing — They understand that great coaching skills alone do not create a thriving practice. They learn how to market, promote and stay visible so qualified clients can find them.
8. Internet Savvy — They use a professional website, email, video, online content, payment tools and other digital systems to make the business easier to discover and easier to buy from.
9. Author / Authority Builder — They use books and other educational content to establish credibility, demonstrate expertise and create opportunities for interviews, speaking and new clients.
10. Product Creator — They do not depend entirely on selling their personal time. They create digital and physical products that can generate income without requiring another coaching hour.
11. Speaker / Trainer — They use speaking, training, webinars and workshops to reach groups of people at once, build authority and create new client opportunities.
12. Strong Networker — They build relationships, referral partnerships and joint ventures that can lead to clients, product sales and additional exposure.
13. Steady Flow Of Clients — They continually work on lead generation so the business is not dependent on one referral, one launch or one lucky break.
14. Balanced — They build the business to support their life instead of allowing the business to consume it. Time, family, health and personal development still matter.
15. Always Improving — They maintain high personal standards and continue working on themselves, their skills, their services and the quality of the results they help clients achieve.
What Does A Broke Coach Look Like?
A Broke Coach is often missing many of the systems and assets listed above. They may have limited resources, limited business skills, little original content, no products to sell, no consistent marketing plan, weak networking habits and no reliable flow of leads.
They may also spend too much time giving away advice for free or trying to survive entirely through one-on-one coaching. Even if they are excellent at coaching, the business side remains fragile.
The Real Difference
The real difference is not talent. It is structure.
Rich Coaches deliberately build a business around their coaching ability. They create intellectual property, develop multiple income streams, learn marketing, become visible, build authority and create systems that continue working even when they are not sitting in a coaching session.
If you recognize a few Broke Coach habits in your own business, good. Awareness gives you something to work on. Pick one weak area, strengthen it and keep going. A coaching business can change dramatically when the coach running it begins thinking — and operating — like a Rich Coach.
(THIS CONTINUES IN THE BOOK)
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