Is coaching your business or an expensive hobby?

There comes a time in any new business person’s journey when it becomes important to decide whether your endeavours constitute a hobby or a business.

Not only are there different tax implications for income earned from a hobby or a business, but the recognition itself also represents an important milestone for a successful business – or a happy hobby.

Let’s be honest. If you’re not making money, then for you, coaching may just be an expensive hobby. 

As you read this, your instant feeling will indicate whether you’re happy coaching as a hobby, or whether you really want coaching to be your business. If it’s the latter, then you need to know how to win and keep clients.

Many coaches learn how to win and keep clients the hard way – through costly mistakes and trial and error. But thanks to the International Authority for Professional Coaching and Mentoring (IAPC&M) book How To Win And Keep Clients: 7 Proven Success Strategies To Grow Your Business, you have the opportunity to learn from other people’s mistakes, and what they did to correct them.

Combined with peer coaching in this year’s How to WIN and KEEP Clients (2024/2), knowledge becomes power, as you implement your learning through coaching and do what it takes to turn your passion for coaching into profit. The book (to be purchased separately – not included in this standard round) includes seven easy-to-read chapters from the perspective of seven different authors. You’ll also have the opportunity to extend your learning and results through supplementary videos of live conversations with the authors, hosted by the IAPC&M.

Whether you are new to coaching or have been around for years, if you don’t have business strategies for consistently winning, keeping and replacing clients, then I encourage you to consider joining this year’s How to Win and Keep Clients Peer Coaching Round. In its fourth year running, there are many past participant testimonials available to read here. As a standard ReciproCoach Peer Coaching Round, you may also use eligible membership credits to register. You can find more information about the round here, or if this already sounds like just what you need, then register here before Sunday, February 25.

(Registrations close Sunday, February 25)

All too often, coaches buy business books, read little, apply less, and leave them to gather dust. Worse still, some coaches never do any business training at all, or they do a token course without the necessary follow-through. We’re changing that for ReciproCoaches. By pairing this book with peer coaching, you’ll have the accountability, support, and motivation to learn, implement, and see results.

Supporting coaches in consistently winning and keeping clients,