2020 Advice to 2007 About the Business of Coaching

2020: One of the common questions we’re asked here at the Catalyst Coaching Institute is “what would you have done differently with your wellness company business if you knew back then what you know today. Rather than just sharing a few of those, we thought it might be more fun to invite the 2007 version of yours truly into the studio to talk it over. If you find it beneficial, let us know through your comments and shares and we’ll do it again. In the meantime, I’m Dr. Bradford Cooper of the Catalyst Coaching Institute and the 54-year-old version of this guy here in 2020.

2007: And I’m the 2007 version of Brad Cooper, 40 year old new wellness company entrepreneur.

20: Do you want to get us started by providing some of your top tips you would have recommended back in 2007?

07: Sure. You want me to go first? Isn’t it supposed to be “age before beauty?” You are older, you know.

20: Don’t rub it in, youngster. Yes – why don’t you get us started.

07: Ok. Suzanna and I just launched our national wellness company a few months ago and I think I’ve got this figured out. Here are some of my top tips for running a successful wellness company business. First of all – it’s all about “rise and grind.” You’ve only got 24 hours in the day and to be successful, you’ve got to stay busy – packing as much as you can into every minute. Attend every networking event you can. Attend every available conference. Up and at ‘em early – we can sleep when we’re dead!

20: Hmmm – I better jump in here. Yes – of course it’s important to make the most of everyday. But without a plan to guide your actions, it’s just movement. Networking events and conferences can be valuable, but how does that fit into our overall plan? Who will be there? What’s my purpose in attending? How can I make the most of the time spent at the event? Until I’ve answered these questions, there’s no value in putting any of these activities on the calendar. And as for the idea we “can sleep when we’re dead, one of the most important lessons I’ve learned since I was you is that if I can bring the best version of myself into the business, the results will be far better than if I bring a lot of hours but not the best me. Sleep – as you will soon discover – is one of the single most important aspects of doing so.

07: Well – that probably just means you’re getting old. But whatever. My next tip is about making more contacts. The more business cards you can trade… the more people you can get in front of at conferences… the more fliers you can hand out… the more people see your company name… the more we’re going to grow.

20: That may be true for some businesses, but not in the health & wellness world. Here it’s all about quality relationships. Our most valued partnerships at US Corporate Wellness grew from developing personal relationships – not scattering fliers or business cards. And most of the time, those who have chosen to pursue their coaching certification through the Catalyst Coaching Institute haven’t done so because we had the most Facebook or LinkedIn ads. It was because they reached out, spoke with us personally, and found our values as a coaching institute aligned with their goals.

07: I guess that makes sense. Where were you back in 2007 when I could have benefitted from knowing this?

20: I was being you. You’d be disappointed if I hadn’t learned something in 14 years, wouldn’t you??

07: True. Ok – here’s one that sure has stood the test of time: Expand your services so you can compete with anyone and offer everything potential clients might be looking to integrate. The more you can offer in the marketplace, the better.

20: Now you’re bringing back memories. And I’m glad you mentioned this one because it’s probably a pretty common mindset for new entrepreneurs.

07: Wait a minute. Are you saying this one doesn’t hold? What happened to “Shoot for the stars”, “Better Than Yesterday”, “Dream Big” and all those types of things you’re always talking about? Isn’t offering this full spectrum how you get there?

20: You absolutely want to “dream big” and pursue “better than yesterday,” but to make the most of your opportunity to do so, it’s critical to dial in your vision and then build on your strengths. Right now, you’re probably investing a couple hundred thousand dollars on building a new website, considering starting a biometric screening arm of your business and developing your own health assessment, right?

07: Yeeeeeess

20: How well do you think you’ll be able to do all of those things without taking on large outside investors or venture capital money?

07: Well – we’re not planning on going that route but we should be able to do a pretty good job building those internally without breaking the bank.

20: Really? The year you’re living in- the year we started – is the same year the iPhone was launched. Technology was already playing a big role prior to you launching the company, but you haven’t seen anything yet. Yes – it’s fine to develop options for your clients internally, and if paired with something you do that is “Best In Class,” that will work out very well for you. But if you’re average at everything, you likely won’t be in business long.

07: I’m obviously still in business since you’re sitting there, so what did Suzanna and I end up doing?

20: You – or I guess we – learned before it was too late. We developed a clear vision of how we wanted to make a meaningful difference in the world with a focus on best-in-class coaching. We became known in the industry for our coaching and our coaching institute. We absolutely developed other tools and resources, and at times partnered with others to provide additional upgrades. However, coaching became our primary differentiator – and it’s turned out to be a good thing for our clients, our partners, and our team members.

07: Doggone it – I wish you would have said something. You could have saved me a lot of money and time I’ve been spending on these other things.

20: It turns out ok. You figured it out pretty quickly thanks to Suzanna’s involvement. But hopefully we can save some other folks some heartache through this discussion.

07: I hope so. But just to clarify – you’re saying I can’t apply what you’re telling me now to what I’m doing?

20: Sorry Younger Me – your fate is sealed. I’m you in 14 years. Remember? But life is turning out pretty good. But just to test it, make a note to buy as much Zoom stock as you can in 2019, ok?

07: Zoom? What is that – a new airlines?

20: It’s a virtual meet… oh nevermind. Jot it down just for grins and if it works, maybe Suzanna and I can spend a little less time at the office here in 2020 if it has an influence 😊. Thanks for doing this with me. We have quite a few other videos on the business of coaching here on the YouTube Coaching Channel and over at the Catalyst Health, Wellness & Performance Coaching Podcast, but I thought maybe them hearing from the two of us together would be helpful.

07: Sure. Anytime. You didn’t turn out to be quite as much of a knucklehead as I thought you might.

20: Well thanks. Credit Suzanna and the kids for that. Although the Dad jokes get more frequent with each passing year.

07: Great. Hey – before we shut this down. Can you talk about the best way to do marketing? I hate it and I’m always getting calls & emails from companies who have ways to do it for me. Are there a couple I should lean towards?

20: We’ll do a video here on the channel specifically on marketing but the most important thing for you to remember is that there are always people willing to take your money to do the things we don’t like doing. And the less we like doing them, the more likely we are to pay for them. That doesn’t mean to never pay for marketing. Occasionally there is a time and a place that makes sense. However, before you do, ask yourself whether you’re paying for it to avoid it? Or you’re paying for it because it’s part of a specifically outlined strategy you’ve designed and you’re crystal clear on how you’re going to integrate that service into your broader strategy in terms of outreach, follow-up, and more. When in doubt… sit it out.

07: Gotcha. Thanks

20: Anytime. I hope this was helpful to those of you watching who actually CAN put some of these into practice. Please feel free to reach out to us anytime with questions [email protected] or check out the website CatalystCoachingInstitute.com. In the meantime, this is Dr. Bradford Cooper signing out. We’ll talk with you – or at least I’ll talk with you – here on the YouTube Coaching Channel or over at the Catalyst Health, Wellness & Performance Coaching Channel very soon.

Take care.

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