Coaching Mindset vs. Business Mindset
Cage Match or Pillow Fight?
(No Holds Barred)
What is a “Coaching Mindset?”
If you’re a coach, I’m going to take it for granted you’ve got a coaching mindset. Not sure what I mean? Let’s take a look at it. Most leaders are said to have a “coaching mindset.” They are thought to be helpful and empathetic in nature.
Coaches value learning and developing people to be their best selves. They may even choose development over deadlines. They are excellent communicators and like to talk with others. They take deep satisfaction in bringing out the best in others, no matter which particular type of coaching they are involved in. Using this coaching mindset in a corporate setting to develop and empower teams can be quite effective.
It doesn’t matter what type of coaching you are interested in doing. You must have the correct coaching leadership mindset. Here are the classifications of coaching we’re discussing here.
Health and Wellness Coaching
All of these distinctions in the coaching industry require subtle differences in treatment, but most need the same coaching mindset we talked about earlier.
What is a “Business Mindset?”
A “business mindset” focuses on holding your vision and working effectively towards results. It’s a hybrid skill set which includes many subsets. A successful business mindset stays concentrated in Metrics, Income/Expense Ratios and Operating Procedures.
This way of thinking is characterized by some common thought processes. You must:
✔ Think for yourself, and don’t allow anyone else to dissuade you from your business passion. Some people will take any chance they get to shoot down business ideas and strategy. Don’t give others that much power.
✔ You must be very strategic about the actions you take in your business. Don’t waste time or money on activities which don’t support your goals.
✔ Some people don’t understand the basic premise – business exists so people can make money. If you ignore this fact, you won’t be in business long.
✔ Knowing your figures is an excellent expression of the business mindset and shows you understand the importance of profitability.
✔ A business mindset is open to new business ideas and new streams of income. The sky’s the limit with a proper business mindset.
Where Do You Stand in the Mindset Arena?
I’m going to come right out and say it. If you are a coach, and you own a coaching business, you have to use both of these mindsets.
Without the empathetic, helpful nature which comes with a coaching mindset, people won’t want to engage with you. You must take the time and put the energy into building relationships with your coaching clients.
Experience has taught us, the stronger your coaching mindset, the less likely you are to be able to embrace a business mindset at the same time. In fact, you may find it unattractive, “salesy,” pushy, etc. The two ways of thinking must co-exist, if you are to be a prosperous coach.
A Match Made in Heaven
Much like a Yin/Yang scenario, these two parts of yourself which will add up to success are not mortal enemies. They are just two separate pieces which make up a whole when it comes to your business. You need both!
So, in case you were looking forward to the cage match… I have to tell you it’s a pillow fight at its worst. You aren’t going to be able to grow, or even start much of a coaching business unless you reconcile the two mindsets and nurture them both.
Your ability to do this will affect every area of your business. Without proper emphasis on the business aspect of your coaching business, you won’t be able to pay for the things you need to build and grow your coaching practice.
Time to Put on Your Thinking Cap
Think about these two types of mindset and assign yourself a score for each… that add up to 100%. It doesn’t need to be 50%/50%… but it should be at least 60%/40%. If you honestly can’t stomach the business mindset, invest the time and resources to get this squared away before your work anymore in your business. Don’t let this hold you back! Please pause and consider…