Tri, cycling, running or any endurance sports coaching can be a rewarding, fun, adventurous way to create an alternative style career. I mean you get to teach people how to swim, bike and run for living. How fun is that? Even with all the fun and travel there are still some areas of the business which need attention. The main part of the business to remember is that athletes don't always need the smartest coach in the room so it doesn't matter if you have the most knowledge since a beginner athlete might just need a basic training program which can be accessed online or with an entry level coach. There has been a proliferation of online training programs and coaches for many years which has driven the price of coaching way down and even free in some ways. You have to ask why an athlete would pay your rates over getting a free program or very low cost "coach". I touch on this more below.
Since the numbers of coaches has been growing for many years I thought it would be helpful to give five good tips which I've learned from a career of over 20 years in the business. It's not easy to condense down so much of what I've gathered into five tips but I'll do the best I can.
5. Remember your coaching is a time based service so you will always be trading time for money. You are limited as too how much you can make since there are only so many hours you can work. This is why having other revenue streams is needed. These can include selling products or having other coaches work for you.
4. Identify your KEY differentiation from other coaches. This is hard to do now since you are in an unregulated industry. Anyone can call, sell and market themselves as a coach so how do you stand out and be the coach which is chosen. This has a major impact in the market. What if someone came to your city and offered you very good or even the same exact car insurance you currently have for a fraction of what you're paying? That's similar to the business of coaching. Once you have your differentiator you need to play it up.
3. Hire consultants whether they are for business or for understanding the nuances of some areas in sports performance. If you don't know or have a weak knowledge base of a subject, LT testing for instance, hire a consultant to educate you.
2. The coaches you hire will want to exit your company at some time and take their (your) athletes with them. It's the truth and no matter what kind of contract you have with them they will want to fly on their own. Have a plan in place to deal with this situation.
1. You are in a service business so customer service is the most important aspect to this business. I've had thousands of athletes of all types and I've also been coached for many years when I competed so I can tell you that how you react, respond and treat your athletes is your first priority.
If you are in the business or want to become a coach and have questions feel free to reach out to me and I'd be happy to help. I've had vast experience in all areas of the business and can help navigate the waters of your coaching business.