The coaching industry is highly competitive. What challenges did you face on the way to the top?
Ignacio Perez: Newton is attributed to have said: “If I have seen further it is by standing on the shoulders of Giants.” and in the same way I don’t credit myself for where .Coach is at this point in time. I don’t think we take if for granted at all. We are very grateful to some of the most amazing people who stood by us during difficult times and showed us the way. I think that was the single toughest challenge we faced:finding the right mentors who actually knew their stuff and were not frauds or scammers.
There is so much misinformation out there on business development, you can’t blame coaches for falling for scams. Coaches are some of the most talented and compassionate people on earth and it is this compassion that blinds them to the twisted means of self-appointed experts. It is unbelievable, and our history is plagued by times where we were tricked, conned and lied to. We lost a lot of money, resources and time on people who confused opportunism with good strategy. We came to realise all the advice out there was not based on any economic or market principles. When we launched Coach Accelerator™, we always had in mind the need to provide something radically different to those coaches who weren’t afraid of putting in the work. And that came by giving strategy, not free advice.
How exactly do Coaches benefit from your platform?
Ignacio Perez: Our platform is not open to the public and will never be. It is a merit based selection process. Only coaches who we feel bring something exceptional to the table and are ready for a lifelong journey of transformation and growth are shortlisted to attend a panel interview. Selected coaches are extended the offer to join coveted to join the first and only accelerator program for coaches and coaching businesses.
As with any accelerator, we give all the hands-on expertise, tech development & maintenance and strategic insights and tools to build a coaching business that brings 6 and 7 figures annually consistently. There is no fluff, no cultist following to any guru and certainly very little generic advice. Coach Accelerator™ is Silicon Valley for coaches, it is the strategic advantage, the behavioural insights and industry trends to build strategic competitive advantage, it is what the coaching business has been missing all this time.
Having a consistent flow of clients is a big challenge for almost any coach. How does .Coach tackle this challenge?
Ignacio Perez: A successful coaching business is based on two pillars. The first one is having access to the right insights to differentiate your business, create a new market of loyal clients and build a solid brand.
The second pillar is having the tools to execute on those insights. That is it. Of course, wrong tools mean wrong execution and poor results. Most coaches fail because they use generic tools which are not suited to their target audience. You can be the best brick layer in the world, but if I give you a chopstick the world will never get to know your potential, or worse, will think you are a poor bricklayer.
There is no way around this. You either have the two pillars or your business is a ticking bomb: sooner or later it will go under. Insights are gained by having the right analytics, trend spotting, and insider knowledge. The executing tools are all the automated systems, human capital and joint ventures needed to capitalize on insights and get the business moving meaningfully forward. Accelerator™ Fellows enjoy a dedicated team of over 30 professionals working with them to build these pillars. Insights + Execution = Results
.Coach is at just over $12 M a year in revenue. How has this experience been for you.
Ignacio Perez: Humbling, there comes a time where the money in the bank account does not motivate you anymore. Sure it is good, but if we were in it for the money we would have stopped a long, long time ago.
I was in my twenties when we started .Coach and never in my wildest dreams did I think we would enjoy the abundance we do now. The reason I get out of bed every day is because I know the work I do makes a difference.
When I think about it, we have gotten to work with some of the most brilliant minds in the industry. I am talking about Team GB Paralympians, MS survivors, Mr Universe Champions, Wall Street Directors, UN advisors, International Terrorism Experts, Advisors to the Monarchy… It is just an honour… It is an honour to be able to serve people who are pushing back at stagnation in their respective fields by bringing fresh perspectives to the table. It is very empowering.
How do you use technology to enable a consistent flow of clients for coaches?
Ignacio Perez: Coaching is not like any commodity out there such as Coca-Cola. Everyone can know the value and need for soda. It is a common product enjoyed by many and it is very widely accepted as a concept. All of this can not be said about coaching so far. A successful coach must educate and tailor to their audience. If not, clients are forced to buy something they don’t understand.
At .Coach we use clever systems (some of them proprietary technology)that build trust in coaching clients by adding value to their journey right from the beginning. This is not a pushy sales approach but a transformational relationship. The best thing of all is that this educational process happens without the intervention of coaches through automated systems custom built for each and every one of our Accelerator™ Fellows. The result? Coaches focus on what they love: coaching and nothing else.
What would you suggest to entrepreneurs who are just starting out?
Ignacio Perez: Champagne mentors and insights don’t come at soda prices. If you don’t know for certain where your next client is going to come from, what your competitive advantage in the market is or how your clients make decisions: you are a gambler not an entrepreneur. Without data you’re just another opinion, so make sure you before you ask for advice from unqualified, or worse, deceiving people, research who has the results you want to mimic and invest in them accordingly so they can get you to the next level. You will thank me later.