Millionaire University - Kirsten Tyrrel

In the journey to becoming a successful coach, many aspiring professionals face similar challenges: fears around self-worth, confidence, and business sustainability. In a recent episode of Millionaire University podcast, host Kirsten Tyrrel interviewed Robin Waite, a renowned business coach, to discuss the often-overlooked aspects of building confidence, managing money mindsets, and balancing the passion of coaching with practical business acumen. Here, we’ll dive into the key insights and practical tips that emerged from their discussion.

What We Discussed on the Millionaire University Podcast

1. Face Fears Head-On: Fear is a common experience among coaches. Rather than avoid it, view fear as a signal for growth and lean into it to build resilience and confidence.
2. Define Your Worth with Confidence: Building confidence comes through action. New coaches should focus on the value they provide rather than solely relying on years of experience to define their worth.
3. Develop Essential Marketing Skills: Marketing is vital for coaches. Effective marketing communicates the value of services to clients and reinforces the coach’s confidence and reach.
4. Implement a Business Structure: Passion alone doesn’t sustain a coaching business. A structured approach helps convert enthusiasm into sustainable growth by setting goals, maintaining consistency, and adapting as needed.
5. Leverage Feedback and Adapt: Client feedback is invaluable for growth. Regularly seeking input from clients allows coaches to refine their approach, improving their services and increasing client satisfaction.
6. See Failures as Learning Opportunities: Every setback offers lessons. Reframing failures as learning moments reduces fear and fosters a growth mindset that’s essential for long-term success.
7. Balance Passion with Practicality: Being passionate about coaching is crucial, but it must be coupled with practical business strategies. This balance ensures coaches can pursue their passion while building a stable, profitable business.

1. Embracing the Fear Factor: Understanding and Moving Through Fear

Every coach—whether seasoned or just starting out—encounters a series of fears. For Kirsten, a sense of hesitation arose from concerns over readiness, especially when asking clients to make an investment in her services. Robin was quick to validate these feelings, recognising that fear is a natural part of stepping out into the unknown. He also offered a new perspective, suggesting that fear should not be seen as something to avoid but rather as an indicator of growth.

Fear is often rooted in two major areas:

• Fear of Financial Loss: Many worry about not meeting expectations, leading to potential refunds or dissatisfaction. Robin discussed how this fear, though valid, can be mitigated by setting expectations and reframing the service offering.
• Fear of Looking Unprofessional or “Stupid”: This is especially common for new coaches who feel they lack experience or authority. Robin pointed out that, in reality, people are so busy with their own lives that they are unlikely to remember small mistakes.

One key takeaway here is that the fear of looking foolish is often magnified in our own minds. Robin’s message was clear: embrace the discomfort, learn from it, and let it build resilience.

Practical Tips for Coaches:

• Identify Specific Fears: Pinpoint where fear is originating. Are you afraid of losing a client’s trust, or perhaps of failing to meet their expectations? Once the fear is identified, it becomes easier to address.
• Redefine Your Goal: If fear of failure is a concern, shift focus from a specific outcome to delivering value. The satisfaction of creating a positive impact often overshadows other concerns.
• Accept the Discomfort: As Kirsten noted, every success story has moments of discomfort. Acknowledging this can normalise fear and make it easier to act in spite of it.

2. Confidence and Self-Worth: Knowing Your Value as a Coach

Many new coaches struggle with setting prices that reflect their worth. For Kirsten, the challenge wasn’t about having confidence in her knowledge or her passion; it was about bridging the gap between her experience level and the investment she was asking from clients. Robin highlighted a crucial distinction here: confidence is built through action, not solely through preparation.

He also touched on an important industry issue: most certification programs do not offer business training, leaving new coaches with skills but no clear path to profitability. This lack of business acumen can undermine a coach’s confidence. To address this gap, Robin advocates for a “perceived value guarantee” rather than a results-based guarantee, helping coaches set realistic expectations while conveying the value of their work.

Practical Tips for Building Confidence:

• Use a Perceived Value Guarantee: Instead of promising specific outcomes (which may depend on client commitment), offer a satisfaction guarantee based on perceived value. For instance, let clients know that if they don’t feel they’ve received their money’s worth after a set period, a conversation about possible refunds is open. This approach conveys confidence without guaranteeing outcomes beyond the coach’s control.
• Find the Right Support System: Coaches need mentors or communities who can offer business insights beyond certification programs. By focusing on developing a solid support network, coaches can bridge their skill set with practical business knowledge.
• Reframe Your Mindset: Rather than focusing on your shortcomings or lack of experience, recognise the value of your unique perspective. Shift the focus from self-doubt to the value you bring to the table.

3. The Importance of Marketing Skills in the Coaching Industry

A lack of business and marketing skills can lead to significant hurdles for new coaches, who may otherwise be passionate and skilled. As Robin noted, he’s approached certifying bodies to address this gap, only to be met with resistance. Coaching programs often leave out fundamental business skills, which can create a steep learning curve for coaches who want to attract clients and build a profitable practice.

Kirsten, with her background in marketing, acknowledged the importance of these skills. Her experience shows how marketing is integral not only to growing a client base but also to fostering a sense of confidence in a coach’s own value.

Practical Tips for Marketing as a Coach:

• Use “You” Language in Marketing: Rather than centering your messaging around “I” and “me,” flip the focus to the client by using “you.” For instance, instead of saying, “I help people build confidence,” say, “You will discover how to unlock your confidence.”
• Leverage Social Media with Low Pressure: Start small with social media platforms, focusing on value rather than perfection. Don’t worry too much about looking polished or professional at the start—being authentic can be just as effective for building an audience.
• Craft a Clear Value Proposition: Articulate what you offer in a way that resonates with prospective clients’ needs. If they can see themselves in your messaging, they’re more likely to be interested in your services.

4. Balancing Passion with Practicality: How Structure Fuels Growth

One key insight from the conversation was the role of structured frameworks in turning passion into success. Robin observed that while passion drives many to enter the coaching field, it doesn’t guarantee success. What determines the sustainability of a coaching business is the framework applied to that passion.

Without a plan, coaches may lose momentum or become disheartened. Kirsten shared that entrepreneurs often begin with immense excitement, but the ones who reach success are those who consistently show up, learn, and push through fear with structure and resilience.

Practical Tips for Building a Sustainable Coaching Business:

• Create a Roadmap for Growth: Start with a small, achievable plan. Define goals, set milestones, and track your progress. This approach can help ground your passion and provide a clear pathway forward.
• Establish Consistency: Make a commitment to consistently show up for your clients and yourself. This could mean regular social media posts, blog entries, or client check-ins that help keep you on track.
• Seek Feedback and Adapt: Regularly engage with clients for feedback and be willing to refine your offerings. This adaptability will help you continuously improve and tailor your approach to meet client needs.

5. Facing Failure as a Learning Tool

In the end, both Robin and Kirsten acknowledged that every successful entrepreneur has faced setbacks. Robin reinforced that fear of failure—whether it’s losing money or looking “stupid”—can often be blown out of proportion. By taking action, you minimise the impact of these fears and realise they are less catastrophic than they appear.

Robin shared an empowering personal story about challenging the traditional networking pitch format. By starting with the word “you” instead of “I” and speaking directly to his audience’s challenges, he created an instant connection and achieved results. This approach, though unconventional, allowed him to stand out and highlight the value he could bring to others.

Practical Tips for Embracing Failure:

• Debrief After Setbacks: Take time to reflect on what went wrong, identify lessons, and make adjustments moving forward. This creates a growth mindset that sees failure as a stepping stone to improvement.
• Practice Mindfulness: Instead of overthinking past mistakes, stay present and focus on your current goals. This habit can help minimise the impact of fear.
• Reframe Mistakes as Experience: Every stumble is an opportunity to gain insight and strengthen your skills. By reframing failures as necessary steps in the learning process, you can cultivate resilience.

Final Takeaway: The Journey to Confidence and Business Acumen in Coaching

Robin and Kirsten’s conversation shed light on the layered challenges coaches face. Building confidence, balancing passion with structured growth, and refining marketing skills are essential to coaching success. Whether you’re just starting out or seeking to level up, remember that confidence comes from doing, and each challenge is a chance to grow.

If this resonated with you, consider following Robin’s YouTube channel for more insights or reading his book Take Your Shot, which provides further guidance on overcoming obstacles in business.

As Robin emphasised, lean into resistance, embrace discomfort, and watch as each step moves you closer to the coaching success you aspire to achieve. The path may not always be easy, but with the right mindset and tools, it’s undoubtedly rewarding.

Check out more stories, strategies, and tips from successful entrepreneurs on the Millionaire University podcast!