Coaching Side Gig for Physicians
(Tips for becoming a coach)
There are many ways for physicians to get involved with coaching, depending on their area of expertise. If you are interested in health coaching, there are multiple companies that can help facilitate this. However, if you want to coach in a niche market with your own business, you certainly have expertise that can be valuable. Some of our physicians have developed successful careers coaching in the fields of physician nonclincal careers, weight loss, practice building/management, chronic disease management, etc.
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Tips for a Coaching Side Gig
Choose something that you're passionate about and knowledgeable about, not just because it's the 'in' thing. Trends come and go, and you have to love what you're doing, because it's that passion that will make people gravitate towards your services.
Establish a brand. You need to demonstrate why you're an expert in something, and why people should pay for that expertise.
Figure out what your liabilities are, and address them. This may include some or all of the following (and maybe other things!): a corporate structure such as an LLC, disclosure/disclaimer statements, and liability insurance.
Screen your clients, and establish expectations. You want clients who you can deliver results to, and whose goals align with your own. You want to make sure that you can provide value, and should spend the time figuring out what they want to get out of the relationship. Make sure that they don't have unrealistic goals for what you are able to provide. Happy clients bring more clients - unhappy clients can damage your reputation.
Use a contract, and when possible, try to get paid upfront. A good contract is key to documenting expectations. Coaching relationships can become rather involved. Also, because many of these payments are from person to person, you are relying on someone that you don't know to pay you once you deliver your services - given that you have already delivered the service and you can't take back knowledge once given, getting paid before makes a lot of sense. There are many different ways to get paid, including personal check, PayPal, Zelle, and Square.