WW 232: 12 Boundaries I Set In My Money Coaching Business - Solo Show

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A Quick Recap from this episode

This week’s episode is all about the hottest topic of 2020/2021: boundaries. We’ve all been working from home and trying to figure out the boundaries between work and home, and this is something I’ve worked to master. When you think about the work we do for our clients, helping your clients manage their money and their income, that’s a really important boundary. It’s so important to have good boundaries in place, so I’m sharing 12 that I’ve implemented in my business.

The first 4 boundaries I have in place are around marketing:

1. Having an ideal client

You know my ideal client because you hear it over and over again: money coaches. Having a very clear ideal client keeps all the other boundaries in place and makes it really clear how I’m streamlining things, what content I create, etc.

2. Staying focused on my craft

Just like I have an ideal client, I also have only one key signature offer and one way I help people. This should be what you want to be known for. Now I do have some supplemental offerings that I have available but it’s always for that ideal client. So when I talk about what I do and who I serve, it’s really clear what and who I’m talking about.

3. Keeping my marketing practices simple

It’s one thing to say it and another to do it because it’s easy to get distracted. You have to refocus on where your clients are hanging out and create content that speaks directly to them. I solely focus on my podcast and Instagram and those are the only 2 things I put time and energy into when it comes to marketing.

4. Manage my time on social media

I put timers on my apps specifically and also on my screen time. Set realistic boundaries for the time you spend on apps and for the time you’re on your phone in general. If you’ve already used your time for the day, put your focus on the other things you need to be doing.

So those are the 4 marketing boundaries I have in place, and I wanted to start there because I think a lot of people are in the marketing phase and not yet in the coaching phase. But now I want to talk about boundaries I have for the coaching phase:

5. A boundary around free coaching

I don’t provide free coaching. It’s not something I think any of my clients should provide, because I think it actually provides your clients a disservice. We have to remember that what they’re doing is making an investment on improving their financial future. I definitely answer questions in DMs, but when it gets into a point of conversation where now it’s personalized, that’s when it’s getting into coaching and needs to be an investment.

6. The type of client I’ll take on

Very similar to having an ideal client for marketing, I have a very specific client that I’ll work with, and I keep this very specific around who it is. Different people come with different problems that they’re looking to you as the coach to help them solve. That means that you have to get resourceful in helping them solve these problems. If you have several different types of clients, that’s too many different types of problems.

7. Payment and what I’ll offer before collecting payment

A big piece of why this boundary usually gets disrespected is because people start to feel guilty about the payment and start to overdeliver before payment is made. It doesn’t have to be the full payment, and there are so many options to make your offer accessible, but there needs to be some exchange of funds. Be very clear about your payment schedule and what you’re willing to do or not willing to do before getting paid.

8. In scope vs. Out of scope

This is in terms of what I offer as a coach, so make it very clear what problems you solve, how you solve them, how the solution works, etc. This is usually obvious on a sales page but you could also put it in your coaching agreement. The biggest part of this is just to respect it. If a client asks you for something out of your area of expertise, hold to your boundary.

9. Call times

I put this on my calendar and let my clients know that they’re expected to be on time. If they need to cancel, they need to let me know 2 days in advance so we can rebook. Your time is precious and so is theirs, so you want to have an agreement for when and how sessions are going to go down.

10. Working hours

This is especially important for me since I’m international. Make your working hours and working days very clear to your clients so they know what to expect in hearing back from you.

11. Response times

This is another big one that can sideline a lot of coaches because they think they need to be on and responsive at all times. Have a clear boundary of when your clients can expect to hear back from you.

12. Length of coaching agreement

This is one that a lot of coaches don’t think about until it happens. A lot of times, even if you offer a certain number of sessions, if it’s not very rigid, it can kind of depend when clients schedule their sessions, and those can sometimes get spread out. When that happens too much, it gets into territory that isn’t profitable for you.

So those are my boundaries, and I highly recommend that you create your own versions of each of these as well. Having boundaries in place is so crucial to your success as a coach but also to your clients’ success.

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