Elizabeth Canon: Five Things You Need To Create a Highly Successful Career As a Life or Business Coach

The coaching industry is now tremendous. It is a 15 billion dollar industry. Many professionals have left their office jobs to become highly successful coaches. At the same time, not everyone who starts a coaching business sees success. What does someone starting a career as a life coach, wellness coach, or business coach need to know to turn it into a very successful and rewarding career?

In this interview series, called “Five Things You Need To Create a Highly Successful Career As a Life or Business Coach” we are interviewing experienced and successful life coaches, wellness coaches, fitness coaches, business and executive coaches and other forms of coaches who share the strategies you need to create a successful career as a life or business coach.

In this particular interview, we had the distinct pleasure of interviewing Elizabeth Canon.

Elizabeth Canon is a Master Coach and entrepreneur devoted to helping more women thrive in entrepreneurship. In her coaching practice and private membership app, Elizabeth helps women master the practical and mindset skills needed to take the lead — in business and life.

Thank you so much for joining us in this interview series! Before we dive in, our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and what brought you to this particular career path?

Fifteen years ago I worked in sales at a small creative agency in Manhattan that specialized in website design and development. The agency didn’t have many well-known clients at the time, and it was my job to grow the business. In a few short years, I helped the company triple in size by bringing in big-name clients like Movado, Christian Dior, Lexus and others. I was so successful in my role they awarded me the title of partner. It was a thrilling time for me, full of growth and the feeling of personal success. But, as things evolved and time went on, I could see the industry was changing (ecommerce and social media were entering the mix) and I had my own ideas for how the agency could to continue to prosper.

Ultimately, those ideas were not shared by the founders, who had other ideas for the business. Even though I was a partner, it became clear to me that, unless I was an owner, my decision-making was limited. That was the moment I realized the ultimate security isn’t in a steady paycheck, it’s in your ability to call the shots.

When I left to start my own consulting company, I thought, “If I could sell so well for the agency, I can certainly sell on behalf of myself.” But I couldn’t have been more wrong. I learned the hard way that being in business for yourself requires mastering an entirely different set of skills — skills that are not taught in most certification programs, business schools, and are not modeled within corporate environments. By learning this, I was able to grow a consulting company that counted iconic companies like CHANEL and American Express as clients. I was even flown to Florence, Italy to lead a day-long workshop at the Gucci headquarters.

I found a new sense of success in building a company myself, but years into being an entrepreneur I felt something was missing. Even though my company was successful on the outside, inside I was lacking a sense of deeper satisfaction. This launched me on a personal growth path where I invested the equivalent of a Harvard MBA in my own self-directed education. I worked with the country’s most prolific coaches, I participated in masterminds, attended retreats where I stayed in yurts on remote islands, and meditated on surf boards in the Pacific Ocean. Along the way I learned how to access the more powerful parts of myself and apply them to building a business and a life that felt more uplifting, authentic and enjoyable to me — and that was also more prosperous.

I started coaching other entrepreneurs on how to do the same, and here we are. I have a private coaching practice and I run a global membership for women entrepreneurs called Age of E. At the heart of the membership is a private mobile app with a living library of content with both practical lessons and mindset shifts.

Everything I do is centered on becoming an Enlightened Entrepreneur — which is essentially a commitment to growing your business without sacrificing the things that matter most in your life.

Interestingly enough, many of my former corporate clients are interested in this, too. They see how critical it is to create a more entrepreneurial culture within their organizations, both for innovation and for talent retention.

You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?

#1 Self-awareness. For a long time, I was self-conscious instead of self-aware. I worried about how I was being perceived, and I see this a lot in other coaches, consultants and entrepreneurs who leave their full-time roles. They want to look like they are successful on the other side — which I get, it’s human nature. But this causes them to be pre-occupied with the wrong things and they miss opportunities to serve others (which is what coaching is all about) because they’re stuck in their own heads. When I shifted from being self-conscious to being self-aware, that was a big turning point, both internally and in my business. I recall speaking to a potential client about an elite mastermind I was enrolling for. The call was going well and she asked for more information. When I shared the fee with her, she got upset — in fact, she got angry.

She thought that was way too much money and how dare I charge so much. Of course she wasn’t mad at the price tag, she was mad because she felt drawn to something that she wanted to participate in, but felt she couldn’t because of the money. That’s what she was really mad at. My old self-conscious self would have been embarrassed by her reaction, I would have tried to smooth it over for her. But the self-aware version of myself knew it wasn’t really about me, and that anyone could have any reaction they pleased when it came to my fees, or anything else about me for that matter. I knew whatever the fee was, it was not going to be for everyone. I also knew what I was offering was valuable way beyond the fee I was charging, and I had many other people already enrolled at that price point, so I was able to see her reaction for what it was, her own stuff. But I wouldn’t have been able to do that if I had still been self-conscious.

#2 Courage. I believe we all have courage inside us, we just don’t all act courageously. Any entrepreneur is brave enough to take a leap into the unknown. They are willing to follow an inner spark, do something they likely have never done before, and see what happens. It’s not courageous to have an idea, a dream or a vision for your life. What’s courageous is to take action toward it. To say aloud you are taking on one new client, to propose working with someone, to quit your job, to keep going when none of it seems to be working as fast as you want — courage is required.

#3 Communication I have always been a good communicator in certain ways. I am a good listener, the greatest skill for anyone who wants to be their own boss, and an empath. I ask different, deeper questions that lead to the heart of things quickly. I am generally poised, articulate, and have a love of language. I am a good speaker and presenter. Because of my introvert tendencies, there are other forms of communication I am not good at, like small talk, pop culture, being in large groups, and escape rooms. However, in business, my communication skills have set me apart — not because I give good talks on stage, necessarily, but because I have matched my self-awareness and courage with how I communicate. Let me explain. I use my self-awareness to determine how I feel in a given situation, how I want to feel, and what I want to happen. Then, I use my courage by being willing to take a stand for this. Finally, I communicate what I see and lead with what I want in a way that is clear, direct, professional and comes from a place of respect and love. In stating what I want, I acknowledge how this will benefit the other person and our work together, and by asking if they are willing to do it that way, I create trust and build strong working relationships.

How have habits played a role in your success? Can you share some success habits that have helped you in your journey?

Habits are our auto-pilot programing, so it’s important to pause long enough to examine them, and if they are helping us get closer to what we desire…or not. Some habits that have been helpful include a willingness to take risks, even outside of logic. My habit is following what feels enlivening, which often defies conventional wisdom. But then again, I don’t want a conventional life, or business. As a coach, you shouldn’t either. Especially because so many coaches are struggling. If you’re going to transcend the status quo, doing things differently will be a requirement.

Another habit I’ve worked on over the years, and continue to, is listening. As a coach, it’s important to listen to your own instincts, to life and the direction it’s pulling you, and to your clients. Listening first is a habit of strong leadership. This is integral to being a coach that has a successful business, because it will help supercharge your coaching, which will bring clients, renewals and referrals.

In my coaching business, I have created a system I share in my membership and with my 1:1 clients who want to build thriving businesses. I’ve learned this from coaches and mentors I’ve worked with and as I’ve implemented it over the years, I’ve fused it with my own experiences to create a sort of curriculum that leads to a full client roster and lucrative business. This system has become a habit. I have a habit of filling my calendar with conversations, of listening for people’s struggles, helping them and proposing we work together when it feels aligned. I track my conversations, the amount of money I’ve proposed each month and the amount of money I’ve created. I keep a list of people I am serving, either because they are clients, or because we are having conversations to see if we will work together. Tracking has become a habit. This helps me know if I’m doing what I need to be doing to create the income I desire.

I have a habit of eating lunch so I don’t turn into a monster when I stop work at 2:30 to spend afternoons with my kids.

I have a habit of cleaning up my messes. As a human, I’m not above making a mess of things sometimes. This might mean procrastinating on something important, making a jerk comment to my husband, being short-tempered with my kids, not responding to an email I meant to…. I have made a habit of running constant inventory to clean up my messes. Sometimes it’s making an apology to clear the air, sitting my butt down to send an email, repairing a tough moment with my kids. Now, I do this daily and without thinking much about it, but in the beginning it was more of a concentrated effort and I’d block out time for it every week. Being someone who cleans up their messes means you can move through your life more fluidly, with less mental baggage, which makes you more free, more powerful and more available for the things that matter most. Really, it makes you feel like a badass who handles sh*t.

Speaking in general, what is the best way to develop good habits? Conversely, how can one stop bad habits?

I’ve always found the best way to create is to eliminate. Most people think to create something you desire you have to add lots of new things, but I’ve always found the best way is to eliminate. What’s something you’re doing that isn’t working? That isn’t getting you closer to your goal? Stop that. Just stop. Then, in the space that gets created, you can decide what new thought or behavior you want to build.

Can you share your favorite “Life Lesson Quote”? Why does that resonate with you so much?

“Don’t ask yourself what the world needs. Ask yourself what makes you come alive, and go do that, because what the world needs is people who have come alive.”

― Howard Thurman

The reason this resonates with me so much is because, especially in business, we tend to do everything from our minds, from a place of intellect. This leads to over-thinking and a disconnect from your truest self. But if instead of strategizing your way to your next move, if you listened to what makes you come alive, which is a feeling, you have a new input, a way of honoring your intuition and prioritizing how you feel while you build your business.

What are some of the most interesting or exciting projects you are working on now? How do you think that might help people?

I love how you phrase this question. I’m so tired of meeting people and they ask, “So, what do you do?”. I much prefer the question, “What are you working on now that you love?”, there’s so much more possibility inside that question. Plus, however someone responds, whether they talk about the cat sanctuary they are volunteering at or an innovation project their team is working on, when they talk about it from a place of excitement, it’s magnetizing and always so much more interesting to hear.

I am on fire about several things I’m working on at the moment. I launched a private mobile app which is a membership for women entrepreneurs. It’s an incredible resource and the investment is minimal ($40/month). Because I only work with a small number of clients at a time, it was important for me to find a way women could access coaching and community outside 1:1 coaching, and for a much lower fee. There is a living library of audio content, over 150 recordings and growing, that are both practical lessons and important mindset shifts to support women in business in making clearer, more aligned and successful decisions. There are also live gatherings every month that build connection and community for women entrepreneurs.

I am also launching a course on how to create and grow a Service-Based Business. In it, I share step-by-step how to create a successful consulting, coaching, or other service-based business without ads, digital marketing or needing to create an online business. To me, those things can come after you’ve learned and mastered the skill of enrolling clients and filling your practice. This way, you always know you have the skills to make money when you need to, without relying on technology platforms that can change things overnight.

Ok super. Here is the main question of our interview. Many coaches are successful, but some are not very successful. From your experience or perspective, what are the main factors that distinguish successful coaches from unsuccessful ones? What are your “Five Things You Need To Create a Highly Successful Career As a Life or Business Coach”?

I would actually put it differently. I’d say many coaches are not very successful, but some are successful, because I think that’s the truth. Coaching is a difficult profession to prosper in because it requires a different skillset than other professions. And so, while whatever a person’s background is will undoubtedly give them unique life experience that makes them a better coach, it will not make them money.

In my opinion and experience, successful coaches do these 5 things:

1. Know how to make money and create clients on-demand. So many coaches get certified in how to coach, but many of these programs don’t teach how to get clients. Then there are those that focus on using social media and building a platform before you can get a client. This is fine if it resonates with you, you enjoy it and have a longer runway before you need to make money. For me though, I wanted to know I could create money when I needed it, without relying on social media. This meant investing in learning the art and science of client enrollment. I didn’t want to build a business where one change of an algorithm could upend my entire business. Ideally, in my opinion, you want to learn how to create clients yourself, fill your coaching practice, and then see how you might use social media and digital marketing to scale and grow.
2. Focus their calendar around income-generating activities. So many coaches are busy all day, but they don’t have much money to show for it because they are busy doing things that don’t move the needle forward. My suggestion is to learn how to be full instead of busy — full with income-generating activities instead of busy with “business work” that doesn’t create actual clients now.
3. Constantly invest in their own learning, growth and development. All of the most prosperous and impactful coaches I know are always working with their own coaches, attending seminars on topics that interest them, being out in the world doing things that light them up, and finding ways to bring all of this back to their clients. This creates powerful work that continues to evolve. This is why I have had coaching clients stay with me for years and years, because they are changing in the work we are doing, I am changing in who I am and how I’m growing, and so our work together is constantly being elevated.
4. Continue to create a pipeline of future clients even when their current roster is full. It can be easy to make the mistake of turning your attention to your current clients, but successful coaches know that they always need to reserve some space on their calendar to have conversations with new people, because this is what creates a continuously full practice, with a waiting list, instead of a boom, bust cycle.
5. Run their business like a business, instead of like a hobby. For example, they review the number of enrollment conversations they’ve had, how much money they have proposed, what their conversion rates are. Then then look for ways to improve and get even better.

What are the most common mistakes you have seen coaches make when they start their business? What can be done to avoid those errors?

They busy themselves with tasks that don’t get them coaching fast enough. Tasks like perfecting their website, getting business cards made, ramping up their social media profiles…all of these things are fine, there’s nothing wrong with them, except that you want to start coaching now, not postponing your service until you have the perfect image in place. The truth is that you don’t need any of these things to create your next client.

Based on your experience and success, what are a few of the most important things a coach should know in order to create a Wow! Customer Experience? Please share a story or an example for each.

In my book, there’s only one thing: SERVE them as if they are already your client. Help them see what working with you is like by giving them the experience of working with you — before they’ve hired you or paid anything. Too many coaches are trying to churn out a high volume of leads and clients. They don’t want to “give too much time” to someone who isn’t paying them. And yet, most people don’t know what it’s like to have a coach, and if they do, they don’t know what it’s like to coach with YOU. Slowing down and serving them helps them see the value of partnering with you, and you get to see if they are coachable.

People are so used to being “sold to” and convinced of things that if you honestly, whole-heartedly serve them, it is the biggest asset in building a business. Even if the person doesn’t become a client now, or ever, they will never forget how you took time and actually helped them with their life. They’ll be more likely to hire you in the future or refer someone to you.

Lead generation is one of the most important aspects of any business, and particularly in coaching. What are the best ways for a coach to find customers? Can you share some of the strategies you use to generate good, qualified leads?

Clients are everywhere because clients are people! Once you realize this, you’ll see that potential clients exist across so many areas of your life. You’re not “hunting” for your next client, you’re looking for problems to help people with. It’s that simple. When you talk to someone, listen for their problems, the things that are weighing on them. Generally, people only pay for something they believe is going to help them transform an area that is highly important to them. Your job with anyone you meet is to see if you can help them do this — so look for problems.

I’ve met clients glamping in the Adirondack Mountains around the campfire, at a Tony Robbins event, a women’s retreat on Salt Spring Island, at the gym, the list goes on.

I also regularly commit to certain activities like being a guest on podcasts, hosting Enlightened Entrepreneur events, lunches, writing blog posts, sending regular email newsletters, etc. This isn’t to “get” clients, it’s to serve people around my mission. For some people, attending an event or reading an email newsletter will give them all they need at the time — which is great. Others may wish to go deeper — these are the people that I invite to something further. For me, this could be my 1:1 practice, or I might invite them to join my private membership or mastermind group if my practice is full. It’s not important to have a lot of offerings, especially if you’re just starting out, one is plenty.

In a more focused way, I create clients by inviting people into conversation. If in meeting someone I hear something they are struggling with, and I see a way I may be able to help, then I invite them into a conversation. In this conversation I serve them as if they were already my client. Sometimes, at the end they ask how we might continue together, at which point I may share about how I work, my fees, etc, or I might not share this yet. If I feel there’s more to discuss and another conversation would be helpful to them, I offer that. It may take 2 or 3 conversations like this before I propose working together.

Coaches are similar to startup founders who often work extremely long hours and it’s easy to end up burning the candle at both ends. What would you recommend to your fellow coaches about how to best take care of their physical and mental wellness when starting their business?

You are your business’ biggest asset. You are also a model for your clients. Even if you don’t talk much about yourself in your coaching sessions, who you are being in your life, and how you are showing up for yourself is something that is felt by others — whether they are conscious of it or not. The truth is that the more you show up for yourself, the more powerful you become, and people can sense this. Clients want coaches because they desire to up level or transform some area of their lives, which will always require they step into a more powerful version of themselves. It is your job to do that for yourself so that you can be effective in helping your clients do the same.

For so many years I put exercise on the back burner, fitting it in where I could, which was largely inconsistent and unintentional. Back when I wanted to join the fancy gym near my house, I worried about two things: adding another bill to pay, and if it was advisable in my business to take so much time out of my day to workout (which was about 2 hours including driving and showering time). Luckily, my coach at the time helped me unravel this decision. Ultimately, I joined the gym with a clear intention: to go 5 times a week (4 was still a win) and to get at least one client there (which would pay for the entire year’s membership and then some).

Everyday I took 2 hours to go to the gym. I was so happy to be there. I LOVED taking classes, celebrating my body by using it and pushing it, being in the sauna, all of it. This love came through in who I was being when I was there. I was talkative and open. I wasn’t looking for clients, per se, but I was actively creating conversations by being myself. It only took one month to create my first client — who I met naked in the sauna!

Putting yourself, and your health, on the back burner doesn’t help you in coaching. Sure, there may be times where you decide not to give as much time to your health — say because you have a goal you’re working toward in your business or something else is happening in your personal life — but it is my advice to do this deliberately and temporarily.

The one caveat I’ll add here is that, to make the time to honor your health and mental wellness, and still make enough money, you need to have a curriculum in place so you know exactly what needs to be done during your work time in order to create clients. It won’t be effective to spend hours on yourself and then busy yourself with work tasks that don’t move the needle forward in your business.

You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. :-)

I already stand for a movement I wholeheartedly believe in: being an Enlightened Entrepreneur. Too many people make the leap into entrepreneurship for freedom and possibility, but end up feeling like their business is a pressure cooker. In their pursuit of success they sacrifice the things that matter the most to them in their lives. But there is another way! The path of the Enlightened Entrepreneur allows people to re-write their own definitions of success and reclaim agency over their lives and business in ways that are aligned with who they really are, so they can enjoy, prosper and contribute more in their lives because of their businesses.

We are blessed that some very prominent names in Business, VC funding, Sports, and Entertainment read this column. Is there a person in the world, or in the US with whom you would love to have a private breakfast or lunch, and why? He or she might just see this if we tag them.

How fun to think about this. I would love to have a conversation with Meghan Markle. I appreciate that she is also a champion of women entrepreneurs and a living example of what it means to make hard decisions that are self-honoring.

How can our readers further follow your work online?

Subscribe to my newsletter: https://www.ageofe.com/subscribe

Become a Member of the Age of E: https://www.elizabethcanon.com/membership

Follow me on Instagram: https://www.instagram.com/elizabethcanon_/

This was very inspiring. Thank you so much for the time you spent with this. We wish you continued success and good health!