How To Grow Your Coaching Business: 6 Secrets To Success
ARE YOU READY TO GROW YOUR COACHING BUSINESS?
How to grow an industry leading coaching business, training program, platform or course. There’s a big difference between being a coach, and having a successful coaching business. Even the most successful coaches struggle to achieve high levels of clients success if they don’t have the right business systems in place.
In this digital age, you may find it challenging to grow your coaching business. In this highly competitive world, many online coaches face the threat of being overshadowed by more established players. That’s why it is important for you as a coach to stand out from the rest and constantly think of ways to set yourself apart from others in your industry.
The only way to do that is by coming up with new strategies for growing your own business. In this guide, you will learn how to ensure your coaching business is set up for success. If you’re aiming to grow your coaching business to seven figures and beyond, this is for you.
How To Growing A Profitable Online Coaching Business – Written Guide
How To Start an Online Coaching Business
Did you know that online education is one of the fastest growing fields in the world right now? It’s true, and there are many benefits to starting an online coaching business.
People want to learn new skills but also work around their busy lives. Starting an online coaching business lets you align your passion with a lucrative career.
If you’re ready to take the plunge and start your own coaching business, this blog post will give you all the information you need.
Learning about how to start an online education or coaching business isn’t easy, but we break it down for you so that it doesn’t feel so daunting. Keep reading for everything you need to know about starting an online coaching business from home!
3 Main Types Of Coaching Businesses
As a coach, it is crucial for you to understand what kind of business model you want to follow. There are three main coaching business models that you can choose from.
One-on-one coaching business:
The first coaching business model is the one-on-one coaching model. This is probably the most popular model these days.
With this model, you will be meeting with one client at a time, either face-to-face or online. One-on-one coaching require a high demand of your time and therefore, limit how many clients you can work with at any one time.
Group Coaching packages:
The second coaching model is the group coaching model. This model is different from the one-on-one model in that multiple clients meet together as a group.
Group coaching allows you to take on more clients, but still has a cap on your potential to take on clients
Online coaching programs:
The third coaching model is the online coaching model. With this model, you don’t have to meet your clients in person. Rather, you can host online coaching sessions through a website or a digital coach platform.
Online coaching programs have unlimited capacity as they require little to no time per client to delivery.
Creating an Online Coaching Business
Creating an online coaching business can be a great way to share your knowledge, help others, and also earn money in the process.
An online course is essentially a guided set of lessons that cover a specific topic in detail.
These courses are often created as videos, blog posts, or some other type of digital content. The student follows these lessons at their own pace until they have completed them all.
There are many ways you can create an online course, and it’s not as difficult as you might think! If you have something useful to share with others, now is the perfect time to create your own online course.
What is an Online Course?
An online course is a series of lessons that guide students through a particular topic. These courses are often created as videos, articles, or some other type of digital content.
The student follows these lessons at their own pace until they have completed them all. There are many different types of online courses, and they’re offered in just about every field you could imagine.
If you’re interested in a particular topic and want to share your knowledge with others, creating an online course is a great way to do that!
Online courses are becoming more and more popular with each passing year. But why are they so popular?
Well, the main reason is because they offer flexibility and convenience for the students. Anyone can sign up for an online course and learn from the convenience of their own home, whenever they want.
No more having to take time off from work to attend a seminar or class!
Tips For Creating a Great Online Coaching Business
Creating an online course is a great way to share your knowledge, help others, and also earn money in the process.
If you have something useful to share with the world, you can create an online course to do so. There are many reasons why you might want to create an online course.
An online course is a great way to share your knowledge, help others, and also earn money in the process.
If you have something useful to share with the world, you can create an online course to do so. If you’re ready to create your own online course, you’ll want to follow these steps:
1. Make Your Content Simple
Many coaches feel they must overdeliver to their clients by packing their programs with hours and hours of content and information. Users don’t purchase a program just to watch videos, they want results.
Aim to keep your content short and to the point.
2. Expand The Service Scope
While content is a good place to begin, it is not enough to transform someone’s life by itself. Maximising client success requires ensuring users are taking the right actions.
To accomplish this, you must consider every step that a user must take in order to achieve their goal.
Although there are countless variables to consider, what distinguishes the top businesses is their ability to go above and beyond.
3. Maximise Internal & External Motivation
The term internal motivation refers to a user’s desire to achieve a specific outcome or goal. A user is motivated externally whenever they are pushed forward by a force outside of themselves.
To complete most programs, the user is entirely responsible for motivating himself or herself.
Users will be more motivated to complete a program if it is broken down into smaller, simpler steps.
To keep users engaged, you can also add external motivations, such as accountability or milestone calls.
“Dopamine is the primary neurotransmitter responsible for motivation, however serotonin also plays an important role as it impacts our response, or sensitivity to dopamine.
Someone with lower levels of serotonin is not going to feel the effects of dopamine as much as someone with higher levels of serotonin.
If we rely entirely on users’ internal motivation, there is always going to be a large segment of users that are simply less motivated to take the action, and therefore, less likely to get the result.”
4. Track User Behaviour
As any analyst will tell you, their predictions are only as good as their data. Understanding the problem you are trying to solve will help you take client results to the next level.
“Analyse the program in its entirety and break it down into its different steps. Next, determine how many users are getting to each step, and what you can do to increase that number.
After doing that every day for 2-3 years, you’re going to be able to build something pretty great.”
5. Focus On The Basics
‘Do the basics, better’ is an Instinct company tenet.
The best businesses always do the basics. Rather than adding new things to make things better, focus on improving the basics, the foundations of what you do, and spend your time ensuring they are great.
It’s the small 1% improvements over time that lead to amazing client results.
How To Price My Coaching Services
In order to ensure your coaching business is profitable, you need the right pricing structure in place.
No matter what type of coaching business you have, your pricing is going to determine the type of clients you attract, and the level of client success you achieve.
Therefore, charging ‘High-Ticket’ is always recommended.
Many coaches, especially new coaches, think they should offer their services for free, however free coaching almost always results in poor client results. Great clients are paying clients, and great coach isn’t one that uses a free offer.
How To Make Sure My Clients Get Results
As you’re getting started it is common to start to doubt your coaching skills, wondering why clients would want to work with you over a more successful coach online.
Understand this is normal, but the only way to grow a successful business is by working with new clients and developing your skills.
Here are a few tips to help ensure you’re able to delivery amazing results to your clients:
– Make sure your coaching business and offer has a clear outcome. What are the results that you are promising to deliver? You should have a clear outcome in mind before you even start coaching anyone.
– Always deliver what you promise. If you promise to help your clients achieve particular results and they don’t get them, they will feel deceived and they may not use your services again.
This is why it is important that you always deliver what you promise to your clients, and ensure you only work with the right clients from your target audience.
– Take notes during your coaching sessions. Taking notes during coaching sessions is a great way to make sure that you are delivering what you promise.
It is also a great way to track your progress and make sure that you are moving in the right direction.
– Ask your clients what they want. If you want to make sure that your clients get results from your coaching services, it is important that you ask them what they want.
You should always ask your clients what their goals are and what they want to get from coaching.
Invest in yourself – If you are not able to invest in your own coaching business, you shouldn’t expect clients to invest in you.
A business coach can show you how to improve your abilities, both as a coach and business owner.
Where Can I Find Coaching Clients?
You can find coaching clients in various places, online and offline. Here are some places where you can find clients for your business, but for a complete breakdown how to find coaching clients, check out our complete walkthrough guide here.
Social media is a great way to market your coaching business. You can use social media platforms like Facebook, Instagram, and LinkedIn to let people know about your services.
Make sure that any social media post is relevant and useful content so that people can see that you are an expert in your field.
If they engage, you can offer them a free sales call to explain how your coaching business could help them.
Paid marketing strategies, such as Facebook ads or Google AdWords are another great to grow your coaching business.
You can target your ideal clients and have your message shown directly to them before booking them in for sales calls.
Another paid marketing strategy is ‘retargeting’ people who’ve visited your site or engaged with you online already.
Paid ads work best when used with a sales funnel, such as a landing page, to help warm up your target audience to ensure they are your ideal clients.
Networking events can be a great way to meet potential clients and build trust with them. You can attend coaching-related events to meet other coaches in your local community and let them know about your coaching business.
You can use tools such as Facebook groups to take this strategy online. You can almost always find your ideal client within a Facebook group, or post content in groups to attract your target audiences to you.
Posting website content, such as a blog post, can be an effective long-term marketing strategy, however when you’re starting out, you might want to focus on other strategies first to build up a steady stream of new clients, serving as a strong foundation for your coaching business.
No matter what strategy you use, make sure you are committed to spend time on business growth actives each day to grow your coaching business.
Grow Your Coaching Business With Follow-up
If a lead drops off or is not ready, you should definitely set a reminder for yourself in the future to follow up.
Following up can actually increase the number of calls you have by 300%. To maximise the effectiveness of your followup strategy, consider the follow:
Lead With Value
We all know what it’s like to receive daily phone calls and text messages from someone following an inquiry you may have made weeks, or even months earlier. If that experience can teach us anything, it’s that there’s a fine line between the pleasant type of follow up, and the “I’m-blocking-you-and-getting-a-new-phone-number” type of follow up.
While it’s easy to assume that the “fine line” is somewhere around the 3rd and 19th call, it actually has much more to do with the value of the call than the frequency.
Effective follow up requires value. Every time you follow up with a potential coaching client, ask yourself “what value am I offering this person?”. If the best you can come up with is “reminding them of my existence”, you might want to hold off. A much more effective way to follow up with leads is by offering useful and relevant content, training, tools or resources, for example:
“Hey John, following our chat last week I made this training video for you showing how to [OUTCOME]”
“Not sure if you missed this last message, but if you did you may have missed this [TOOL] I just posted. I thought you might like it, here’s the link!”
“I know our call was cut short yesterday so I spent some time reviewing the information you sent earlier and made you this PDF, check out it when you get a chance”
This is the type of follow up that prospects welcome and even look forward to. Oh, and another benefit – it actually works! The result of a little extra effort is significantly more sales and clients (plus fewer blocked phone numbers)
Starting a coaching business is no easy feat. It can be difficult to keep your clients engaged and make new ones.
With that in mind, it is important that you follow the steps above to grow your coaching business. By following these steps, you can build a successful coaching business and help more people.
You can click here to watch the How To Grow Your Coaching Business video on YouTube.
You can click here to watch out our free online course for coaches, Genesis.
If you want help starting your coaching business, click here.
If you want to work with our team of business coaches, click here.
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