You've seen people start and grow successful online coaching businesses but sit there and wonder, "Can I do that too?" - The answer is "Yes!" ...and let me unpack ways to start an online coaching business.
Coaching online is not so different from coaching people in person. When you run an online coaching business, it's essentially the connection with people that differs, not the service you provide.
As so many coaches tell me, the desire to still offer one to one coaching is there, and the fear is that in pivoting to an online coaching business, they will lose the ability to do this. Let me tell you; you can still connect with people on a one to one basis. How you position your services is the key to making people understand what you have to offer in an online coaching business and for you to deliver services that you love.
What I would say when reading the rest of this blog is, not to get too fixated with any one of these services. Open your mind to alternative coaching methods that will attract more clients, enable you to serve a wider audience, make you more money and free up larger amounts of your time - it's all possible.
One to One Live Coaching
Coaching on a one to one basis does not have to happen in person. It's the traditional way that we think we need to deliver coaching services when starting a coaching business, but the technology we have at our fingertips today enables us to coach people online, using video calls and even on the phone.
One to one coaching services, however you deliver them, should be the highest price service within an online coaching business. Clients will appreciate the personal attention that you provide to them and will pay when they see the value of working with you personally.
It might not be that easy for you to get live coaching clients at first. You will probably need to build up your reputation and this can be done by offering other services first. Once you are established as an expert in your niche you can charge high prices for your one to one coaching services.
The only disadvantage of one to one live coaching is that you are selling your time. You will need to prepare properly for your coaching sessions and this will take time too. But in the end, you can grow an online coaching business very successfully, make a great deal of money, all for a small time investment.
One to Many Live Coaching
The value people get when being involved in group coaching sessions is huge. If you coach a small number of clients in the same coaching session, the questions and challenges that come up for some will be valuable to others. When one person is in the "hot seat" others will be listening in and see value in what is talked through. Some niches are more suitable to this approach than others. You'll need to manage these sessions properly to avoid several people talking at once and to keep a structure to the meetings. Keeping the numbers low is one way of doing this and having an agenda will also help.
Remember that you are selling your time here again, but are leveraging it with a group, rather than just one to one coaching. You will need to follow up with more than one person so make sure that you charge the right price for each client in the session.
Provide High-Quality Coaching Products
Let me be clear here, coaching is not training. Coaching is all about helping people to get to the point of realisation that change needs to happen. A coaching product should be something that offers the customer the ability to be inspired, challenged and be given the opportunity to step into a process of change.
Having said that, many successful online coaching businesses offer more than coaching. Training and mentoring services and products are also offered in the same way as coaching services. Successful coaches identify the problems that people are experiencing in the niche they are operating and then they create training courses that solve these problems. They use platforms like Kajabi to start with and make money online in doing this.
Digitally delivered, content-rich, coaching and training products are a great way to enable customers to test the water in working with you, but also a perfect way to add value and bonuses to coaching services.
Digital products also give you a way to generate passive income from your knowledge and skills as a coach in an online coaching business.
Similar to digital products, a membership website can generate a passive income and should definitely be in your plan for your online coaching business. There is nothing better than making money when you are sleeping or on vacation. Recurring passive income is the very best way to generate an income with an online coaching business. You can achieve this through a successful membership site where you charge a monthly fee for the delivery of coaching and training content.
You will need to put in some effort to create your membership site, keep it up to date and show true value with how you engage with your audience, but by far and away a membership website is a great way to grow an online coaching business.
Action Steps: To Grow and Online Coaching Business
- Get clarity on who you want to serve
- Choose how you want to offer coaching services
- Look at how you can leverage technology, groups and digital products to scale your business
- Sell time for money services as the most expensive offering you have
- Get started by using Kajabi today - more info at www.anthodges.com/kajabi