Not all business models are created equal.
You need to choose the best business model for YOU & YOUR BUSINESS.
There are 3 main business models to choose from. Which of the following defines where you are in your business?
1) The Total Newbie
If you just started coaching, you haven’t done any coaching before whether in your local area or online, then you need to start by offering one-on-one coaching packages.
For a couple of reasons:
– It’s the model that requires the least effort.
– You need to know your clients, their problems, their desires and the outcomes they want to achieve.
– You need to tune into your own coaching style and process.
2) The Surviving Coach
You’ve been coaching for a couple of years. You might have reached your limit with one-on-one coaching. You want to grow your business but not sure how to do it. You might have tried offering online courses or subscription-based membership programs only to see them flop. So, you’re wondering what are you doing wrong?
Its not your fault, since a lot of coaches promote online courses as the best way to earn money in your sleep (don’t get me wrong, it is). But not for this stage of business.
What you need is to offer a group coaching program.
You might have tried doing so just to see it flop, too.
For that, I say, you might have missed something, because done right, this is the best step for you at this stage.
In my upcoming masterclass, I’ll show you step by step, how to add $500K to $1M to your income … …for just your high-end online training or group coaching program.
Link to join is in the comment >>>
3) The Thriving Coach
You’ve been working one-on-one with your clients for years. You have a wait-list of clients who want to work with you. You have a successful group coaching program (or two, or more YAY).
Your coaching business is thriving but you have this deep desire to help more people, make a bigger impact and grow your business even more.
Then create and launch online courses.
This is the perfect time to launch online courses, for a couple of reasons:
– You have a big list and a large following of people who really want to work with you but maybe can’t really afford your high-ticket programs.
– Its relatively easier to launch at this stage and easier to sell it to hundreds of people.
Which of these stages are you at? Do you feel these descriptions apply to you? Let me know in the comments