How big can your online coaching business get? <\/p>\n\n\n\n
Sometimes, we\u2019re so focused on simply creating the business and making it profitable, we don\u2019t ask that question. <\/p>\n\n\n\n
We\u2019re happy when our coaching becomes a good side hustle, or provides a decent living. And that is success! Undeniably. <\/p>\n\n\n\n
But if we\u2019re not careful, we can accidentally limit ourselves.<\/strong> <\/p>\n\n\n\n What\u2019s really possible for an online coach is\u2026huge. <\/p>\n\n\n\n By strategically growing your business, you can realistically go after that 7-figure annual revenue. <\/p>\n\n\n\n It\u2019s all a matter of scale.<\/p>\n\n\n\n Whether you offer fitness, business, a niche skill, or any other kind of coaching, you can scale up. Here, we offer a few strategies you can use to:<\/p>\n\n\n\n The first thing to do is actually something to stop<\/em> <\/em>doing: charging too little.<\/p>\n\n\n\n Entrepreneurs are notorious for underselling their products and services, and coaches are no exception. <\/p>\n\n\n\n We think \u2014 especially when we\u2019re new \u2014 that charging less = more clients. But there are serious flaws in that equation.<\/p>\n\n\n\n First, it means you\u2019re attracting less committed clients<\/strong>. The less people invest in their coaching, the less likely they are to actually stick with the program, follow instructions, and execute the tasks you give them. <\/p>\n\n\n\n \u2026which means it\u2019s less likely they\u2019ll achieve the desired results. <\/p>\n\n\n\n \u2026which means you\u2019ll have failed clients, not examples of people whose lives you\u2019ve transformed. <\/p>\n\n\n\n \u2026which means your reputation suffers. <\/p>\n\n\n\n \u2026which means\u2026well, you get it.<\/p>\n\n\n\n Second, you attract too many clients<\/strong>. That forces you to divide your time and attention more, again impacting results. <\/p>\n\n\n\n Third, it\u2019s not financially sustainable or scaleable<\/strong>. If your profit margins are thin, you can\u2019t afford to do much reinvesting, and therefore you can\u2019t scale. You\u2019ll just keep turning that hamster wheel \u2014 making money, but not growing.<\/p>\n\n\n\n Our rule of thumb for any kind of business is to maintain at least a 2:1 ratio \u2014 for every dollar you spend on your business, you should make two. Charge clients accordingly, and don\u2019t be afraid to charge what you\u2019re worth. <\/em><\/p>\n\n\n\n If you\u2019re worried that potential clients might balk at your price, use our simple sales formula:<\/p>\n\n\n\n Here, the value to price ratio is 10 to 1. It\u2019s a no-brainer! Any time you\u2019re worried about increasing prices, just increase value. <\/p>\n\n\n\n Just as importantly, convey <\/em>the value. I\u2019ve seen too many coaches discuss their pricing without putting numbers on the value. <\/p>\n\n\n\n The truth is, the kind of customers who worry most about the price <\/em>are not the kind who will help you scale. But the kind of customers whose main concern is the value <\/em>will unlock your earning potential.<\/p>\n\n\n\n One of the best ways to get more revenue from each coaching client and scale your business is to offer tiers. <\/p>\n\n\n\n Think bronze, silver, gold, and platinum plans. Or any scale that makes sense for you. <\/p>\n\n\n\n For example, your top tier can include high-ticket items like more personal one-on-one time with you. Your middle tier can include things like extra access to you via email or text. Basically, the more of your time and effort they get, the higher the tier.<\/p>\n\n\n\n This is helpful in a few ways. <\/p>\n\n\n\n First<\/strong>, it lets people test the waters a bit. <\/p>\n\n\n\n The lower-tier clients are still investing their money and likely to execute. In fact, those clients are more <\/em>likely to spring for a higher tier than a fresh lead off the street, once they get a taste of what you can do for them.<\/p>\n\n\n\n Second<\/strong>, it creates the \u201cprice anchor\u201d effect. <\/p>\n\n\n\n It\u2019s a bit of a trick of psychology, but when people have options, they\u2019re more likely to choose one than to walk away. You\u2019ll get lots of mid-tier clients, who in their minds are getting a high quality version of your coaching, but not a super-expensive one. <\/p>\n\n\n\n Best of all<\/strong>, your highest tier will scream quality and value \u2014 and attract the sort of client who\u2019s willing to part with bigger money to get the results they want. Obviousness alert: these are good clients to have. <\/p>\n\n\n\n One thing online coaches tend to forget: Not everything <\/em>has to be online.<\/p>\n\n\n\n Part of the value of joining any coaching program is the networking opportunities. So it\u2019s your job to intentionally create some.<\/p>\n\n\n\n Every so often, host an in-person event, such as:<\/p>\n\n\n\n Yes, this requires more time, effort, and money. But if you\u2019re charging enough, it\u2019s an excellent investment. <\/p>\n\n\n\n Just ask the Tony Robbins, Dale Beaumonts, and Taki Moores of the world, all of whom make massive revenue from live in-person events.<\/p>\n\n\n\n \u2026and no, you don\u2019t have to be one of those mega-stars to pull it off. We\u2019re a small-ish startup, and we\u2019ve hosted conferences and retreats! If you\u2019re not comfortable jumping right into big live events, consider starting with a virtual live event, and go from there.<\/p>\n\n\n\n When a coach offers more than just coaching, they stand out. <\/p>\n\n\n\n On an Internet full of online coaches, the standouts have the best chance of charging more, scaling faster, and reaching their biggest goals.<\/p>\n\n\n\n Plus, delivering value in varied ways lets you reach more people than sticking strictly to good ol\u2019 fashioned coaching sessions.<\/p>\n\n\n\n Offer some (or all) of the following as part of your coaching packages, or a la carte<\/em>:<\/p>\n\n\n\n A fantastic way to reduce churn, keep revenue steady, and position your coaching business to scale: re-sell to current clients more strategically.<\/p>\n\n\n\n The easiest way to do this? Don\u2019t wait until someone\u2019s time with you is almost up. If you sold someone a year of coaching, and it\u2019s going well, take advantage of the momentum. <\/p>\n\n\n\n Don\u2019t let the program \u201cwind down\u201d before asking them to sign up for more!<\/strong><\/p>\n\n\n\n I recommend presenting a re-up offer (perhaps even a special offer that\u2019s only available when clients re-up in advance) a good 3 months before the program ends.<\/p>\n\n\n\n This way, your existing clients will make the decision when they\u2019re at the height of their transformation. They\u2019ll have experienced proof of your effectiveness \u2014 but won\u2019t feel like they\u2019re done learning yet. <\/p>\n\n\n\n That\u2019s when the sales iron is hot!<\/p>\n\n\n\n Another way to make the early re-up a more tempting offer is to raise prices slightly each year \u2014 which you should do anyway, regardless \u2014 and grandfather the early re-uppers at the current rates. They get a deal, you keep a client without hurting the profit & loss sheet; everyone wins!<\/p>\n\n\n\n To make early re-ups even more attractive, don\u2019t feel like your coaching programs have to be exactly 12 months. It\u2019s arbitrary, and it subconsciously primes clients to think of the program as \u201cdone\u201d in a year. Instead, consider 15 or 20-month programs.<\/p>\n\n\n\n\n
<\/span>The Low-Ticket Trap<\/span><\/h3>\n\n\n\n
\n
Also Read: <\/strong>How to Get Online Coaching Clients [A Simple, 3-Step Funnel]<\/a><\/pre>\n\n\n\n
<\/span>Tier Up<\/span><\/h3>\n\n\n\n
<\/span>Get In Person<\/span><\/h3>\n\n\n\n
\n
<\/span>Diversify the Delivery<\/span><\/h3>\n\n\n\n
\n
<\/span>Pro Trick: The Early Re-up<\/span><\/h3>\n\n\n\n
Learn How to Propel Your Online Course Sales with Smart Insights<\/b><\/h4>\n