Coaching is a demanding profession and is limited to some degree by the number of hours in a day and the amount of time you can coach. I think it is important to add multiple streams of income and to mix up the activities in your business day because of the emotional toll from a long day of one on one coaching. You can add relief and variety to your work day and dramatically increase your earning power by creating coaching products.
Group coaching is one product that you can offer to increase your rate per hour. Group coaching has many advantages for you and for the clients. As a coach you are able to reach many more people when you add group coaching and you are able to earn more per hour of coaching.Coaching clients can pay a lower rate for group coaching and they also benefit from the input of the collective group. There is an electricity and a wonderful group dynamic that is created when people who are trying to deal with similar issues, challenges and goals come together to find solutions. I feel the benefit for everyone increases with well done group coaching.
You'll become less reliant on your time. As a coach, what is your commodity? When everything is distilled down, what are you selling? Coaching? No. Happiness? No. Success? No. Health? No. You are selling your time! Time is your commodity. And when time is your commodity and you are reliant on selling your time, you! r income potential is extremely limited. You can only realistically work 8-hours a day. So the only way to earn more money is to charge more. There is a limit to how much you can charge. And when you stop selling your time (go on holidays with your family; get sick), your income stops.
Get them to buy your low-end products. Even if you were able to convince your prospects that you're really good, it's still not easy to get them to spend $15,000 on their first purchase. This is the reason why I recommend that you sell them your low-end products first. Ensure that your low-end products (ebooks, audio products, newsletters, etc.) are very informative and useful. If these people are satisfied with their first purchase, you will find it much easier to move them further down to your funnel until such time that they'll consider buying your high end or most expensive products which could be your high ticket coaching programs.
When thinking about starting your coaching business, it's important that you do not offer coaching programs right away. You need to sell something that is cheap enough that people wouldn't mind trying out.
For example, if you're thinking about selling $1,500 phone coaching programs, you cannot really expect your prospects to shell that amount of money on their first transaction, right? Especially if you're a newbie. Naturally, they'll hesitate and they'll most unlikely to take the risk. What you can do is to teach them to trust you without asking them for too much money in the process. Sell them $15 newsletters or $30 ebooks first. If they're satisfied, they'll most likely to be more comfortable in buying your $100 CD series and later on, your $250 seminars. Do this until you can get them to buy your high-end products which is usually your coaching programs.
Quality over quantity. It's important for any businessman to ensure that his clients will do repeat business with him over and over again. This will only happen if your customers are extremely happy with their purchases. So, instead of coming up with hundreds of mediocre ebooks, come up with those that your buyers will really treasure. Pack them with amazing information that will really bring difference to the lives or careers of your clients. As you're starting out, I would suggest that you strive to give these people more than their money's worth. This will help in making them remember you for a very long time. Not only that, this will also help in getting these people to recommend your ebooks and coaching services to their friends and family members.
More Details About [Coaching Products]
Group coaching is one product that you can offer to increase your rate per hour. Group coaching has many advantages for you and for the clients. As a coach you are able to reach many more people when you add group coaching and you are able to earn more per hour of coaching.Coaching clients can pay a lower rate for group coaching and they also benefit from the input of the collective group. There is an electricity and a wonderful group dynamic that is created when people who are trying to deal with similar issues, challenges and goals come together to find solutions. I feel the benefit for everyone increases with well done group coaching.
You'll become less reliant on your time. As a coach, what is your commodity? When everything is distilled down, what are you selling? Coaching? No. Happiness? No. Success? No. Health? No. You are selling your time! Time is your commodity. And when time is your commodity and you are reliant on selling your time, you! r income potential is extremely limited. You can only realistically work 8-hours a day. So the only way to earn more money is to charge more. There is a limit to how much you can charge. And when you stop selling your time (go on holidays with your family; get sick), your income stops.
Get them to buy your low-end products. Even if you were able to convince your prospects that you're really good, it's still not easy to get them to spend $15,000 on their first purchase. This is the reason why I recommend that you sell them your low-end products first. Ensure that your low-end products (ebooks, audio products, newsletters, etc.) are very informative and useful. If these people are satisfied with their first purchase, you will find it much easier to move them further down to your funnel until such time that they'll consider buying your high end or most expensive products which could be your high ticket coaching programs.
When thinking about starting your coaching business, it's important that you do not offer coaching programs right away. You need to sell something that is cheap enough that people wouldn't mind trying out.
For example, if you're thinking about selling $1,500 phone coaching programs, you cannot really expect your prospects to shell that amount of money on their first transaction, right? Especially if you're a newbie. Naturally, they'll hesitate and they'll most unlikely to take the risk. What you can do is to teach them to trust you without asking them for too much money in the process. Sell them $15 newsletters or $30 ebooks first. If they're satisfied, they'll most likely to be more comfortable in buying your $100 CD series and later on, your $250 seminars. Do this until you can get them to buy your high-end products which is usually your coaching programs.
Quality over quantity. It's important for any businessman to ensure that his clients will do repeat business with him over and over again. This will only happen if your customers are extremely happy with their purchases. So, instead of coming up with hundreds of mediocre ebooks, come up with those that your buyers will really treasure. Pack them with amazing information that will really bring difference to the lives or careers of your clients. As you're starting out, I would suggest that you strive to give these people more than their money's worth. This will help in making them remember you for a very long time. Not only that, this will also help in getting these people to recommend your ebooks and coaching services to their friends and family members.
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