Let me ask you a question…
Is 2021 the year you finally start your coaching side-hustle?
Is it the year you hand in your two-week notice at your soul-sucking 9-5 so you can focus on building your dream business?
Or is it the year you stop trading time for money and take your business to champagne-popping levels?
It’s no secret the coaching business is booming. In fact, it’s an estimated $11.6 billion industry, which is a 480% increase from 2017. *mind blown*
And let’s be honest: Those numbers are only going to increase because the demand for personal and professional development continues to skyrocket year after year.
As your biggest supporter, I want you to take a giant bite out of the industry and see the same six-figure success I have since launching my own coaching business.
But with so many different coaching offers available, I know it can be overwhelming to decide which type(s) you want to add to your services. And there are many different factors you need to consider before putting all your time and energy into building out a program (or two).
One of the biggest lessons I learned while coaching hundreds of students over the last few years is there’s a no one-size-fits-all approach for you or your clients. So in today’s lesson, I’m breaking down every type of offer you can create so you can easily choose the best one for your goals.
Ready to turn your passion into profits? Once we’re through, you’re going to walk away with more confidence and clarity than ever before!
Ah, 1:1 coaching. There’s so much magic working with clients individually and seeing their growth explode during each session. Unlike other types of coaching offers where you’re teaching a multitude of different people, 1:1 coaching is about completely immersing yourself in one person at a time. Every individual will have a different struggle and goal, so it’s up to you to tailor an individual program right for them.
You may have a client that only needs one session, and you may have another who wants twelve. The great thing about 1:1 coaching is you can adjust the program throughout the sessions because they don’t need to be as structured. But make sure you’re clear on what you’re 1:1 coaching entails, so you’re not getting Voxer messages at 1 AM with the expectation of you answering them.
Do you want to use your knowledge and expertise to impact more lives and generate more money—all at one time? If you’ve been offering 1:1 coaching and you’re ready to take your business up a notch, group coaching could be a perfect program to add to your list of services.
But if you imagine group coaching to be as simple as 1:1 coaching except with a few more people in a single session, then you’d be mistaken. When you’re coaching individuals, the topics can vary based on their particular needs—it’s easy to stay laser-focused on the result they’re looking for. When you offer group coaching, you need to have an overall theme or topic you’re teaching everyone, BUT you still need to focus on each individual’s goal. This is where I see many coaches falling short…
When it comes to group coaching, it’s just as crucial for each member to connect and communicate with each other as it is for you to interact with them. There’s a lot of fun (and money) in group coaching. It’s also gratifying to see a multitude of individuals coming together and lifting each other up.
If you’re interested in creating a group coaching program, here’s a few questions to ask yourself:
It doesn’t matter if you’re a business coach teaching AirBnB hosts how to maximize their profits, or you’re a health expert sharing how families can eat healthier on a budget—paid masterclasses are becoming more and more popular. And the best part is they can be highly profitable.
While there isn’t a single definition or model for hosting a masterclass—one day vs. one-week sessions, a series vs. a singular event, or a mini-course vs. a workshop—they all have a common thread. Masterclasses need to be taught by a subject matter expert (ahem, YOU), and they should have highly motivated, focused attendees. People who sign up for a masterclass want to go beyond the basics and dig deep into the specifics of a topic so they feel confident to take action.
Unlike an evergreen course, hosting a masterclass takes a highly hands-on approach. You need to keep the attendees engaged throughout the lesson(s) and answer any of their questions as they come up.
Are you passionate and knowledgeable about a particular subject? Are you comfortable speaking to a live audience (online or in-person)? If you answered yes to both of those questions, you might want to consider jumping on the masterclass bandwagon and add another stream of income to your business.
Whether it’s seven days on a secluded island or three days in the mountains, there’s nothing more alluring than pairing a badass mastermind session with a dream-worthy retreat, amiright? From personalized attention and powerful brainstorming sessions, mastermind retreats are more intimate than traditional business conferences.
Since the guest list is usually kept small, they allow your attendees to form deeper connections with you and others in a way they can’t experience with any other type of coaching offer. They typically focus on big-picture ideas and strategic thinking, so you want to be mindful about the kind of people you allow to attend so everyone can bring the same mind-blowing advice.
Here’s a few tips to help you create an unforgettable (and profitable) mastermind retreat:
Are you ready to reach goals you didn’t even know were possible in 2021? Now that you understand all of the possible offers you can create for your community, the next step is choosing which one is right for you. And even though there’s no one-size-fits-all approach, coaching is genuinely about providing value and making an impact in people’s lives.
It doesn’t matter what type of program you offer—if you’re passionate and knowledgeable, you WILL build a wildly profitable business you’re proud of. And I can’t wait to see everything you accomplish this year!
And if you want to take your business goals one-step further (because you’re a go-getter) and create a digital product you can sell on repeat, then download my FREE How To Create A Profitable Passive Product guide. I’ll give you the step-by-step process I use to turn all my knowledge bombs into a product people can purchase over and over again.