How many times have you said you’re going to start that dream coaching business you’ve had on your vision board for the last three years straight?
Five times? Ten times? Twenty times?
Yeah…I see you, and I’m calling you out because someone needs to.
I know you want to build an empire you can call your own, instead of spending 40+ hours a week slaving away to achieve someone else’s goals. I know you have the passion and expertise to make a difference in hundreds of people’s lives, if not more. And I know you have a fire deep inside you, longing for more freedom, flexibility, impact, and money.
The problem is you’re so overwhelmed by everything you need to do to get your business off the ground that you don’t start at all. And the longer you hold off, the more you question if you should even launch an online coaching business at all. Sound familiar?
Well, here’s your chance to put all your fears and excuses to the side and *finally* pursue your dreams.
After building a six-figure coaching brand within the last three years, I’ve learned what steps you need to take to set yourself up for success, and I’m diving deep into each one.
I promise as soon as we’re through with today’s lesson, you’ll feel inspired to take action and change your LinkedIn bio to CEO.
To build a successful coaching business filled with high-ticket clients booked on repeat, you need to pick a niche. And not just any niche, one that’s wildly in-demand and highly profitable. The more specific you are, the easier it’ll be to determine who your ideal clients are and what your marketing message should be.
To pick a niche, ask yourself these questions:
To give you an example, I’m a marketing coach focused on helping my ideal clients build high-converting, evergreen sales funnels so they can make money on autopilot. Pretty specific, right? Once you’ve picked a niche, you’ll have an easier time attracting the type of people you want to serve and who needs your genius.
Whether you plan to do business under your legal name or a more creative one, you need to register it with the appropriate government authorities, which can vary from state to state. When registering your business, you’ll have to decide what type of structure you want it to fall under: sole proprietorship, partnership, limited liability company, or a corporation. Each one has different legal and tax implications, so it’s a good idea to consult with an attorney if you’re unsure which type best suits your business plans.
Bonus tip: Before registering your business, make sure the domain name and social media handles are available. Nothing worse than checking off all those boxes and realizing you can’t even use the name you just paid big bucks for. *ouch*
I’ve said this before, and I’ll say it again: Everyone is not a target audience description. One of the biggest mistakes I see new entrepreneurs making—and even ones with years of experience—is they think their products and services can serve everyone and their mother. While this may or may not be true, it’s near impossible to have a successful and thriving business if your marketing message isn’t focused on who can benefit the most from your offers.
For example, let’s say you want to be a health coach. I mean, who couldn’t use someone in their corner teaching them how to live a healthier life? But, who do you think will make a bigger impact and generate more income: the health coach that helps anyone who walks through their virtual doors or the one that positions themselves as the expert in serving one (or few) types of people? If I were looking for a health coach, I’d rather spend my money on someone who truly understands MY pain points and struggles.
Want to know one of the secrets that separate the coaches with consistent clients versus those always hustling for their next paycheck? It’s allll about staying ahead of your competition. Researching who your competition is and what they’re doing is an often overlooked step when starting a business. But it’s a critical component to creating your first offer and developing a marketing strategy.
Ask yourself: Who’s my biggest competition? What type of coaching do they offer? What kind of content are they producing? How does my brand differ? What can I do better?
Once you have a feel for who you’re competing with, you’ll be equipped with the information you need to create a sell-out-worthy offer that stands out from the crowd.
Now that you’re crystal clear on your niche and who you want to serve, it’s time to create your first offer! And between you and I, this is the fun part. There are many different options to choose from, so you can put your creative spin on whatever you pick. And the best part is if you’re not happy with the results from your first program or you realize it’s not something you want to offer again, then you can change it. Simple as that.
Here are the four most common types of coaching offers you can create:
Keep in mind; 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.
P.S. If you want to dive deeper into these four options, check out this blog.
Let’s rewind—you’ve picked a profitable coaching niche, legally established your business, figured out who your ideal clients are, researched the competition, and created your first offer. Whew, you are *almost* ready to launch your coaching business and call yourself a true entrepreneur. The last step on your list of must-dos is to develop your marketing strategy.
Based on your target market and competitor research, determine what platforms you should focus on the most. While we all want to work on the channels we’re most comfortable with, like Facebook or Instagram, it’s not about you—it’s about where you can effectively reach your ideal clients.
If you’re not sure where to begin, I’ve got you covered. Read this blog to learn what components you should include in a 360-degree marketing plan so you can sell out your offer with ease.
Grab the champagne and pour yourself a glass of bubbly—you’re officially ready to launch your business, or at least you will be once you implement these six steps! Getting an online business off the ground is hard work, but there’s nothing more gratifying than working for yourself and getting paid to make a positive impact in people’s lives.
And if you’re ready to hit the ground running (I know you have lofty goals!), then download my FREE guide: The Ultimate Sales Secrets to Scaling Your Online Coaching Business. I’ll show you how to scale your coaching business to consistent five-figure sales months by avoiding the five common mistakes most new coaches make.