When I first started out coaching I was so old school.
My aim was to just get listed in a Life Coaching or coaching directory online, do face to face coaching and boom, that would be my business.
A few months down the line I came to see I could reach and help more people by being online if I just learnt the ropes of social media.
But I’m not going to lie, it freaked me out.
I didn’t want to do video and hated being on social media all the time and the introverted side of me thought I just couldn’t cut it.
Luckily I was wise enough to invest in coaching that showed me the way to not only build my coaching business online, but how to structure my business to sell premium packages and work with high end clients which meant, not only did I get to work with my clients in a deep transformational way, but I could work less hours for more money without the burnout.
If you’re a coach or consultant, pretty new to business, or thinking about setting up your business online here’s some steps to take if you want to actually create a structure to sell what you do and help more people – because that’s what you came here to do right?
5 KEY STEPS FOR A PROFITABLE COACHING BUSINESS
- Work on your your money mindset. Your money mindset (your wealth consciousness) is also going to need a serious upgrade whilst building your biz. I’m talking about the thoughts, feelings and beliefs you have about money that will either help you or hinder you as you go to work with clients. How you feel about money when you are responsible for selling your own services is going to be brought to the forefront, so write out a list of your beliefs today and start to explore where your feelings currently lie about money & success. Do you believe you can do what you love AND make lots of money too?
- Pick a niche and get clear on your ideal client- when you first get out there you may be eager to help anybody and everybody which of course is a noble thing. But as you start to market your business online where most people have short attention spans, you will get further faster if you can identify your ideal clients. These will be the people you are lit up to work with, and they are lit up to work with you. Write down the characteristics of someone who would be a perfect person to work with. Are they patient, do they pay on time, do they pay in full, are they coachable? Have a play.
- Create your signature premium programmes/package – so if you’re setting out planning to charge by the hour, please rethink this strategy. If you think about the amount of money you really want to attract every month, work out how many hours you’ll need to work to achieve that. A lot right? There is an easier way which is to package up your services so you can sell your transformation over a period of time. Your clients will get better results and be brought into a container that feels good to them – not dipping in and out with a session here or there. You get to hit them with your best work and have a simple payment upfront.
When I work with my clients, I start helping them create packages at £2K minimum and take things from there. We tap into their skills, expertise and zone of genius to create a key programme or 2 that feels in alignment with their processes and outcomes.If this feels like a huge uplevel for you and scary (but exciting) that’s why you need to do the money mindset work.. See I have a process for my own coaching programmes and its a structure that works. Get a pen start to write down what an ideal package would look like for your services.
- Pricing. I urge you to look at the value of what you are sharing, not the price. If you approach your business only from the position of how much you are charging and what you “think” clients will pay, you will get yourself caught in the loop of negotiating or undercharging or worse still – working for free. No! Reframe your perspective. Think of the lifetime VALUE you are providing to your clients and the residual benefit working with you will have on their life. In the end, a key lesson to learn is people pay for outcomes not the price. If someone can not meet your price, it doesnt mean you’re too high, it might just not be the right client for you or the right time for them.Set your prices in line with the value you deliver. What would feel good to charge? Write it down?
- Mastering Sales – Sales in business gets such a bad wrap and if you’re new or early stage in your business you probably have your own beliefs about it too. Think it’s sleazy? Think it’s about trying to convince or persuade? Well I invite you to reframe your thoughts. There is a way to sell with soul and move potential clients into an actual client without the hard sell or fear you might think. Here’s a tip: start to think of your conversation with potential clients as a conversation to see if you’re a fit to work together, if you can actually help and support them make a decision to say yes or no
So there you go, 5 key ways to start structuring your business if you want to be in business for the long game.
Has any of the above come up for you? I’d love to hear your thoughts, feel free to leave a comment!
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Bio
Jo is a Business & Mindset coach that resigned from her unfulfilling corporate job approaching 40 to start her own soulpurposed biz. After making the leap and overcoming her fear of failure, Jo transformed into a writer, trainer and speaker working with Google, Redbull Music, The WoW Foundation and now empowers other female coaches and consultants to package up their brilliance so they can create a freedom based business they love using their expertise – with confidence..
Her zone of genius is helping women bust through the mindset blocks holding them back so they can do what they love AND make money with flow and ease.
