In general it's hard to scale an hourly business. However, here are a few suggestions:
1. Offer a lower rate tier where you can capture a lot of people such as group coaching. You'll need address topics that are general to the group, and make sure that the people within the group are similar enough, but don't feel like they're competing with each other.
2. From the group coaching you can suggest people upgrade to a higher price such as the $4K for 6 1-hour sessions to address specific needs and provide the high touch individualized attention they're looking for. However, I'd still be cautious about letting people know how much they're paying for an hourly rate.
3. Can you productize this service in any way? Most businesses scale by productizing their information. If you can create learning modules for people to go through, then you can have the complete work on their own, then use 1-1 time more effectively.
Answered 10 years ago
Not clear on what you are asking when you say scale it. But, what type of marketing do you have in place? Who is your target? Where are you finding them? Are you using Facebook ads? Are you participating in LinkedIn groups?
IF you have relationships formed, then the $4000 program is more easily "scaled". But, it's difficult to get that investment going if you are just beginning without any social proof. You may want to consider smaller introductory programs as well to give people a sense of you and your team.
Answered 10 years ago
I run a Skype coaching program for communications, speech, and debate. A few keys we have found:
1) Effective Tracking – Basically CRM, though we use a Google spreadsheet.
2) Quality Control – Internal and external monitors
3) Centralized Billing – Let the coaches coach
4) Common Feedback Repository – Scale by writing down regular comments and exercises in a way that all coaches can see
Our model works more like music lessons (e.g. $65/hr, $100/hr, etc), but we have both long- and short-term participants.
Happy to share our lessons learned.
Answered 10 years ago
Look there is never one best way to do anything, there are many ways, to do same thing. So, I will give you different ways scale up your phone coaching business:
1. Who do you want to serve?
The first thing to consider is if you want to be a generalist or specialist. Using medicine as an example, consider the difference between a family physician and a cardiologist. Cardiologists make at least twice the annual income of family physicians. Why is this? The answer is that by specializing, cardiologists are solving a specific problem that provides life-changing results. Compare life-saving cardiac bypass surgery to visiting your family doctor for a cold…or haemorrhoids… or take your pick of mild health nuisances. I urge you to consider specializing in your own coaching business. For example, one of my primary target markets as a health coach is busy moms between 29 and 55 years of age who want to lose weight. It is much easier to convey my expertise and provide transformational results by focusing on this smaller segment of the weight loss market. Next, you need to answer the following two questions to determine who you want to serve as your audience:
1. What is the No. 1 problem you can solve for others? Think about your skills, knowledge, and experience. How are you uniquely positioned to solve this problem in a powerful way?
2. Who do you want to be a hero to? When you provide life-changing results in an authentic way, you create loyal followers who will hang on your every word and sing your praises to anyone who will listen.
2. How to easily attract your ideal clients.
These are the three primary ways that I market my coaching business and you can do the same.
1. Pay per click advertising. This includes Facebook ads, Google AdWords, and LinkedIn ads. Pay per click (PPC) is the fastest way to start sending people to your funnel and content. Platforms like Facebook make it simple to target members of your audience with laser precision. With Facebook in particular, it’s easy to connect with your ideal clients through demographic, interest, and behaviour-based advertising. You will need to allocate a budget dedicated to PPC costs. Keep in mind, testing different ad variations and campaigns is the key to turning your advertising into a profitable venture.
2. Strategic partnerships. The secret to developing a profitable partnership is finding someone who provides a service or product that complements what you offer. They are not your competition, but you have the same target audience. Let me give you an example. I partnered with a popular mommy blogger for my health coaching business targeting busy moms. She promotes my coaching business to her blog readers, and I promote her blog to my clients and audience.
3. Expert positioning. The best way to position yourself as an expert in your space is by creating insanely valuable content for your audience. This could be almost anything, including a blog post, video, or social media post. If your content is good enough, people will start sharing it on social media, helping your content to go viral. Place yourself in the mind of your audience. Determine their most pressing problems and fears. This will allow you to create quality content that your prospects will happily devour, leaving them hungry for more.
3. Creating an automated sales system.
The first part of our funnel is the landing page or lead capture page. You will want to create a valuable incentive to entice people to sign up to your email list. Here are three of my favourite ways to do this:
a. Email autoresponder series
b. Four-part video series
Email autoresponders and four-part video series are great, because they allow you to deliver value quickly through multiple points of contact. These multiple “touches” are essential to converting someone from an “interested” lead to a salivating buyer. It is all about building a relationship and trust with your audience. Webinars are my personal favourite because this can shorten the trust building window to as little as one hour. Once again, all of these are completely automated. At this point, you just need to do some simple math to reach your income goals. Let us say your goal is $1,000,000 per year. This translates into $83,000 per month. One of the best ways to achieve this level of income is by creating a 90-day transformation package. If you price this package at $5,000, you will only need to sell 16 packages each month to reach your income goal.
4. Automating delivery of your package.
Forget any misconceptions you have about one on one coaching being better than group coaching Every week for 12 weeks, a new piece of content is delivered through automated systems. This can easily be accomplished through email and membership sites. You will need to decide which type of content will best serve your customers (videos, webinars, podcasts, etc.) and what information they will need to guide them through their transformation journey to the desired end result. Organizing your content in a way that progressively builds on each other is important too. You will work your butt off in the beginning to get all of this set up. But once these pieces are in place, it truly becomes an automated, hands off income stream. You will have so much more free time and energy to focus on other profitable activities in your business and more free time for leisure and family.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
Answered 3 years ago