3 Components of an Outstanding Coaching Business
The coaching business is becoming highly competitive. I’m sure you don’t need a statistician to throw numbers in your face in order to come to terms with the market reality. Coaches are springing up on a daily basis that one wonders if the coaching industry will be able to handle the surge.
However, in the midst of the competition, it is possible to have a thriving coaching business, where you get amazing results for your clients.
To stay on top of the competition, you need to make your coaching business very outstanding. And to do this, there are three components you need to pay critical attention to.
The way you work around these components determines how outstanding your coaching business will be. If you get it right with these components, then you are well on your way to getting amazing results for your clients.
Let’s look at them one after the other…
1. The Client
If you’ve followed some of the things I have shared before now, you will notice that every time I talk about a great coaching program that gets results, my primary focus is always on the client. This is very important because without the client, the program is as good as non-existing.
In talking about the client, it is important you define who your ideal client is. If you don’t know who your program helps…then, I wonder why you created a coaching program in the first place.
No prejudice, if you’ve been in the coaching business for a while, you would argue that you already know who your ideal client is. I get it. However, the process of developing a complete client avatar is long…and can be boring. Regardless, it is a very essential part of an outstanding coaching business.
Being able to define your ideal client has two major advantages:
- It makes it a lot easier for you to find your ideal client.
- Secondly, it makes connection to them easier.
You see these two things I mentioned above, they give so many coaches headache. Your inability to define who your ideal client is makes it impossible to attract them to your program. Also, if you are unable to connect with your ideal client, then you can’t do business with them
Let’s go back a little to your client avatar.
I want to quickly run down 5 ways you can define the ideal client that fits your coaching program.
- Give them a name: That sounds funny, right? It’s nothing too serious, but I use this strategy as my first point of call in defining who my ideal client is. Probably because I read a lot of fiction (give me a wink if you’re like me). If I’m looking for a name for a client, I use Joe (for a male), and Amy (for a female). Like I said, it’s nothing serious, just a way for me to virtually develop a personal connection to my ideal client.
- Know where to find them: It is important to figure out how you can get in front of your ideal client. If you do your research well, you will be able to know where your ideal client hangs out. If you are looking for them online (which is where the average American spends 24 hours a week according to Technology Review), you would likely find them on social media (Facebook, LinkedIn, Twitter, etc.) and online groups.
- Define where they are in life: This is where you come up with some baseline demographics of your ideal client. Define the age range and status in life; young, starting a small business and trying to get a hold on life, OR advanced, and well established in life and business, OR nearing retirement, ready to stop working and desires to spend more time with family and friends.
- Define their approach to life: You need to be sure that your ideal client is more than just an average Joe – except that is the kind of client you want. Are they hardworking and smart? Do they have the drive to take required action? These are a few questions you need to answer when creating your client avatar.
- What is their experience level?: This is very important. Are you looking for a client who is a total novice or has had some level of experience in the area your program covers? Let’s say you have a program as a fitness coach. What level of knowledge should your client have as regards getting in shape? Or, you are a business coach. What level of income should your ideal client earn in their business?
This is as simple as it can be and you can develop a client avatar for your program. However, creating the perfect client avatar requires you to take your time and do proper research, using the points I shared above.
2. The Program
This is the bone of your service. This is the solution you bring for people. I also like to add that it is the value you deliver. If you give out value or help someone find solution to a pressing need, and you get paid for it, then you can say you are in business.
However, there is more to the coaching business than that. There are about three questions you need to ask yourself – and answer. They help in giving proper definition to your coaching program.
- Why do you do what you do?
You don’t start a coaching business by accident or happenstance. There is something that made you get on the ship. There is something that motivates you and makes you do the things you do as a coach. Why do you jump out of your bed every other morning or even stay awake most nights? Is it the glee in talking to clients or the joy of helping people or the desire to make money? You need to be sure your motives are well defined. It doesn’t have to be a big vision statement that you put up for all your clients to see (that’s fine by the way). It’s just something that helps to guide your decisions in the business, especially in difficult times.
- Who are you in relation to your program?
In my experience, I have come to know that most coaches are solopreneurs. This has made it difficult to disconnect a coaching program from the coach.
Your personality is directly reflected in your program. If you are unique, that same uniqueness will show in your business. If you are the type that likes to be generic, doing what every other person is doing, you will also have a generic program.
If you are going to have a coaching business that will stand out, you have to be unique. It’s good to be better at what everyone else is doing. But, it’s best to be different (you need to read that again).
Having a unique personality means that you will attract your perfect premium client to your business.
- How does your program help people?
You have to define a specific problem your program solves. I have seen a lot of coaches offer a wide range of services because they want to give themselves options in the highly competitive market. Well if that is your play, good luck with that.
For me, I believe the specialist earns more than the generalist. I will prefer to have a specific problem solved by someone who specializes on that. It might be expensive, but I am more confident, getting a solution than I am with a generalist.
You need to define the particular outcome you deliver. That is what will attract the right kind of client to your program. If you are very good in solving a particular problem, clients would not mind shelling out thousands of dollars for that service. You might not be serving so many clients, but you have high paying clients that will help you achieve your income goals.
Take for instance you want to earn $50K a month as a dating coach. If you really know how to get people to find the perfect partner, you could charge $5,000 to $15,000 for this. Heck! I’ve even seen a coach who charges $100K to hook up wealthy entrepreneurs and celebrities to the love of their lives. But let’s assume you are charging $5,000, you need just 10 clients per month to get to your income goals. So if you really help people create fantastic outcomes, you just need a few clients to hit your goals.
3. Mode of Delivery
This is another factor that, if properly taken care of, stands your coaching business out. This looks at both how and where your clients access your service.
Well, for practicality sake, it depends on the service you are offering. A dentist will need a physical location for their clients to access their service because their kind of service demands that.
However, in the time and age we live in, most coaching services are accessible online. The platform you choose is also a function of the nature of your service.
A lot of coaches offer their services on Facebook, using Facebook groups. It is fine, especially with the way Facebook is making the world a global village. There is also another great platform that most coaches use, Udemy. It is quite a convenient platform with an added advantage of helping you get new clients.
As much as I have no qualms with these online platforms, having a platform you can control will do you a world of good. You need to own the mode of delivery.
What if Facebook decides to shut you out on suspicions that you broke some TOS? I don’t even want to imagine the impact that will have on clients’ appointments. Even with Udemy, you have no control over how much a client pays or the engagement pattern. Your correspondences are at the mercy of Udemy! I don’t know about you, I just can’t deal!
If you are like me, you will own your delivery platform – your own website, email list and all. You can use these other platforms to build yours.
At Clients Oasis, we have realized that coaching is more effective when done in groups. So we have a group portal on our platform that gives our clients the “Facebook” feel. You can incorporate that to yours.
Bottom Line: Whatever mode of delivery that suits your client best, please use it. Client is king!
Now that you made it to this point …
It is important to know that uniqueness is what stands you out from the competition. You can’t be doing what everyone else is doing and expect to be outstanding.
Your unique program should give you an idea of what your ideal client looks like. I have given you a detailed guide you can follow to create a perfect client avatar, use them. Don’t forget to do prosper research while creating your client avatar.
Remember, the right motive will help you, even when the skies go grey. Don’t just be about the money; be about helping people solve their problems because this is what will keep you in business while everyone fades into oblivion.
Finally, get a delivery mode that will make it easy for your clients to access your program or service.
We believe this post has been both educative and informative. However, we want to lend you a hand as you make your coaching business outstanding. Call us today and we would be glad to help you.
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