The 3 Business Models For A Coaching Business: Which One Are You Right Now?
One of the challenges of start-up coaches is when they live in the Land of Overwhelm!
Overwhelm exists when you attempt to get too far ahead of where you are right now in your business. As a coach you naturally have the ability to vision and create goals and big desires. Overwhelm creeps in when we start living in the future and we don’t yet have the infrastructure and systems in place for your current reality.
Let’s take a look at the 3 Business Models for a coaching business to determine (a) where you want to be VS. (b) where you are right now!
Business Model #1: $0 – $50k in consistent annual revenue
This model offers:
- A free gift on a website for opt-ins and growing a mailing list
- Sample sessions to convert prospects to paying clients
- Private, 1-1 Signature coaching programs (a.k.a. your 1-1 coaching)
Business Model #2: $50 – $150k in consistent annual revenue
This model offers:
- A free gift on a website for opt-ins and growing a mailing list
- Sample sessions to convert prospects to paying clients
- A group or a teleclass program
- Private, 1-1 Signature coaching programs (a.k.a. your 1-1 coaching)
Business Model #3: $150 – $300k in consistent annual revenue
This model offers:
- A free gift on a website for opt-ins and growing a mailing list
- Sample sessions to convert prospects to paying clients
- Your private coaching has been converted to DIY or Home-Study Programs
- Multiple groups and/or multiple teleclass programs
- Private, 1-1 Signature coaching programs (a.k.a. your 1-1 coaching)
So which business model is your coaching business in RIGHT NOW? Not where do you want it to be? Of course we all naturally want to be farther along than our current reality; that’s the nature of goals and visions, right? But where are you right now? To determine that, you don’t base it on what you are offering. Instead you base it on your consistent annual revenue.
The critical key about those business models is the word “consistent.” To know which business model you are in right now and then focus your time, energy and creativity on implementing systems and automation that accomplishes consistent results within that business model is how you can quickly grow and evolve your business to the vision within you.
If you are not getting consistent results in the products and services you are offering that is a good indication that something is wrong, broken or missing from your systems, integration and infrastructure of your business. Focus on organizing, integrating and automating the systems for the business model you are in right now. That will keep you out of overwhelm and will create a confident, solid business upon which growth can occur!