The Coaching Industry is Dying.

Summary

In this video, Brian Elwood argues that the coaching industry is declining, and coaches need to pivot towards a more effective way of monetizing their skills. He explains that most coaches struggle to make substantial income, while a small percentage thrive due to their credibility from building successful businesses. Elwood advocates shifting away from traditional coaching and towards 'done-for-you' services that guarantee client outcomes. He believes this approach is easier to sell and more profitable. The video also provides insights on how to create such offers and stand out in a competitive market.

Takeaways

• 🔮 The coaching industry is struggling, with many coaches making low wages while a small percentage earn most of the revenue.
• 💼 Coaches need to pivot away from traditional coaching models to more effective ways of monetizing, such as offering done-for-you services.
• 📊 Big-name coaches succeed due to their prior business success and credibility, making it harder for new or smaller coaches to compete.
• 🎯 Coaching is just one method of delivering value, but it's often difficult to sell because it puts most of the work on the client.
• 🛠️ Shifting to a done-for-you service model, where the provider takes on more of the work, can lead to better results and is easier to sell.
• 🏗️ Alex Hormozi's 'Sales to Fulfillment Continuum' shows that while coaching is easy to fulfill, it's hard to sell. In contrast, more complex services are harder to fulfill but easier to sell.
• 📚 Coaches should stop solely identifying as coaches and start thinking of themselves as business owners focused on solving problems for their clients.
• 🚀 Building credibility through delivering measurable outcomes or done-for-you solutions can make it easier to attract and retain clients.
• 🎨 A done-for-you service, such as writing a book for a client or building a funnel, allows clients to see faster, tangible results compared to coaching alone.
• 🔄 Coaches can still use coaching as part of their offer but should focus on incorporating services that guarantee a solution to the client's problem.

Q & A

Why does the speaker believe the coaching industry is dying?

The speaker believes the coaching industry is dying because most coaches struggle to make a sustainable income, with the majority earning $19 an hour or around $60,000 annually. Meanwhile, only 10% of coaches make 90% of the revenue. This imbalance, coupled with market saturation and difficulty in selling traditional coaching services, has led to this conclusion.

What is the key difference between successful coaches like William Brown and other struggling coaches?

Successful coaches like William Brown have a track record of building and selling successful companies, which gives them credibility. This credibility allows them to charge premium rates for coaching. Struggling coaches, on the other hand, often lack this kind of proven success and struggle to compete for clients.

What is the major shift the speaker recommends for coaches to survive in the evolving market?

The speaker recommends shifting away from pure coaching and towards offering 'done-for-you' services, which are easier to sell. By focusing on providing tangible deliverables and solving specific problems for clients, rather than just guiding them through coaching, coaches can make their services more appealing and marketable.

Why is coaching often hard to sell, according to the speaker?

Coaching is hard to sell because it puts most of the responsibility for results on the client. Clients often prefer services that provide tangible outcomes with less effort on their part. Additionally, coaching requires the client to stay motivated and take action, which can be a barrier for many potential buyers.

How do high-credibility coaches like Alex Hormozi manage to sell their coaching services easily?

Coaches like Alex Hormozi have built and sold successful businesses, which gives them immense credibility. This track record allows them to easily sell coaching for high prices because potential clients trust their expertise and are willing to pay a premium for their advice.

What alternative to traditional coaching does the speaker suggest, and why?

The speaker suggests offering 'done-for-you' services instead of traditional coaching. This approach is more appealing to clients because it guarantees outcomes with less effort from them. By taking on more of the work for clients, coaches can create a more valuable and easier-to-sell offer.

Why does the speaker believe defining the problem you solve is crucial for success as a coach or service provider?

The speaker believes that clearly defining the problem you solve is crucial because it gives your business a clear focus and makes it easier to market your services. Vague or poorly defined offerings, such as being a 'life coach,' are harder to sell because potential clients don’t see a specific outcome.

What are the 'big three' markets the speaker refers to, and why are they important?

The 'big three' markets are health, wealth, and relationships. These are important because they are universal needs that people are willing to pay for. Successful businesses typically focus on solving problems within one of these categories to create a clear value proposition.

How does the speaker suggest incorporating coaching into a 'done-for-you' offer?

The speaker suggests using coaching as a supplemental tool within a 'done-for-you' offer. For example, coaching can be used to guide clients through personal or strategic decisions, while the bulk of the work is handled by the service provider. This hybrid approach provides both guidance and tangible results.

What impact does market credibility have on a coach’s ability to attract clients, according to the speaker?

Market credibility has a significant impact on a coach's ability to attract clients. Coaches with proven success and credibility can command higher prices and have an easier time attracting clients. In contrast, coaches without established credibility struggle to compete and often have to fight for the 'leftovers' in the market.

Outlines

00:00

📉 The Coaching Industry is Dying – Here's Why

In this introduction, the speaker, Brian Elwood, claims that the coaching industry is in decline, with most coaches earning low wages. He highlights that only 10% of coaches generate the majority of the revenue and argues that many are using a failing business model. He reveals his pivot away from traditional coaching and hints at a new approach that will be discussed in detail throughout the video.

05:00

💡 Credibility is Key in the Coaching Business

Brian discusses the importance of credibility, using successful coaches like William Brown and Alex Hormozi as examples. These individuals are successful because they built companies, gained expertise, and then transitioned into coaching. The speaker argues that most coaches struggle because they lack the same level of credibility, and as a result, they get fewer clients. He emphasizes the need to build expertise before transitioning into coaching.

10:02

🛠️ Done-For-You Services vs. Coaching

Brian explains his shift from offering traditional coaching services to providing 'done-for-you' services. He used to coach clients on writing books but realized it was more effective to write the book for them. This model allowed him to deliver faster results and solve his clients' problems more effectively. He stresses that clients often prefer tangible results over coaching sessions, and this shift in business model has made it easier to attract and retain clients.

15:03

📚 How Done-For-You Services Solve Real Problems

In this section, Brian outlines how 'done-for-you' services are superior to coaching in delivering results. He gives examples from various industries, explaining that providing assets like YouTube thumbnails or scripts for video creators is more appealing than merely coaching them. The key point is that offering tangible deliverables helps clients achieve their goals faster and more efficiently.

🔄 Coaching as a Tool, Not a Business Model

Brian reframes coaching as a tool within a larger business strategy rather than the core offering. He suggests combining coaching with other services to offer more value to clients. This approach allows for deeper problem-solving while still incorporating one-on-one coaching when necessary, making the overall offer more compelling and easier to sell.

📈 Surviving the Coaching Industry Shift

In the conclusion, Brian summarizes the shift needed to survive in the changing coaching industry. He encourages coaches to move beyond traditional coaching by creating offers that include done-for-you services. He also teases a master class on offer creation, referencing Alex Hormozi’s strategies from his book '$100M Offers,' and promises that applying these strategies will lead to greater business success.

Keywords

💡Coaching Industry

The coaching industry refers to a broad sector where individuals offer personal or professional guidance to clients, often through one-on-one sessions. In the video, the speaker claims that the coaching industry is 'dying' because most coaches are struggling to make a sustainable income, with only a small percentage of high-profile coaches dominating the market. The focus is on how many coaches are finding it difficult to survive in a competitive space.

💡Pivot

Pivoting in this context means shifting or changing one's business strategy to adapt to a more successful model. The speaker suggests that coaches need to pivot away from traditional coaching methods, which involve one-on-one sessions, and instead adopt a 'done-for-you' service model to remain competitive and profitable. This shift is presented as a way to survive in the evolving market.

💡Done-for-you Service

A 'done-for-you' service refers to a model where the service provider takes full responsibility for delivering a product or outcome, rather than guiding the client through the process. The video highlights how this approach is easier to sell than traditional coaching, as clients prefer to receive a complete solution with minimal effort on their part. The speaker himself transitioned to offering this kind of service, such as writing and publishing books for clients instead of coaching them through the process.

💡Sales-to-Fulfillment Continuum

The Sales-to-Fulfillment Continuum is a concept introduced by Alex Hormozi, describing how some services are easy to deliver but hard to sell, while others are hard to deliver but easier to sell. Coaching, which is relatively easy to fulfill (e.g., having Zoom calls), is often hard to sell because clients bear most of the work. In contrast, done-for-you services are harder to fulfill but much easier to sell because they offer clear, immediate results.

💡Credibility

Credibility refers to the trust and authority that a coach or service provider has in the eyes of potential clients. In the video, the speaker emphasizes how credibility plays a major role in the success of top-earning coaches like William Brown and Alex Hormozi. These individuals have built successful businesses outside of coaching, which gave them the credibility to attract high-paying clients. The lack of this credibility is cited as a major challenge for newer or less-established coaches.

💡Problem Solving

Problem solving is central to the speaker’s message about what businesses, including coaching services, should focus on. Instead of merely offering advice or guidance, successful businesses solve specific problems for their clients. The video advocates for shifting away from vague offerings like life coaching to more targeted services that address clear issues, such as helping clients grow their YouTube channels or write books.

💡Outcome

An outcome refers to the specific result or benefit that a client seeks from hiring a coach or service provider. The speaker argues that coaches should focus on delivering tangible outcomes, such as helping someone publish a book or increase their revenue. Done-for-you services are seen as more effective at guaranteeing these outcomes than traditional coaching, which often requires the client to do much of the work themselves.

💡Client Accountability

Client accountability in coaching refers to how much responsibility the client has for implementing the guidance they receive. Traditional coaching places a large burden on the client to take action and achieve results. The video suggests that this is a problem because it reduces the likelihood of success, making it harder to sell coaching services. Shifting to a done-for-you model reduces client accountability, making it easier for them to achieve their desired outcomes.

💡Service Provider

A service provider delivers a product or solution to a client, often taking full responsibility for the result. The speaker encourages coaches to move away from identifying as coaches and instead think of themselves as service providers who offer concrete solutions, such as creating marketing funnels or writing books for clients. This shift is seen as crucial for staying relevant in the changing coaching and online education landscape.

💡Business Owner Mindset

The business owner mindset involves thinking about one’s work as running a business that solves problems for customers, rather than just offering advice as a coach. The speaker encourages this mindset shift to help coaches see themselves as entrepreneurs who offer services that deliver real value. This approach contrasts with the traditional view of coaching as a profession focused solely on personal guidance, which can limit revenue potential.

Highlights

The coaching industry is facing significant challenges, with most coaches earning an average of $19 per hour and only 10% making 90% of the revenue.

Coaching is typically a harder sell because it puts most of the work on the client's plate, which can make it less appealing to potential customers.

A more effective approach is to offer a 'done-for-you' service, where the coach or business owner provides tangible deliverables rather than relying solely on coaching.

High-earning coaches like William Brown and Alex Hormozi succeeded by building credibility through previous business successes, making it easier for them to sell coaching services.

Most new or struggling coaches can't compete with established coaches who have built a strong personal brand, making it critical to pivot away from pure coaching.

A 'done-for-you' service is easier to sell because it guarantees the client a specific outcome, unlike coaching which relies on the client's effort.

Shifting from being a 'coach' to a 'service provider' allows for easier sales and higher client satisfaction by focusing on delivering results directly.

The idea is not to abandon coaching completely, but to integrate it with other service offerings to create a more comprehensive solution for clients.

Coaching should be viewed as a tool within a larger offer, not the core of the business, especially for those without an established personal brand.

Successful business figures like Alex Hormozi and William Brown did not start as coaches but instead built companies that delivered clear outcomes for their clients.

Establishing credibility is key for coaches who want to thrive, as credibility leads to higher demand and easier sales.

Coaches who focus on defining the specific problem they solve will have a better chance of creating a successful offer.

For example, helping someone write a book by doing the writing and publishing for them is more valuable than just coaching them through the process.

The shift to a service-based model involves creating assets and solutions that clients can immediately use to achieve their goals, like done-for-you templates, scripts, or funnels.

Integrating 'done-for-you' services with some coaching helps clients get both hands-on help and guidance, maximizing the value of the offer.

Transcripts

in this video we're going to talk about

why the coaching industry is dying and

what you can do so that you don't die

with it and yes you heard me right my

bold prediction is that the coaching

industry is dying and in order to

survive coaches are going to have to

Pivot to a more effective way to

monetize in this video we're going to

cover what that is in great detail so

the way this came about is coaches are

having a harder time surviving than ever

before coaches on average are making $19

an hour and around $60,000 per year on

the other hand there's 10% or less of

the coaches who are making up 90% of the

revenue they're basically getting

everything and I have discovered why so

in this deep dive video I'm going to

talk about what is actually going on and

plus how you can avoid the failing model

that a lot of people are using and pivot

to a strategy that will work much better

for you in the long run my name is Brian

Elwood I've been a coach for eight years

I've grossed close to 2 million in

Revenue I've always branded myself as a

coach for a while coaches were who I

helped actually today I'm pivoting away

from coaching and towards something that

works much better I'm going to go into

detail on what that is and for the

record I'm not referring to the overall

Creator economy or the e-learning

industry those are absolutely booming

but specifically talking about people

who brand themselves as a coach and why

they struggle this struggle is

unnecessary and it can be fixed so let's

unpack this it starts with understanding

what coaching is coaching is one way the

value can be delivered and coaching

typically means you get on call with

clients you listen to their challenges

you ask questions and then you empower

the client to arrive at Solutions

sometimes you offer your own advice but

coaching is just one way that you can

solve a problem and it's also an

approach that will put most of the work

on the client's plate and this makes it

hard to sell that's one thing that a lot

of coaches do not realize they are doing

to themselves if you look at Alex horos

uh sales to fulfillment Continuum you

can see that something that is like easy

to fulfill like hey I'll sit on a zoom

call and Coach you that's pretty easy to

do but it's hard to sell and then

there's other types of deliverables

which we're going to talk about in

detail today that are hard to fulfill

but much much easier easier to sell and

if you're a struggling coach it's

important that you know what those are

and that you start with those or pivot

to those right now and there's going to

be coaches or those who train coaches

who will disagree with me on this some

coaches still make ridiculous amounts of

money everyone is clawing to get their

time perfect example is this guy right

here William Brown he's someone that I

follow I've even considered working with

him I may actually join his coaching

program next month

this guy makes3 or $400,000 a month just

selling coaching it's like how in the

hell is he doing this well what a lot of

people don't know is that William

already built and sold a company for

millions of dollars in fact there was a

video on it right here I just sold my

company to a private Equity Firm for

Millions obviously what's the big

difference between William and other

people William has insane credibility

William built a different business that

helped people to invest in stocks and he

got it to seven figures in revenue and

then he sold it and rode off into the

sunset and now he can sit back in his

cozy chair with his latte talking to the

mic get 271,000 views on a YouTube video

and sell Consulting and make hundreds of

thousand dollar per month so William has

a track record that far surpasses

everyone else who helps coach and guys

like William are going to get most of

the clients who are looking for help

growing their coaching business everyone

else is fighting for the leftovers for

the scraps and the same thing's true for

someone who helps people lose weight

there's a big Guru with millions of

followers then they're going to get most

of the clients simply because they went

on Oprah or they have a best-selling

book or they have a million followers or

whatever they have that instant

credibility nine out of 10 people would

work with that person versus the

upcoming coach who has yet to have that

credibility Alex Orosi he could sell

coaching for six or seven figures for a

single day and it's simply because of

the Brand Power that he has it's he

actually knows his but how do we

know that he knows well he built and

sold gym launch for 49 million then he

went on to build a few other successful

companies as well and he had you know

those big moments that defined his track

record and now he can sail off into the

sunset but Alex and William did not

start out trying to coach people on

business instead they built companies

that delivered a service Alex's service

was hey we're going to going to grow

your Gym's revenue and wills was hey I

will help you learn how to trade stocks

they didn't just sit around coaching

people they got their hands dirty and

did the work for their clients they did

whatever it took to get the outcome Alex

even flew on planes to go and overhaul

the gyms at his own expense he would run

their ad take their sales appointments

and sign them new clients obviously that

worked because it's a sick offer and he

grew a company that he could one day

sell for $49 million then he started his

personal brand and it blew up and that's

when most of us found out about him I

vaguely knew about Alex prior to all

this because of the Russell Brunson

world but most people didn't find out

about him until he started posting

content you know about all of this the

interesting thing is he said that I was

posting content for years before I sold

my company but no one cared no one cared

until I had that Big Shiny success

moment and the quality of my content

back then was just as good as it is now

so in an Ideal World you and I would

already have had that one major career

defining moment and then we'd have

insane credibility and our time would

become scarce everybody calling to get

at us we could sit back and just coach

or consult people but most people

watching this are not at the stage of

William or Alex neither am I they're not

going to be able to get coaching clients

on easy mode they won't be paid

handsomely to sit back and give advice

they actually have to do the same thing

that William and Alex did first and I've

always thought of myself as a coach and

I thought that I sold coaching packages

but as the market has shifted and it's

gotten harder to sell coaching here is

the shift that I made to continue to get

new clients every single month without

it being super difficult first it

started with me shifting my perspective

I stopped saying I'm a coach and instead

I said I'm a business owner and if you

think about like why businesses exist

they exist to solve a problem and I had

always said well I'm a book coach you

I'll coach you through the process of

writing your book and I would get

clients and they'd make progress on

their books and then they'd say ah you

know I don't have time to write or we

need to postpone things and I thought

man like there's got to be a better way

to deliver this out come to people so I

stopped telling people I would coach

them instead I told people I would do

the work for them I write the book I

publish it on Amazon I build the funnel

write the emails everything I literally

just need like a couple hours of their

time and I can hand over all of these

assets to them and you might be thinking

but I don't want to just do everything

for my clients Brian you know I don't

want to make them weak I want to empower

them to do the work and and I believed

that too for a long time but here's how

I see it now let's say someone has any

of the following problems they have low

credibility no way to grow their email

list no way to warm prospects up to

their offer they don't have a clear

funnel or enough clients now I know from

experience that having a book can help

with all of those things and the sooner

the book is done the sooner they will

increase their credibility get more

opt-ins on their list start building

more trust with their audience have a

streamlined process that actually takes

someone from a prospect to a client in

an automated way that is the funnel and

ultimately get more clients or customers

so what's best for them to insist that

the only way that they can get that

outcome is through coaching with me or

to create a solution that guarantees

they get the outcome so that they can

receive the benefits that I promised

it's important to point out that most of

my clients they don't want to become

prolif ific writers they just want to

add a book to their brand and business

to get the benefits that we discussed

and I used to try and motivate them to

become the next Stephen King Protegé and

that simply just didn't work for some of

them they didn't have the time or desire

to spend 200 hours writing a book they

just wanted the outcome the book would

provide coaching is indeed a powerful

way to help someone solve a problem but

it's not the only way if if coaching is

the only deliverable the likelihood of

the client getting the outcome will drop

however when you shift towards a more

done for you offer you move away from

being a coach and more towards being a

service provider this might not be a

label that you like for what you do it

may not have been what you planned but

the question is is this the right move

the safest move to help you thrive in

the changing economy that is the

coaching space right now I believe the

answer is yes I believe it is wise to

shift your offer to more of a done for

you service instead of offering coaching

and having coach be like the core way

that defines you everything you offer

and everything you do I think it's much

safer to sell something that people have

a higher desire for you'll be able to

provide for your family and reinvest

that money into your company to help

more people because you will make more

money because what you sell will be

easier to sell if you hate this idea

this might be a good time to sign off

but if you're with let's pivot to

talking about how to actually do this

it's not as much of a huge change as you

might think and you will have the option

of retaining coaching as a part of what

you offer and I'll show you what I mean

so first this starts with a fundamental

understanding is that you are here to

solve a problem for someone if you're

not clear on what the problem is that's

where we would start many coaches cannot

for the life of them State the problem

that they solve in fact I actually

wonder if this is why people fall back

to the label of life coach because that

avoids the accountability of having to

solve a specific problem it avoids

having to create a measurable outcome

for customers since I know you don't

want to be that way start by defining

the problem you are here to solve the

best way to state that problem is to

look at first one of the big three

markets they are health wealth and

relationships these are the three main

things people want and will pay for and

then Whittle down and get more specific

what outcome do you create within the

big three Market that you chose examples

like if you were in health you could

help someone lose 10bs clear your skin

of eema or gain 10 pounds of muscle for

wealth you could create 2,000 a month in

passive income buy your first small

business or grow to 10,000 YouTube

subscribers for relationships find a

partner after divorce marry your

soulmate or make three lifelong friends

let's say yours was helping YouTubers

grow to 10,000 subscribers The Next Step

would be to list out every problem that

somebody would have doing that and I've

got a massive list here you can pause

and take a look at this 34 potential

problems that someone's going to have

growing from 0 to 10,000 YouTube

subscribers for example if the YouTuber

writes poor video descriptions right now

you could study what makes a great

YouTube description and then provide an

AI prompt that the YouTuber can use to

write YouTube descriptions easily and

professionally let's say that they suck

at thumbnails you could go into canva

and create 20 awesome thumbnails or have

a professional designer create them for

you and then make them editable and give

the YouTuber the links to your exact

canva templates and give them

instructions on how to switch out like

their face for yours or change the text

or whatever make it as easy as possible

for them you could even design a set of

thumbnails for them as part of your

package let's say the YouTuber creates

videos that are not engaging you could

give them the exact script writing

process to create engaging videos even

script a few videos for them to help

them see what a script looks like give

them AI prompts to do this as well and

we've only tackled three items on a list

of 34 problems a YouTuber has can you

see just how much more powerful a done

for you offer is versus coaching we're

talking about giving the real

deliverables real assets real services

that are going to help them achieve that

goal of growing their Channel instead of

just being like I will Coach you on how

to grow your channel now let's say that

the YouTuber also struggled to choose

their Niche this is common what you

could do is jump on a call with them and

Coach them through that process and

notice I said coach that's because

coaching is still very powerful for some

things you may not be able to help

someone choose the best niche

without talking to them oneon-one

because that's one of those deeper

decisions where you have to ask

questions and it's also a critical

decision for them this is a perfect spot

where a coaching call or two could be

part of your overall offer and that's

how I want you to think about coaching

moving forward coaching is not what you

do or who you are it is a tool you can

use to deliver certain aspects of your

overall badass offer you know the one

that solves the entire problem for the

customer in an elegant way and this is

very different from defining your entire

business around coaching which as we

stated is not easy to sell unless you

already are in that top 10% and you've

got the huge established brand which

always starts with huge

credibility this is the pivot that I

believe will be required to survive and

thrive as the online education Market of

evolves so in this video we covered that

pivot and then I gave you a primer on

how to make your offer much better to

add a lot more done for you elements to

what you do so that you can make more

money and survive in this market if you

want a full master class on offer

creation I read Alex horos book $100

million offers three times I've also

been through this process with myself

and many of my clients I have dumbed it

down to the exact list of action steps

you need to do to follow everything that

Alex says to do in his book it's all in

this video that you'll see popping up

right now click that grab a notepad and

overhaul your offer and it is almost

impossible that it will not help you

make more money thank you guys for being

here and I'll see you in the next one