Which Online Coaching Business Model Should You Choose

Summary

In this insightful video, Lucas Rubix discusses the importance of strategically planning an online coaching business. He outlines four primary business models: 1-on-1 coaching, group coaching, hybrid models, and courses. Rubix emphasizes the need to systematize solutions and offers insights on scaling and diversifying services to meet different client needs and preferences. His advice encourages coaches to engineer their business for long-term success and inspire their clients effectively.

Takeaways

• 😀 Building a coaching business requires thoughtful planning to avoid a stressful and inefficient operation.
• 🏢 Many coaches fail to engineer their business model, leading to a chaotic and unsustainable business structure.
• 🕒 Coaches often work long hours without achieving the desired income, due to poor pricing and program structure.
• 💼 The lack of a clear client journey and structured business plan can hinder the growth and success of a coaching business.
• 🔢 There are four fundamental business models for online coaching: 1-on-1, group, hybrid, and course-based.
• 🤝 Starting with 1-on-1 coaching is common but can become unsustainable due to the high time commitment and low scalability.
• 👥 Group coaching can be more scalable and efficient, allowing coaches to reach more clients with less time per client.
• 🔄 The hybrid model combines the benefits of 1-on-1 and group coaching, providing a more personalized experience with the support of a community.
• 📚 Packaging coaching solutions into a course allows for a self-paced learning experience with the potential for group support.
• 💳 Membership sites can be a way to offer ongoing support and content for a recurring monthly fee, increasing lifetime value for clients.
• 🛠️ Systematizing your coaching process and solution is crucial for creating a scalable business model that can be delivered in various formats.

Q & A

What is the main topic of the video?

The main topic of the video is different online coaching business models and how to effectively build and manage an online coaching business.

Why do many coaches struggle with their business?

Many coaches struggle with their business because they do not spend enough time thinking about and planning the structure of their business, leading to a stressful and inefficient operation.

What are the four online coaching business models mentioned in the video?

The four online coaching business models mentioned are: 1-on-1 coaching, group coaching, hybrid coaching, and courses.

What is the primary challenge with the 1-on-1 coaching model?

The primary challenge with the 1-on-1 coaching model is that it is very time-consuming and can become exhausting, making it difficult to scale and maintain high energy levels for all clients.

How can a coach transition from 1-on-1 coaching to a more scalable model?

A coach can transition from 1-on-1 coaching to a more scalable model by increasing prices to attract fewer, higher-paying clients, or by moving to group coaching or a hybrid model that combines elements of both.

What is the hybrid coaching model?

The hybrid coaching model combines elements of 1-on-1 coaching and group coaching, providing clients with individual attention and support within a small group setting.

How can systematizing a coaching process benefit a business?

Systematizing a coaching process allows a coach to create a structured solution that can be delivered in various formats (1-on-1, group, course), enabling tiered pricing and catering to different client needs.

What are the benefits of offering a course as part of a coaching business?

Offering a course as part of a coaching business provides a lower-cost entry point for clients, allows the coach to reach more people simultaneously, and can generate additional revenue with less time investment.

What is the potential advantage of a membership site for a coaching business?

A membership site can provide recurring revenue by offering ongoing access to resources and support for a monthly fee, increasing the lifetime value of clients and creating a more stable income stream.

Why is it important for a coach to plan their business model two to three years out?

Planning a business model two to three years out helps a coach stay motivated and inspired, provides a clear direction for growth, and allows for strategic development of services and infrastructure.