How To Start A Coaching Business in 2024

Summary

This video script outlines a step-by-step guide for launching an online coaching business, emphasizing the importance of credibility, a replicable process, and genuine desire to help clients. It discusses the necessity of a strong offer and messaging, leveraging paid ads for consistent audience growth, and the three phases of scaling a coaching business from zero to $10K, then to $30K, and finally aiming for $100K per month in profit. The speaker shares personal insights from pivoting a marketing agency to a successful coaching business, highlighting the power of a social funnel system for lead generation and client nurturing.

Takeaways

• 🚀 Starting an online coaching business requires a step-by-step approach, from defining the business model to acquiring and serving clients.
• 🏢 The speaker transitioned from a marketing agency to a successful online coaching business, emphasizing the scalability and leverage coaching offers.
• 🤔 Three critical self-assessment questions are posed to determine readiness for launching a coaching business: credibility, replicable processes, and personal experience.
• 💡 The importance of having a strong desire to help the ideal client and being passionate about their transformation is highlighted.
• 📈 The script discourages the idea of a 'million-dollar offer' and instead focuses on effective messaging that resonates with the target audience's needs.
• 🛑 The need to pivot from service-based to knowledge-based selling is emphasized to achieve scalability in a coaching business.
• 🔑 Building a personal brand and audience is crucial for a sustainable coaching business, as it provides a foundation for consistent client acquisition.
• 💰 Paid ads are presented as the most reliable method for consistently growing an audience and acquiring clients for a coaching business.
• 📊 The 'social funnel system' is introduced as an effective strategy for nurturing leads and converting them into clients through a combination of top, middle, and bottom funnel activities.
• 📈 The script outlines three phases of coaching business growth: the initial grind (0-10K), community building (10-30K), and refining the client experience (30-100K).
• 📝 The importance of delivering high-quality coaching services and continuously refining the client experience to achieve long-term success is underscored.

Q & A

What is the primary focus of the video script?

The primary focus of the video script is to guide individuals on how to start and scale an online coaching business, covering aspects from creating an offer to delivering services to clients.

What was the speaker's previous business before pivoting to online coaching?

The speaker previously had a marketing agency that helped online coaches, which generated 60,000 a month before pivoting to an online coaching business.

What significant change did the speaker make nine weeks ago regarding their business?

Nine weeks ago, the speaker pivoted their business completely from a marketing agency to an online coaching business, which now generates over 50,000 a month in recurring revenue.

What are the three key questions the speaker suggests one should ask themselves before starting a coaching business?

The three key questions are: 1) Do you have a replicable process that guarantees results? 2) Do you believe coaching is a better option than your current business and are you passionate about it? 3) Do you have the desire to help your ideal clients and feel called to do so?

Why did the speaker initially want to have a coaching program?

The speaker initially wanted to have a coaching program to teach others how they achieved their success, but they recognized the need to first have something substantial to coach on and to prove their methods through their own agency.

What is the speaker's view on the importance of having a 'perfect' offer for a coaching business?

The speaker believes that having a 'perfect' offer is not as crucial as having good messaging that effectively communicates the problem being solved and the proven framework to address it.

What type of clients does the speaker dislike working with, according to the script?

The speaker dislikes working with clients who expect a coaching program but are actually looking for a course or a glorified group call without personalized coaching.

What is the speaker's approach to building a coaching business?

The speaker's approach involves building a close relationship with clients, charging a premium price, and focusing on delivering intense, high-quality coaching rather than scaling to massive numbers.

What is the 'social funnel system' mentioned by the speaker?

The 'social funnel system' is a method that uses paid ads to grow an audience and followers on platforms like Instagram, retargeting content to nurture leads, and direct messaging to book qualified sales calls.

What are the three phases the speaker outlines for growing a coaching business?

The three phases are: 1) Zero to 10K a month - Building the audience and brand. 2) 10K to 30K a month - Introducing community aspects and refining client success. 3) 30K to 100K a month - Consistently booking calls with the ideal clients, hiring a small team, and focusing on high profit margins.

How does the speaker suggest using paid ads for a coaching business?

The speaker suggests using paid ads for consistent and predictable audience growth, as well as for retargeting and nurturing leads into buyers, rather than relying on organic content or outreach.