In the world of business coaching online, there are a few models to choose from and picking the right model is essential for your sanity, growth and profit, not to mention influencing the results of your clients.
I definitely have my preferred models to recommend, but it really comes down to individual choice as I have seen some great case studies across all four.
First, there’s the Guru Model
This is usually for more established marketers who have been steadily building their lists and have at least one signature product that they launch each year.
They may also have higher level coaching with big groups of members that they fill with live events.
Scale and leverage abounds with this model, but it’s not usually one you can pull off straight out of the gate. Success normally occurs once list growth reaches at least 10,000, preferably it is at 20,000 and multi seven-figure business models are usually created.
Think: Ali Brown, Brendon Burchard, Jeff Walker, Lisa Sasevich, Bill Baren & Callan Rush/Justin Livingston
This model is pretty capital intensive and you need to be prepared to invest much time an effort upfront before the big paydays come. This is a slower path to bigger growth, but will be helped by consistent and prolific content creation, paid traffic and joint venture partnerships.
Then, there’s the Small Group High Value Model
This model requires much less exposure and sales to work for you and is perfect as a fast-start way to make good revenue even if you don’t yet have a list.
It relies on a higher level of interaction and personalized transformation for your clients and is the model I choose to deliver as it suits my extroverted personality and desire for a more unstructured way of service delivery.
You can generally charge more per person than you can withe big group model and it will be worth it to them as they get more access to you and generally quicker and bigger transformations.
You don’t need a big list to get going with this solution and you can rapidly increase your revenue.
Think Kevin Nations (my mentor) and Gina De Vee’s High End Programs.
Scale is hard to get as the transformation is very reliant on the client’s interaction with you. There are ways to build in more scale and combat this, but it is difficult to get a “hands off” business as client’s are paying to get access to YOU.
This model is also harder if you hate dealing with people personally, you may find the energy required to give to your clients a bit of a drain.
There’s also the Product Model
This one is the one I find most coaches want to start with. The dream of passive income that comes from a purely digital offering is very tempting indeed. But beware, it is not always completely passive and it still needs to be fuelled by a solid and comprehensive content marketing and list-building strategy.
Yes, you can make a lot of money selling products. They are relatively easy to make. You can make them fast. With the right marketing, they can sell really well, and you can sell them again and again while you sleep.
Without a great message to market fit you invest a lot of time and energy into something that flops. This can also be the case if you don’t utilize paid traffic and your list is small.
If you are only use periodic launch marketing to sell your programs you may need another strategy for in-between times when cash flow isn’t coming in.
Also, if you go evergreen then you need a strong promo strategy to drive sales throughout the year, and neither of these are exactly passive.
Finally, there’s the One-On-One Model
There’s many voices in the online world that poo-poo one-on-one coaching, but it can be a great way to get client’s fast results and grow your business from scratch, as you discover the exact transformation you want to offer.
It gives you the ability to also make money on demand as selling to your next client can be easier and faster than getting 100 people into your program at once.
You can make a big impact on your clients and this can drive referrals (which basically means free marketing). You can customize your solutions to the individual client’s needs which generally gets great results.
Without a bigger community or container for one-on-one clients, these clients can lose accountability and inspiration as they only have you to answer to.
There is also only one of you, so once again scale and leverage becomes a big problem as your calendar gets more and more booked out – unless you are experienced enough to charge great rates.
So, which coaching model is best?
The answer is relative to your experience, your desires, your strengths and your vision for your business.
Over my years of coaching (using the Small Group High Value, One On One and Products Model) is that you can be guided by list size, your desire (or lack of) to work intimately with clients and how fast you want to make some money.
Have A Small List, Are Extroverted & Need Money Now?
I would recommend the High Value Small Group or One On One Model so that you can build your list, get the dollars rolling in, create and implement systems and uncover a process that works for you that you can leverage into an online program.
Have A Small List, Are Introverted & Need Money Now?
You can still choose High Value Small Group Program or go for the Products Model. Be aware that you will generally make more money quicker using the High Value Small Group Model, but it is possible to create an online program from scratch and launch with paid traffic and joint ventures, or even just a tiny list.
Have A List Of At Least 5000?
If you’re still not making what you want to get the freedom you crave, it’s likely that your message to market needs work or your model is wrong. You may have built your list through blogging, but not hit on the monetization yet, or maybe you are booked out with low-paying one-on-one clients… As far as models go, this will depend on what you are currently doing to generate your income and what needs to shift.
Can Wait For Your Pay Day?
I would probably choose the Product Model but layer it with High Value Small Group and move towards the Guru Model as you refine your offerings and create leveraged progression for clients through your programs.
But let’s face it, most of you will be wanting to grow your sales now, and if that’s you, I want to help. Just click here and apply for a free clarity session with me, where I will assess where you’re at and what you most want in your life and give you my recommendation for the coaching model that will work for you.