The one universal reality for entrepreneurs is that your time is valuable, and you probably don’t have as much of it as you’d like. Hardly enough time to take on being a coach and/or a client.
This is especially true when you’re working in a service based industry and working directly with clients. No matter how much of a people person you are or how much working directly with customers delights you, the unfortunate reality is that you’re bound by time.
As your business grows and your popularity skyrockets, your flow of client requests will increase and eventually you’ll find that you have more potential clients than you do hours in a day. You will want to diversify your business before that happens so you don’t have to turn anyone away.
In short, it’s great to have multiple tiers to your business so you can serve customers at all levels. This can include the relationship between coach and client.
For example, if you’re an online coach and your primary service is helping people transform their six-figure businesses into seven-figure businesses, you’ll likely catch the eye of many people who only have four or five-figure businesses.
While they aren’t ready for your 1:1 coaching quite yet, they could benefit from other products or services to help them reach that level.
For example, you could create a free mini-course walking people through tracking their income in their business. This is your “foot in the door” product that can appeal to a range of audiences.
This type of products for coach and client can catch a variety of people’s attention. From people who haven’t started their businesses yet to entrepreneurs a few years in looking to brush up their bookkeeping skills.
Through your mini-course, you’ve now grown your email list and you can market a mid-level product.
Your 1:1 training is intended to bring people to a seven-figure business. In the meantime, countless people are scratching their heads wondering how to scale their 10k a year side hustle to a six-figure business.
Creating a full online course for those people will do a few things:
Intimidated about creating an online course? Download our free course creation bundle to make the process easier:
Another option is creating an online course for the exact people who doqualify for your coaching program.
The idea is that you probably have more demand for your coaching than you have time to coach people, and if you don’t already, you’ll get to that point as your business grows.
With that in mind, you could create an online course mapping out the same ideas that you walk through in your coaching business.
This would help you:
Before we get started, let me tell you this: Most online course creators don’t charge enough for their online product. $100 is the minimum you should charge for your most basic online course, and even then sometimes $100 isn’t enough.
As a quick guide for how much you should be charging:
You can also set a goal and use this formula to help set your price:
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Using premium pricing can be intimidating, I get it. However, it’s so important. It’ll help you maintain your sanity and meet your revenue goals with greater ease. Let’s discuss why that is:
You’ll charge less for your online course than you will your 1:1 coaching packages, but this course will still be a premium product and should be priced accordingly.
If your online coaching packages start at $2,500, I might consider pricing your online course at $1,250.
We’ve seen so many online coaches shift their focus to online courses because they love the freedom and the ability to work with more students at a time.
If you find that you want to shift from coaching to courses, consider slowly raising the price of your coaching packages until you’re only working with a few high paying clients a month, or discontinue coaching entirely if that’s your preference.
And if you’re a coach and a course creator, let us know in the comments what you think the pros and cons of each are! You’ll know best all the details between coach and client.
Also, don’t forget to download our free course creator bundle!
As always, if you have any questions please let me know and I’ll answer them in the comments!
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