People often ask me about my coaching experience, and how they can improve their own coaching, or get started coaching others.
Since 2005 I’ve coached over 700 entrepreneurs, marketers, and business owners. There are a few simple lessons I’ve learned over the past eight years and I thought I’d share them today.
Can I Coach?
That’s a simple answer. If you have value to give and can help others generate results and massive improvements, then you can (and should) coach. A recent coaching client told me he made an additional $10,000 in four days based on a single conversation we had. That’s the type of value and results that I’m talking about.
People are willing to pay almost anything for results.
People need coaching for everything and anything. Some examples include: exercise, weight loss, business growth, relationships, men’s style, etiquette, dancing, sports, etc.
Why Do People Need Coaching?
Why do great athletes have coaches? They’ve got coaches to help them get better, and hold them accountable. People want coaching for the same reasons. They want to create change or produce some sort of desired result. They’re unhappy with how things are now, or they’ve tried to do it themselves and have realized they could use the outside help.
You can be that person.
What Kind of Coaching Should You Offer?
I’ve been coaching people online since 2005. I’ve done various forms of coaching such as:
- 1:1 Coaching (most effective in my opinion)
- Group Coaching (smaller groups of people. I’ve found between 4-10 to work well)
- Membership/Community-Based Coaching (You can coach a large number of people at the same time, but it’s not as effective as 1:1 Coaching)
How Do I Coach People Effectively?
Everyone will develop their own process of coaching and there are hundreds of books on the topic. Here’s the common sense approach I’ve used when coaching people online.
- Help them with goal setting.
- Help them develop an action plan.
- Set deadlines and hold them accountable.
- Help them with self-esteem. The biggest roadblock is almost always in the client’s own head. Remember the film Tin Cup? The Golfer’s swing had nothing to do with the swing on the course, it had everything to do with what was happening off the course. If you can help them overcome their insecurities, the fear of failure, and limit their negative self-talk, then you’re well on your way to earning your fee as a coach.
What Should I Charge?
Everyone is different. I believe fees are dependant not on hours or time units, but on the value delivered. I have a coaching program where clients can spend three intensive days with me personally for $17,500, or a remote coaching option where we do everything over Skype or phone which is $3500 for three months or $5500 for six months.
I think $3500 for three months is a great starting point and here’s why. A fee like $3500 distinguishes those who are serious about their business and growth, and those who are not. It’s also a fee that’s easily recouped through results. When my client earned an additional $10,000 based on a single phone call, he earned his fee back and more. And more importantly, the results are cumulative for him.
The majority of my coaching is done remotely via Skype.
You might try something similar.
How Do I Get Clients?
- Tell everyone you know what you’re doing, and the type of coaching you’re offering.
- Create a website and build marketing collateral.
- Offer free introductory sessions
- Get your own marketing coach 🙂
To learn more of my thoughts on coaching, check out my own coaching page HERE
