Doubling your income, you say? Sounds great, until you think about all the time and energy it’ll take. Especially if you’re working as a coach, there’s only so much of you to go around.
And I say that as someone who loves coaching and believes it to be my literal purpose. But when your job is to give of yourself all day, it can take its toll. The amount of empathy, understanding, and guidance it takes to lead someone on a journey to wellness, be that physical or mental, is vast and also, finite. At some point, you only have so much energy to dedicate to your clients when you’re working with them in a one-on-one space.
This can make it difficult to see a way to increase your income, other than raising your rates. But again, there’s only so much room to maneuver before you price yourself out of accessibility for your ideal clients.
The price of the coaching can be intimidating for some but downright impossible for others, but if you still feel compelled to serve them while increasing your income there are ways around cost inhibitions. Looking for ways to expand outreach in different, creative ways is not you giving up it’s you fulfilling your purpose in different ways.
The question is how?
What’s a budding entrepreneur to do?
Think Outside of the One-on-One Box
So you want to increase your income and your impact, but not necessarily through taking on more clients or giving more of yourself than you have…sounds impossible right?
It is very much possible, and believe it or not it doesn’t entail re-inventing the wheel or completely building a new offer.
I think there’s a tendency to jump ship really quickly to put an offer out, and if in a few months it doesn’t sell out or sometimes even in a few weeks, people get impatient and discouraged. We move to the next thing and the next thing, and all of a sudden we have ten offers that we’re trying to sell all at once when we really haven’t gone all-in on one. When you can hyperfocus, when you can bring all your attention to one thing, that’s when it usually grows and magnifies.
If you nail down one quality signature offer and then figure out ways to use what you have differently for different clients, you’re able to have multiple income streams without having to go back to the drawing board and starting from scratch.
When I faced this quandary, I considered a few options that would allow me more growth in my business without the burnout taking on more people would bring. I realized that while the desire to work with me was out there, a few of my clients were struggling to afford the cost. Enter, group coaching. In this way, the price was within the means of those wanting to participate, and I was able to reach multiple clients at one time, as well as provide them additional support within the group.
I also began to explore different parts of my course to see what could stand alone as a self-led offer for clients to do themselves, on their own time at their own pace. This is a massive opportunity for any coach- it allows you to make a passive income available any time, not just during a program run. It also provides potential clients with a preview of what you can provide for them, but instead of a freebie, you’re still making extra income.
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Make Sure You’re Ready
Unless you really feel like you’ve done all you can do to offer quality and value to your current course, I don’t recommend branching out and crafting different offers from your initial.
I tend to see people try to add a bunch of offers before they’re ready, and then get overwhelmed. Are you moving on because you’re not signing clients and there seems to be a disconnect? Or is it a situation where you realized that there was a need for a lower ticket item and had all of these people ready and eager to join? Are you forming a group or selling aspects of your offer because it’s organically the right move revealing itself as the next step, or are you attempting to sell when you should be fixing bumps in the road of your services?
Rework What’s Working: The Bottomline
If I want to add more revenue and not more time you have to create something else from what you’re already offering.
For me personally, I decided to look at what I was already doing and what my clients really valued, and then decided on ways I could make that a different offer.
Again, I didn’t want to reinvent the wheel; this is supposed to save me time and energy not take more. But something I was doing was working- my clients were really getting great results and I was attracting new people to me consistently. So something was working with my clients as well as what I was doing marketing wise.
Figuring out ways you can lean into whatever is leading people to you and results is key in finding other things to offer. It’s figuring out what you’re already great at, throwing in a little snippet of your larger OG program, and adjusting the format to be for a group or self-led.
It’s taking the framework but changing the picture so that the results are the same, just with a different look.
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