The Coaching Business Model Explained

The word “coach” is often thought of as the person who leads a sports team. However, there are so many different types of coaches, and if you’re an expert in a certain niche you can become a well-paid coach to others seeking success in your niche. From health to business coaches to life and marketing coaches and everything in between and beyond if you’d like to make money as a coach yourself then here’s the business model you need!

Your First Step

Now of course the first thing you need to decide is what kind of problems can you solve and for whom. Think about what you’re an expert in. What problems do people have surrounding that topic? How can you help them solve those problems?

Here are a few examples:

If you know a lot about retiring and life after retirement, then you could become a coach for people who are looking to retire. I would suggest finding a niche like people who want to retire to Mexico or people who want to retire and live an adventurous life.

**Let me help you find a niche that would work for you**

If you know a lot about finding your life’s purpose you could help people who are looking for their own life’s purpose. Again, I would target a certain niche of people. For example, women in their 30’s, or college students, etc.

If you know a lot about healthy eating, then you could become a healthy eating coach. Again, you would want to find your best niche to help. Like healthy eating to lose weight for men in their 40’s, or healthy eating for athletes, etc.

Once you’ve decided what kind of coach you’re going to be, what problems you can solve for people, and what people you’re going to help then you’re going to need to create your presence online.

Bust The Doors Open On Your Business

You’re going to need a few things to position yourself as an expert and offer your coaching services, and the first thing would be a website about you that introduces who you are, how you help people, and why people should pay attention to you. Include things like your bio, credentials, proof that you can help people, and links to your coaching services or products.

You also need to make sure that you have a few social media profiles created to. Depending on what kind of coach you are will depend on what social media platforms you use, but the big ones would be Facebook, Instagram, Twitter, Pinterest, YouTube, TikTok and LinkedIn. Set your social profiles up, fill them with content that engages people in your niche, educates them, and leads them to your website. This can take some time to get moving but studying social media marketing and developing a social media plan is where you need to start.

Once you have your website setup, your social profiles setup and you’ve started building a following on social media, then you need to start thinking about how you’ll make money as a coach in your niche.

Develop Your Money Strategy

As a coach in your niche there are a lot of ways for you to make money. Of course, you could do one-on-one coaching where people pay you a fee for your time, and you help them individually, but there are other options too like Group Coaching and your own courses.

Let’s look at these individually:

One on one coaching: There are a lot of options with doing one on one coaching. You could charge by the hour, a package of “sessions” with you, etc. I would setup a page on your website detailing what people get/accomplish by hiring you as a coach and then create an offer for them where they pay you.

Group coaching: Personally, this is my favorite option because I can help multiple people at one time. One way to do this is offer a “mastermind group” where you meet with your group once a week (or however often you choose) and help them accomplish whatever you’re helping them with. You could do a lesson that helps them and then do a questions and answers session after. That’s just one option. There are many ways to design a group coaching program.

Your own courses: This is a great semi-hands-off option where you could create a course that coach people through whatever they are wanting to accomplish, and then sell access to that course over and over again. You could have a course for each problem you solve within your niche and end up with multiple products to sell to your customers.

You could do one or all of these options, and of course there are other options too, but the important thing is to jump in right away and put together one offer to help people in your niche so you can start making money with it. I would recommend taking a look at your niche and see what other coaches are offering to get ideas on what you could offer for your first offer.

Now at this point you will have everything setup and working and have at least one thing to make money with so, let’s talk about what you’ll actually be doing day to day in your coaching business.

Running Your Coaching Business

Once you have everything setup and you have offers where people can pay for your coaching your focus will be on two things. Bringing in customers and creating more income streams.

Bringing in more customers will consist of your marketing. Social media marketing both free and paid are great options, but there are many other ways you can get new customers too. You could have an affiliate program, focus on SEO, or any of the other hundreds of marketing strategies out there. Each and every day though you need to be working on bringing new customers into your coaching business so that you can help more and more people and keep the money coming in.

Being a coach allows you to also make money from your niche in various ways. Above I listed three options for you to create your first coaching offer, but there are other income stream options too that you can present to your audience. You could incorporate affiliate marketing into your business, have your own merchandise, etc. Always be on the lookout for things you can create to help your audience and other ways you can make money with your efforts.

So, there you go. That’s the coaching business model in a nutshell. To learn more about this business model, you can visit my website. If you’re ready to step-up and help those with your own knowledge this can be a very profitable business model. Use what you’ve learned here to get started with your own coaching business.