EP 02: How to Make Money as an Online Coach
When you are first starting your online coaching business, articulating what it is you are selling is incredibly important. Narrowing down your offer should be one of the first things you do as you are getting set up, yet so many coaches fail to do so. That’s why Nicole is excited to explore this topic with you today and help you avoid some of the mistakes that she made when she was first starting out as a coach.
Listen in as she shares the importance of setting your initial offer price as high—or higher than—what you would offer for in-person sessions. You will learn why you do not want to run a volume-based model, the importance of having a niche market to stand out in, and how to create a high-value signature offer. If you are looking to build a lucrative, sustainable, growth-oriented business, this is the episode for you.
What You’ll Learn In Today’s Episode:
- Why your offer is so important. (1:45)
- What Nicole learned when she first started online. (3:39)
- Why it is important to set your offer price a little higher. (6:00)
- Why you should not run a volume-based model. (8:17)
- The negatives of creating a subscription-based model. (10:47)
- The importance of having a niche market. (12:56)
- How to find your soul mate client. (16:26)
- Why you should be thinking about the outcome first. (22:40)
Ideas Worth Sharing:
“When you’re not charging very much for your services, people are not super committed.” – Nicole Spencer
“When you have an online coaching business, what you do not want to do is take what you have done in person, try to duplicate that online, and then charge less for it.” – Nicole Spencer
“You cannot compete on volume if you do not have a very large following … or a very large marketing budget.” – Nicole Spencer
Resources In Today’s Episode:
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