Individual Coaching Versus Group Coaching Profits
Coaching is one business branch that many online entrepreneurs eventually weave into their business model. They start with info products, adding coaching once they find their footing and have proven success.
There are two types of coaching you can offer ñ individual and group coaching. Individual coaching can secure higher prices because the focus isnít shared with anyone else ñ itís more exclusive.
Many coaches hand out their personal cell phone numbers to their clients, allowing them to call at specific times or even anytime they have a question or concern. You can also set up one on one meetings via Skype, which is always a popular coaching tool.
When you pursue individual coaching, itís important that you not have a strict, cookie cutter coaching style. Each individual is unique with different obstacles, so your coaching should be flexible to help them reach their goals.
With group coaching, the initial price tag of the coaching session is less, but it makes up for that in volume. You can either leave the coaching open-ended where anyone can sign up ñ or set limits to the class size to a certain number, such as twelve.
Some marketers call these mastermind sessions ñ where lots of brainstorming occurs. Others call them coaching sessions with a slant towards teaching and implementing predetermined lessons.
You can create private groups on Facebook or your blog or inside a membership site and conduct group coaching sessions there. Some might be live, such as in a webinar type setting. Others might be pre-recorded.
You might want to offer both types of coaching ñ group for those on a stricter budget ñ and individual ñ for those who can afford the leeway and want the privacy that individual coaching provides for them.
If youíre unsure of how well youíll enjoy being a coach (because itís certainly not for everyone), then give it a test run before you begin offering monthly coaching sessions for a yearly sign up fee.
You donít want to get roped into something youíll regret later. If youíre unsure what to charge, or if youíll be good at it ñ have a raffle type offering where you award 2-3 coaching sessions to individuals on your list.
See how the process goes and then youíll know if you enjoyed it, if your customers were pleased, and youíll have a better understanding of what you should charge based on the time it took to conduct the training.