Developing products should be at the forefront of every coach's mind. Coaches that develop products are significantly more successful than coaches that don't. A product is a packaged and branded educational resource. Your product should be targeted to a niche group, and be focussed on solving their specific problems. Your product can be packaged and delivered in a variety of ways.Popular coaching-related products include: eBooks, eCourses, Mini-Courses, Podcasts, Workshops, Seminars, Tele-Clinics, Audio Programs, Webinars, etc.
Group coaching is one product that you can offer to increase your rate per hour. Group coaching has many advantages for you and for the clients. As a coach you are able to reach many more people when you add group coaching and you are able to earn more per hour of coaching.Coaching clients can pay a lower rate for group coaching and they also benefit from the input of the collective group. There is an electricity and a wonderful group dynamic that is created when people who are trying to deal with similar issues, challenges and goals come together to find solutions. I feel the benefit for everyone increases with well done group coaching.
Home study programs are another way to generate additional coaching income. You can create a product that coaches around a common issue for your target coaching niche. There are many people who need coaching but cannot afford one on one coaching or do not have the ability or time to dedicate to one on one coaching.You can help people at their own pace with products that you create around challenges commonly faced by your target coaching niche. The added value to home study products is that the client can return to the product many times to reinforce the learning.
Products are your escape from being time reliant.By commercialising products you rely less on time as your commodity.Move from one-to-one to one-to-many. Most coaches sell one-to-one coaching as their core service. This restricts your time, and also limits your commercial reach. Commercialising products allows you to leverage your intellectual property by 10, 100, 1000 times. You can be selling hundreds of eBooks; eCourse; tele-clinic seats; pe! r week. Now that's how to leverage your knowledge and time!
o, you've decided to sink your teeth into the field of coaching. After identifying what to coach about and after researching your target market, the next step that you need to take is to decide on what type of information product you're going to sell. In this article, I wish to share some tips on how to create your product line to ensure your success in this type of business.
For example, if you're thinking about selling $1,500 phone coaching programs, you cannot really expect your prospects to shell that amount of money on their first transaction, right? Especially if you're a newbie. Naturally, they'll hesitate and they'll most unlikely to take the risk. What you can do is to teach them to trust you without asking them for too much money in the process. Sell them $15 newsletters or $30 ebooks first. If they're satisfied, they'll most likely to be more comfortable in buying your $100 CD series and later on, your $250 seminars. Do this until you can get them to buy your high-end products which is usually your coaching programs.
Value-add. Products are an excellent way to value-add your services. For instance, you may use a 6-week ticket to your specialist tele-clinic as an incentive to upsell prospects from a 3-month contract to a 6-month contract.Referral, Your products can be an excellent tool to incentivise referrals. You may go to the prospects in your funnel and say to them "We know you enjoy the information we provide you, and we're sure you know other that would benefit from it. If you put us in touch with these people, as a thank-you we'll give you this! XYZ product." JV Incentives. Products are an excellent way to provide incentives for joint ventures. For instance, just say you approach a gym or a health spa, and undertake some cooperative marketing. They write to their members and inform them that for a limited time they can go to your website and download a free special report ! "How To Overcome The 7 Biggest Barriers To You Achieving Your Fitness Goals, by specialist life coach ABC." To download the report they have to give you their name and email address.
Group coaching is one product that you can offer to increase your rate per hour. Group coaching has many advantages for you and for the clients. As a coach you are able to reach many more people when you add group coaching and you are able to earn more per hour of coaching.Coaching clients can pay a lower rate for group coaching and they also benefit from the input of the collective group. There is an electricity and a wonderful group dynamic that is created when people who are trying to deal with similar issues, challenges and goals come together to find solutions. I feel the benefit for everyone increases with well done group coaching.
Home study programs are another way to generate additional coaching income. You can create a product that coaches around a common issue for your target coaching niche. There are many people who need coaching but cannot afford one on one coaching or do not have the ability or time to dedicate to one on one coaching.You can help people at their own pace with products that you create around challenges commonly faced by your target coaching niche. The added value to home study products is that the client can return to the product many times to reinforce the learning.
Products are your escape from being time reliant.By commercialising products you rely less on time as your commodity.Move from one-to-one to one-to-many. Most coaches sell one-to-one coaching as their core service. This restricts your time, and also limits your commercial reach. Commercialising products allows you to leverage your intellectual property by 10, 100, 1000 times. You can be selling hundreds of eBooks; eCourse; tele-clinic seats; pe! r week. Now that's how to leverage your knowledge and time!
o, you've decided to sink your teeth into the field of coaching. After identifying what to coach about and after researching your target market, the next step that you need to take is to decide on what type of information product you're going to sell. In this article, I wish to share some tips on how to create your product line to ensure your success in this type of business.
For example, if you're thinking about selling $1,500 phone coaching programs, you cannot really expect your prospects to shell that amount of money on their first transaction, right? Especially if you're a newbie. Naturally, they'll hesitate and they'll most unlikely to take the risk. What you can do is to teach them to trust you without asking them for too much money in the process. Sell them $15 newsletters or $30 ebooks first. If they're satisfied, they'll most likely to be more comfortable in buying your $100 CD series and later on, your $250 seminars. Do this until you can get them to buy your high-end products which is usually your coaching programs.
Value-add. Products are an excellent way to value-add your services. For instance, you may use a 6-week ticket to your specialist tele-clinic as an incentive to upsell prospects from a 3-month contract to a 6-month contract.Referral, Your products can be an excellent tool to incentivise referrals. You may go to the prospects in your funnel and say to them "We know you enjoy the information we provide you, and we're sure you know other that would benefit from it. If you put us in touch with these people, as a thank-you we'll give you this! XYZ product." JV Incentives. Products are an excellent way to provide incentives for joint ventures. For instance, just say you approach a gym or a health spa, and undertake some cooperative marketing. They write to their members and inform them that for a limited time they can go to your website and download a free special report ! "How To Overcome The 7 Biggest Barriers To You Achieving Your Fitness Goals, by specialist life coach ABC." To download the report they have to give you their name and email address.
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