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.
Constant communication. You don't want your prospects to soon forget about you. So, maintain an ongoing communication with them. You can do this by sending them weekly newsletters, surveys, questionnaires, and freebies that are full of great content. Don't forget to encourage them to communicate with you if they have any questions about your products and services.Offer free sessions via Skype.
You'll become less reliant on your time. As a coach, what is your commodity? When everything is distilled down, what are you selling? Coaching? No. Happiness? No. Success? No. Health? No. You are selling your time! Time is your commodity. And when time is your commodity and you are reliant on selling your time, you! r income potential is extremely limited. You can only realistically work 8-hours a day. So the only way to earn more money is to charge more. There is a limit to how much you can charge. And when you stop selling your time (go on holidays with your family; get sick), your income stops.
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!
When thinking about starting your coaching business, it's important that you do not offer coaching programs right away. You need to sell something that is cheap enough that people wouldn't mind trying out.
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.
Constant communication. You don't want your prospects to soon forget about you. So, maintain an ongoing communication with them. You can do this by sending them weekly newsletters, surveys, questionnaires, and freebies that are full of great content. Don't forget to encourage them to communicate with you if they have any questions about your products and services.Offer free sessions via Skype.
You'll become less reliant on your time. As a coach, what is your commodity? When everything is distilled down, what are you selling? Coaching? No. Happiness? No. Success? No. Health? No. You are selling your time! Time is your commodity. And when time is your commodity and you are reliant on selling your time, you! r income potential is extremely limited. You can only realistically work 8-hours a day. So the only way to earn more money is to charge more. There is a limit to how much you can charge. And when you stop selling your time (go on holidays with your family; get sick), your income stops.
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!
When thinking about starting your coaching business, it's important that you do not offer coaching programs right away. You need to sell something that is cheap enough that people wouldn't mind trying out.
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.