If you’re anything like me, you’re passionate about helping others achieve their goals and live their best lives. But let’s be real for a moment – you’re also keen on turning that passion into a lucrative six-figure coaching business, am I right?
Making six-figure months in a coaching business is every coach’s dream goal. This can be challenging, but it is possible with a persistent, and strategic approach to increase your revenue and achieve your goals.
If you’re reading this, chances are you’re eager to level up your coaching game and unlock the elusive six-figure mark in your business. Well, you’re in the right place because I’m here to share some golden nuggets of wisdom that have helped me turn my coaching passion into a lucrative venture.
First things first, let me introduce myself. I’m Kavitha, and I specialize in helping coaches just like you break through the barriers holding them back from achieving consistent clients and revenue.
Believe me, I’ve been there – struggling to fill my client roster, wondering if I’ll ever hit that six-figure milestone. But through perseverance, trial and error, and a whole lot of learning, I cracked the code, and now, I’m here to pass on what I’ve learned to you.
There are several things that you can do to increase your income as a coach and potentially make six-figure months:
- Focus on high-ticket coaching
- Build a strong personal brand
- Offer additional services or products
- Build a referral network
- Continuously improve your skills and knowledge
1. Focus on high-ticket coaching
One way to make more revenue as a coach is to focus on offering high-ticket coaching programs or packages that provide more value and are priced accordingly. This allows you to serve a smaller number of clients at a higher price point, which can help you reach your income goals more quickly.
Focus on a specific niche: One of the biggest mistakes I see new coaches make is trying to appeal to everyone. I’ve been there too. But the truth is, when you try to speak to everyone, you end up speaking to no one.
One of the biggest mistakes I made early on was trying to be a jack-of-all-trades coach. I thought casting a wide net would attract more clients, but it only left me feeling scattered and overwhelmed. I spent months jumping from one coaching topic to another, feeling like I was spinning my wheels. It wasn’t until I honed in on my niche – business growth coaching for struggling coaches – that things started to click.
Identify what sets you apart and who you serve best, then own it. When you become known as the go-to expert in your niche, attracting clients becomes a whole lot easier.
By specializing in a specific area, you can differentiate yourself from other coaches and attract clients who are willing to pay a higher fee for your specialized expertise.
Position yourself as an expert: Share your knowledge and experience through blog posts, articles, videos, and other content. This can help you establish yourself as an expert in your field and attract high-ticket clients who are willing to pay for expertise.
High-ticket clients are often willing to invest in coaches who demonstrate a deep understanding of their industry and can offer personalized strategies for success. By consistently delivering high-quality content that addresses the pain points of your target audience, you can attract clients who recognize the value of your expertise and are willing to pay a premium for it.
Moreover, sharing your knowledge through content allows you to reach a wider audience beyond your immediate network. As your content gains traction and visibility online, you’ll attract the attention of potential clients who resonate with your message and approach. This organic exposure can lead to valuable connections and opportunities for collaboration, further solidifying your position as an authority in your coaching niche.
In addition to attracting high-ticket clients, establishing yourself as an expert can also open doors to speaking engagements, guest appearances on podcasts, and other lucrative opportunities.
When you consistently demonstrate your expertise and thought leadership in your field, you’ll naturally become sought after by organizations and media outlets looking for expert opinions and insights.
Offer high-value services: Create irresistible coaching packages that offer a clear transformation and value proposition. Think about the results your clients want to achieve and tailor your packages to help them get there.
By offering packages instead of hourly rates, you not only position yourself as a premium service provider but also create the opportunity for higher revenue.
Consider offering high-value services, such as VIP days or retreats, that provide a more intensive and personalized coaching experience. You may also consider DFY services. These services can command a higher fee.
Network with potential referral sources: Networking isn’t just about collecting business cards at events – it’s about building genuine relationships with people who can help elevate your coaching business to new heights.
Connect with professionals, such as therapists, other coaches, doctors, and attorneys, who may be able to refer high-ticket clients to you.
But networking isn’t just about what you can get – it’s about what you can give. Approach these potential referral sources with a spirit of collaboration and reciprocity. Offer to share resources, insights, or even client referrals that align with their areas of expertise.
By fostering mutually beneficial relationships, you’ll not only expand your network but also strengthen the foundation of trust and credibility upon which your coaching business thrives.
Prioritize consistent marketing: Consistency is key when it comes to marketing your coaching business. Set aside dedicated time each week to promote your services, engage with your audience, and nurture leads.
Whether it’s through email marketing, content creation, or networking events, make sure you’re consistently putting yourself out there and staying top of mind with potential clients.
By maintaining a consistent presence, you not only stay top of mind with potential clients but also demonstrate your commitment to helping them achieve their goals.
Use paid advertising: Consider using paid advertising, such as Google Ads or social media ads, to reach potential high-ticket clients. By following these strategies, you can attract high-ticket coaching clients who are willing to pay a premium for your expertise and services. But, here’s the twist.
I have tried these myself and it takes time to position yourself as an authority in your niche and build your network. It also involves investment if you’re going for paid ads. Even if you take the organic route that most of the gurus and coaches are teaching – Facebook funneling, Facebook Groups, Influencer marketing, Content Marketing, Attraction Marketing, etc, etc; it takes time.
I am sure you will agree with me if you’ve tried any or a combination of these techniques. I have been there and it took me 3 years to find the right system that worked well for me. And it is super easy and simple too. Above all, I could save hours back in my business. I always tell my tribe and clients – “ I want a profitable business wherein I need to work just a few hours a week. I do not enjoy hustling 12- 14 hours a day creating content, being omnipresent on 10 different socials, building your network, engaging in 10+ groups and forums, building your tribe, warming up your audience, and more…”
When will you get time to focus on your business?
It was not until I came up with my ATM framework, that I was struggling to get new leads and clients for my business. Now I have freed more than 20 hours of my time a week.
2. Build a strong personal brand
A strong personal brand can help you stand out in the coaching industry and attract higher-paying clients. This involves creating a clear message and positioning yourself as an expert in your niche, as well as building a following and community through social media and other channels.
A strong personal brand can help you stand out in the coaching industry and attract the clients you want to work with.
Here are a few tips for building a strong personal brand:
Define your target audience: Identify the specific group of people you want to attract as clients. This will help you focus your branding efforts and ensure that your message resonates with your desired audience.
Determine your unique value proposition: Determine what sets you apart from other coaches and what value you offer to your clients. This should be the foundation of your personal brand.
If you do not know what a Unique Value Proposition is – A unique value proposition (UVP) is a clear and concise statement that explains the unique value and benefits your business offers to its customers. It helps you stand out from your competitors and attracts potential customers to your business.
To determine your UVP, you should consider the following steps:
a) Identify your target market: Knowing who your target market is will help you understand their needs and preferences, and tailor your UVP to appeal to them.
b) Understand your competitors: Research your competitors and analyze their UVPs. This will help you identify what sets your business apart and what unique value you can offer.
c) Identify your unique selling points: Think about what makes your business unique and what benefits it offers to your customers. Consider factors such as your products or services, your company culture, and your customer service.
d) Test and refine your UVP: Once you have identified your UVP, test it with a small group of potential customers to get their feedback. Use their feedback to refine your UVP and make it as effective as possible.
Keep in mind that your UVP should be specific, measurable, attainable, relevant, and time-bound. It should clearly communicate the value your business offers to your target market and help you stand out from your competitors.
Develop a consistent brand image: Create a consistent visual brand identity, including a logo, website, and social media profiles, that reflects your unique value proposition. This will help you establish a cohesive and professional image.
Communicate your brand message consistently: Be consistent in your messaging and communication across all channels, including your website, social media, and marketing materials.
Showcase your expertise: In today’s digital age, your online presence matters a lot. Use social media platforms like Instagram, LinkedIn, Twitter (X) or Facebook to showcase your expertise and provide value to your audience.
Share your knowledge and experience as tips, insights, ans success stories through blog posts, articles, videos, and other content. This can help you establish yourself as an expert in your field and build credibility with your target audience.
And don’t be afraid to show a little personality – people want to work with someone they know, like, and trust.
A strong personal brand helps you stand out in the coaching industry and attract the clients you want to work with.
Related Post: 16 Must-Follow Facebook Pages for Online Coaching Marketers
3. Offer additional services or products
In addition to coaching, you can also offer additional services or products to your clients, such as courses, workshops, or other resources. This can help you diversify your income streams and increase your overall revenue.
Offering additional services or products can be a way to diversify your coaching business and provide more value to your clients. Here are a few tips for offering additional services or products:
Identify potential services or products: Consider what other services or products would be relevant and valuable to your clients. This could include things like workshops, group coaching sessions, online courses, or coaching tools and resources.
Research the market: Research the market to see what other coaches are offering and what pricing and delivery models are most effective. This can help you develop a competitive offering that meets the needs of your target market.
Develop your offering: Once you have identified potential services or products, develop a clear plan for how you will offer them. This may include creating materials, setting up systems for delivery, and determining pricing.
Promote your offering: Share information about your additional services or products with your current clients and potential clients through your website, email list, and social media channels.
You can successfully expand your coaching business or add a passive income stream by offering additional services or products that meet the needs of your clients.
4. Build a referral network
Building relationships with other coaches, therapists, and professionals in related fields can help you get referrals and increase your client base. You can also offer incentives for current clients who refer new clients to you.
Building a referral network can be a powerful way to grow your coaching business. Here are a few tips for building a referral network in the coaching industry:
Establish relationships with other professionals: Connect with other professionals, such as therapists, doctors, and attorneys, who may be able to refer clients to you. These relationships can be mutually beneficial, as you can refer clients to them as well.
Build your online presence: Have a strong online presence, including a professional website and social media accounts, to showcase your coaching services. This can make it easier for potential clients and referral sources to learn about your work and contact you.
Participate in professional organizations: Join professional organizations and networks related to coaching. Many professional organizations offer professional development opportunities such as conferences, workshops, and certifications. This can provide opportunities to connect with other coaches, and potential referral sources, and learn about new opportunities.
International Coach Federation (ICF), Association for Coaching (AC), International Association of Coaching (IAC), European Mentoring and Coaching Council (EMCC), Coaches and Mentors of America (CMA), International Coach Federation (ICF) India, Indian Society for Applied Behavioral Science (ISABS) are just a few examples of professional organizations in the coaching industry. There may be other organizations that are specific to your region or area of focus within the coaching industry.
Attend networking events: Attend local networking events and conferences to meet other professionals and build relationships.
Networking provides a valuable opportunity to connect with potential clients, collaborators, and mentors. By establishing genuine connections and showcasing your expertise in person, you can expand your network and attract new opportunities for your coaching business. Remember to follow up with individuals you meet and nurture those relationships over time.
Follow up with past clients: Stay in touch with past clients and ask if they know anyone who may benefit from your coaching services. It helps you maintain relationships with your clients, stay top of mind, and get more referrals. Consider offering incentives to your past clients for referrals. This could be a discount on their next coaching session, a free resource, or a small gift.
Show your appreciation to your past clients for their referrals by thanking them and following up with them to let them know how their referrals is doing. This helps build trust and encourages them to refer more clients in the future.
Remember to be respectful and professional when following up with past clients and asking for referrals. Keep in mind that not all clients will be able to refer clients to you, and that is okay. Focus on building strong relationships and providing excellent service to your clients, and the referrals will come naturally.
Does coaching work? Yes. Good coaches provide a truly important service. They tell you the truth when no one else will.
Jack Welch
Related Post: Why Should You Add Coaching In Your Business?
5. Continuously improve your skills and knowledge
To attract high-paying clients and deliver value, it’s important to continuously improve your skills and knowledge as a coach. This can involve investing in your own personal and professional development, such as through coaching training programs or continuing education courses.
Continuous improvement is an important aspect of any profession, including coaching. Here are a few tips for continuously improving your skills and knowledge as a coach:
Seek out professional development opportunities: As coaches, we’re in the business of personal development, so it’s essential to practice what we preach.
Invest in yourself by attending workshops, hiring mentors, and continuously expanding your knowledge and skill set. Not only will this make you a better coach, but it will also position you as a leader in your industry.
Attend workshops, seminars, and conferences related to coaching. These can help you stay up-to-date on the latest research and techniques in the field.
Engage in ongoing learning: Ongoing learning is an important part of personal and professional development. It helps you stay current with industry trends, gain new skills and knowledge, and stay competitive in the market. Read books, newsletters, industry-specific magazines, articles. Many online learning platforms offer courses in a wide range of subjects. You can take courses on topics related to your field or explore new areas of interest. Attend workshops and conferences related to your field to learn about new developments and best practices. This can help you gain new insights and perspectives, and deepen your understanding of the field.
Reflect on your practice: Take time to reflect on your coaching sessions and practice. Consider what worked well and what could be improved, and make changes as needed.
After each coaching session, set aside some time to reflect on the experience. Consider the dynamics between you and your client, the effectiveness of the strategies you employed, and the outcomes achieved.
What aspects of the session felt particularly impactful or successful?
Were there any moments where you felt you could have done better or approached the situation differently?
Maybe you notice that certain techniques consistently yield positive results, while others seem to fall flat. Or perhaps you realize that you could benefit from further developing your active listening skills or asking more powerful questions.
Growth is an ongoing process, and even the most experienced coaches can always find ways to enhance their practice.
Collaborate with other coaches: Connect with other coaches and engage in regular peer supervision or mentorship. This can provide an opportunity to learn from others and get feedback on your practice.
Not only does this provide an opportunity to learn from others who may have valuable insights and experiences to share, but it also offers a platform to give and receive feedback on your coaching practice.
Plus, by networking with other coaches, you may even discover potential partnership opportunities or referrals, further expanding your reach and potential for growth in your coaching business.
Stay current with industry trends: Keep up with developments and trends in the coaching industry, such as new research, technologies, and best practices. Make sure to follow news outlets and blogs that cover your industry.
Connect with other professionals in your industry by joining online groups and forums. Attend industry conferences and events to network with other professionals and learn about the latest trends and developments.
Consider taking online courses or pursuing additional education to stay current with industry trends. This can help you gain new skills and knowledge that can help you stay competitive. Networking with other professionals can be a great way to stay current with industry trends.
Don’t Fear Failure: Finally, embrace failure as part of the journey to success. Not every strategy will work, not every client will be a perfect fit, and that’s okay. Learn from your mistakes, pivot when necessary, and keep pushing forward. Remember, every setback is an opportunity for growth.
Building a six-figure coaching business is entirely achievable with the right mindset, strategies, and dedication. By focusing on at least 2 or 3 or all these strategies and working consistently to build and grow your coaching business, you can increase your income and potentially achieve six-figure months.
So go ahead, dream big, take action, and watch as your coaching business reaches new heights of success. You’ve got this!
Cheers to your success,
Kavitha
If you’re ready to take your coaching business to the next level and unlock six-figure success, Let’s connect!
Schedule a quick 15-minute discovery call with me today to discuss how I can help you achieve your goals and transform your coaching business into a lucrative venture. Click here to book your call now!