The idea of scaling a coaching business is to charge per person and multiply the amount by the number of people who attend. To do this, you need to decide on your model and unpack your intellectual property (IP). The first step is to fill your funnel and create authority. This will make it easier to sell to the people you have and make them important.
The second conversion engine is to sell with webinars. The third strategy is an advanced one. Coaches can increase their rates to adapt to demand. When you reach a maximum of 15-20 clients, you can increase your commissions (2 to 3 times in some cases).
This is called capacity-based pricing. You can also double or triple your prices when you reach maximum capacity. This way, you can have fewer customers but double the revenue. Another way to scale your coaching business is to hire associated coaches or consultants.
They will charge a typical hourly or daily rate, which is what you started charging when you opened your training practice. This means there is additional profitability for your business. However, this comes with the downside of having a small team of associates to manage and train. These are three strategies that can help you scale your coaching business and reach your million dollar goal. With the right approach, you can make sure that the coaches and consultants you bring are trained in your culture, vision, mission and core values, so that they also offer the same quality of work with the same capacity that you would offer your clients.
