Hard truth incoming below for all the coaches and service providers out there...
If you can only commit to part-time hours in your business and you aren't making $100,000 in revenue yet, it might be because your available time is being sucked up through a 1:1 model.
The problem with selling single sessions...
Health Coach Training, Life Coach School, University.... most of them... Promote individual coaching and consulting as a business model for success... And... 100% this can be helpful when you're getting started to:- Get to know your people
- Develop a consistent formula and know intimately how to help
- Get some initial income through the door
- 833 sessions per year
- 17 sessions per week (48 weeks of the year)
- Answering potential client enquiries
- Updating your website and services
- Preparing resources
- Sending email follow ups
- Showing up on social media
- Upskilling and maintaining professional knowledge and networks
- Admin and bookkeeping
The fix-it-all-in-one phallacy
The other problem with selling single sessions is that of course - your market will always choose the lowest price alternative - so if you're selling single sessions - psychologically and subconsciously, your audience is going to choose that option because it's less risk-adverse, but also believe it's possible for the problem they have to be solved in a single session. Never ever in the history of coaching and consulting have I met a client whose problem could be fixed in a single session. Yet, what I see happen frequently is that we feel so pressured to 'impress' during that session that we word-spew so much information to the client and try to condense everything we know and everything they need to do into that single session so that we wow them into coming back. One of two things typically happen:- They think "Great!" I've got everything I needed and walk away thinking they don't need to come back - yet, we all know that knowledge and implementation are two very different things and they may fail to take action, and then not receive the result they were seeking, so they're back at square 1 (still with their problem)
- They're completely overwhelmed. There's just so much information that was hard to take in and then like a deer in headlights, do nothing, and still don't come back.
A better option: Package your Services
A better option is to package your services into an offer that is unrelated to an hourly rate, and this would be packaged into a group of sessions, plus additional bonuses (look - you're likely already providing this and you just haven't advertised it that much). You're going to package this based on the transformation or result you help people achieve. So this might look like:- Healing adrenal fatigue and getting your energy back (rather than 6 x naturopathic sessions)
- Creating and launching a top rated podcast (rather than 6 x business coaching sessions)
- $1,500
- 3 month package
- Sessions every two weeks (so six sessions total - and I usually say the first session is a 90 minute deep dive to lend clarity to what happens)
- Unlimited laser coaching (this is what I say for support in between sessions - via Voxer, Slack, Basecamp, Email or Messenger)
- Other digital resources and things that you've likely already created for other clients to help them action, implement and save time/moneythrough the process such as:
- Templates
- Cheat Sheets
- Other programs or courses
- Recipes
- Guides
- Personalised plans
- Audit of materials and homework (i.e. it might be a food diary)
- I always like to send a little gift - commensurate with the investment they've made - either right at the start, or near the start when they've reached a particular milestone (I don't usually advertise this but factor it into pricing)
The best option: A time-leveraged signature program
1:1 services can be great and a great starting point for bringing revenue and results into your business (this is where you'll get a really good sense of your clients, what your superpower is and a formulaic process for getting results) but - you might be really limited in the number of hours you can work or just straight up burnt out Or for example, when I used to be a life coach - know that I was better as an educator than someone who worked in a 1:1 capacity. Whatever that looks like, there are other, more strategic ways to create a sustainable revenue without burning out…. And there will inevitably come a time when you’re ready for more space and freedom with a signature program.- When you have a signature program:
- You have more time flexibility
- You can take on an unlimited # of clients
- You can simplify how you help people
- You can become known for one thing
- You can automate or eliminate large parts of your business (like discovery calls)
1. Up your Prices
Yes, you’ll lose a few clients, but that’s the point, and chances are you’re not charging enough anyway. Ignore what everyone in the market is doing and raise your prices. Hopefully, you’ll retain a few clients but maintain the same level of income you had before, freeing up time for you to work on other things. And.... the clients you attract for a premium price are generally the type of clients who'll get the best results, and be most prepared to do the work. Win. Win.2. Create a Runway
Allow yourself some time to create and warm up your audience with your new business model by leaning out your expenses and building a revenue runway of 3 - 6 months. This means that ideally, your business bank account can sustain you for 3 - 6 months while you invest time (not spend, invest because it will pay off later) in creating this new revenue stream. This takes away some of the pressure to make an instant switch (and be successful right away - because sometimes there are some kinks to iron out) and often you’ll need to be focusing more on social media.3. Brainstorm
Brainstorm your product at a very basic level. Do not create your entire program and product in advance (because you don’t know that it will sell). You want to just brainstorm:- What the transformation is?
- What one problem it solves?
- Who it’s for?
- How long it would take for someone to get a result if they put in the work
- Any other requirements…
You'll never feel like you're ready You'll never feel like there's enough time You'll never feel like your audience is large enough You'll never feel like 'now' is the right time.You just have to commit and go for it! And sure, it helps if you have an audience and email list, but neither of those things are necessary. Not only does selling your program before you create it help you feel validated and motivated while you're delivering it- it also does a few other vital things:
- It validates that demand in the market exists (often we can ask our audience if they would be interested in a thing and they all put their hands up and say yessss, but when we ask them to put their money where their mouth is - everything changes). Straight up asking people to pay is the No 1 way to check that demand exists in the market. And if demand doesn't exist, phew! you've just saved yourself so much time - you get to tweak and refine, and then pitch again later (rather than spend years putting something together only to find out there was something not quite right in the offer or messaging and have to start again from scratch).
- It helps you write better curriculum. In our Signature Success Framework I teach how to put together a logical and cohesive structure to your program - but there's always golden bits of information that come from the clients in your first round. When you put out an Ascertain launch - you'll get feedback right out the gate, as well as feedback as you go through - to ensure that your curriculum is the absolute best it can be and you can tweak and refine as you go.
- Quite simply: launching like this makes everything happen faster. I've worked with service providers before who have dreamed of creating their signature program for more than three years - it will take months (and years) longer, when you're trying to get everything finished and perfect first. Launching in this way ensures you'll be out of the gates far faster than you would have otherwise.