So you've seen Marie Forleo's B School, or perhaps done the 12 week challenge with Michelle Bridges and thought: "I wish I could come up with something like that for my business."
Well... you can!
No matter what kind of business owner you are, sooner or later you’re going to discover two things:
- You have a limited number of hours to spend with clients
- There are many more people in need of your help than you have time to work with
The first problem affects your income. The second, your spirit. And both are detrimental to your business growth.
Now it might seem obvious that your time is limited.
After all, everyone is working with the same 24-hour day. But what a lot of new business owners fail to consider is all the time you have to spend on things that aren’t actually helping to get you more business.
- Unpaid discovery calls…sure, they often lead to a new client, but if you’re spending 30 or 60 minutes on the phone with each potential client, that can eat up your day fast!
- Support…if you’re like most business owners, you’re likely still handling a lot of support tasks yourself. Clients and potential clients call and email frequently, taking time away from those one-on-one calls.
- Marketing…without your blog, your email list, your Facebook groups, Pinterest, Instagram, LinkedIn and others, you soon won’t have any clients to serve. But this is all “unpaid” time as well.
So let’s be honest, when you take all of this (and the other endless tasks you perform as a small business owner) into consideration, your available time for one-on-one calls is really pretty limited. For most coaches, it’s less than 3 hours per day—and that’s if she’s highly motivated and extremely organised.
But what if, for one hour each week, you were able to reach 20 or 40 or even 100 people? Now instead of filling your day with one-on-one calls, you can actually work fewer hours while reaching more people and earning more money.
That’s the beauty of a group-coaching program.
Here’s another benefit many new coaches fail to see: the up-sell.
It can be difficult to fill a one-on-one coaching program without an entry-level product to act as the top of your funnel. A group-coaching program gives potential new clients a way to get to know you—and your coaching style—without a huge investment. And it gives you the opportunity to move those clients into higher end programs, such as your one-on-one coaching, a VIP day, or an exclusive mastermind retreat.
So not only can you serve a larger audience, but you can fill your available high-end coaching slots with action taking clients who already know and love you, and who you know will find success.
Now, creating a group-coaching program might seem daunting. There are a lot of moving parts to coordinate, but trust me, you already know what you need to include. All that remains is the planning and implementation.