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Q&A: “How do I choose a revenue model for my coaching business?”
That’s the topic of today’s listener question. It comes to us from a new coach who’s eager to jump in and is looking for direction.
Most successful coaches have more than one source of income: they sell private coaching, of course, but also group coaching. Then, they usually have programs or other one-off educational resources for sale. Some of them also earn affiliate income and maybe some other things too.
When you're getting started, though, is it best to focus strictly on a single business model? Or is it wiser to diversify and build multiple programs at once? I don't just mean "different business ideas," I mean within the framework of coaching.
Kara, you’re right that over time most successful coaches or consultants usually develop multiple sources of income—and I also agree that you should start with one core service. After all, if you don’t get the core service, everything else in your business will be a struggle. But if you do nail the core service, adding additional options will feel natural and easy.
So I used that phrase a lot there (core service) and I think that’s what you focus on, much more than the one-off educational resources or affiliate income or anything else.
To do that, think about these questions:
What is the main benefit you’ll offer your clients? How will they be different after a session with you?
How will you go from coaching idea to coaching offer? An offer has a price tag, it has some kind of call-to-action, and it’s as clutter-free as possible.
So that’s what I’d do! Good luck.
