The first step to start your coaching business is to create your own community.
You need to have at least 100 people in your own private community who know you and see you as an authority in the market.
Once you create your community, proceed with the following points:
Selection Of Course Topic
Don’t select the topic of your course yourself, instead, ask your community which topic are they facing the most problems in.
Run a poll and give them some options to select from, and then see which option gets the most votes.
You can decide what to put in your course by calling each and every member of your community and asking them what exactly are they looking to achieve from the course.
This will give you enough idea on what topic to create your course on and what all should you include in it.
Create MVP For Your Course
MVP means a very raw form of product that is used to see if there is a market for it.
In your case, create just the outline of your course structure and what all will be the benefits of enrolling in your course as your MVP.
Take the pre-orders from within your community, even before creating your course.
The recommended price for your first course is 3000 INR to 5000 INR, and if you can get at least 10 students to buy your course then it is good enough to start the journey.
And if 20 students buy your 5k course, you will generate 1 Lakh in revenue.
Do the sales webinar, try to convince them to preorder the course.
If they don’t buy it, then ask them to book a call with you and personally convince them to buy it.
This will get you a lot of insights on what motivates your customers to make a purchase and why they say no.
What doubts do they generally face while making a course buying decision?
And it helps you get a better understanding of your customers as well.
Build your first customer success story through this batch.
But if you couldn’t get enough people buying, then you can cancel the course creation and refund people with their money.
The mentality here is that don’t start with the product… start with the tribe and make your products according to their needs.
The technology could be imperfect, the course could be not scalable, but your initial set of customers will give you the confidence that there is a future.
Start Your Course
Create a schedule for live training for 8 to 12 weeks.
This will save you from creating all the course content right in the beginning.
Start the live training.
Add people to your WhatsApp group, and give them support.
Answer all their questions and this will get you more ideas on what people need and how you can add it to your content.
Once you did it 3-4 times and got most of the FAQs answered in your training, then you can create recorded videos to make it a scalable model.
Make your training actionable as much as you can.
Because only when people take action is when they get results.
And if they get results which they weren’t getting anywhere else, that is when your brand value will start growing as your student’s success will attract more people inside your coaching business funnel.
Your final version of the course will become your intellectual property that will keep giving you the returns for years.
Long Term Vision
Repeat the process above to create more courses related to your field, so that you can add more value and get more revenue from the existing set of students.
Take the approach of a Cohort-Based course system so that students can have access to other students who are also in the same cohort, and let them help each other with their doubts.
Automate your business by building your core team which can help you with the operations and support system for the students.
You can hire your team members from within your community of students so that you can have the best-performing minds working within your team.
The approach discussed above to start your coaching business is very different from how most people approach it.
But trust me, it will save you so much time and trouble, and help you create a business that has very strong roots.
An important point to remember:
Your relationship starts with your students when they buy your course, so after selling it, don’t forget about them.
This is the mistake most of the trainers do.
Be a mentor, not a course seller.
That’s it. Happy coaching 🙂
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