Creating a detailed business strategy is a pivotal step to take if you want to make it in the coaching industry. But, in order for it to lead to the success you’re looking for, it needs to be effective! 

There are many ways to make an effective coaching business strategy, and a lot of it will be personalized to you and your vision. However, there are three things you should keep in mind when brainstorming for your coaching business. And we’ll be covering those three things today! So let’s begin…

Create a USP

One of the most important things you can do to ensure your success with any business, including coaching, is to have a USP. But in case you don’t know what that is yet, let me explain. USP stands for a “unique selling proposition” and it essentially means an aspect of your business that makes it stand out.

Having a USP is important because the online education and service based industry, which coaching is a major part of, is estimated to reach 370 billion members before the end of 2026; and in order to get a slice of the pie, you have to stand out. This is considered by many to be a standard business practice.

Lucky for you, it’s super easy in this industry if you have a smart niche/ micro niche. And if you don’t, then there’s no need to worry because I’m going to share a few strategies to think about while you form one.

• Firstly, you need to make sure that your USP lives up to the “unique” part. It should be something that a potential client couldn’t get anywhere else, and to make sure that it’s one-of-a-kind, you’ll need to do a considerable amount of research in regards to your competitors.
• In addition to being unique, your USP also needs to be short and sweet. Meaning that it should be a unique offering that can be summed up quickly, so that you can easily add it to all of your branding. Statistics show that sometimes you only have 3 seconds to convince someone to learn more about your business, therefore, your USP should be something that people can understand within that timeframe.
• And lastly, you need to choose a USP that focuses on a very specific problem. It’s a hard fact to face, but you’re not going to be able to appeal to everyone at once. So the best thing you can do is narrow down what your ideal client is, and figure out a way that you can convince them to think twice about your business.

Focus On Product Design

When you’re looking to increase your income as a business owner, a tried and true strategy is to simply make more products to sell. And although it might seem like the coaching industry isn’t the best one to sell products from, that’s not necessarily true. Many successful coaches have supplemented their incomes by creating products such as courses.

But one reason you might shy away from this business practice is because creating a product can be a bit overwhelming since the need to create something top-notch is ever-present. And truth is, as the online education industry grows, there are certain standards you have to hit. 

But here’s the thing… product design doesn’t have to be super difficult! So there’s no need to send your life’s savings on a super expensive developer in order to create a product that will sell. Instead, you’ll want to focus on client fulfillment and making their experience with you more enjoyable and interesting. Because you can easily achieve those goals without breaking the bank.

For instance, you could choose a software like Thinkific or Kajabi; which would allow you to easily create a course that your clients will love, without any money wasted. 

Now if you don’t have a product as such the next one is for you.

simplify your service offers

In the coaching industry, since your focus is teaching a client how to do something, it’s easy to create large offers. Your services might include a guide that covers the entirety of their chosen path, a course that has hundreds of chapters to talk about the hundreds of things your client needs to know, etc.

Because in life, there’s always 101 things to do and even more ways to go about doing it. Which results in unnecessary complications and confusion for people looking to get started on something. Potential clients might be turned off by too complex of an offer because it makes the journey towards their end goal look impossibly long.

So what you need to remember, as a coach, is that sometimes a client needs support in the first few steps of their journey; not the whole marathon. They need a coach that will show them that what they want to do is possible, attainable, and not overly complicated.

Which is why it can sometimes be an extremely effective strategy to “water down” your offers, so to speak. Make sure that your offers are concise, to the point, and only offer a few solutions at once. Solutions that your potential clients can clearly envision helping them along their journey. It’ll make them much more inclined to invest in your services.

And that concludes the three things we at Boss My Life think every coaching business strategy should have in common…

I hope that at least one of these tips can be applied to your coaching business strategy, because they’re all equally important parts of increasing your income as a coach.