Hello, this is Coach Ajit.
And in this video we are talking about,
how quickly can you really create decent income?
How quickly can you really make good money as a coach?
And this video is applicable if you're a life coach,
a business coach, a health coach, or any other kind of coach
that is looking to find a path, is looking to find a model
that can give them some sense of certainty
about how quickly can they go from zero
to making decent amount of money
that will help them sustain their career
or fully transition into their coaching business.
To make this video very valuable to you,
I am breaking it apart in two different parts.
The first part we are going to discuss
how quickly can you go from zero
to making a decent amount of money
in your coaching business.
And the second part, we'll discuss some models
of being able to build a coaching business.
These models will guide you a little bit better
in what you could do structurally in your business,
so you can design your business to create the income
that you truly desire.
But before we get to the second part,
let me remind you something that is very important.
You see in 2022, if you wanna create success in your life,
you wanna be in an environment
that creates consistent learning for you.
To be in an environment like that,
I invite you to hit the red subscribe button
that you see below this video,
because when you subscribe to this YouTube channel,
you get videos like these every single week
that will elevate your understanding
of your coaching business, your understanding
of how to deliver results for your clients.
And that will in turn, help you live your passion
and create a business that you truly love.
So if you haven't yet,
go ahead and hit that red subscribe button.
Now let's get back to the first part of the question.
The first part of the question is how quickly can you go
from zero to a decent income or good income as a life coach,
as a business coach, as a health coach, as a mindset coach?
Here's the first thing that you need to do
to figure out how fast or how quickly can you go from zero
to making decent amount of money as a new coach.
The first thing that you need to do
is to define what good money,
what decent money really means in your reality.
You see all of us see money differently,
we have an inherent money story that runs
at the back of our mind.
And because of this default story that runs in our mind,
we have a different understanding of what decent money is.
For some people who may have families,
decent money it looks different.
It depends sometimes in the state of the country
that you live in.
It depends sometimes based on the realities
that you've lived in the past
and the needs that you have to make you feel fulfilled.
So the first thing that you need to do as a coach
is to identify for yourself what is decent money?
What's that number?
And I want you to get specific about it.
Don't give me a range of money,
don't write down a range of money that you'd like to create,
but give me a specific number.
Now the number that you define for yourself,
I want you to be optimistic about it.
Don't try to find the absolute bare minimum
where you get no pleasure out of life to be a good number.
Make sure that the number that you define,
the good number that you define for yourself
is actually optimistic.
It's a little bit more, it gives you comfort in life.
It gives you that ease of being able to go
for the massage that you wanna go to,
or be able to take that vacation that you truly might need.
So find a number that feels like good, decent money,
and then push it by 5 or 10%
so it becomes a little bit more optimistic.
Now, once you have identified this number,
I want you to take this number and divide it by 10.
The reason why I want you to divide it by 10
is because it gives you the number
that you need every month if you had 10 clients.
From my point of view,
getting 10 clients is not very difficult
and so I use the number 10.
But while doing this exercise,
if at any point you feel 10 is not reasonable,
it's too hard, it's too difficult in my reality,
for me to think about getting 10 clients
choose a number that feels comfortable to you.
Now we're gonna have some more fun with numbers.
Once you have found that monthly number,
work with the assumption,
because you are say new in coaching,
that every one in five conversations
will become an enrollment.
That means if you'll talk to five people,
one of them might say that they would like to work for you.
Now, this means that if you chose the goal
of 10 clients a year, you are looking at about
50 conversations over a course of a year
because every five conversation
one person becomes a client.
That means if you have 50 conversations,
you will have 10 clients.
One of the secrets to create incredible amount of abundance
in your life is to understand
that abundance doesn't happen in spikes.
You need to work on what you're creating on a daily basis,
and you need to track it on a daily basis
so you can hold yourself accountable,
and stay with the journey so abundance can be created.
I share with you this because once you have the number
of amount of conversations you need to do overall,
you need to track how many are you doing on a weekly basis?
How many are you doing on a daily basis?
As you will start tracking these conversation,
as you started tracking how many people
that you have to meet to start a coaching conversation,
how many of those coaching conversations
turn into a client?
How many avenues are there,
where you can actually open coaching conversations?
You'll start to see a trend.
This trend will give you a better prediction
of how many events you need to attend,
how many people that you need to open a conversation with,
which model of opening conversation works better
in your reality because it tends to create potential clients
that are more likely to say, yes.
All of this data that you will gather
as you're doing this work will start to inform you
how many months will it take for you to get your 10 clients.
And while that is the amount of time that you will take
to be able to create the income
that will make you feel comfortable, safe, and good,
and it will be decent money for you.
So also help you design how long it might take
for you to transition careers.
So say for example, you are somebody who's working in a job
where you make decent amount of money,
and now you want to replace that income
with your coaching income so you can safely quit your job
and focus on something that you truly love.
It's easy to now mathematically find out
how long it will take you to create that income,
so you can replace that income and safely quit your job
because now you're making decent money as a coach.
Before I get to the second part of the video,
where I'll show you three different business models
that you can use to create a decent amount of money
in your coaching practice,
I would love for you to use the comments section below
and share with me,
how long are you going to take to transition your career?
Share with me, how long will it take you
to create decent, good income as a coach?
This data will be very useful for you to see,
not just for yourself, but for other people.
You will be able to see that there are people
who are taking much longer,
and some people that are taking much shorter
to be able to create the income that makes them feel safe,
that is good, decent money for them.
It is not to compare, but to be inspired by
and to understand that this reality changes by the person.
There are too many circumstances that all of us live in
that define how quickly or how slowly something can be done.
So while this model will give you
somewhat of an accurate idea of how long it will take
for you to be able to create decent income,
it will also show you that no two people are made same.
And so if anybody promises you
that it always takes X number of weeks
or X number of days for somebody to become wealthy,
they're almost always wrong
because they haven't factored in your circumstances.
Now with that information, let's go to the second part
that will help you further create decent, good income
as a coach, as a life coach, and as a business coach
or a health coach or a mindset coach.
I wanna share with you three models
that will help you really understand
how you can generate good income for yourself as a coach.
The first model I wanna talk about is one-on-one coaching.
One-on-one coaching requires a lot of time dedicated
because you're only working with one person at a time,
but it's also one of the most profitable models
that you could start.
The reason is because there's no overhead,
there is no real need for technology when you start,
if you're working with five to 10 clients
that might be taking care of all your ambitions,
are creating good, decent money,
you don't really need very sophisticated technology.
You just simply need to have a really good coaching model
that creates the results that these clients need.
And because of that, and because of low overhead,
you might be able to get started
and get successful much faster,
if you started with the one-on-one coaching model.
One-on-one coaching will turn in
a lot more revenue per client, making it less of an effort
to find all the clients you need.
The only challenge, it takes a lot of time
because you're working with only one person at a time
and you're serving only one person at a time.
And over time, it can get a little frustrating
and becomes really non-scalable.
So the first thing that you need to consider
when you're starting out is, does that appeal to you?
Because if that is something that appeals to you,
it might be the quickest path for you to go from zero
to making decent amount of money as a coach.
The second model that you wanna consider,
and it is the model that most coaches like to keep
for a really long time is group coaching or mastermind.
This model is where you're working with a group
of individuals that are seeking a similar outcome
to come together and be coached by you at the same time.
Sometimes you're even borrowing intel
from one person to another,
and so all of you can learn together.
This is a beautiful model.
It requires slightly less amount of time
because you have one meeting where you're serving everybody,
and it still creates a very good amount of money.
It is most definitely less than one-on-one coaching,
but it is significantly more still,
so you don't have to look for hundreds of clients.
You can make pretty good money,
pretty decent money with just 20 or 30,
maybe 50 clients at max.
And with that, without taking in extra time,
you can create a fairly scalable coaching business.
And that would be the second model that one would keep.
The third model is a course model.
A course model
is where you have predefined the exact outcome
and the journey that a client will go through.
This is where there might be a module
that might open up in a week,
and everybody studies the same module.
And then they come in for a live coaching environment
or a live coaching session.
Sometimes you can even have other coaches
that understand your methodology
or the students that understand your methodology
run this model.
So this model becomes very less on time intensity,
but also courses are significantly cheaper
than coaching models or group coaching models,
because there's not as much one-on-one interaction
and personal attention that is given to each student
in the program, which makes it a little bit difficult
in making good amount of money.
You need hundreds, sometimes thousands of students
to be able to make decent good money
in a model like the course model.
Also in the course model, you have competing companies
that have really invested a lot of time, energy, resources
in building something that really does work.
Here at Evercoach, we have invested
thousands and thousands of dollars
in designing learning experiences for each of our programs.
It's hard to compete with that much amount of information,
that much amount of variety of topics,
that much amount of quality that we can deliver,
just because we have invested so much time,
effort and energy into it
and been doing this for a very long time.
Most of our students finish our programs
and they also rank us really, really high.
We get some of the highest Net Promoter Scores
across the globe in coach education.
And so when you release a course,
you would be competing with companies like us.
So we here at Evercoach encourage you
to first use your greatest advantage,
which is you yourself as a coach.
Start with one-on-one coaching,
then go into group coaching or masterminds.
And then when you're ready,
when your clients are craving to work with you,
even when you don't have time,
that's when you start working on courses,
that's when you start releasing your courses.
Each of these models can be wildly profitable,
can definitely make you a decent amount of money,
but it can also set you up
as one of the best coaches in the world,
which is our dream for you, which is our hope for you,
which is also why we do the work we do here at Evercoach.
We create the world's best programs,
and we try to make them available to you
in the most affordable way.
If this information spoke to you,
if you felt like you would love to be
in a learning environment that is like this, and even more,
if you'd like to learn more coaching methodologies,
if you'd like to dive deeper so you can create
a more meaningful impact in your clients' lives,
check out our incredible offer on Evercoach Membership.
It'll be linked down below.
Thank you so much for joining me today.
If you liked this video hit that like button,
share it with a friend or a colleague
that can use this information.
And if you haven't yet shared,
share with me in the comment section below
as to what stood out for you in this video.
Thank you so much for watching.
This is Coach Ajit, and you're watching this on Evercoach.