Viable Coaching Business or Expensive Hobby?

Viable Coaching Business or Expensive Hobby

As a funnel strategist and business mentor, I get queries from people who don’t know if they can monetize their business idea.

When they start they find it’s harder than they thought. They struggle and give up, or they persevere, trying to make it work even when it’s not viable. 

Has this happened to you? In this blog, you’ll find a couple of things that you can look for in your business if things are not working well to determine if you should keep going or not.

       1. Check your niche

You need to see if you have entered into a niche that’s not easy to monetize. Maybe you have had a great experience with something and you think that you can monetize it.  Whatever it is, it needs to be solving a problem that people actually have. If people aren’t looking for your solution you won’t be very successful selling it. 

Have a look at your niche and see if other people are selling similar products or services. If they are, that’s a great sign that there is demand.  But if no one else is selling in that niche, then be honest with yourself as to whether or not you offer can be monetized or not.

      2. Revise your messaging

Are you clearly articulating who you are and how you help people so that everyone else can figure it out? If you’re not being clear, your messages will fall on deaf ears. So, work on how you communicate to your audience what you do and how you help and the right people will let you know they’re interested.

     3. Are you generating leads?

You need to be generating leads every day in your coaching business.  You can’t sell to the same people all the time, so bringing in leads is a critical activity that you need to have on repeat all day, everyday. 

    4. Is your offer attractive?

Does your offer solve an existing problem? Do the research and figure out what your audience really need.  Package that into a kick-ass offer that is irresistible and a no-brainer to buy. Then you’ll see it fly off the shelf.

    5. Confidence is key

Ever tried to sell something you don’t feel good about?  How did that go?  I bet it didn’t sell well.  

You’ve got be really confident about your offer and back it.  If you don’t believe it’s going to make a difference in people’s lives you’ll have a hard time convincing people that it’s what they should be investing in. 

When you sell something valuable that you know will help people, that will see your confidence go up.  A confident person is more likely to sell than someone who is not confident. 

    6. Build an audience

You need to be able to build an audience that want what you have. This is like a domino effect.  if your messaging isn’t right up front, then you won’t get leads.  Without leads you won’t be able to sell. If you’re not selling then you won’t get testimonials.  See the cycle?

If any of these things are missing in your business, then it will be really hard for you to create consistent income! 

But don’t worry, help is available. We have some training in our group where you can learn more. 

Join us here: https://www.facebook.com/groups/coachingfreedombusiness 

 

Colleen is a Funnel Strategist & Business Mentor helping driven coaches wanting to create a freedom business with uncapped revenue and massive impact without having to work more. 

The signature Get Clients program is designed to help online business owners make more money, doing what they love. The program will guide you through a simple process to help you get more clients, income, and freedom in your life.

To learn more about it Click Here.

Or join our Facebook Group for weekly trainings here.

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