The One-person Business Model for Coaches (How to Earn 6-Figures This Year)
Ready to earn 6-figure or more as a coach this year without the headache of leading a team or having the financial strain of high-cost payroll?
If so, the one-person business model for coaches may be just what you need to achieve your lifestyle and financial goals this year.
This is part one of a multiple-part video series where we’ll deep dive into the power and potential of taking a minimalist approach to your coaching business. We’ll also, be covering how a one-person business model for coaches can be structured, the pros and cons of running a one-person coaching business, and what exactly you need to run a one-person coaching business and earn 6-figures or more without trading all of your time for money.
So, what is the one-person business model for coaches? Simply put, it’s a way to earn a full-time income as a coach without having to hire a team or rely on other people to help you run your business. This model is perfect for coaches who want to keep things simple, focus on their passion, and still make a great income.
Now to be clear there is no one size fits all approach to owning and operating a one-person coaching business, but here’s what I’ve found to work best for me, a busy homeschooling mom of two.
One of the best ways to earn 6-figures or more as a one-person coach is through group coaching. This can be done through live in-person group coaching sessions, online group coaching programs, or a combination of both. Group coaching allows you to reach more clients at once, leverage your time, and create a scalable and sustainable business model.
But how do you price your group coaching program to reach 6-figures or more in a year? There are two main options: low-ticket and high-ticket offers.
Low-ticket offers are typically priced at $500 or less and are designed to be easy for your clients to say yes to. These offers are great for coaches who are just starting out and want to first focus on gaining experience or plan to offer a more broad-stroke solution to their clients.
To reach 6-figures with a low-ticket offer, you’ll need to sell your program to at least 200 clients in a year.
200 people x $500 offer = $100,