Project Life Mastery

VIDEO 7: Coaching & Consulting

Welcome to the seventh online business model on Coaching & Consulting.

To learn more about this online business model, watch the video below and check out the additional information and resources listed below.

ABOUT COACHING & CONSULTING


Difficulty Level: Advanced

Coaching and consulting is an advanced business model as you require credibility to attract clients and to effectively be able to help others.  Credibility should be a level of success in your own life, a specialized knowledge or expertise, and a proven track record.

Startup Costs: $100+

The average startup costs for a coaching and consulting business is only $100.  You'll need a domain, hosting, website, logo, all of which cost money.  Skype is free to use.  However, if you're coaching large groups of people, then something like GoToWebinar will be required, which costs money.

Avg. Timeframe: 3 months

The average timeframe before someone can realistically begin to make money from coaching and consulting is within 3 months, depending on where you're starting from.  If you already have an e-mail list or subscribers, you can offer coaching services today and immediately begin making money.  However, if you don't have that, then it can take several months to establish yourself online as an authority and expert attracting clients to you.

Potential: $1,000,000+/year

The potential of a coaching and consulting business is a seven-figure income, over $1,000,000+ per year.

Passive: No

Coaching and consulting is not a passive income business model as it requires your time to work with people and help them.  You're trading your time for money.  However, it can be an enjoyable part of your business and be worth the immediate money you can earn from it.

FREQUENTLY ASKED QUESTIONS

These are some of the most frequently asked questions that I get about coaching & consulting.

Q: How much should I charge for coaching and consulting when first starting out?

A: When you're first starting out, I would recommend offering coaching and consulting services for free.  This will help you gain experience, testimonials, and give you a good foundation to serve you later as a coach and consultant.

After you have some experience, what you can charge will be based on what others are willing to pay.  What do others perceive the value of your coaching and consulting to be?  Do you have a proven track record and success stories?  Do you have credibility and success in your own life?  These are all factors that people look at in deciding whether you're worth hiring and working with.  If people are only willing to pay you $20/hour, then that's what you're worth.  If $100/hour, then that's what you're worth.  If $1,000/hour, then that is what you're worth.

As you gain more credibility, experience, and become more in demand and valuable, you can begin to raise your rates slowly over a period of time.

Q: How can I promote myself and get coaching clients?

A: The best way to promote yourself is through Blogging, YouTube, Podcasting, and Online Publishing.  This will establish yourself as an “expert” and “authority” online.  By providing value and helping people through content, people will be attracted to you and will then choose if they want to hire and work with you.

RECOMMENDED RESOURCES

These are some of the recommended resources for coaching and consulting:

AWeber – The most popular email opt-in service and e-mail broadcasting service.  I use AWeber for all my newsletters and mailing lists.

Blogging, YouTube & Podcasting – Many of the resources mentioned on Video 3: Blogging, YouTube, and Podcasting can be beneficial for software, to help build an audience and promote your software to.

ClickFunnels – ClickFunnels helps you build persuasive funnels and landing pages and get more leads, sales, and email opt-ins. It is easy to use and it helped me build my business.

Google Hangout – This is a free service you can use for group coaching sessions. Although I don't use it often as there are limits to it, I find it can work well if you're coaching smaller groups.

GoToWebinar – I use GoToWebinar to host my group coaching webinars and mastermind sessions where I answer my clients' questions.

Information Products – Many of the resources mentioned in Video 5: Information Products can be beneficial for putting together a website and selling your software from.

Leadpages – This is what I use to create high converting landing pages and squeeze pages for my websites to collect e-mail leads.  I also use their LeadBox feature to collect e-mail addresses and build my e-mail list on my blog.

Life Mastery Accelerator – Join my mentorship program and get my most cutting-edge strategies for accelerating success and mastering every area of your life.

Online Business Mastery Accelerator – Want to get your business to the next level? Join my business mentorship program where I share with you my latest business and marketing strategies.

Online Business Mastery Mastermind – Do you want to meet me live? Apply now for my exclusive Online Business Mastery Mastermind. Spot's are limited to a few number of people.

PayPal – This is what I use to collect and handle payments from my clients.

Skype – I use Skype to do audio and video coaching sessions with my clients all around the world.

Wufoo – This is the website I use to survey and have prospects fill out an application before working with me.  I also use it for my group coaching clients to submit their questions for me to answer.

Zoom – Zoom is the leader in modern enterprise video communications with an easy, reliable platform for video and audio conferencing, chat, and webinars. I use it in my business every week.

MORE ARTICLES & VIDEOS

Here are some additional articles and videos on coaching and consulting from the blog.

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