I’m a fan of coaches not overcomplicating their business model.
I like The KISS principle (Keep It Simple, Stupid)
Yet I see coaches being drawn to adding unnecessary layers and layers onto their businesses, and doing things that even if they’re successful will create a lot of extra work and bring the wrong kinds of clients/customers into their worlds.
For example, I had a call with a client last week. She’s a great coach with big goals for her business. But as we talked, she started to tell me about plans to add cheap offerings ($10/month) for “additional revenue”.
I strongly advised her against doing this and went on a bit of a rant about the freeple and cheaple it would attract (plus the unnecessary headaches it would create). I also worried that it would push back what she was already planning to launch.
I know there are people who make the $10/month model work. But the vast majority can’t, and get stuck in a big pit of quicksand.
It might seem like a good idea to introduce a bunch of low-priced offerings. You may be thinking; “Hey, if I get 100 people paying me 10 bucks a month there’s $1000 of recurring revenue!”).
But in my experience, those $10/month offerings can be a lot harder to sell than you think. It’s a lot easier and takes less time to sell $1000 worth of coaching to one person than to sell 100 people on $10/month.
I’m not sure why coaches are so adamant about putting more work on their plate. Maybe they think a simple sales funnel and business structure looks boring, and there must be more to it than that?
The coaching model that I teach clients is simple and doesn’t rely on cobbling together a bunch of tiny payments.
If you want my help setting up this boring, vanilla model that works, check this out (the next group opens soon):