Why A Subscription Program is Must-Have Offering for Coaches

Coaches are an awesome set of folks. Wherever I meet a coach -whether they’re goals, life, business, writing, or fill-in-the-blank coach- I’m often impressed by their innate sense of empathy and their ability to connect with their clients at a deeper level.

The Problem with Most Coaching Business Models

The problem that many coaches experience is the constraints of one-on-one coaching. This, no matter how creatively you slice it, is a still the trading-time-for-money business model. That means there is little room for leveraging their time and experience.

Another issue that coaches face is the direct bottom-line impact of non-coaching hours. In most cases, unless a coach is engaged in a face-to-face or video-to-video interaction with their clients, they aren’t earning. This impacts their bottom line in a negative manner.

Many coaches address these issue by writing a book. But books have limited lives and need to the updated and then resold. There is also the non-coaching time that’s required to write, publish, market, and sell the book.

There is nothing wrong with writing a book, but it’s often a limited revenue solution; A book might cost around $12 while a short-term, problem-oriented subscription can easily be priced at around $99 or more.

While a book is often considered a static entity by the buyer, a subscription is often perceived as a fresh and more relevant way to engage with the author/coach.

Consulting with Clients Is Essential, But It’s Also Limiting

Consulting with clients keeps a coach sharp and encourages them to continually refine their approach to specific problems. And as great as is to consult with clients, coaches are human and they can’t do it every waking hour. They need a way to leverage their time to still generate revenues but in a way that a book can’t. A subscription service that targets one issue and sets out a series of solutions to try can be just what a coach needs to boost their bottom line.

How a Subscription Program Can Help

A short-term subscription program can address both of these issues and provide long-term leverage. A coach that takes the time to create and package a subset of their knowledge around a common problem faced by their clients, can offer otherwise non-face-to-face clients a premium subscription that helps them solve the problem.

This can simultaneously help both the coach and the client in two ways:

  1. By leveraging their expertise and experience around a specific problem, the coach can also drive earnings from those clients that might not engage them otherwise. The client, who might not ever engage in face-to-face coaching, can gain insight into their problem and try out various solutions.
  2. The subscription program becomes a valuable marketing tool. It introduces the coach -in print or video- to the client and will help convert some subscribers to face-to-face clients.

It’s a win-win solution for both the coach and the client.

Get Started Today

In the Subscription Mastermind Training Manual, I explore not only how subscription programs can benefit both the business owner and the client or customer, but how to identify and package appropriate areas of your knowledge and experience.

If you’re a coach and you’re searching for a solution to the trading-time-for-money business model, I encourage you to check it out now.

Deliver Coaching, Courses, Book Chapters, and Inspiration with an Online Subscription Product

Monthly subscription products surround us: Netflix, Hulu, Apple Music, Spotify, Amazon Prime, DropBox, iCloud, Dollar Shave Club…the list is endless.

Did you spot one of your own subscriptions on that list?

I spotted six of my own!

what-is-amazon-primeWe pay for these services because they provide us with value, enjoyment, and convenience. So why aren’t more of us also participating in this powerful and profitable communication model?

If you’re in a digital business of any kind and you’re not producing a premium subscription product, chances are that you’re missing out on an opportunity for recurring revenue and a new customer base.

There is an application for this for just about any type of business:

  • Authors can release serial chapters to their readers
  • Consultants and coaches can drip online sessions to their clients
  • Online businesses can distribute premium materials
  • Chefs can provide recipes and tips for culinary aspirants
  • Guitar teachers can drip videos on chord progressions and techniques
  • Construction schedules can send training updates in P6 to students
  • Retail store owners can provide an advance notification club for upcoming sales and promotions and link it private shopping hours
  • I could go on and on…

Nearly every field of endeavor can establish and distribute a simple email subscription product. It doesn’t take much thought to understand the powerful revenue generation potential for such a product.

The bedrock principle comes down to the following simple formula:

833p x 25d x 12m = $249,900

The explanation and application of this formula are contained in my training manual available here. To fully understand the formula and its application, click the link to learn about this power resource.

The power of the subscription model is waiting for you.

3 Reasons Why Subscription Programs are a Great Way to Start an Online Business

Premium subscription products are the most direct way to start an online business with instant revenue streams.

In this post, we’re going to examine three reasons why they are your most direct route to a sustainable online business. 

  • Reason 1: You don’t have to quit your existing job
  • Reason 2: You’re already an expert in the material
  • Reason 3: You already know people who’d want to learn from you

Reason 1: You don’t have to quit your existing job

I really should’ve said, you don’t have to quit your existing job…unless you want to. So many people get up every day and go to a job they absolutely hate. I used to be one of those people. I was in a field that I tolerated at best, and when I was laid off I was absolutely elated. Even though I had a teenage son at home, I was finally freed to chose what I wanted to do.

A monthly subscription product, based on what you already know doesn’t require you to learn a new career. Sure, packaging that specific knowledge is an unknown to you right now, but I have solutions for that. Once your knowledge is packaged into a series of relatable and teachable concepts, you have a resource that can be leveraged many times over and marketed (shared) with as many new prospects as you think you can handle. This translates into monthly revenue like you’ve most likely never experienced. 

Imagine having 100 people join your new subscription program over a six month period. If you priced it at $24/month, that comes to a new monthly income of $2,400 in addition to what you already make at your job.

If you price it at $35/month and 200 people opted in, your new monthly revenue stream would be $7,000. Not too shabby.

Reason 2: You’re already an expert in the material

When most newcomers to Subscription Mastermind think about this they, quite frankly, aren’t convinced it applies to them. They think about their day job and how they’d don’t see their expertise there. That’s natural. But for now, let’s shift your thinking to a hobby, skills, or something that your friends and family associate with you. Choose something that doesn’t have anything to do with your current profession. 

colunm2If you enrolled in my free course, Paid Subscription Profits, you know how to start listing your areas of knowledge and expertise.

If I were to be the guinea pig, I’d look at my list (see the photo here – click to enlarge it) and choose single-parenting. 

Because I was a single dad with full custody of my youngest son from ages 6-18, I know a thing or two about single-parenting.

I could easily package this information into a monthly subscription program targeted at single-dads with custody of their kids: widowers, divorced dads, dads left in the lurch, etc.

I would list the main challenges (too many to list here) and then write about how I overcame them, who and when I asked for help, how I weaved in a social life for myself, why I finally decided that dating wasn’t something I could do as a single dad, why I focused my life on raising him to adulthood, etc. 

This example shows you how you may not think you’re an expert now, but simply by living through the experiences in your life, you can package those experiences into a related and teachable model.

Remember, you only have to be one step ahead of those you teach to be considered an expert.

Reason 3: You already know people who’d want to learn from you

This is especially true when you choose something outside of your career path as your first subscription program. As I just shared in the photo above, I could choose several of the items on my list as potential subscription programs. I’m betting that you could as well. 

Because you have lived through whatever life experience you identified, you already know people with this experience in common. In my case with single-parenting, they include educational administrators, psychologists, support group members, family, friends, business associates.

Now, before you respond, “I’m not selling to family and friends, ” consider this. 

These are people to who know of my experience and come in contact with those who also share my experience. As such, they may not be potential subscribers, but they are an excellent source of referrals to my new subscription program.

I’m not asking you to sell your family and friends on your subscription product like a weight-loss product hawker (I was one once, so I know how awkward that can be). Instead, I’m asking to you enlarge your perspective on where potential subscribers might be lurking right now even before you start creating a program. 

Helping people overcome barriers is key

A good subscription program helps people overcome a challenge or acquire a skill they need to overcome one.  Yours will be no different.

In my Subscription Launch Secrets Coaching Program I teach people, just like you, the required skills that helps them overcome the challenge of thinking they have nothing of value to offer, packaging that information into a shareable resource, and teaching them to how to create an online business that could literally transform their lives like it has mine.

Your subscription program will take what you already know and refine it into a shareable resource that empowers others to reach new levels of skill and satisfaction.

What could be a better job than that!