In today’s digital era, online business coaching is making a mark in the coaching industry. Are you planning to be one?
Do you want to reach people all over the world? Are you planning to start a virtual coaching business?
With my coaching business growing at such a pace, it is tough to connect to so many people.
What can work in such a scenario?
Of course, you cannot communicate with so many people at the same time.
Hence, to upgrade your business at a global level, the internet is the tool.
You may still have various questions while entering the virtual world.
Can you earn out of it?
Is it possible to market your coaching business with the online platform?
It is indeed possible and more than that you feel it is convenient too.
Do you want to know more about it?
Let me take you to various queries regarding online coaching which people ask me.
What is an online business coaching?
To develop the mindset of people, you as a coach need to give something different. Face to face coaching has some challenges. How to overcome it?
An online business coach is the one who understands this part.
You can run the business from anywhere.
It is a simple concept that has started after advancement in social media and technology.
In online business coaching, you can use video conferencing and other useful online apps to guide people through the internet.
Do you like working all hours of the day? Don’t you feel it becomes quite hectic?
Thus, to overcome such issues online coaching is created. You can get more clients in less time.
You put all your skills on an online platform.
Many top coaches have adopted this tool. You also can be a part of it.
What I love about online business coaching is that the investment which you do will reap great results later.
Above all, there is zero overhead cost with a good amount of flexibility.
I will share with you an example of Bari Tessler. Today she has gained a lot of success as a coach. But after she gave birth to a child, she turned her business into virtual coaching. What was the result? She has achieved more success after that.
In the case of online business coaching, coaches are their own bosses. You can have your own set of clients.
Don’t you feel it is a great opportunity to connect with people all over the globe?
What more you are still able to create an impact.
I would say now gone are the days when you used to meet people daily.
Now is the time for online coaching. Here you can have a personal touch with your clients.
That takes you to the next question.
How online business coaching is different from normal business coaching?
For time-sensitive people, online business coaching is much helpful. The normal business coach requires scheduling the appointment at a particular place.
Do you think you have so much time?
Can you meet every client in person?
In such a scenario, remote option or virtual coaching turn fruitful.
I keep recording my sessions and share them with clients. They can listen or view it anytime they want. What can be more delightful to the client than this?
Apart from that, the coaching process becomes quick. A normal business coach has to wait for the client’s response. On the other hand, online coaching is simple and less time-consuming. You will get to know the needs of the client on the spot.
Do you think people forming start-ups will have so much time for face to face coaching? Thus, through online business coaching, you can save a lot of time and energy from your clients.
Top skills essential to start an online business coaching
Have you understood the benefits of online business coaching?
Now you need to adopt certain skills to grow it.
I cannot provide any magic pill for it. But some basic attributes are there which you need to focus on.
Skills to understand the technology
As the coaching style suggests, you need to have a technical background.
How to have an easy to use website or apps? Can these help your clients to get in touch with you? What online tools are required to communicate with clients?
What are the ways in which you can create blogs?
How to bring in more people to visit your website?
For all the questions above and more, you need to have technical skills. You may take the help of the third party but knowledge of implementing it is required.
Also, in online business coaching, the coach is aware of NLP- neuro-linguistic programming. With this skill, the coach is capable to empower business mindset in an enormous way.
Using various online apps turn your online business coaching into success. It is important to take care of the client’s time and virtual coaching helps in it.
Setting goals for your online business coaching
You need to have a focused approach. So that when a client is taking help for his or her business, you will know how to take them towards the goals.
In online business coaching, you will need to build such programs which are goal-based.
Listening skill is vital for online business coaching
Are you able to listen to the client’s needs while coaching online? Do you think you can be a great coach without it? I am not saying you should listen to every word. But with that understand what the client has not said.
You can have levels of listening techniques.
I have gone through various levels of listening. In virtual coaching, it is very much required. Why? This is because you are not present where the client is.
So what as a coach I should do?
The first level is when I am giving full attention to the client. Next is I am understanding his or her issues. Third is along with listening I am putting myself in their shoes. Lastly, it is the generative listening where I am also asking questions to clients.
Creating rapport with your online business coaching clients
Do you think people open up fast? No, and it would become tougher for people in the case of virtual coaching. Hence, it is essential to build a good rapport with your clients. They will feel relaxed. I have tried to maintain this rapport throughout my coaching career.
For instance, you can ask challenging questions to your clients once they trust you. As an online business coach, you can put up questions like why the business is facing loss for long? How much profit business has it made?
For example, it is the holiday season, many coaches are not available. You can set yourself apart. How? Keep your business alive during such times.
The best part is the client will get everything online. Hence, you do not have to remain available all the time.
If you want to know about the qualities of successful coaches then check out Top qualities of a successful coach.
Who are your prospective clients for your online business coaching?
If you are still reading this, it means you have made your mind to start an online business coaching venture.
Hence, the next step for you is to find out what kind of people are looking for online coaching.
Who can become your clients?
Business Executives or business owners
Do they have enough time to meet you in person? No. Hence, such people are in constant need of coaching or can become your clients. Watching your online videos, they can manage the team.
For instance, Harry, an executive manager has a project to complete. He does not have enough time. But approaching you online, things will become simple for him.
These include owners of businesses from various industries and any size. Corporates often look for business coaches for forming departments in the company or improving the performance.
Do you feel they may need your service as and when required? For a regular purpose, you cannot meet them every time. Hence, the best option for such clients is online coaching.
But to gain such clients you need to have a bigger business along with updated skills. Are you having so much experience?
Start-ups need online business coaching
They are the ones who struggle the most. Hence, they reach out to local coaches. How your online coaching business can help them? It is a known fact that such businesses have fewer funds.
With virtual coaching, they can save their time and money to do other work. It is a win-win situation for both parties.
Do you need certification to start online business coaching?
You may feel you already know, why to get a certificate?
But don’t you want people to avail of your online services soon? If yes, certification can give you great results. Also, you will learn how to develop an online business. Thus, while dealing with business executives online, it can help.
Do you want people to trust your online coaching?
How can they do so?
Your experience will make them trust you.
My experiences have always helped me to improve my coaching business.
Gaining credibility is a must in an online coaching business. This is because people do not easily rely on online businesses.
People feel a comfort level with the coach who is highly experienced.
Often the client gives priority to people or businesses who are experienced.
So, certification may seem mandatory but it is not so. You can start your online business coaching venture today.
How much can you earn from your online business coaching?
I know you will spend on setting up your coaching business. So back of the mind you will have questions like:
How much will you earn?
Will the expenses you have done, give you good revenue?
So, let us get right into the facts and figures.
You can charge $75 to $500 per hour for your online business coaching. This is mainly for small scale businesses. Other factors that determine the earnings are your experience, certification level and what packages you are providing. Apart from that, below are some pricing options:
Hourly rates: $75-$500
Monthly sessions: $300-$2000
Online coaching packages: $1000-$2500
If your client needs, just one or two sessions monthly options are fine. But I have seen, this rarely happens. Why?
You may find when any corporates approach a coach, they may look for a long-term relationship. They need you to take them through the journey of achieving the goals of the business.
Online business coaching packages means your client is going to stay for long with you.
With a package of 2-4 coaching sessions a month you can provide discounts to the client. But this also means you can get a greater number of clients.
Why it makes sense to opt for monthly pricing or packaging options?
People look for solutions. If your package is focusing on a particular solution, people will surely buy it.
I have seen various coaches who structure their coaching prices:
There is a business coach who serves small or family-owned businesses. For them, the rate is lower in starting. But, with virtual coaching, business grows. Thus, the coach increases the rate to $150 to $200 per hour. This depends upon your service and other skills.
If you are an experienced coach you can start at $400/hr up to $2,000 a month. There are some membership offers of $1500 for creating kick-off programs.
You can add additional packages in it, for example, reviewing documents, solving queries on email and such.
You can have an initial consultation free of cost or at a discounted rate.
Later you can suggest the client’s hourly price or package of meetings through video conference using Skype.
An online business coach can earn $2000 every month per client. There are weekly or fortnightly sessions. It runs for an hour in the form of a webinar. Here you can suggest the client’s different strategies that are relevant to their business.
Business-specific online coaching sessions are created. Here you can earn even more.
You may ask what is the key to earning the rate which you are looking for?
I have seen the major factor is an experience. But there are other things too like how well you do the online branding of your business.
Plan up the financials and soon you will have earnings of your dream.
Do you want to research more on coaching packages and products? Then the article- How To Create And Sell World-Class Coaching Products is worth a read.
Top strategies to get coaching clients fast for your online business coaching
Some online coaches have more than 200 clients and still go on holiday.
How do they do this?
Is this possible? What are their strategies?
I have penned down a few strategies that can be followed to develop an online business coaching.
I would say to get clients you do not have to tie up with your laptop. Here is what you should follow:
Upload the videos of your online business coaching
Online business coaching will work if you upload your videos with tips and tricks. Uploading your videos on the online platform increases credibility. You will get noticed.
People would refer you more as they know who is coaching. Virtual coaching is all about building trust. Hence, you need to build it through effective videos.
FAQ section on your online page
There are often questions that corporates and start-ups will have.
How much manpower will a business need? What are the ways to overcome competition?
Thus, in such a scenario FAQ page will turn helpful. It is like a quick guide where all common questions are answered.
What if you have 50 clients asking you questions at once?
Can you answer them all at once?
During this time, your FAQs will help. You will have not to attend every client on chat. Interactions would become meaningful. Also, you will handle more clients. People will understand that you are taking care of their time and money.
Still, you can share your contact if at any point the client gets stuck. This is because more you communicate more people will come to you.
In an online coaching business, you are not directly meeting clients. How people will trust you while seeing your business online? They will look for ratings or reviews. This is one of the fastest ways to get more clients.
For example, when you are ordering food online, you check the reviews. Isn’t it?
The same happens in virtual coaching.
Your client will look for how many people have given you good reviews.
Be ready with customized online business coaching programs
You may have created incredible online business coaching programs. Have they given positive results? If yes upload them. This way you will not have to build the program every time.
I have clients who are ready to buy my programs. All I do is make the program which I have and customize it a bit according to client’s need. Thus, I do not build a new one.
Online business coaches work in an automated manner. To achieve it you should have all your programs built in advance.
Use Facebook Ads and Google AdWords
What these help you with?
You can target a specific group. It is working since long now. You are paying to send your ad to people who are your prospective clients. How you are benefitting? Money is saved as you do not have to send it to a large number of people.
More than that, good quality leads are generated. This you can turn into your paying clients.
Prepare an elevator pitch for your online business coaching
For how much time elevator ride stays?
20 to 30 seconds. Right?
Thus, you need to create a pitch about your service. It should be shared on all online platforms. You can highlight the points which can grab attention.
How does it work?
Your clients will ask you questions. It can be through message or chat box, comment section or through phone calls.
Here, you can turn them into clients. For that do not give lame answers. Rather, create statements that make them ask you how you did that?
Give them surprises. After knowing that they would want to approach you more.
Create flagship programs
You can have a suite of software which can teach clients everything about the business world. For this, I can share an example.
Suppose a client has bought your online product. Once they finish it, they will need more. At this point, you can give them a suite option.
Make such programs or suite unique. Even if it is not highly-priced, it should have some expert tutorials. Hence, your prospects will turn into clients and later loyal clients.
By now you know, online business coaching is a fulfilling experience. If done in the right way it can reap huge benefits. Don’t wait and get started. Live your passion and achieve your dreams by being the next online business coach.
Frequently Asked Questions (FAQs)
What is online business coaching?
Business coaching is the process of advising and guiding a business owner to help them become more profitable and improve their daily operations. An online business coach is just the same as an in-person coach with the exception that they can serve a much larger number of clients. An online business coaching service is the process of advising and guiding a business owner to help them become more profitable and improve their daily operations.
What are the steps to start a home based online coaching business?
The best way to start a home-based online coaching business is by finding your niche. While it can be difficult to find your niche in this competitive market, it is certainly achievable. Some of the steps include finding a name for your business, building your online presence, setting up Google Business, and making sure you have the best website possible.
What are the benefits of online business coaching?
The benefits of online business coaching are numerous. Online business coaching gives you access to experts who can guide you through your startup process. This can be especially helpful if you are still trying to figure out how to create a product or strategy that is sure to sell.
Why do you need a business coach?
Business coaches are integral for entrepreneurs who are struggling to manage their business. If you are new to running a company, don’t know where to start with marketing your product, need help managing your time, or want to know how to start franchising, a business coach can be there to help you make better decisions while avoiding costly mistakes.
How can a business coach help you achieve success?
A business coach is a resource for guidance to help an individual or team achieve success. These specialists can provide insight on methods of improving productivity, cutting costs, and more. There are many coaches to help you on your way to success.
How to find the right business coach?
In order to find the right business coach, you must identify what your needs are and what your focus will be for this person. For example, if you plan on using your business coach for managing people and sales, you may not want to hire a coach with a background in sales. It’s important to know why you need a business coach, and what you plan to do with them before you can find the best one for your needs.