026 - Struggle - How Can I Build A Thriving Business If I Can Coach On Almost Anything?

Recently, I hosted an "Ask Me Anything" session on the topic of "The Business of Coaching" and Loubna Zarrou asked the following question:

"I have been coaching many years but one struggle is how to turn it into a business when you can coach on almost anything."

The advice I gave in this episode:

First, I shared one of my favorite Steven Chandler quotes about the topic of "choosing a niche" for your coaching.

Next, I provided the following five pieces of advice:

1. Determine how much money that you need to generate on a monthly basis to thrive financially from your full-time self-employed coaching business.
2. Do the math....
   • Can you find 1 client to pay 100% of your monthly amount within 15 to 20 hours a week of work?
   • Can you find 2 clients to pay 50% of your monthly amount within 15 to 20 hours a week of work?
   • Can you find 4 clients to pay 25% of your monthly amount within 15 to 20 hours a week of work?
   • Can you find 10 clients to pay 10% of your monthly amount within 15 to 20 hours a week of work?
3. Determine exact ideal client for that offer and go validate it. However, while searching for that exact fit, don’t ignore all the other clients who would fit within that price ranged product.
4. Commit to generating all your monthly income needs by working with as few clients as possible that would require no more than 15 to 20 hours a week of your time to serve.
5. Once booked solid and consistently generating that revenue on a monthly basis, start adding other products and services.

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