5 different ways to make 6-figures in your coaching business

 

Want to know the 5 different ways to make 6-figures in your coaching business? Hitting 6-figures is spoken a lot in the online coaching world, but there is more than one way to hit 6-figures in your business. I love helping coaches to build businesses that work for them, as well as their clients and choosing the way you want to work is a key part of that. Keep on reading to find out 5 different ways to make 6-figures in your coaching business.

 

This page may include affiliate links, which means that if you choose to make a purchase, I may earn a commission. This commission comes at no additional cost to you. 

 

5 DIFFERENT WAYS TO MAKE 6-FIGURES IN YOUR COACHING BUSINESS

 

Before delving into the 5 different ways to make 6-figures in your coaching business I want to make a few things clear. Firstly, this is how you can make 6-figures in your coaching business. I’ll be sharing models that will mean your business can make 6-figures but there is a big difference between having a business model that allows you to make 6-figures in your coaching business and actually making 6-figures. Secondly, this is 6-figures in revenue or income – not profit.

 

One of the best things about running your own business and being your own boss is being able to choose the way in which you work. Having a financial goal of generating 6-figures or more in your business doesn’t mean you are then limited to only one way of working. There are multiple ways of working and it is important to really think about how you like the work. The more you enjoy your business the easier it will be for it to be successful over the long term.

 

5 DIFFERENT WAYS TO MAKE 6-FIGURES IN YOUR COACHING BUSINESS

 

 

1. One-to-one coaching packages

Most coaches start their coaching business by offering 1-to-1 coaching sessions. If you did a training qualification you’ll have most likely had some practice clients who you worked with for free whilst training and then upon qualifying you started working with paying clients. Some coaches will offer single sessions, but most coaches will move on to selling packages of coaching sessions where clients sign up to work to work with you over a designated amount of time.

 

In the online space there can be a lot of negativity around 1-to-1 coaching because it doesn’t allow you to scale your business. However, there are plenty of coaches who only offer 1-to-1 coaching for the entire time of running their business and are very happy with that.

 

If you love working with people on a one-to-one basis, but desire to hit the six-figure mark here are some examples of how that could happen.

 

Example 1: Financial Coach 

Has a 12-week package, with weekly client calls, that costs £3,000 in total

Can work with 9 clients simultaneously which means 3 clients per day on 3 days of the week

Has the potential to work with 36 clients across the year and make £108.000

 

Example 2: Business Coach 

Has a 6-month package, with 3 calls per month, that costs £1,000 per month or £5,000 if paid upfront

Can work with 10 clients simultaneously which means 2 clients per day on 5 days of the week

Has the potential to wok with 20 clients across the year and make between £100,000 and £120,000

 

Example 3: Mindset Coach

Has a year-long package, with fortnightly calls, that costs £500 per month or £5,000 if paid upfront

Can work with 24 clients simultaneously which means 2 clients in the morning 6 days per week

Has the potential to work with 24 clients across the year and make between £120,000 and £144,000

 

Now you might have looked at the prices charged in the examples above and thinking you could never charge that much. If you are someone who isn’t comfortable charging above £1,000 to a person then you could make still make over £100,000 but you’d have to do something like this

 

Example 4: Career Coach

Has an 8-week package, with weekly calls, that costs £1,000

Can work with up to 20 clients simultaneously which means 4 clients 5 days per week

Has the potential to make £120,000

 

Now I definitely wouldn’t recommend working with 20 clients per week, but I’ve known coaches who have done it so this is an example to show what is possible, but definitely not what I would recommend.

 

From the examples above you can see that it is totally possible to offer one-to-one or private coaching and still achieve 6-figures in your business. However, this business model is limited. You are directly trading time for money and there will become a point where you can’t trade any more time. This might mean you decide to look at other business models where you move from a one-to-one to a one-to-many way of working. You can find out more about how you can move from one-to-one to one-to-many here, and I’ll discuss below the other one-to-many options you have as a coach.

 

2. Intensive one-day sessions

If you love working one-to-one as a coach then in addition to offering coaching packages you might decide to offer one-day sessions. Rather than coaching people over an extended period of time this way of working with clients is intense. These types of sessions can give you the opportunity to work with a client in person, but they can be delivered online too. They are a great option if the work you do with clients goes deep and often you might find yourself at the end of a one or two-hour session wishing that you didn’t have to stop as you’ve just got to the good point.

 

In my business, I love offering Strategy Days because it gives business owners the space and time, to put their CEO hat on and properly work on their business rather than in their business. They offer an opportunity to truly focus without distractions about supporting their clients or fulfilling other commitments.

 

I personally started offering Strategy Days when I had a full-time marketing job as it was an easy way for me to work. I’d book the day off work and then deliver a Strategy Day. When I went full-time in my business I kept Strategy Days as I had realised how powerful they were for my clients. That extended period of time helped them to think bigger and be able to go into more detail with their planning.

 

You might want to offer one-off day sessions because you don’t want the commitment of working with people for a long period of time or it might allow you to be able to work even though your ability to work is irregular due to other commitments.

 

If you decide to go down the intensive one-day session route there are a number of ways you can make 6-figures in your coaching business.

 

Example 5: Career Change Coach

Charges £1,000

Can run two one-day sessions per week for 50 weeks of the year

Can make £100,000

 

Example 6: Money Coach

Charges £1,500

Can run six one-day sessions per month (max of 2 per week on 3 weeks of the month)

Can make £108,000

 

Example 7: Sales Coach

Charges £2,500

Runs a max of 5 per month for 11 months of the year (has August off work entirely)

Can make £137,500

 

From the examples above you can see how with just one-day sessions you can make 6-figures in your coaching business in one year. And the fact is many coaches who offer one-day sessions run them alongside other offerings. They will have either a one-to-one or group coaching programme and then they position their one-day sessions as VIP sessions. These are limited and as a result, it is easier to charge a premium price.

 

LOVE THE SOUND OF HAVING A DAY WHERE YOU CAN FOCUS ON BEING A CEO AND PLANNING HOW TO TURN YOUR 6-FIGURE GOAL INTO A REALITY. A Strategy Day is a great way for you to spend uninterrupted focused time on the future of your business. Choosing what you want to offer is just the beginning of achieving 6-figures and I’ll guide you through what other decisions and actions need to happen next to get the ball moving and you getting closer to achieving that 6-figure goal. To discuss your specific needs and find out about how I can help you book a free introduction call.

 

3: Group programme

 

If you are like most coaches you’ll have started off with one-to-one coaching, but you might prefer working in a group context. Not only does one-to-one coaching mean there is a direct correlation between the amount of time you work and the money you are able to earn, but from an energetic perspective, it can be VERY draining. If you have a framework or process that you take your one-to-one clients through it may be that you can do that with a whole group.

 

Group programmes will usually have a very clear promise so that people understand exactly what they are signing up for and it will have a clear duration on the programme.

 

Example 8: Money mindset coach

3-month reset your inner money thermostat so you can earn and save more money.

£333 per month or £999 when paid upfront

Max of 50 people at one time

Runs 3 times per year (has the whole 6-week holidays off)

One cohort can bring in £49,950

Three cohorts across the year can bring in £149,850

 

Example 9: Fitness Coach

4-month get ready to run the London marathon

£150 per month or £500 upfront

No upper limit to group size

Runs once a year

As long as 200 people signed up and pay upfront they’d achieve £100,000. Maximum potential is unlimited

(For context over 40,000 people run the London Marathon so 200 only represents 0.005%).

 

As you can see from these examples when you offer group coaching in your business it becomes very easy to hit 6-figures and you can also easily hit multiple 6-figures. When creating these examples I also wanted to show that you have some choices. You get to choose how many times per year you run a group programme and you choose how big or small the size is.

 

4. Mastermind

Another popular way to make 6-figures in a coaching business is by running your own mastermind. In the online coaching world, masterminds are often positioned as an elite/premium service. They will typically last for at least 6 months and there will be requirements you have to fit in order to apply to join. Usually, a mastermind will have a cap to ensure it stays a fairly intimate experience that justifies the premium price point.

 

Example 10: Online Business Coach

Year-long mastermind for solopreneurs who want to hit six-figures in the next year

£1,000 per month or £11,000 when paid upfront

Max of 15 people

One cohort per year

Revenue potential of £165,000 to £180,000

 

Example 11: Leadership Coach

6-month mastermind for women leaders in technology who want to raise their profile in a male-dominated industry

£750 per month or £4,000 if paid upfront

Max of 20 people

Runs 2 cohorts per year

Revenue potential of £160,00 to £180,000

 

With these examples, I’ve been pretty reserved with the example prices. Masterminds can easily allow you to scale to having a multiple 6-figure business or even 7-figure business. Recently I came across a business mentor who had a 6-month mastermind that was $15,000 upfront and a year-long mastermind that was $35,000. Below I’ll share what that could enable you to earn.

 

Example 12: Business Mentor 

 

6-month mastermind

$15,000

Always open for new clients to enrol

Max of 20 people

Potential of $600,000 per year

 

Year-long mastermind

$35,000

Always open for new clients to enrol

Max of 20 people

Potential of $700,000 per year

 

Combined potential = $1.3million

 

 

There is no denying that masterminds can allow you to make 6-figures in your coaching business, and as shown by the last example they can allow you to even hit 7-figures. However, just because you can earn that much money from the models doesn’t mean you can launch a mastermind tomorrow and make this amount of money. To run a mastermind that charges that amount your business will need to have a brand that aligns with those prices and you’ll need to have an audience with people who are willing to pay that amount of money to work with your business.

 

5. Membership

If you can’t imagine ever being able to charge the amount mentioned in the mastermind example above that doesn’t mean you still can’t make big money in your business. Another way you can earn 6-figures in your coaching business is through a membership. Whereas the aim of a mastermind is on getting a small number of people to pay a high price point, a membership is about getting a large number of people for a small amount of money. Memberships have become increasingly popular in recent years because they are a way of generating monthly recurring revenue (MRR). This means that as a business owner you can be more confident and predict what your business will generate over the coming months,

 

Example 13: Content Coach

£49 per month

Unlimited

A minimum of 171 members for the whole year is needed to hit the 6-figures mark ( £100,548)

 

Example 14: Personal Development Coach

£19 per month

Unlimited

A minimum of 439 members for the whole year is needed to hit the 6-figures mark ( £100,092)

 

And if you aren’t interested in just scrapping past the 6-figure mark but want to be soaring to multiple figures then memberships can definitely do that for you. A certain financial educator was quoted as once having 25,000 members in her membership, which today charges $49.99 per month.

 

Example 15: Financial Educator

$49.99 per month

25,000 members

Potential of  $14,997,000 per year

 

I checked the numbers three times as even I couldn’t believe a membership could result in a multii-million revenue stream.

 

Obviously in the same way you can’t just expect to open a mastermind and people spend tens of thousands of dollars on you, you can expect to open a membership and have tens of thousands of members sign up. But these examples are to show you what is possible.

 

That’s it. You now know the 5 different ways you can make 6-figures in your coaching business. 

My intention in sharing the different ways you can make 6-figures as coach is for you to see that your financial goal doesn’t necessarily mean there is only one way to operate your business. If your goal is to make an early six-figure number £100 – £150k then you can use any of the 5 different ways possible. If you want to go beyond that then you’ll probably need to have a membership, mastermind or group programme, but you still get the choice.

 

Each different way has pros and cons. What you choose will impact the amount of time you have to work with someone, how intensely you work with your clients, the size of the audience you need to build, the level of brand you’ll need and so much more.

 

Also, don’t forget that you are limited to only offering one thing in your business. There are many coaches who offer some form of one-to-one coaching and then have a membership, mastermind or group programme. Using two different ways in your coaching business can be a great way to still do some one-to-one coaching, but know you have the potential to scale to the 6-figures, multi-6-figures and even 7-figures.

 

In the comments, I would love to hear what your biggest aha was and if you know which way you are going to choose to use your business I’d love to hear that too.

 

WANT TO GROW A THRIVING ONLINE COACHING BUSINESS THAT ALLOWS YOU TO LIVE YOUR DREAM LIFE?  If you are aiming to hit 6-figures then you are already thinking bigger than the average coach and I love that. I love to support ambitious coaches to be able to build a business that truly supports their lifestyle goals. So whether that means 6-figures whilst travelling the world, only working 25 per week or anything else I’d love to help you.   I’m a Chartered Marketer that specialises in supporting coaches to grow their business strategically but without selling their soul. So if you are ready to take your coaching business to the next level by expanding your business model and income streams I’m here to help. To find out more about my services here. And to discuss your precise needs book a free, no-obligation, introduction call to discuss your business here.