Coach Builder Part 2—Why Every Coach Should Create a Menu of Products to Grow Their Business

Business Made Simple with Donald Miller

Business Made Simple

Entrepreneurship, Businessmadesimple, Marketing, 474622, Storybrand, Brand, Bms, Business, Story, Bmsu, Storytelling

4.8 • 2K Ratings

🗓️ 13 February 2024

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Taking the leap from a stable career to start a coaching business is a monumental decision that can be fraught with uncertainty. The biggest hurdle is usually the fear of financial instability. This worry keeps thousands of potential coaches on the sidelines, trapped in careers that don't fulfill their passion or potential. So how do you navigate the career transition without compromising your ability to provide for yourself and your loved ones?

In the second part of our Coach Builder limited series, host Donald Miller dives into the essential first step for anyone looking to start or grow their coaching business. He explores the concept of creating a "menu of products" – a strategic approach to offering your coaching services in a way that addresses specific client needs and problems. By breaking down the process of product creation, from identifying client problems to developing targeted solutions, Don gives you a blueprint to build a profitable coaching business model. You’ll also get tips on how to design a suite of coaching products that not only solve real-world problems but also position you as the go-to expert in your niche. Listen in and learn how to overcome the financial uncertainties of coaching and build a thriving business that gives you freedom, control, and stable relationships with clients.

Pre-order Coach Builder, Donald Miller's new book, at CoachBuilderBook.com/Podcast.

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0:00.0	Listen, clients do not want to buy anything from you if it's vague, if they don't know what it is.
0:07.0	In fact, you cannot name a single business out there, not easily at least, it doesn't have a menu of products that you can buy from. You
0:14.8	walk into a mattress store and there's a menu of different mattresses. You walk into a restaurant.
0:20.3	There's obviously a menu. Everywhere you go, but coaches don't tend to create a menu of products.
0:25.2	They just sell retainer coaching and for that reason I think they do about 10% of the business that they could do.
0:31.0	In other words, they could do 90% more business if you created a menu of products.
0:34.4	So by the end of this episode, you will have a clear understanding of how exactly to decide
0:39.2	premium price coaching products that offer extreme value and that clients want to pay for and
0:44.8	actually do pay for.
0:46.4	With that, welcome to Coach Builder, a Business Made Simple Podcast's limited series teaching
0:50.8	you exactly how to turn your skills and expertise into a successful coaching
0:54.2	business. It is all based on my new book Coach Builder, which releases on March 12th. I am your
0:59.5	host Donald Miller. Today we are diving into step one of the Coach Builder framework
1:04.8	that is creating a menu of products you consult with clients. Hey everybody I'm sitting here with our podcast producer Bobby Richards.
1:23.0	Bobby?
1:23.7	Yes.
1:24.3	What do you think would be the scariest part
1:28.0	of leaving your career and starting a coaching business?
1:31.3	How to make money?
1:32.3	Yeah, how are you gonna feed your family? How am I gonna feed make money? Yeah, how are you going to feed your family?
1:33.4	How am I going to feed my family? Yeah, Bobby, I'd say that's the number one thing.
1:37.1	And there's tens and tens and tens of thousands, hundreds of thousands of people who, three years ago,
	...

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