The Episode: How to Choose the Right Online Training Business Model
As the pandemic continues to cause massive global changes, you might see the need to reinvent your business. Following an important safety tip ("never store your toilet wipes next to your Clorox wipes"), Jonathan, Carolina, and Ren compare and contrast the four primary business models for online training. All have benefits and limitations, and you'll probably mix and match several options in your coaching career as you figure out what works best for you.
Key Points and Time Stamps
- The thrill of surpassing two listeners
- "One to a few"—where you should start
- "One to many"—a high risk of attracting lower-quality customers
- High-ticket programs—a great option if you understand your clients
- Hybrid programs—the best for transitioning to online training
"Hybrid training is simply a more convenient way to offer a better service."
- Jonathan Goodman
"One to a few"
This model is as basic as it gets. It allows you to do things on your own schedule, but you're still trading your time for money. It's a good place to start, but not where you want to stay.
"One to many"
By training a lot of people for low fees, you risk attracting clients who demand more service than you can provide. To make it work, you need to hire coaches and charge appropriately.
These are usually transformation programs where you promise a specific benefit within a limited time frame, usually eight to 12 weeks. You can charge more because you attract clients whose problem you understand and have a history of solving.
This mix of online and in-person training allows you to tailor the program to the client, giving them what they need, when they need it.
See Jonathan’s very first post at The Champion Lifestyle, along with the comment from his mom. (Spoiler alert: She approves.)
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