I have been a coach for over 25 years. And in those years I’ve worked with over 10,000 clients and helped them generate tens of millions of dollars. But, the thing is, not everything is about that topline revenue. A healthy, thriving coaching practice is about profitability—what you get to keep at the end of the day. After all, good coaches, to be able to continue helping the people they’re meant to serve, need to be profitable. But being profitable doesn’t have to mean hard, arduous work over many years. Almost any coach can add $10,000 dollars of profit per month to their bottomline in 90 days or less. 

In this episode, I discuss how coaching businesses at different stages of maturity can add $10,000 a month to their monthly profit. I outline the three stages of a coaching practice’s maturity, their challenges, and how to manage them. I explain why you shouldn't make a sales offer to a prospect who isn’t a perfect fit and share a few ideas on changing your pricing model. I also discuss some key points you need to think about when considering whether to scale or fine-tune your practice and explain why coaching businesses need to stay at zero expenses—and how.

“Focus on cash flow management and understand that your practice needs to have no expenses - every dollar your business puts out needs to be an investment.” - Jos Willard

This week on Profit for Coaches:

●      The coaching practice’s different stages or phases of maturity

●      The developing stage of a coaching practice, its traits, and how it can add $10,000 per month in profit

●      The characteristics of coaching businesses at the growing stage

●      How to make your coaching practice’s systems more efficient

●      The fine-tuning or scaling stage of a coaching business

●      The FREE profitable practice scorecard!

Resources Mentioned:

●      Book: What Got You Here Won’t Get You There by Marshall Goldsmith

●      The 10K Strategy Session

Our Favorite Quotes:

●      “To stay in business and help the people they’re meant to serve, coaches need to be profitable.” - Jos Willard

●      “You don’t make an offer whenever you talk to somebody. Never offer to work with someone if they’re not a fit—it’s always going to turn out badly.” - Jos Willard

●      “When you’re looking at systems, track the time you spend on tasks, your clients’ wins and where and when they accomplish them, and the bottlenecks that slow prospects down.” - Jos Willard

Helping Coaches Increase Profits

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