Which is Best for Your Business? Group Coaching or 1 on 1
We’ve heard it many times before and we’re sure it won’t be the last time. You want to burn your business to the ground and rebuild it into something new? We get it, building a business is not easy and sometimes plateaus are hit and building something new feels like the best answer.
We know there’s a ceiling that gets hit over and over again with 1:1 service providers.You’re cruising along and then one day you’ve hit an income ceiling and time ceiling and it seems like the only way out is to pivot. You’re convinced that your done-for-you service is the timesuck (and it is), but your solution is to pivot to serve more people, but less hands on. And it seems sexy at first, we get it! But we’re here to do what we do best and poke holes in your seemingly seamless shift so you can truly find the best solution for you.
Que The Group Coaching Solution (It’s NOT what you think)
The solution that has been presented to make more money with less one-on-one time is to offer group coaching. That way you can get in front of more people in less time and make more money. Sounds like a dream right? Wellll, we have thoughts on this.
But first, a story. We had a financial expert client come to us having this exact thought process. She was maxxed out on providing financial services to her clients and yet she wasn’t reaching her financial goals. So, she thought she’d create a group coaching program where she can teach financial strategy to the masses. Turns out, people don’t want to learn how to keep their financial books in line, they just want to hire a financial expert to do this FOR them. The program wasn’t successful and she went back to providing her done-for-your service (don’t worry we helped her restructure her done-for-your service into something really successful).
The moral of the story is that a group coaching solution is NOT for everyone. Think about your business and its deliverables. Do you provide a niche service that your clients just want and need from you? We’re talking subject matter experts like a bookkeeper, financial advisor, an ads team, SEO, design, copywriting, disaster planning, team building, or maybe a web developer for select projects (we could go on for days).
Clients are craving intimate and DFY (done-for-you) service and relationships. And there is a way to soar past the ceilings you’re hitting without a pivot. Just ask our client who secured over $60k in client contracts in 6 weeks without offering anything new.
If You are Feeling Overwhelmed With Your Business, Consider This
If group coaching isn’t the solution to your problems then what is? Well, it’s to simply keep your done-for-your service (we know, not the solution you were expecting). Hear us out, there are a couple of things you need to consider.
The two levers you can pull to soar past the income or time ceiling is to either charge more for your offer or offer less in your packages so you can take on more clients. You get to choose, there’s no right or wrong way to do it. But getting really clear on your offer is the key ingredient to this process.
Remember, you’re the expert in your space so lean on the deliverable you’re really good at and keep it simple. From there, know your billable rate and how many clients it’s going to take you to reach your financial goals. Be real with yourself and charge a rate that allows you to go from 12 clients per month (and barely breaking even) to 4 clients per month (and making more than before).
At Boss Project, we help our clients think through these solutions. It doesn’t matter if you work with clients on retainer or one-and-done. We help you focus on what you’ve already built (so put your torches away). We won’t let you burn down what you’ve already created but we will help you refine it, make it streamlined, help you create processes, grow ethically, and more.
Not to mention, financial success is definitely a sexy result of working with us in The Incubator. We’ve seen our clients more than double their income in a matter of weeks! However, even more importantly than that, The Incubator provides clarity on your offer and helps you build a reliable and stable business that gives you the chance to feel financially secure while actually living your life.
So, what are you waiting for? Apply to The Incubator! It takes 10 minutes and gives us the info to see if you’re ready to create a High-Touch Signature Service to soar past your income and time ceilings. Once you apply, let us know on Instagram, so we can chat and move you along the process quicker. (Excited for you!)
