How to Create a Signature Premium Coaching Program
Wanted to address the question about how to create your signature coaching program. Today’s episode is all about the 5 ingredients to creating your signature coaching program. You want to start with the end in mind and figure out what it is you’re going to sell, so we might as well talk about it. Learn these 5 steps and get your package created!
Creating and offering your signature offer not only lets you get known for that offer, it also positions your business for profit. No more employee mindset and trading dollars for hours. You can literally double your income with a signature package and on this episode I tell you how to create one.
In this episode you’ll learn:
- The 5 steps to creating your signature coaching program
- How long should your coaching program be
- How you should price your program
- The bonuses you can add to sweeten the deal for your client
- Why you should include a Welcome packet
Check out these highlights:
- Step 1. Identify the total transformation that you provide your client [02:11]
- Step 2. Determine the length of your coaching program [03:49]
- Step 3. Have a road map for your program and set milestones for your client [04:36]
- Step 4. Set your pricing based on the transformation [06:44]
- Step 5. Add a bonus to your signature program [11:01]
- Bonus Step 6. Include a Welcome packet [13:40]
What’s the Total Transformation You Deliver?
Your program will be the bridge to where your clients are to where they rather be. So the first step is define the transformation you provide your clients.
What does that look like because this is what you’re going to deliver in your coaching program? You’ve identified their number one pain point that they have that’s urgent, that’s keeping them up at night and that’s just expensive for them or their family and is costing them time and it’s costing them money. They’re there and they want to be from A to Z and so your program is going to identify and help them get to Z.
Before you can craft this beautiful signature coaching program, you need to understand what it is the transformation that you are giving them because we’re trying to move away from single sessions to where you’re basically trading dollars for hours and in a sense, you’re still doing that but the way we’re going to price it, you’re getting more bang for your buck.
Once you know the end result, where they want to be, what they want to have, how they want to feel, you need to determine how long it is going to take them to get there or how long do you need to teach someone to get there. So, that leads us to the next step.
How Long Should Your Signature Program Be?
Just because somebody has a six-month program doesn’t mean you should also.
Yes, you want to do a little market research and see what others are teaching, how they’re teaching and how long they’re teaching it, but ideally the length of your coaching program boils down to how long is it going to take you to get your clients results.
So, that might be 30 days, that might be six weeks, ten weeks, six months, a year. That’s really up to you and how confident and your skills and your strategies that you can get people fast results or it may take a little more time.
How to Ensure You and Your Client Stay the Course?
Create a road map. In order to assist in the creation of your client’s road map, they will need to complete your Welcome Package. It’s okay and I actually advise that if you are a service-based business owner and you consult or do coaching and there’s this private one-on-one element then yes, you should start off the phone call with “What do you want to talk about today?” However, you should still have a sense of what the client wants to achieve so that you can help keep them on track.
In the beginning, get clear on where it is you want to be, where you want to go and then I divided it up between how long we’re going to work together, let’s say six months. I might break that into monthly goals so that we have some idea what it is we need to do and what we need to complete and accomplish every month.
If you are struggling with confidence like “I don’t know if I can get my people results” having a structure is just going to help everyone involved so that you know you are on the right track to whatever goal they have.
How Much Should You Charge in Your Signature Coaching Program?
Your pricing has nothing to do with how many sessions there are. Let’s say you want to charge $100 an hour and you have 12 sessions that’s three months. Your 3-month program is $1200. You don’t price based on the hourly rate, you price based on how much you want + your own financial goals (how many clients you want) + pricing on the transformation.
Small Rant about Non-billable Hours
However, I would say that pricing by the hour does come in handle to ensure you are NOT undercharging. And if you do feel more comfortable with pricing by the hour than by all means, please include non-billable hours. Non-billable hours is the time spend researching information and preparing for the call. Trust me, I can tell who has taken time to learn about my business prior to a discovery call or strategy session and those who have not.
Please do not take the information from an intake form (application) and think that's all you need to do... That's like applying for a professional job at a major corporation, getting the interview and not researching anything about the business. I know you know better than that.
But if that is you it's not your fault... that's how most are being taught. Send them to an application, read the application and then hop on the call. NO! Ok rant over...
So to pick up from where I was... It’s not that there’s unlimited email support, it’s not that there’s 12 sessions or 18 sessions, it’s not that there’s whatever. What’s that transformation? It’s not about losing 10 lbs. It’s about having more energy because of the weight loss and now they can play tag with their kids and have more quality time. It’s not about creating a healthy eating habit it’s about giving them life.
Because if they continue on that fast-food road, they were going to shave off ten years of their life. But your coaching program, It's life changing. They are going to live an extra ten years healthy, happy, not in pain, not missing out on life.
If you’re going to be charging five, ten, fifteen, twenty thousand dollars, you’re like “Oh my gosh, who’s going to pay that?” It’s far beyond I’m just going to teach you how to set up a website and get sales. Basically, what you can do with this is you can change your family history, you can get out of debt, you can make sure– are your aging parents you can set your parents up to where they can have an in-home care or I can build you a house and you can live with us in a wing somewhere.
Should you include a bonus?
You definitely want to have some types of bonus to kind of sweeten the spot in your signature program and it could be that they only get the bonus if they pay in full. They only get the bonus if they pay in a certain time period, like “This is our promotional period, if you sign up for my one-on-one coaching.”
Bonuses are perfect for overcoming objections. Actually that's typically the sole purpose of a bonus. So pick your bonuses specifically for overcoming the top 3-5 major objections you hear about people signing up for your coaching. Or if you're new... research the top 3-5 objections that people have about signing up to other people's coaching programs.
If you find like, “Well, I’ve already created my package, I’m not really sure what I could use as a bonus, or you don’t really feel like trying to figure out what to use for a bonus”, look into the program that you already have and see what you can take out. Remember that the best bonus(es) helps overcome objection(s).
Below is an example of a completed coaching offer...
There you have it. Now that you have all the basics, you can quickly put your coaching program together. As you obtain more and more clients you will be able to tweak your program as you see fit. You may even raise your prices which I highly recommend.
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