Profit For Coaches

As a coach and the creator of the Profit for Coaches podcast, I believe it’s part of my role to check the other coaching programs. So, I invest time and money into things advertised as coaching programs, so my clients don’t have to—and, of course, to find and educate myself in other tools that I could recommend to the people I work with.  And recently, I find myself being targeted by a kind of advertising for coaching programs. They’re the ads that say that the foundation of your coaching practice needs to be an online course, or, if you’re a coach, you are at a disadvantage if you’re not selling online courses—and it’s really hacking me off. In this episode, I discuss how creating and selling online courses can add a revenue stream to your coaching practice and explain why it shouldn’t be the primary foundation of your business. I reveal why the coaching industry sucks and how coaches who coach coaches tend to mislead beginners. I also describe why many people don’t know what coaches are and outline the common symptoms of a stressed, six-figure coach. “A course is a great tool to make more money. However, if all you have is a course, if the focus of your business is selling courses, you are not a coach—you’re an information product provider.” - Jos Willard This week on Profit for Coaches: ●     Why the coaching industry sucks●     Why do people not know who coaches are or what they do●     Online courses and why they can’t be the foundation of your coaching practice●     The classic signs and symptoms of a stressed, six-figure coach●     The FREE profitable practice scorecard! Our Favorite Quotes: ●     “October, November, December, and the first half of January are the big selling seasons for coaches.” - Jos Willard●     “If you’re a coach and you’ve made it to the six-figure mark but remain inconsistent, odds are you’re stressed out or working hard to get clients—and end up over-delivering.” - Jos Willard●     “If all you're doing is selling DIY video, email, or whatever online courses, you’re not a coach, and the people telling you that you’ll build a six-figure coaching business on courses are lying.” - Jos Willard Related Episode: ●     The Coaching Industry Sucks (https://www.profitforcoaches.com/profitforcoachespodcast/001-willard) Helping Coaches Increase Profits Thanks for tuning into this week’s episode of Profit for Coaches. Love the podcast? Head over to www.lovethepodcast.com/Profitforcoaches (http://www.lovethepodcast.com/Profitforcoaches) to leave a review! Don’t forget to subscribe wherever you get your podcasts, so you never miss an episode. Apple Podcasts (https://podcasts.apple.com/us/podcast/profit-for-coaches/id1534581854) | TuneIn (https://tunein.com/radio/Profit-For-Coaches-p1377173/?topicId=158181127) | GooglePlay (https://podcasts.google.com/feed/aHR0cHM6Ly9wcm9maXRmb3Jjb2FjaGVzLmxpYnN5bi5jb20vcnNz) | Stitcher (https://www.stitcher.com/s?fid=582759&refid=stpr) | Spotify (https://open.spotify.com/show/0LzXBjVpajdOhriH6omlj9) Be sure to share your favorite episodes on social media to help me reach more great coaches and visionaries like you.

When it comes to your coaching business—and any business, for that matter—it doesn’t matter how much you’re making. It’s all about how much you’re keeping and how much goes into your pockets at the end of the day. Too many coaches go broke despite having excess money coming into their businesses. As soon as their coaching practice hits a monthly sales target, their expenses catch up. Why does this happen, and how can you prevent it from occurring in your coaching business? In this episode, I discuss how good cash flow management prevents expenses from catching up to a coaching practice’s sales increase. I explore the process of eliminating all expenses in your business and turning them into investments. I also outline different kinds of ROIs you can expect in making efficient investments and highlight how having a profitable coaching practice doesn’t need to be about hustling and grinding. “When you have cash flow management that puts a hard cap on the money you’re allowed to spend on operating expenses, you see that massive jump in your income without a massive spike in expenses.” - Jos Willard This week on Profit for Coaches: ●     The curious case of expenses catching up to sales targets●     Creating unicorn companies and the Silicon Valley model of business●     How better cash flow management can help you increase and stabilize your profit●     Turning all your business expenses into intentional investments●     The FREE profitable practice scorecard! Resources Mentioned: ●     Book: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz Our Favorite Quotes: ●     “$200k to $300k a year is not a bad place to be. But if you’re killing yourself to do it, then why? Just, why?” - Jos Willard●     “There’s no reason that a coaching business is at at least 50% profit.” - Jos Willard●     “If we need to get more out of our business by buying something, we need to figure out how to get more creative.” - Jos Willard Helping Coaches Increase Profits Thanks for tuning into this week’s episode of Profit for Coaches. Love the podcast? Head over to www.lovethepodcast.com/Profitforcoaches (http://www.lovethepodcast.com/Profitforcoaches) to leave a review! Don’t forget to subscribe wherever you get your podcasts, so you never miss an episode. Apple Podcasts (https://podcasts.apple.com/us/podcast/profit-for-coaches/id1534581854) | TuneIn (https://tunein.com/radio/Profit-For-Coaches-p1377173/?topicId=158181127) | GooglePlay (https://podcasts.google.com/feed/aHR0cHM6Ly9wcm9maXRmb3Jjb2FjaGVzLmxpYnN5bi5jb20vcnNz) | Stitcher (https://www.stitcher.com/s?fid=582759&refid=stpr) | Spotify (https://open.spotify.com/show/0LzXBjVpajdOhriH6omlj9) Be sure to share your favorite episodes on social media to help me reach more great coaches and visionaries like you. Join me on

Mark J. Silverman is an executive leadership coach and speaker. He is the author of the #1 Bestselling Books Only 10s: Using Distraction to Get the Right Things Done, Unconventional Wisdom: Stories Beyond the Mind to Awaken the Heart, O...

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 WillardThis 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 (https://jos.as.me/10KSS)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 WillardHelping Coaches Increase ProfitsThanks for tuning into this week’s episode of Profit for Coaches. Love the podcast? Head over to www.lovethepodcast.com/Profitforcoaches (http://www.lovethepodcast.com/Profitforcoaches) to leave a review! Don’t forget to subscribe wherever you get your podcasts so you never miss an episode.Apple Podcasts (https://podcasts.apple.com/us/podcast/profit-for-coaches/id1534581854) | TuneIn (https://tunein.com/radio/Profit-For-Coaches-p1377173/?topicId=158181127) | GooglePlay (https://podcasts.google.com/feed/aHR0cHM6Ly9wcm9maXRmb3Jjb2FjaGVzLmxpYnN5bi5jb20vcnNz) |

Different coaching gurus will often tell you various kinds of numbers you need to watch out for in your coaching business. They’ll tell you to measure your engagement stats, follower counts, comments, chat starts, cost per click, cost per lead, or cost per view. But if the money that comes into your coaching business still isn’t consistent—despite keeping track of those numbers—you might not be looking at the most important metric needed to turn your business into a profitable coaching practice.In this episode, I reveal one key metric that many coaches don’t track and explain how tracking it can increase your revenue. I explain the importance of making sales offers and highlight why the sales offers you make still matter even when they get rejected. I also identify different ways to make sales offers and underscore some action steps to take if you have a low closing rate on your sales offers.“Make a sales offer every day. Give somebody the opportunity to say ‘yes’ to you or— if you want to help yourself psychologically—the chance to say ‘no’ to you once a day.” - Jos WillardThis week on Profit for Coaches:●      The value of increasing the number of sales offers that you make every month●      The different ways to make sales offers and their related closing rates●      Why having your sales offer rejected still matters to your business●      What you need to do when you have a low sales closing rate●      The FREE profitable practice scorecard!Resources Mentioned:●      Book: The Prosperous Coach: Increase Income and Impact for You and Your Clients by Steve Chandler and Rich LitvinOur Favorite Quotes:●      “Selling through sales conversations has something to do with knowing your target market, having a clear, consistent offer, and ensuring that you’re only talking to the right people.” - Jos Willard●      “You can build the biggest, most engaged audience and the coolest personal or corporate brand on the planet, but if you don’t allow people to say ‘yes’ to you, you’re going to go broke.” - Jos Willard●      “If you’re not making sales offers, there’s no way to tell whether or not you have the clarity you need to know what else to fix in your client acquisition process.” - Jos WillardHelping Coaches Increase Profits Thanks for tuning into this week’s episode of Profit for Coaches. Love the podcast? Head over to www.lovethepodcast.com/Profitforcoaches (http://www.lovethepodcast.com/Profitforcoaches) to leave a review! Don’t forget to subscribe wherever you get your podcasts so you never miss an episode.Apple Podcasts (https://podcasts.apple.com/us/podcast/profit-for-coaches/id1534581854) | TuneIn (https://tunein.com/radio/Profit-For-Coaches-p1377173/?topicId=158181127) | GooglePlay (https://podcasts.google.com/feed/aHR0cHM6Ly9wcm9maXRmb3Jjb2FjaGVzLmxpYnN5bi5jb20vcnNz) | Stitcher (https://www.stitcher.com/s?fid=582759&refid=stpr) | Spotify (https://open.spotify.com/show/0LzXBjVpajdOhriH6omlj9) Be sure to share your favorite episodes on social media to help me reach more great coaches and visionaries, like you.Join me on

As coaches, we’re often told that we’re just one click away from everything we desire. We hear from coaching gurus that we’re one funnel, one lead magnet, or one course away from having a profitable coaching practice. So, it’s no surprise that we find ourselves chasing one tool after another. Here’s the thing: I grew up in Alaska, where we fish a lot. And if there’s anything I learned about fishing, it’s that the best way to catch and kill a fish is by using bright, flashy, shiny objects to lure them.In this episode, I discuss Shiny Object Syndrome and what you can do to prevent it from killing your coaching practice. I explain the link between psychology and marketing and how some social media platforms like Facebook are deliberately designed to be addictive. I also describe modern society’s tendency to prefer quick fixes over understanding the root cause of problems and underscore why focusing on four fundamental principles is key to earning $200,000 a year in your coaching practice.“Get rid of those shiny objects. Focus on the fundamentals and the success principles that you need to apply to your practice.” - Jos WillardThis week on Profit for Coaches:●      Why it’s easy for everyone to get distracted by shiny objects in business and life●      The reason news and media outlets focus on negative stories●      The relationship between marketing and psychology●      The importance of focusing on the fundamentals of business success●      The FREE profitable practice scorecard!Our Favorite Quotes:●      “We have this attitude in our society where we ask to be given a solution to immediate pain instead of going deep into the fundamental problems.” - Jos Willard●      “As coaches, we are constantly bombarded with the ‘Get this result! Solve this pain point!’ messaging but what’s actually being offered is just another shiny object.” - Jos Willard●      “The biggest, most effective decision you can make when building your coaching practice is to focus on the key principles of success, get someone to help you meet those principles, and hit those goals repeatedly.” - Jos WillardHelping Coaches Increase Profits Thanks for tuning into this week’s episode of Profit for Coaches. Love the podcast? Head over to www.lovethepodcast.com/Profitforcoaches (http://www.lovethepodcast.com/Profitforcoaches) to leave a review! Don’t forget to subscribe wherever you get your podcasts so you never miss an episode.Apple Podcasts (https://podcasts.apple.com/us/podcast/profit-for-coaches/id1534581854) | TuneIn (https://tunein.com/radio/Profit-For-Coaches-p1377173/?topicId=158181127) | GooglePlay (https://podcasts.google.com/feed/aHR0cHM6Ly9wcm9maXRmb3Jjb2FjaGVzLmxpYnN5bi5jb20vcnNz) | Stitcher (https://www.stitcher.com/s?fid=582759&refid=stpr) | Spotify (https://open.spotify.com/show/0LzXBjVpajdOhriH6omlj9) Be sure to share your favorite episodes on social media to help me reach more great coaches and visionaries, like you.Join me on Facebook (https://www.facebook.com/realcoachjos/), Twitter (https://twitter.com/joswillard?lang=en), Instagram (https://www.instagram.com/jos_willard/), and LinkedIn (https://www.linkedin.com/in/joswillard/).

PFC106 - Stop SpinningDo you think that making $120,000 to $150,000 a year as a coach is too much? I used to think that myself. Through the years, I’ve learned that earning six figures in your coaching business doesn’t have to be difficult—and many coaches are actually close to earning six figures annually, charging clients at least $1,500 per month. Unfortunately, several factors prevent many coaches from realizing that having a profitable coaching practice is easy and well within their reach. In this episode, I discuss the top three reasons many coaches struggle to make $120,000 to $150,000 a year and how close every coach actually is to getting there. I reveal what they fail to teach in many coaching certification or training programs. I also underscore the power of working directly with a coach and highlight the role of mindset in developing a profitable coaching business.“You can absolutely be making up to $20,000 a month within the next six to 12 months—or even faster. You just need someone to show you the next steps, and you need to believe that it’s doable.” - Jos WillardThis week on Profit for Coaches:* The downside of coaching certification and training programs* The mindset needed to charge clients $1,500 a month as a coach* Why you need to stop chasing free webinars or advice* The advantage of working one-on-one with a coach over buying a DIY program* The FREE profitable practice scorecard!Our Favorite Quotes:* “If you don’t see that level of value in paying $1,500 a month to work with a coach to help you be successful in your career, relationships, and health, it’ll be hard for other people to see you being worth that much investment.” - Jos Willard* “There’s no one-size-fits-all way for everybody. That’s why working with a coach who’s going to interact with you—rather than just buying a DIY program–-is a better way to go.” - Jos Willard* “You’re better off working with somebody who has read all the books, taken all the programs, done all the digging, and knows how to apply those things in varying situations.” - Jos WillardHelping Coaches Increase ProfitsThanks for tuning into this week’s episode of Profit for Coaches. Love the podcast? Head over to www.lovethepodcast.com/Profitforcoaches (http://www.lovethepodcast.com/Profitforcoaches) to leave a review! Don’t forget to subscribe wherever you get your podcasts so you never miss an episode.Apple Podcasts (https://podcasts.apple.com/us/podcast/profit-for-coaches/id1534581854) | TuneIn (https://tunein.com/radio/Profit-For-Coaches-p1377173/?topicId=158181127) | GooglePlay (https://podcasts.google.com/feed/aHR0cHM6Ly9wcm9maXRmb3Jjb2FjaGVzLmxpYnN5bi5jb20vcnNz) | Stitcher (https://www.stitcher.com/s?fid=582759&refid=stpr) | Spotify (https://open.spotify.com/show/0LzXBjVpajdOhriH6omlj9)Be sure to share your favorite episodes on social media to help me reach more great coaches and visionaries, like you.Join me on

Kenny Dusseault is a strength and conditioning coach and the Founder of Coach Dusseault Conditioning. Coach Kenny began coaching high-performance athletes when he was sixteen and has since been dedicated to helping athletes create the best version of themselves. Before founding Coach Dusseault Coaching, Kenny served as a strength and conditioning coach in several other facilities, including the Athlete Factory and HEO Performance Centre. Through his Four Coaching Keys—open communication, accountability, constant evolution, and collaboration—Kenny provides a human-centered approach to strength and conditioning that helps every athlete reach their true potential and extend their careers for as long as possible. In addition to his coaching, Kenny hosts the Elite Development Podcast, where he and his guests share advice on building a career in high-performance sports.Kenny joins me today to describe his journey as a strength and conditioning coach and how he founded his own elite performance facility during the COVID-19 pandemic. He explains what it takes to be a high-performing professional athlete. He also shares the secret behind a successful coaching career and underscores the value of going beyond training programs and sharing care for athletes.“It’s not about my program or about following it to the letter—it’s about us working together. What you’ll get is somebody who’s truly invested in putting the best version of you into your competition.” - Kenny DusseaultThis week on Profit for Coaches:●      The difference between a coach and a mentor and why elite performers tend to be lousy coaches●      How Kenny helps his clients become better athletes●      Dealing with impostor syndrome and how self-awareness helped Kenny build a successful career as a coach●      Niching down and the importance of considering the people you want to serve●      The FREE profitable practice scorecard!Our Favorite Quotes:●      “If you want success as an athlete, the number one thing you need is consistency. Nobody’s going to hand you a professional sports contract if you’re not working hard for it.” - Kenny Dusseault●      “Not every client works well with every coach. So, if a client leaves, think that it’s not the right client for you, then move on to the next one.” - Kenny Dusseault●      “You can’t teach someone how to do something if you’ve never had to learn it.” - Kenny DusseaultConnect with Kenny Dusseault:●      Coach Dusseault (https://coachdusseault.com/)●      Elite Development Podcast (https://www.elitedevelopmentpodcast.ca/)●      Kenny Dusseault on LinkedIn (https://www.linkedin.com/in/kenny-dusseault-430888132/)●      Kenny Dusseault on Instagram (https://www.instagram.com/coach_dusseault/)●      Kenny Dusseault on Facebook (https://www.facebook.com/coach.dusseault/?modal=admin_todo_tour)●      Kenny Dusseault on Twitter (https://twitter.com/coachdusseault)Helping Coaches Increase Profits Thanks for tuning into this week’s episode of Profit for Coaches. Love the podcast? Head over to www.lovethepodcast.com/Profitforcoaches (http://www.lovethepodcast.com/Profitforcoaches) to leave a review! Don’t forget to subscribe wherever you get your podcasts so you never miss an episode.

Picture this: you need someone to be part of your team, but instead of building a job description for that employee and planning what they’re going to do in your coaching business, you just grab the first person you see outside of your office, offer a signing bonus, then hire them. It’s a pretty good way to get your coaching practice out of business in no time, right?  Unfortunately, almost every coach or consultant does this with their most important worker. In this episode, I discuss how almost every business owner on the planet sets up their most important employee to be as lazy and useless as possible—and what you can do to avoid it. I also describe the worst way to hire or recruit employees and explain why mismanaging your money means mismanaging your attention and time. “Don’t leave your money to chance. Give every dollar that comes into your business a job to do before that dollar comes into your business.” - Jos Willard This week on Profit for Coaches: ●     The worst employee that every business owner has to deal with●     Why you should write a job description●     The primary drivers of consultants and coaches●     The importance of managing the cash flow in your business●     The FREE profitable practice scorecard! Our Favorite Quotes: ●     “Just like how work expands to eat all the white space in your calendar, expenses expand to eat any extra money you have sitting in the bank.” - Jos Willard●     “As coaches, one of our primary drivers is to help our clients—to make a transformational difference for the people we’re meant to serve.” - Jos Willard●     “We need to build our business in such a way that it supports us, our lifestyle, and our ability to deliver transformation to our clients.” - Jos Willard Helping Coaches Increase Profits Thanks for tuning into this week’s episode of Profit for Coaches. Love the podcast? Head over to www.lovethepodcast.com/Profitforcoaches (http://www.lovethepodcast.com/Profitforcoaches) to leave a review! Don’t forget to subscribe wherever you get your podcasts so you never miss an episode. Apple Podcasts (https://podcasts.apple.com/us/podcast/profit-for-coaches/id1534581854) | TuneIn (https://tunein.com/radio/Profit-For-Coaches-p1377173/?topicId=158181127) | GooglePlay (https://podcasts.google.com/feed/aHR0cHM6Ly9wcm9maXRmb3Jjb2FjaGVzLmxpYnN5bi5jb20vcnNz) | Stitcher (https://www.stitcher.com/s?fid=582759&refid=stpr) | Spotify (https://open.spotify.com/show/0LzXBjVpajdOhriH6omlj9) Be sure to share your favorite episodes on social media to help me reach more great coaches and visionaries, like you. Join me on Facebook (https://www.facebook.com/realcoachjos/), Twitter (https://twitter.com/joswillard?lang=en), Instagram (https://www.instagram.com/jos_willard/), and LinkedIn (https://www.linkedin.com/in/joswillard/). For more exclusive content and information, visit our website (https://www.profitforcoaches.com/) and grab your free profitable practice scorecard.

Sophie Higgins is a course creator and business coach specializing in helping experts, coaches, and consultants develop meaningful and profitable online courses. Sophie has over two decades of experience in the education and learning industry. Before starting her journey as an entrepreneur and business coach, Sophie served as the CEO and Principal of the Faaborg Gymnasium and as the Head of Department at the Nyborg Gymnasium. In addition to her work as a coach, Sophie serves as the National Director of Online Education at H6FIT Inc., a wellness and fitness platform.  Sophie joins us today to share her philosophy on creating successful online courses. She outlines how coaches can transition from working with clients to developing online courses. She discusses learning management systems and lists the coaching niches that have the highest demand for online courses. Sophie also highlights the best time to create online courses to enhance your business and underscores the importance of having an online course launch strategy. “Be clear on what makes you unique as a transformational guide, then match that with your audience and what they’re trying to achieve.” - Sophie Higgins This week on Profit for Coaches: ●     Sophie’s four-step process for creating online courses●     Challenges to watch for when creating online courses for the first time●     Conducting market research for your online courses●     What it means to have an excellent client-market fit●     The FREE profitable practice scorecard! Resources Mentioned: ●     Thinkific (https://www.thinkific.com/) Our Favorite Quotes: ●     “Get started on what you’re good at and what you’re passionate about: that’s the fuel that’ll make you the great person to follow.” - Sophie Higgins●     “The obstacle of perfectionism leads to procrastination. Just go ahead and do it; consider it as your testing process.” - Sophie Higgins●     “You can have a high-quality course, but if nobody knows about it you won’t have any students. So having a launch strategy is key.” - Sophie Higgins Connect with Sophie Higgins: ●     Sophie Higgins Website (https://sophiehhiggins.com/)●     Sophie Higgins on LinkedIn (https://www.linkedin.com/in/sophiehhiggins/)●     Sophie Higgins on Twitter (https://sophiehhiggins.com/online-course-creation-services/?share=twitter&nb=1)●     Sophie Higgins on Facebook (https://www.facebook.com/SophieHigginsCourseCreationSupport/) Helping Coaches Increase Profits Thanks for tuning into this week’s episode of Profit for Coaches. Love the podcast? Head over to www.lovethepodcast.com/Profitforcoaches (http://www.lovethepodcast.com/Profitforcoaches) to leave a review! Don’t forget to subscribe wherever you get your podcasts so you never miss an episode. Apple Podcasts (https://podcasts.apple.com/us/podcast/profit-for-coaches/id1534581854) | TuneIn (https://tunein.com/radio/Profit-For-Coaches-p1377173/?topicId=158181127) | GooglePlay (https://podcasts.google.com/feed/aHR0cHM6Ly9wcm9maXRmb3Jjb2FjaGVzLmxpYnN5bi5jb20vcnNz) |