About ten years ago, when I was becoming a coach, Thomas J Leonard, the founder of the coaching profession said...
Someday, everyone will have a coach.Given the power that great coaching has to transform lives, that was an awe-inspiring vision.
Thomas also said at that time, that in order for everyone to have a coach, coaches would have to get creative about how they deliver coaching to clients, because originally, coaching was just for the rich and famous and that's how it was priced, with most clients paying between $250 - $1000 per month for private coaching.
Coaching is not just for the rich and famous anymore...
Coaching went "mainstream" years ago and today, most people know or at least think they know what a life coach or business coach is. (No one has asked me what sport I coach in years!) That makes it much easier to market to folks who are neither rich nor famous.
But one-to-one coaching is still pretty pricey.
So to bring quality coaching to the ever-growing coaching market, coaches are discovering more and better ways to leverage the economy of scale that exists for a service that is in very high demand. In other words, coaches are sharing coaching in innovative ways to higher numbers of people, who each pay less for the coaching they receive.
The first tier down from personal coaching is small group coaching, in which a small group of clients, say, 2 - 10 per group, meet with a coach a few times per month, and each client pays a smaller fee ($100-300 per month). The benefits of group coaching are similar to private coaching, because what the clients lose in personal attention from the coach, they make up with the extra value and synergy that's created by the group, itself.
Group coaching requires skills that are not needed in personal coaching, such making sure each client gets value and no one hogs the calls or hides out in a corner. For that reason, School of Coaching Mastery has its own Group Coaching training for our advanced students. Stay tuned for more on that.
A new form of group coaching that leverages economy of scale to an even greater level, is Compass Coaching. Compass was designed to bring low cost life coaching to people who want personal development, but who either can't or won't pay hundreds of dollars per month for it.
Unfortunately, economy of scale often means the client doesn't get the personal attention needed to really make change. That's why most people don't get lasting benefits from reading self-help books or attending workshops, which are also priced for the masses.
That's where Compass differs. Clients get a choice of "self-guided" online coaching via MP3's and workbooks, which brings passive income to the coach, or they can have large group coaching (10-30 clients), where they do get personal attention. The group coaching is priced incredibly low, $39-59 per month, because the passive income from the self-guided coaching makes up the income for the coach.
Long story short: Clients save a lot of money and coaches still earn plenty of money. Win-win.
It took me a while to see the value in Compass, because I'm not in favor of watering down the power of coaching, just to make it cheap. However, I'm highly in favor of bringing good, affordable coaching to virtually everyone on the planet. Compass has one of the best business models for doing that. I started to get that when I watched Compass CEO, Kim Fulcher, talk about her vision for Compass.
If you'd like to attend a live webinar with Kim Fulcher and hear how Compass can provide you with excellent large-group coaching, or how it can help you earn excellent passive income, Click below to register online and attend the live webinar with Kim Fulcher on Wednesday March 18th.