While one might think the EdTech and Online Coaching industry might be getting crowded, the truth is far from what one can imagine. Its like the Industrial revolution of the 1850s. There is huge scope of entry, and there is tremendously bigger scope of getting to the top, as only a limited few, will do what it takes, to be a great coach, in India, as well as the World.
On One side, the Bujys and the Vedantu & Upgrad, Coursera & Unacademy of the world will exist as big companies in the Test preparation, Certification, K-12, Skill Development & Enterprise Solution Sphere, at the same time – we can see an unprecedented growth in INDIVIDUAL LEADERS IN ADULT EDUCATION & COACHING. The Current education system is broken, and it is clearly catering to the left brain Industrial White collar slave producers, who are losing their sheen, and relevance with each passing day. What the world now needs is a clearly new way of doing business, attaining success, creating assets, living happily & attaining spirituality, etc. , all at the same time., with a much shorter learning and execution curve. And it’s very much possible.
In my, till date small, but significant association with some of the top Online Coach of India and the world – in the make money & spirituality space – like Bob Proctor, Brian Tracy, Vick Striezeus, Jack Canfield, Blair Singer, Siddharth Rajsekar, Rajiv Talreja, Puja Puneet, Suren Jaysekaran & Others – I could find a trait of super success, which is common to all of them.
Here are the points below –
- Mind-set + Skillset + tool Set– There are two types of online coach, as we see normally. The first kinds are in the mind-set space. They are very good at teaching a particular niche of mind-set, and they excel in it. Their teaching mechanism is also very good, and they also have a great fan following and customer / client base.
The second kinds are the skillset & Tools promoters. They are the ones who are deeply connected to using the getting results or money making sphere, with the use of the right skill sets & tool sets. They are masters of couple of well-known skills in their area of expertise, and they have great knowledge of the current tools in the market, with respect to their niche or area of expertise. They teach their customers / clients – as to how to use both of these, and get fantastic results. All good here as well, nothing wrong.
But according to me, the coaches who will make it to the top in the longer run – will be the ones, who are masters of all of the three above. Having just the mind-set, and being in a good state of mind, and not getting results for their tribe, will make the game a partial win for the Coach in the long run. Also – if one is just focussing on tools, and strategies to use these tools, and changing the strategies and tools periodically, to stay ahead with each passing day, without paying attention to the mind-set behind long term success – will also, eventually fail.
So, a good mix and balance, and mastery, in the art and craft of (a) mind-set (b) skll set & (c) Tool set – will be crucial for long term success of any good coach.
- Its not about you Silly – When one gets into coaching, and specially online coaching, its observed that the Coach becomes self-obsessed. What I mean by the term is that – for the coach, its easy to get into the “me” mode. Since the coach is supposed to be a subject matter expert, students, consultants, ask lot of questions to the coach. This tends to have an effect, if not taken care of, is for the coach to become self-centred, revolve around the self-centricity aura of teaching the subject matter.
This needs to be avoided at any cost, and avoided fast. The real reason for a coach to be a coach, I believe, is to get results for his / her students. A coach might have lot of certifications, and a coach might not have enough certifications. But, in reality, both do not matter, as long as a coach is getting “the promised results” for his / her students. A coach needs to understand fast, and early on that – the game is not about “Self”, the game is about getting results for the students / customers & the tribe.
Its not about you Silly. Its about them.
- Build and Nurture a Tribe – When an Online coach starts to coach, and starts to influence lot of people, one must think from the perspective of an institution. If you look at any good physical educational institution, one would notice that, they all have a code of conduct, and standard codes of honour. They all follow the same rules and principles, which are unique to the institution. It is these codes of honour & set of principles, which sets them apart from the outside world, and other institutions also.
An online coach also has to do the same, if they aspire long term success. When you build an online tribe, and set codes of honour, and set guiding principles for them, then nurture them and help them daily, magic starts to unfold in the tribe. You will find lot of tribe members coming forward and helping others in the tribe as well. There is an overall cohesiveness, and a mastermind alliance forms, and lot of new ideas, and implementable strategies, come out of building and maintaining the tribe.
Building and maintaining a Tribe, is crucial to any good Online coach long term success.
- Develop Action Taking Habits. – Use Tribe to create more action taking time bound habits and touch points. The Online Coaching Industry has a peculiarity of a majority of the online course enrollers, not finishing the course in time, or not finishing it at all. This has its obvious flip side. When one does not go through the entire course, he / she is not inclined to take action, and in turn, do not get results. So the overall success ration of the course enrollers goes down, and it has the ripple effect of word of mouth publicity, for coach or course content, not reaching the optimum size.
Solution lies for the coach in being a fast action taker himself, and also, promoting fast action raking, in his / her tribe as well. Timely completion of small tasks by the students, need to be praised, measured & promoted. Developing early action takers as “Emerging Leaders” in the tribe has tremendous benefits as well. These emerging leaders, being fast action takers themselves, help create a ripple effect of timely action taking in the tribe. This elevates overall action points in the tribe, and hence, the overall results of the individual, and tribe as a whole, also increases. The real key here is taking action fast, and promoting & rewarding & measuring, small but consistent action takers in the group.
- Your Competitors are not your competitors – Every industry has competitors. An online coach would also find people, trying to teach same or similar things. The idea of success for an online coach in such scenario is to look at competition, from the view point of collaboration. If someone is an online coach in the make money space, and someone else is also a coach in make money space, but from YouTube as a niche – then they both are not competitors. This is the paradigm shift which is required here.
What both can do, is to collaborate with each other, try to promote the specific qualities of each other, in each other tribe, and see if both can benefit mutually from the same, and also – if respective students can also benefit from the same. What this will do, is take away the friction from the game, and make people collaborate more with each other. There are such specific skillsets, which can be mastered, and different coach can be masters of each one of them. Such collaborations, rather then competition, give rise to healthy mutually benefit growth prospects, for the coach, as well as for the tribe, and also for the industry.
- Leverage Connected Industry Experts – A coach can and always should, leverage connected industry experts, to help their tribe, and in the process, earn handsomely for self as well. Let me explain by an example.
Suppose a make money coach is teaching all the methods, and skillsets, as to how to make money online. While he is doing this – he would come across many of his / her students, who are not good at managing money. Managing money is a whole bigger science in itself. Making money is easy, investing and growing your wealth in the right manner, is a whole new animal in itself ( I know this so very well, as I have been in same situation, and have not been able to do so in the right time, More of it in another article, later).
So for this make money coach – it would make perfect sense, to get aligned to a “money management” coach, and use his services, to help his tribe, in managing money better. Likewise, the money management coach, can use the services of the make money coach , for his own tribe, and see if some of his / her students can use the services of the make money coach to earn money.
Multiple connections can be fostered, as the example above, and a good collaborative & self-sustaining business structure can be evolved, for both the coach, having tremendous benefit, for the tribe of both the coach.
- Use Influencers, to influence your Tribe the right way – an Online coach has a great potential to use the niche industry influencers, for the benefit of his tribe, in the right way. And there can be many right ways here. Following are some of the examples –
- A social media influencer of the same industry, can be used to promote the courses / coaching / consulting of the Online coach, at mutually agreed terms, for win win win of all – coach, influencers & the tribe as well.
- An industry expert can be roped in to give live sessions and impart the knowledge to the tribe from time to time, adding overall to the values by the coach to the tribe.
- An influencer can be brought in periodically, to teach a particular skillset to the tribe, for a short condensed time, in the form of a hack-a-thon, or weekend seminar for 2 to 3 days – and thus impart tremendous benefit for all concerned.
There can be many more various ways, to use the influencers. This is an important addition, to the overall income portion of the Online coach, and if done well, can set the Online course of the coach, in a different trajectory all together, with tremendous value to tribe.
- Automate & Teach Massive Automation – One of the early signs, which an Online Coach experiences, in his / her career, especially at the start of his / her career, are signs of burning out. There are live webinars of other trainers to attend, to learn new skills, weekly sales Webinars to sell own courses / coaching & consulting, create social media & long form content, family time, spare time, etc.
The best way to address this is by Automation. Automation of lots of things. Automation of Low Ticket Courses, Automation of auto responders, automation of content creation, automation of responding to customer service, etc.
A Coach must master these skills early on, and also – start to teach these as part of curriculum, to his / her tribe as well. The automation will actually give time to the coach, and students alike, time to focus and concentrate and deliver on much more important things of the business. These can be ideation, making the curriculum better, staying at par with industry, learning new skills, etc. Also – one of the best benefits of automation is, you can create one to one and / or one to many coaching, as your high ticket model, earn good money, and still, save self from getting burned out.
- Effective use of Experience, Results & Gamification, to enhance Branding – The ultimate success of any business, lies in superb customer experience. An online coach will need to start very early on, to think in terms of delivering superb customer journey & ultimately, a very good customer experience.
When a customer experiences great value in the course, and takes action, his results increase, and increase manifold. When the results gain momentum in the tribe, the Coach should try to “Gamify” the whole process, to have the results coming in again and again for his / her customers. This can happen by systematically awarding and rewarding them in a timed manner. This enhances the satisfaction quotient of the tribe, and they are more and more engaged, and also – they take pride in promoting the course and coach themselves. The overall feel good factor is very high, for using the product.
All this in turn – increases the brand value. It would pay handsomely to an online coach, to start paying attention to (a) satisfaction enhancement (b) better results & (C) Gamification of the whole activity, to enhance the brand value of self, as well as the product.
- Making Alliances large then life for Tribe – Every coach gets into alliance making at one of his / her coaching stages. The key is to make the alliances larger than life, for your tribe, with respect to getting faster results.
The Online industry is not like the normal education system. The learning curve here is not like the typical schooling and college degree, of 15 to 17 years. The learning curve here is only 2 to 4 years at max. After that – its polishing the diamond, if we can put it that way.
When one gets into alliances, a coach must look at getting into the right kind of alliance, which ensures faster results for his / her students, through that alliance, at a much rapid rate, after the student, has reached a certain level of height, in his learning and execution journey already. This way – the student would be tempted to invest in the alliance, and also, get much faster results, an as a result – get better ROI. This is win / win / win – for all three – coach / alliance partner / student.
- Low Ticket Happiness – Every coach, initially, falls prey to something called “Low ticket Happiness”. When the coach is starting out – he / she is tempted to price his starting courses at low cost. This is required in the initial phase of the coach, as the coach himself is not so popular, and also, his course content is also not that mature. But, as the coach starts to gsin momentum, and makes his course better, it is advisable for the coach, to get out faster of the “Low Ticket happiness” syndrome.
The Low ticket courses can be the entry courses for the coach – but the ultimate earning and success for any coach would come from the “High Ticket” coaching / consulting / training & speaking. One must master the skill of raising the bar – for his course content, as well as with respect to the course fee. This is not just to charge higher, but to overall elevate the journey of self, as well as the student. Higher price can only be sustained by much higher value, and thus, the coach will be delivering much higher value, and as a result – the student will also be tremendously benefitted.
- Change Self – You are clearly visible to others – My mentor Blair Singer clearly explains one thing, and that is – “Change self”. What you are, is clearly visible to others. When a coach undergoes transformation, it becomes clearly visible to others around him, even though others may not immediately sound it off to him / her. The “Self Transformation”, elevates the coach to a much higher degree, and this is what sets MIM – “Magic in Motion”.
This is one of the main principles of any good coach. Change self-first. Get rid of the inhibitions, the insecurities that you might have, as a good coach, and the world will see them in you. This is a big thing, and happens with the right kind of coaching & training for self, under a great mentor like Blair Singer, and happens over a period of time, as per the blessedness of your soul.
A good coach must put enough effort, to go through this whole process of self change.
In Summation – Below are 12 secret ingredients, according to me, which have the potential to 10X an Online Coach’ Income, if followed and perfected.
- Mind-set + Skillset
- Its not about you Silly.
- Build & Nurture a tribe.
- Develop Action Taking Habits. Use Tribe to create more action taking time bound touch points.
- Your Competitors are not your competitors
- Leverage your Connected industry experts
- Use Influencers to Influence your Tribe the right way.
- Automate & Teach Massive Automation.
- Experience, Results, Gamification & Ultimate Branding
- Build Alliances along the way. Make the alliances larger than life for your tribe
- Get out of the Game of Low ticket Happiness.
- Change self – you are clearly visible to others.
MY TOP 3 TAKE AWAYS OF THE ARTICLE –
- Online coaching is not for the Self Centred. Its not about the coach. The industry is all about getting results for your customer / student / client / group / institution.
- Build healthy alliances with your so called Competitors, Industry Experts & Influencers – a coach need to get out of the minimalist mind-set. There is room for all, if you can see it. Do not try to do it alone.
- Change self – Grow as a person – the world will see it in you.