High ticket coaching has been a booming industry, but recently, it has faced significant challenges and a decline in trust. In this blog, we’ll explore practical strategies to not only survive but thrive amidst these challenges. In this video, we’ll be breaking down how to survive the collapse of the high ticket coaching industry.
Before diving in, I want to share that I called this collapse of the high ticket coaching industry back in 2017 when I had a column at Inc. Below you can find the screenshot:
I don’t say this to brag, I say this because if you were paying attention you could have seen it coming even back then. Now, back then I didn’t think people would be having public criminal scandals or full-on social media takedowns due to poor business practices, but the signs were there that something was going to give at some point.
Identifying the Core Issues
The high ticket coaching industry has seen an influx of skepticism and dissatisfaction among consumers. The root causes range from lack of substantial content in coaching programs to public scandals involving high-profile coaches. These issues highlight the necessity for a shift towards more structured and genuine coaching practices that actually walk clients through some sort of process that gets them their desired result.
People are tired of buying things with no structure to follow and then being made to feel like an idiot when they “just don’t get it.” Any coach who tells you this is abdicating responsibility and blaming you.
Restructuring for Resilience
To navigate the collapse, it’s essential to restructure your high ticket coaching business with a focus on transparency and value. Implementing clear, step-by-step processes within coaching programs can vastly improve client satisfaction and outcomes. Moreover, focusing on skill-building rather than just motivational content ensures that clients receive practical value for their investments.
We’ve always done this in our coaching programs and it’s why we get so many referrals. Because people get results quickly and then send their colleagues over.
Enhancing Client Experience
Improving the client experience is crucial. This can be achieved by maintaining regular, quality interactions with clients and continuously refining coaching programs based on feedback. A client-centric approach not only enhances satisfaction but also encourages referrals, reducing dependency on aggressive marketing strategies.
For example, we just completed our second round of our Effortless Sales Engine program where we help our clients automate their marketing and sales activity. Now we have enough data to make the program better and restructure it based on feedback.
In doing so, we ended up combining all our programs into one offer and shifting the structure of how we offer things. Within a few days of doing this, we enrolled several people into the new program. Why? Because we adjusted the offer based on feedback and that made it easier to sell.
Maintaining Professional Integrity
As the industry faces scrutiny, maintaining integrity becomes paramount. Coaches should focus on ethical practices and avoid the pitfalls of greed or fame that could compromise their reputation and effectiveness. This commitment to integrity will distinguish your coaching services in a saturated market.
Conclusion
In the face of the high ticket coaching industry’s challenges, adopting a more structured, client-focused, and ethical approach can help your business not only survive but also set a new standard within the industry. By focusing on genuine value and integrity, you can turn these tumultuous times into an opportunity for growth and leadership in the coaching field.
As always, we aim to mix the visionary with the practical, so you can achieve tangible results and lasting success in your coaching career. Join the conversation on our next live stream to dive deeper into these strategies and continue refining your approach to high ticket coaching.