In 2008, the recession hit the United States very hard. Jobs were being lost at a record pace, and, in general, the economy was seeing some of its worst moments since the Great Depression. However, on the flip side, the coaching industry went through the roof! Why did this happen? Because so many people who had lost their jobs became accidental entrepreneurs.
Business and Web coaches began to appear, all offering these new customers the resources needed to achieve their own life or business goals. Personally, I launched a business called TheBiz WebCoach.com in 2008 and had an amazingly successful first year helping thousands of aspiring entrepreneurs create their own Web businesses.
You can do it as well. If you have knowledge that can help other people, some skill or success plan that people need to have, then you can turn that into a group-coaching program. The concept is pretty simple. You find people who need what you are offering, have them subscribe to your program, and coach them as a group. You do it as a group for a few reasons:
It's much easier to coach a group. Setup a conference call line and let the group members call in once a week during a preset time to speak to you.
It's less time consuming. One-on-one coaching is great and profitable, but takes a lot of time.
You make more money. Imagine having 500 group members paying you $50 a month. That's what we're talking about here; big money for less work.
One of the big disadvantages to a group-coaching ...