For the above to work effectively (Laws 1 and 2), coaches need to earn money from their clients for the lifetime of that client.
Paying coaches by-the-hour for a personal training session or group class has been a failed model for 40 years in terms of its ability—or inability in this case—to develop professional career coaches.
Instead, coach compensation must be directly lined-up with client retention and ACV, and tied directly to their revenue generation (Law 6). In this sense, the more the coach earns, the more the business makes (Law 8).
Coaches receive performance-based pay on their recurring revenue in exchange for servicing their clients professionally—the key being recurring revenue on their book of clients, as opposed to a one-time sales commission based on a single transaction.
Thus, coaches are paid for servicing and retaining their clients, with an ongoing bonus for client acquisition (aka referrals), which allows them to become full-time career coaches who earn a professional wage.
Webinar For Coaches
In this masterclass replay, we're going to show you the system that will allow you to have a career as a professional coach, whom:
Our primary goals are to teach you how to keep your clients for years while making your business disaster-proof, allowing you to truly make a difference for the long term.
If, after watching, you find yourself thinking, 'Damn! This makes a ton of sense!' The following steps are to have a conversation with one of Madlab's mentor coaches.
Webinar For Gym Owners
We're going to show you the system that will allow you to:
If, after watching, you find yourself thinking, 'Damn! This makes a ton of sense!' The following steps are to have a conversation with one of Madlab's implementation managers.