There are 5 different kinds of models in a coaching business. In this podcast, I will explain where communities will be the ONLY way to thrive and sustain as a knowledge giver. Honestly, people don't need knowledge, they need accountability and mentorship.
Learn more about this and my Diamond Certification - https://sidz.co/diamond
In this podcast, you will learn:
- Why communities are essential for the future of coaching and knowledge businesses.
- The limitations of course-based models in today's information-rich environment.
- The pros and cons of consulting-based coaching models.
- The impact and drawbacks of program-based coaching models.
- The benefits and limitations of high-ticket mastermind models.
- How a community-based model combines the strengths of various coaching approaches.
- The importance of accountability, a sustainable journey, and continuous innovation in coaching.
- Why challenges and growth opportunities are essential in community-based coaching.
- How to get involved in the community and upgrade your coaching journey with actionable insights.
Tune in to explore the evolving coaching landscape and understand why community-based coaching is poised to thrive in the future. Join us as we discuss the future of coaching and how you can be part of this transformative journey. Subscribe now for valuable insights in each episode of this 90-day podcasting challenge!
00:00:00
Speaker 1: I want to prove it to you in this podcast
00:00:01
Speaker 1: on why communities are the only things that will thrive
00:00:04
Speaker 1: in a coaching business and knowledge business over the next
00:00:07
Speaker 1: decade or even beyond. Because information is easily accessible, people
00:00:12
Speaker 1: are getting whatever they want in multiple ways. And of course,
00:00:14
Speaker 1: with A I and multiple other things that are happening,
00:00:16
Speaker 1: it's not about information anymore. We have to like think
00:00:19
Speaker 1: beyond it. So in this particular podcast, I'm just going
00:00:21
Speaker 1: to compare all the different models that I know.
00:00:24
Speaker 1: And I'm gonna tell you why communities will be the
00:00:26
Speaker 1: only model that will thrive in the next decade. And
00:00:29
Speaker 1: all those people who are propagating all of the models,
00:00:32
Speaker 1: they will come to realize this and they'll start to
00:00:33
Speaker 1: move towards community based models. Uh You know, either by,
00:00:38
Speaker 1: you know, uh by using their intelligence or by
00:00:43
Speaker 1: tasting the other side where people won't be responding to
00:00:46
Speaker 1: what they are doing and they have to eventually start building,
00:00:49
Speaker 1: becoming community builders. OK. Let's first understand
00:00:53
Speaker 1: where we are now in the year 2024. As I'm
00:00:55
Speaker 1: recording this podcast,
00:00:57
Speaker 1: we don't lack information. You can go on youtube, you
00:01:00
Speaker 1: can swim there for 24 hours a day. You can
00:01:02
Speaker 1: use chat GPT, you can get whatever information that you want.
00:01:04
Speaker 1: What people lack today is what lack of implementation and
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Speaker 1: lack of focused
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Speaker 1: uh implementation and mentorship. See, mentorship is what people really
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Speaker 1: look forward to. OK? And even mentorship is not like
00:01:18
Speaker 1: a kind of mentorship. You just give them some yarn
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Speaker 1: and tell them, OK? Do this, do this, do that,
00:01:21
Speaker 1: do that have a checklist? No, it's not about that.
00:01:24
Speaker 1: Uh It, it's deeper than that. I'll, I'll decode that
00:01:27
Speaker 1: for you. Ok.
00:01:28
Speaker 1: And then you also have, um,
00:01:31
Speaker 1: if you look at the state of the industry today,
00:01:33
Speaker 1: there's one category of coaches where, you know, they do
00:01:36
Speaker 1: like a done for you, services like agency kind of models.
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Speaker 1: Uh where yes, you come to us, we'll do everything
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Speaker 1: for you. You just pay us this high ticket and
00:01:44
Speaker 1: then you know, that's it. And you have another category
00:01:47
Speaker 1: which is where you make them do it themselves and
00:01:49
Speaker 1: that really frees up a lot of your time.
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Speaker 1: And again, that's the model that I have taken where
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Speaker 1: I do have vendors, service providers on various different aspects
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Speaker 1: of the coaching game. But I want people to get
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Speaker 1: hands on and I want like they say that if
00:02:04
Speaker 1: you give a man, a fish, you can feed him
00:02:05
Speaker 1: for a day.
00:02:07
Speaker 1: But if you teach a man to fish, you can
00:02:09
Speaker 1: feed him for a lifetime.
00:02:11
Speaker 1: So first let's understand the five different kinds of models
00:02:14
Speaker 1: that are there. OK. The first model which is a
00:02:17
Speaker 1: very straightforward model, which is a course based model. Yeah,
00:02:20
Speaker 1: come to me by my course, attend my, you know,
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Speaker 1: just go through this course, pre recorded course and you
00:02:25
Speaker 1: can get access to this. It's a very transactional based model. Yes,
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Speaker 1: you can have high value courses and value packed information.
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Speaker 1: But the sad truth is people don't finish the courses.
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Speaker 1: The industry standard is like less than 5% of people
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Speaker 1: finish the courses.
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Speaker 1: And I'm sure you are one of them. You know,
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Speaker 1: you bought a course on Udemy, you bought something on Coursera,
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Speaker 1: you got very excited when you saw the offer and
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Speaker 1: it is a crash deal and you bought something and
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Speaker 1: then after that, you didn't go back and see that course.
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Speaker 1: So the course based model, just imagine the creator of
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Speaker 1: the course has spent so much of time and energy
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Speaker 1: and all that high flying high end production to actually
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Speaker 1: create that course. And then nobody is even competing the course.
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Speaker 1: So what's the point of it? Ok. So the problem
00:03:01
Speaker 1: with the course based model in today's day and age
00:03:03
Speaker 1: and of course, as we move into the next decade
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Speaker 1: is
00:03:06
Speaker 1: it's not sustainable in terms of getting results for people.
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Speaker 1: You may get results for yourself, selling your course with
00:03:13
Speaker 1: your high flying marketing hooks and strategies. But
00:03:17
Speaker 1: if you don't care about student results, you'll take up
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Speaker 1: this business model.
00:03:22
Speaker 1: And that's why in the beginning I was selling courses
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Speaker 1: and I shifted a community model because I could not
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Speaker 1: sleep in the night.
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Speaker 1: Keeping in mind that, oh yes, I'm making, you know,
00:03:30
Speaker 1: 2030 lakhs a month. But I'm not, but I'm not
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Speaker 1: able to see that those kind results where other people
00:03:35
Speaker 1: are falling because nobody is completing the courses. So I
00:03:38
Speaker 1: completely switched away from just the pure course model to
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Speaker 1: the community that I'm building right now. So the course
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Speaker 1: model has its pros and cons, OK. The second model
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Speaker 1: is a consulting based model, a consulting based model is
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Speaker 1: it really works well for people in the life coaching space.
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Speaker 1: It works really well for the for people in the
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Speaker 1: healing space,
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Speaker 1: uh agency. Let's say you do a high ticket consulting,
00:04:00
Speaker 1: get people on board, you will have some done for
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Speaker 1: your services at the back end. Plus you're gonna be
00:04:05
Speaker 1: inviting them to some kind of a weekly call that
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Speaker 1: they need to attend and not, you know, and also
00:04:09
Speaker 1: incorporate some courses into it. But it's more like a
00:04:11
Speaker 1: consulting based approach. So the pros of this model is
00:04:16
Speaker 1: you can be profitable by selling high ticket. But the
00:04:18
Speaker 1: cons of this model is the only way to scale
00:04:20
Speaker 1: this is by you building teams or you know, getting
00:04:24
Speaker 1: people to be closers for you. So that, you know,
00:04:27
Speaker 1: you can actually close those deals and get people on board.
00:04:29
Speaker 1: And of course, that there is an entire school of
00:04:32
Speaker 1: thought behind it. And I know
00:04:33
Speaker 1: the source of where it is coming from. And I've
00:04:34
Speaker 1: also learned from the source, ok, like I've learned directly
00:04:37
Speaker 1: from the guy who propagated this idea and I was
00:04:40
Speaker 1: a part of his $35 a year mastermind many, many
00:04:42
Speaker 1: years back. And I understood its limitations also, it really
00:04:45
Speaker 1: works well for specific industries. But I understood his limitations
00:04:48
Speaker 1: that it's really not about uh you know, continuing a
00:04:51
Speaker 1: relationship with a person, but it's just about closing a deal. And,
00:04:55
Speaker 1: you know, it's a very hunter mindset approach. OK.
00:04:58
Speaker 1: Number three is the program based model doing live workshops,
00:05:02
Speaker 1: live boot camps. Now, the good thing about this model,
00:05:05
Speaker 1: it is high impact, no doubts, you know, spend four
00:05:07
Speaker 1: hours with somebody spent three days into six hours on
00:05:09
Speaker 1: each day. You can actually pretty much, you know, it's
00:05:13
Speaker 1: a very sustainable high impact training model.
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Speaker 1: But the con of this model is the cycle ends.
00:05:19
Speaker 1: Meaning suppose you're doing a one like a four hour
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Speaker 1: workshop or a three day boot camp. Uh The advantage
00:05:24
Speaker 1: is you can sell a high ticket product at the
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Speaker 1: end of a three day boot camp and you need
00:05:27
Speaker 1: to have the facilitation skills to hold people's attention for
00:05:30
Speaker 1: three days and you can sell, uh you can it
00:05:32
Speaker 1: can be very profitable. But again, the con of this
00:05:35
Speaker 1: model is since there's an end to the cycle, you
00:05:37
Speaker 1: may not be able to build depth in your relationship
00:05:40
Speaker 1: with your students. They come there,
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Speaker 1: it's like an information focused, they learn, ok, they get
00:05:44
Speaker 1: some kind of a transformation but then it, it ends
00:05:48
Speaker 1: in those three days or it ends in those three months.
00:05:50
Speaker 1: So what are we going to be up selling to
00:05:52
Speaker 1: them after that? And what, what are we gonna be
00:05:54
Speaker 1: upselling after that is also going to be a program
00:05:56
Speaker 1: based model. You're gonna do two workshops, three workshops, four workshops.
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Speaker 1: So anything that is, you know, centered around knowledge or
00:06:03
Speaker 1: giving more information, I feel it has a limitation over
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Speaker 1: time because people don't come for information anymore. They want
00:06:10
Speaker 1: the implementation to happen. OK.
00:06:12
Speaker 1: Then you have model number four is what I call
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Speaker 1: as a mastermind model.
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Speaker 1: Like it's a high ticket mastermind the master mind principle
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Speaker 1: is what people come together. They charge you charge premium
00:06:23
Speaker 1: and there's going to be a networking bonding between the,
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Speaker 1: you know, people in the master mind. There's going to
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Speaker 1: be a learning element, there's going to be a live element,
00:06:29
Speaker 1: there's going to be a course element, but it's more
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Speaker 1: to do with exchanging ideas between people who are,
00:06:35
Speaker 1: you know, playing at the top of the game. It's
00:06:37
Speaker 1: this is one of my ultimate models. I'm also running
00:06:39
Speaker 1: a mask man called the Quantum club. And we are
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Speaker 1: 100 of us. It's a ₹10 lakh per year. Mask
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Speaker 1: man is a renewable uh subscription based model. And we've
00:06:47
Speaker 1: had like 80 90% renewal rate in the last uh
00:06:50
Speaker 1: you know, two years that I've been running this.
00:06:52
Speaker 1: And the good thing about this model is it creates
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Speaker 1: a good funnel stabilizer and cash flow in the business.
00:06:58
Speaker 1: But again, the con of this model is you can't,
00:07:02
Speaker 1: you can't have too many people in this particular model.
00:07:05
Speaker 1: There is a limitation on the number of people that
00:07:07
Speaker 1: you can have in a mastermind. And also this mastermind
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Speaker 1: model is is catered more to the top 1% of
00:07:14
Speaker 1: any industry. Like for me, I can confidently say there
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Speaker 1: are quantum club is
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Speaker 1: one of the best masterminds in the country when it
00:07:22
Speaker 1: comes to the coaching business because the collective income that
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Speaker 1: this mastermind generates per month is over 20 crores a month.
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Speaker 1: Just these 100 people are generating over 20 crores per month.
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Speaker 1: Some of them are doing you know, one crore plus
00:07:32
Speaker 1: per month also. OK. And it has taken me time
00:07:36
Speaker 1: to work with each person to get them to this level.
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Speaker 1: And normally it has taken at least a year, year
00:07:40
Speaker 1: and a half for them to come to this stage.
00:07:42
Speaker 1: So here we're getting catering to the top 1% and
00:07:46
Speaker 1: that's why your limitation is the number of people. So
00:07:50
Speaker 1: what about what about the 97% the 99% the rest
00:07:52
Speaker 1: of the group? That is why model number five is
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Speaker 1: community based model.
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Speaker 1: Now a community based model, the model which I've, which
00:07:59
Speaker 1: I'm propagating and I've been on it right from day
00:08:02
Speaker 1: one is having a combination of all these models. I
00:08:05
Speaker 1: have courses. I do high, my high ticket consulting where
00:08:08
Speaker 1: in the form of, uh not in a 1 to
00:08:10
Speaker 1: 1 consulting, but when people come into my diamond membership,
00:08:13
Speaker 1: it's as good as giving them a path and a
00:08:15
Speaker 1: like a high accountability model for them to get results.
00:08:18
Speaker 1: We do have live programs. I do live events called FBR.
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Speaker 1: We
00:08:21
Speaker 1: even an online event, live event called the hackathons, which
00:08:25
Speaker 1: we do every two months. But the thing is I
00:08:26
Speaker 1: don't do it for three days and then I let
00:08:28
Speaker 1: them go. If somebody does not finish the hackathon, they
00:08:30
Speaker 1: can come back the next time. So there's a kind
00:08:31
Speaker 1: of continuity, you know, for every rupee that a person spends,
00:08:34
Speaker 1: they come back so much. And I've noticed that when
00:08:36
Speaker 1: people come back after one year after two years and
00:08:39
Speaker 1: start the hackathon and then they become pre finisher Hall
00:08:41
Speaker 1: of Fame, one pro champion. It is so fulfilling for
00:08:43
Speaker 1: me to see and that's because I kept the doors
00:08:45
Speaker 1: open all the time.
00:08:47
Speaker 1: And the mastermind model is also there inside this. So
00:08:51
Speaker 1: what is now the difference between community model and all
00:08:54
Speaker 1: the others.
00:08:55
Speaker 1: The difference is very simple. You are not selling a course,
00:09:00
Speaker 1: you are not selling a high ticket, 1 to 1.
00:09:02
Speaker 1: You are not selling a live program. You are not
00:09:04
Speaker 1: selling a massman, you're selling a membership into a community.
00:09:08
Speaker 1: And again, my model is very, very simple. Have a
00:09:11
Speaker 1: front end low ticket membership, lifetime membership of 5000 to
00:09:15
Speaker 1: 10 have a mid tier membership, which is just a
00:09:18
Speaker 1: placeholder layer. If you ask me the 20 range for
00:09:21
Speaker 1: people who can't afford the high ticket and you give
00:09:23
Speaker 1: a high ticket certification where the certification is more like
00:09:26
Speaker 1: a high accountability, a journey for a person. It can
00:09:29
Speaker 1: be from a one year to three year journey where
00:09:31
Speaker 1: they are being audited and evaluated for their progress. And again,
00:09:34
Speaker 1: it is not happening on a 1 to 1 basis.
00:09:36
Speaker 1: It's all one to many group based stuff.
00:09:39
Speaker 1: So this is what I feel after analyzing all the
00:09:43
Speaker 1: models out there on the internet,
00:09:45
Speaker 1: this is going to be the future of coaching. This
00:09:47
Speaker 1: is gonna be the future of business itself. Why? Because
00:09:50
Speaker 1: number one people crave connection, they want to come back
00:09:53
Speaker 1: for more. They are not just they do, they just
00:09:56
Speaker 1: don't want knowledge, they just don't want gun, they don't
00:09:58
Speaker 1: want just bits and pieces of information that they can
00:10:00
Speaker 1: anyway get in a much more refined way on youtube
00:10:03
Speaker 1: or on chat GPD.
00:10:05
Speaker 1: People want to get results.
00:10:07
Speaker 1: So for that, they need accountability. OK? People want a journey.
00:10:11
Speaker 1: So if you look at what I've been doing over
00:10:14
Speaker 1: the last few years is I don't sell my knowledge.
00:10:17
Speaker 1: I sell the journey. I say you come here, it's
00:10:19
Speaker 1: going to take 3 to 5 years for you to
00:10:20
Speaker 1: get to whatever level that you want to have enough
00:10:22
Speaker 1: of case studies to prove that. So when I sell
00:10:25
Speaker 1: the journey, there's a high level of commitment. But when
00:10:27
Speaker 1: I sell just knowledge pieces, they'll want to, it's like
00:10:29
Speaker 1: a fast food. You know, they want to buy some
00:10:31
Speaker 1: French fries and they want to just consume that French
00:10:33
Speaker 1: fries and they may enjoy it, but it does not
00:10:36
Speaker 1: sustain the journey.
00:10:38
Speaker 1: People want a fresh start, you know, many people, they
00:10:43
Speaker 1: start on a journey but their life takes over. But
00:10:45
Speaker 1: when you do a community model, they can always start
00:10:47
Speaker 1: af freshh again.
00:10:49
Speaker 1: People want a space where there's continuous innovation happening. Like
00:10:53
Speaker 1: when you do a community model, for me, the best
00:10:54
Speaker 1: thing about community model is my content keeps changing every
00:10:58
Speaker 1: single day, every time I show up for a hackathon
00:11:00
Speaker 1: or inner circle call, it's continuously changing based on what
00:11:04
Speaker 1: evolution I'm going through. Of course, the topic will be
00:11:06
Speaker 1: the same. But the insights that I've gained the kind
00:11:09
Speaker 1: of innovations that happen uh based on what I'm learning
00:11:12
Speaker 1: from myself, from my own campaigns and what I'm learning
00:11:14
Speaker 1: from my top 100 students
00:11:16
Speaker 1: that, that collective uh you know, the collective insights that
00:11:20
Speaker 1: I get from the best of the best in the
00:11:22
Speaker 1: industry that makes the whole experience on a whole different
00:11:26
Speaker 1: level because it's continuous innovation happening and that's what people want,
00:11:30
Speaker 1: they want to learn the latest stuff that's happening. And
00:11:32
Speaker 1: my recent h that I'm doing, I, I've introduced some
00:11:34
Speaker 1: stuff with A I and some, some other stuff which
00:11:36
Speaker 1: is blown people's minds away like people have
00:11:39
Speaker 1: now people are launching a knowledge business at rocket speed
00:11:43
Speaker 1: compared to even 23 years ago during COVID. That was
00:11:46
Speaker 1: one of the times in all of the top coaches
00:11:48
Speaker 1: that we see today started their journey. But today they
00:11:51
Speaker 1: are going to be going, you know, what has taken
00:11:54
Speaker 1: people from 2020 to 2023
00:11:57
Speaker 1: people are starting now in 2024 they will do it
00:12:00
Speaker 1: in half the time because the new system in the
00:12:02
Speaker 1: process that we have. Ok. And of course, another thing
00:12:04
Speaker 1: is people want to be challenged, challenged, like put them
00:12:07
Speaker 1: through challenges, put them through a hackathon, like, you know,
00:12:11
Speaker 1: tell them that you better do this, you know. And
00:12:14
Speaker 1: of course, in a good way where you're also dangling
00:12:17
Speaker 1: carrots and you're giving all different kinds of Gamification and
00:12:20
Speaker 1: awards and recognition for people to feel that sense of
00:12:23
Speaker 1: pride that they are crossing from one milestone and going
00:12:26
Speaker 1: to the next milestone.
00:12:27
Speaker 1: And that's pretty much what I've engineered and cracked the
00:12:31
Speaker 1: code and template and it's ready to use for people
00:12:33
Speaker 1: from any walk of life, any niche, you know, we
00:12:36
Speaker 1: have like zillions of niches in the international community. Now,
00:12:39
Speaker 1: if you're already a part of the community,
00:12:41
Speaker 1: I would highly, highly recommend that you upgrade yourself to diamond.
00:12:45
Speaker 1: So that you understand what happens at that high ticket level.
00:12:48
Speaker 1: It's a super highly scalable high ticket mastermind. You know,
00:12:51
Speaker 1: we've done close over 70 at this point. You know,
00:12:54
Speaker 1: we're touching around 70 crores in revenue. We just have
00:12:57
Speaker 1: a 4 to 5 member team
00:12:59
Speaker 1: and we have more than 3000 diamond members who are,
00:13:03
Speaker 1: who have paid us anywhere from one lac to two
00:13:06
Speaker 1: lacs in that range. And you can actually do the
00:13:08
Speaker 1: math and see. It's like it's been one of the
00:13:10
Speaker 1: most scalable high ticket products where I'm not giving my
00:13:12
Speaker 1: 1 to 1 time where I'm not providing a service
00:13:15
Speaker 1: or like an agency or something like that. I'm not
00:13:16
Speaker 1: doing any done for you services.
00:13:19
Speaker 1: If you have to learn how to build that kind
00:13:21
Speaker 1: of a high ticket back end product, come and check
00:13:23
Speaker 1: out my damn membership, ok? Now, if you're not a
00:13:25
Speaker 1: part of my community, I would highly recommend that you
00:13:27
Speaker 1: go to Sidra checker.com,
00:13:30
Speaker 1: attend my next webinar and just jump in, start with
00:13:33
Speaker 1: my silver membership itself and that will be a great
00:13:35
Speaker 1: start for you, ok? So what I just want to
00:13:38
Speaker 1: tell you is today, I'm on day number 24 out
00:13:41
Speaker 1: of my 90 day podcasting challenge.
00:13:44
Speaker 1: I want to thank you for tuning into all my episodes.
00:13:47
Speaker 1: Make sure you subscribe to me on Apple and Spotify
00:13:49
Speaker 1: for all my future episodes. And uh I just can't
00:13:52
Speaker 1: wait to complete my challenge where I'm sharing my journey
00:13:57
Speaker 1: with each one of you as I am getting feedback
00:14:00
Speaker 1: from my community. So this is going to be one
00:14:01
Speaker 1: of the most valuable podcasts if you just go and
00:14:03
Speaker 1: check out my previous episodes. So subscribe and I'll catch
00:14:07
Speaker 1: you in the next episode.