Updated: Dec 3, 2020
This 5 step guide will help you start a successful online coaching business with Reaction in just a few clicks.
STEP 1: Define your niche, need & value proposition.
STEP 2: Outline your solution.
STEP 3: Build your first asset.
STEP 4: Find your market-fit
STEP 5: Drive success
Creating an online business can be a challenging task, but like any risk, it comes with great reward, both in what you will earn and what you will learn.
There are some obvious advantages from the get-go: your customer base isn’t limited to the equipment you have or the capacity of the space you rent. You can reach people anywhere in the world, from anywhere in the world!
The key to a successful online business after take off is all about what you do to prepare.
One of the biggest false assumptions made by people who want to start an online business is that it will just take care of itself.
Similar to a brick and mortar business that requires investment in physical assets (venue, equipment, etc.), successful online businesses require investment in digital assets.
Time, passion and perseverance of course are also part of the equation. At least three months of hard work are essential to getting off the ground online. After analyzing the journeys of the most successful business on the Reaction platform (some reaching $60k revenue in 6 months!), we’ve created a blueprint for you to start your own thriving online business:
STEP 1: Define your niche, need & value proposition
Open a notebook and get cracking on these business basics:
Niche of Expertise What do you offer? Who do you serve better than anyone else? The narrower you are, the easier it is to find customers and make them happy. For example, if you are a fitness trainer, “30+ year old digital nomads who have never been active” is a much better defined niche than “30+ age group”. While having a broader niche market is appealing, a more specific audience will help you best define the value you can offer.
Need When we think about 30+ year old digital nomads, they are probably finding it hard to maintain routine as they are not settled in one place. However, they are noticing that they are starting to feel less energized than they did in their twenties. Once you have a defined need, it’s easier to develop an offering.
Value Proposition -Try to craft a statement that clearly communicates the value you will offer and the outcome. For example, “I help 30+ year old. digital nomads build fitness routines on the move and feel 10 years younger” is a well-defined value proposition. If a 30+ digital nomad seeking a fitness trainer reads this, they will probably think you are the right person for the job.
STEP 2: Outline your solution
To build a successful plan, create a title that also serves as the goal for your program (i.e: run a 5k, build a healthy breakfast routine etc.), and make sure to define the duration of the plan (i.e 30 days, 6 weeks etc.)
While you may eventually expand your online business to offer more than one plan ,start with one main offering, so over time you can assess what’s working- and what's not. Keep in mind your niche audience from Step 1 as you build the program. An excellent way to do this is to work with someone from your niche audience to develop the program or provide feedback on one you draft yourself.
STEP 3: Build your first asset
This stage is probably the longest in the process because you will be manufacturing your first digital product! Your digital product on the Reaction platform has no inventory and you can sell it as many times as you wish. Depending on your creativity and customer response, you can experience fast growth with minimal marketing expenses. Marketing is a whole other ball game, which we will address later.
Log in to the Reaction Playbook Development Studio, create a Playbook and start building your plan (here is how). Add your own videos and images, keeping in mind what will best attract your clients and comply with copyright and usage laws.
When building the plan, ask yourself some of these questions: what will someone who uses your plan accomplish? Learn something new? Adopt a new skill? Have a specific result? If you can easily answer these questions from the user’s point of view, carry on!
Next, determine how you would like to price your program. We suggest you compare your program/plan to similar plans or online solutions in the market to guide you. You can adjust your pricing in the future as needed.
Once you have built a plan with your content, tested it with yourself, it’s time to find your first customer.
STEP 4: Find your market-fit
You don’t need to run a full-on marketing campaign, or get a large pool of customers at this stage. The key is finding just one person to buy your plan. Just to clarify, your mom or friends don't count! Facebook groups and Instagram hashtags relevant to your niche audience are great tools for spreading the word and offering your solution. Think of your posts as tests of how people respond or do not respond to your messaging and pricing.
If your strategy engages one customer, there will be others out there that are interested. It will also give you the ability to directly and informally communicate with your target audience and understand better what questions they have, what they are looking for and more information that can help you make your product even better with time.
You may be asking yourself, “Is giving my plan to people for free a good idea? The answer is no. Although you want to encourage and excite users to test your product, there is no real incentive or “buy-in”. If a customer is willing to pay for your service or product, it is a real testament to the value they see in it!
STEP 5: Drive success
Once you find your first customer, you can use their “profile” as a means to find similar customers. In this early stage, it is incredibly important to do your best to make your customers feel happy, valued and accomplished as a result of purchasing your program. Word of mouth can be your best friend or worst enemy!
Once you know your plan(s) are working well and pleasing this initial group of customers, it’s time to explore how marketing can grow your business. There is a wealth of information out there about digital marketing.
We recommend you get started with Facebook or Instagram ads, and even consider partnering with micro-influencers in your niche (accounts or individuals with 2-5K Instagram followers is a good target) to use and share their experiences (promote!) with the program. Based on your budget and relationship, you can determine if you will pay them for this collaboration.
We have been impressed and happy to receive these insights from the most successful coaching businesses who use the Reaction platform to propel their goals and customer experience.
Get started with these steps to create your first Reaction program now and grow your business in just a few months!