124. Should You Start a Group Coaching Program? Here's How to Know If You're Ready

The Financial Coach Academy® Podcast

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9d ago 31:03

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There's a question that keeps coming up from coaches, and honestly, it's one that can make or break your business if you get the timing wrong.
Should you start a group coaching program or membership?
The appeal is obvious—leverage your time, help more people, bring in more revenue for your time. What's not to love, right? But there's a reason why some coaches launch group programs and absolutely crush it, while others spend weeks building something only to have one person sign up.
And the difference isn't what you think it is.
There are three very specific indicators that tell whether you're ready to host a group program or if you should pump the brakes. Miss these signs, and you could end up like I did years ago: spending weeks creating content and marketing only to wind up with one person paying me $397 for what became a five-dollar-per-hour time suck.
But when you have these three things in place? Group programs can be incredible. People feel less alone when they realize they're not the only one struggling with money. There's this hive mind effect where one person's question unlocks something for three other people. The accountability that happens naturally in groups can make people implement faster than they ever would on their own.
The catch is that most coaches think building a group program will attract the masses, but it's actually the opposite. You want to attract people first, then provide the offering once you have people there to fill it.
This week, we’re walking through exactly when group coaching makes sense, when it doesn't, and if you're ready, the practical steps to actually make it happen without the mistakes that leave you wondering why nobody signed up.
Links & Resources:

Key Takeaways:

One-on-one coaching must come first. It's where you develop actual coaching skills and learn what works versus what you think should work.
Don't build a group program to attract people; attract people first, then build the program. There's nothing more disheartening than launching a group with only one person in it.
Three signs you're ready for group coaching: you're fully booked with demand, you have a large engaged audience, or you serve a unique niche that services masses.
Without one-on-one experience first, you'll become a financial educator instead of a coach. Managing group dynamics while figuring out how to coach is like conducting an orchestra before learning to play an instrument.
Pattern recognition from individual clients becomes your group program foundation—you need to see the common challenges, resistance points, and breakthrough moments to create effective group content.
Group programs work when demand already exists, not when you're hoping to create demand from scratch.
Start small with workshops or mini-programs before committing to a full group offering. Test the group dynamic and your enjoyment of it before making a major time investment.

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