We’re at the final stage of the Ultimate Growth Guide for Financial Coaches, where we’ve explored eight crucial stages of your client’s journey. This roadmap is the foundation of your growth as a financial coach. Understanding your client’s experiences, your own journey, and building the right business systems is key to a profitable and fulfilling coaching practice.

To access the entire Ultimate Growth Guide series in a bingeable private podcast, click here!

Rethinking Your Role as a Financial Coach

Let’s address a common misconception many coaches have: the idea that clients will eventually not need you. Early in my career, I prided myself on coaching clients to a point where they wouldn’t need me anymore. However, I’ve come to realize that this mindset is actually harmful to both your clients and your business.

The Challenge of Constantly Seeking New Clients

If your clients always leave after a short period, you’re stuck in a cycle of always needing new clients. This means constant marketing and attracting new clients, which takes up a significant part of your time and focus. Moreover, new clients usually require more intensive support at the beginning of their financial journey, which can be draining and unsustainable for you as a coach.

The Ongoing Need for Financial Coaching

Here’s the thing: even after clients have built a solid financial foundation, they still need your guidance. Life is full of new goals and challenges that require different mindsets, skill sets, and knowledge. I’ve experienced this in my own life, with each new life stage bringing a new financial challenge, from buying a house to starting a family and more. Your clients will go through similar transitions and will value having a trusted coach to guide them.

Designing the Periodic Coaching Program

Recognizing the need for ongoing support led me to create the periodic coaching program. This program shifts from more frequent meetings to less frequent but still impactful sessions, such as monthly, quarterly, and then semi-annually. This approach keeps clients focused on their long-term financial goals and allows you to maintain a sustainable and profitable practice.

CHECKPOINT 1: Are you harming your business, yourself and your clients by having the belief that eventually your clients won’t need you anymore? Are you hyper-focused on coaching the basics of personal finance (budgeting, getting out of debt, etc) and you are missing out on the true potential of coaching your clients beyond those things?

The Structure of the Periodic Coaching Program

Clients start with intensive coaching and gradually move to less frequent sessions. Business clients often settle into quarterly meetings, while individuals or couples might prefer semi-annual sessions. The focus is always on forward planning and aligning each budget period with their six-month or annual goals.

The Benefits of Periodic Coaching

For the clients, this approach provides continuous support and guidance for future-focused planning. For you, it offers a stable revenue stream and the opportunity to build long-term relationships with clients. You move beyond just teaching budgeting basics to being a strategic partner in their financial journey.

CHECKPOINT 2: Can you see the benefits of a periodic coaching program for you, your business and your clients?

My Journey with the a Periodic Coaching Program

When I started the Financial Coach Academy®, I was mostly working with clients in a periodic coaching program. This allowed me the time and space to focus on creating and launching The Academy®, aiming to bring more financial coaches into the world.

Maybe your dream is something else, like writing a book or launching a course, traveling the world or homeschooling your children. You could use the time you get back from not constantly seeking out new clients to create something that creates a passive revenue stream for you. The possibilities are endless. The point is that it’s all possible.

CHECKPOINT 3: The only question is: What would you do with your life if this was the business you created for yourself? What would you do with your life?

People say coaching isn’t a viable business because you are exchanging time for money, and in one sense that’s true. But we’re financial people – hopefully we save for our future and the time that comes when we’re no longer working at all. And in the meantime, there is a happy medium where you can make a decent living helping people and not necessarily be exchanging time for money every day or every week of your life either.

Every so often a client will exit the periodic coaching program and that’s OK too. If that happens, we simply perform our normal offboarding and let them know they are still part of the Fiscal Fitness family and welcome back any time.

CHECKPOINT 4: Do you have a periodic coaching program – an offer that allows you to support clients for years and years while generating a consistent revenue stream for you?

Your Path to Long-Term Success

Remember, financial coaching is a viable business where you can make a decent living and not be tied to trading time for money every day. By building a business with long-term client relationships and a periodic coaching program, you can achieve both personal satisfaction and professional success.

To learn more and take the next steps in your financial coaching journey, join us in the Financial Coach Academy®. Let’s work together to turn your dream into a thriving reality.