Blog
The Elevate Together Model: Sharing Revenue In Business Coaching
Two years ago, I navigated a life transition that demanded a substantial amount of my time, energy, and attention away from my business. Meaning, the way I had been operating my business in previous years was no longer a viable option. As a result, I had transitioned from launching masterminds, group coaching programs, memberships, and mini-minds, to ONLY offering my 1:1 coaching, the Elevate Partnership.
With the retirement of all of my offers but 1:1 coaching, I was exploring creative ways to scale my income (yes, even with a 1:1 coaching model!). This is where I began teasing my audience with the idea of a Revenue Share pricing structure. When it was received ... relatively well with former clients saying things like:
Love love love this! And like I said yesterday, you're one of the only coaches I would trust with this model.
I think it's so easy for folks to get excited about the idea of the coach making more money when the client makes money... But what a lot of people don't realize is how much mindset work & integrity & ethics it requires on the coach's part to not push the client into things that are not right for them for the coach's financial gain.
Having been your client for over a year, I can honestly say I would trust you to still show up and coach me in the way that serves ME in this type of [revenue] sharing container.
I KNEW it was time to expand to a NEW way of doing business! This NEW way of doing business would involve what I've now coined as the Elevate Together Model, consisting of a base rate of $1027 per month + 15% of new revenue earned, paid out monthly.
Now, before we go any further, there are three important things to note to ensure that you understand more nuance to how I arrived at this BIG decision and change:
- Firstly, while this model was relatively new to the coaching industry, it wasn't new to me. During my time at Louisiana State University, where I obtained a Master's Degree in Sports Administration, I worked at the LSU Athletic Department for approximately eight years. At one point, I considered pursuing a career as a Sports Agent, but I decided against it as I wasn't interested in attending Law School (I won't be addressing nuances about this decision here). Consequently, my understanding of how a Sports Agent negotiates player and endorsement contracts was not only something I studied but also a field I considered pursuing as a career. Therefore, my background, along with the legitimization of this model in a completely different industry, provided me with the know-how and confidence to integrate it into my coaching business.
- Secondly, the model was pioneered in the coaching industry by Lacey Sites, who coined it as The Partnership Model™. So, there was also evidence that this model was viable in my business.
- Thirdly, I went through several interactions with this model and experimented with different base rates and percentages before I landed on what felt most true and sustainable for my business. Therefore, what has resonated most with me in this season of life and business is my version of revenue sharing: the Elevate Together Model. In this model, the client pays a base rate of $1027, plus 15% of new revenue earned while working together, paid out monthly.
Integrating this pricing structure into my 1:1 coaching model has allowed me to scale my business. The truth is, that revenue share in my 1:1 coaching, the Elevate Partnership, is here to stay because it works.
If you've been curious about what the revenue share pricing entails, have questions about how it works, or perhaps wonder if you can integrate it into your business, then you'll want to watch the following video where I break it all down.
In this video, you'll hear me cover:
- A complete overview of the Elevate Together Model
- How clients report their revenue every month
- How revenue share is calculated each month
- What is included in 'New Revenue' with new clients
- How I determine whether clients accurately report their income
- And more!