210. Should You Offer Coaching Scholarships

Welcome to Coaches on a Mission. You've got three important steps to take as you listen to all of the episodes on this show (they're pretty binge-worthy, aren't they?).  Join the Pod Squad: Access playlists, PDF transcripts and other freebies from every episode inside this members-only bonus vault. Check Out the Hive: The folks you hear on this show are members of my 12-month mentorship program, The Hive. If you get value from these free episodes, imagine what's possible when you join this incredible community and have Dallas at your side. Follow Dallas on Instagram: Where you'll get quick lessons to stay motivated as you build a values-driven, profitable coaching business you're truly proud of. Today we’re going to talk about scholarships. Let's draw a clear distinction between discounts and scholarships. A while back, inside the Hive, we had a member share that someone requested a scholarship into her program. After a little negotiation back and forth, this coach said yes to the client’s scholarship request. But when we really looked at the circumstance, this client didn’t earn a scholarship, they just got a discount, which is not equitable or sustainable. There's nothing wrong with offering discounts, but don’t confuse them with scholarships. A scholarship is something that is awarded on the basis of merit, achievement or other qualification. Scholarships require structure, clear criteria, intention and an equitable process to evaluate the winners. We need to be thoughtful about when, why and to whom we decide to grant scholarships. So that sets the stage for today’s episode. Dani Abernathy is back and this time, she’s ready to begin the process of rolling out an equitable, sustainable scholarship program. Now, I am not a DEIB coach, but I have given a lot of thought to the idea of scholarships and you’ll hear me ask Dani some essential Getting Started questions to help her begin to evaluate the shape of her scholarship program. So, if you have ever made the common mistake of slapping a discount on your offer and calling it a scholarship or maybe you want to develop an aligned scholarship program in your own business, then this episode is for you. Key Takeaways Alignment with Mission Equity over Fairness Clear Expectations and Support Clarity in Selection Financial Aid Approach Focus on Impact Connect with Dani:INSTAGRAM: @daniabernathyauthor WEBSITE: daniabernathy.com PINTEREST: @daniabernathycoach Connect with meINSTAGRAM: @dallastravers