Problem: Is there a way to make sure you optimize your network and social relationships?
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Solution: What does an actual fitness coach do? You tell them your goals and accordingly, they curate a diet plan for you, make your fitness schedule, teach you exercises, identify your weaknesses, and work toward removing those weaknesses. In short, a personalized physical program that suits your needs.
This is how the ‘social’ fitness coach works too but with a little change.
Imagine this; a coach that helps you audit your network, identify where to deepen ties, identify where to cut ties, trains you in social skills and conversation, creates a plan for connecting with the right people, and keeps you accountable.
How does it work? The business consists of two models;
The first involves the user undertaking a paid, detailed quiz with questions specifically tailored to gain a greater understanding of each person’s social status and needs. At the end of the quiz, the user is shown a report of the findings from the quiz, with crucial information and suggested next steps.
The second business model, involves a small questionnaire, the answers to which are sent to the social fitness coach so that they gain a rudimentary outline of the client before beginning to work with them. Essentially, the application serves as an intermediary platform to connect certified ‘social’ fitness coaches with clients. The user can choose one out of the two options.
The aim of the business would be to boost people’s social health and equip them with the knowledge so that they can craft their social lives the way they want. It is pretty evident that the mental health market (directly tied to ‘social’ fitness) is in a boom stage, currently valued at over $131 billion. Social fitness is not just related to mental health though. With globalization and increased online connectivity, people are now more closely tied than ever before.
For making money, the two business ideas have different revenue models. For the detailed quiz and report, a one-time fee variable fee would be charged dependent on the level of detail requested by the user. Now comes the fun part. For the social fitness coach, the business would charge a commission on the coach’s earnings alongside a percentage fee on each successful match.
Monetization: Commission plus a one-time fee
Contributed by: Daksh Sachdeva