My $100 course turned in a $1,000,000 Coaching Business: Here's How
Summary
TLDRThe video script details a journey from a $100 course to a multi-million dollar coaching business, emphasizing the importance of perceived value and specificity in scaling. It outlines strategies for transforming a six-figure business to a seven-figure one by focusing on a niche market, defining key transformations, and structuring offers around personal worth and client outcomes. The speaker shares insights on setting up a coaching infrastructure with one-on-one advisors, leveraging technology for efficiency, and creating a customized, accountable client experience.
Takeaways
- 🚀 The journey from a $100 course to a multi-seven figure coaching business was a result of years of dedication and learning from mistakes.
- 💼 The initial $100 product was a Discord community guiding people through getting their first agency client, which later evolved into a more scalable model.
- 🔑 To scale a coaching business, it's crucial to increase perceived value, which involves self-assessment and understanding the customer's perspective.
- 💡 The concept of 'perceived value' is pivotal in transitioning from a six to a seven-figure business, and it's tied to the specificity of the service offered.
- 🕒 A seven-figure coaching business requires a clear understanding of the time spent with clients and the value of the transformation provided.
- 💰 The speaker suggests that to achieve a million dollars per year, one must see themselves as worth $500 per hour and structure their offers accordingly.
- 📉 Decreasing the total addressable market (TAM) increases the specificity and perceived value of the offer, which in turn justifies a higher price.
- 📈 The speaker provides an example of how specifying a time management course for different professions increases its value and price.
- 🛠 Defining a key transformation for clients is essential; it's about guiding them from point A to point B with minimal pain and maximum efficiency.
- 📅 The speaker outlines a model of one-on-one advising with a dedicated time for clients, which can be scaled with more team members or by increasing the client base.
- 📝 A successful coaching business involves a structured approach with tools like calendars, journals, and roadmaps to keep clients engaged and accountable.
- 🔄 Transitioning from a basic community to a personalized one-on-one partnership can significantly increase the value and price of coaching services.
Q & A
What was the initial business model described in the script?
-The initial business model was selling a $100 course that included a Discord community to guide people through getting their first marketing agency client. It involved a welcome, content, frequently asked questions, and a LevelUp section where participants could create a ticket for one-on-one assistance.
How much revenue did the business make with the initial model?
-The business made $10,000 a month with the initial model, but it was not scalable beyond that point without a significant increase in customers.
What is the main difference between the initial model and the current model of the business?
-The main difference is that the current model charges upwards of $10,000 for one-on-one direct coaching with clients, ensuring results, and has transformed from a six-figure to a seven-figure business using the same information and skills.
What is the significance of 'perceived value' in transitioning from a six-figure to a seven-figure coaching business?
-Perceived value is crucial because it determines how much clients are willing to pay. The business owner must see themselves as worth $1 million a year and structure their offers and actions accordingly to justify higher prices.
How does the script suggest increasing perceived value for a coaching business?
-The script suggests increasing perceived value by decreasing the total addressable market (TAM) to increase specification, which makes the offer seem more personal and valuable, leading to the ability to charge higher prices.
What is the concept of 'Mount Pain' in the context of the script?
-'Mount Pain' represents the difficulties and challenges that clients face in their journey. As a coach, the goal is to help clients navigate through these challenges with as little pain as possible, accelerating their progress.
How does the script define a 'key transformation' in a coaching business?
-A 'key transformation' is defined as guiding clients from point A to point B, overcoming the challenges (Mount Pain) with minimal harm, and accelerating the process of their progress.
What is the role of a 'one-on-one advisor' in the coaching business described in the script?
-A 'one-on-one advisor' dedicates 2 hours every day to clients, with a bandwidth of 20 clients. They provide 2x weekly calls, each scheduled for 30 minutes, to deliver intensive coaching services.
How does the script suggest structuring the time commitment for advisors in a coaching business?
-The script suggests that advisors should spend 1 hour per week with each of their 20 clients, resulting in approximately 20 hours of direct client interaction per week.
What is the significance of using a customized roadmap and notebook for clients in the coaching business?
-The customized roadmap and notebook serve as a daily tool for clients, providing a more interactive and accountable experience compared to a static info product. It helps clients track their progress and stay engaged with the coaching process.
How does the script describe the transition from a basic community to a specified one-on-one partnership in a coaching business?
-The script describes the transition as moving from a basic community, like a Discord group, to a more personalized one-on-one partnership where the coach works directly with clients, holding them accountable for the transformation they aim to achieve.
Outlines
🚀 Scaling a Coaching Business to Seven Figures
This paragraph outlines the journey of scaling a business from a $100 course to a multi-million dollar coaching empire. The speaker discusses overcoming initial challenges and the importance of avoiding common pitfalls. They provide insights on transforming a basic $100 product into a high-value, personalized coaching service. The focus is on increasing perceived value by becoming worth $500 per hour and structuring offers accordingly. The speaker emphasizes the need to understand the perceived value from both the self and customer perspectives, and how specialization can lead to higher prices and a more successful business model.
📈 Defining the Coaching Business Model and Pricing Strategy
The second paragraph delves into the specifics of running a successful coaching business, detailing the operational model of one-on-one advisors who dedicate two hours daily to clients, with a capacity of 20 clients each. The math behind the business model is broken down, explaining how顾问s can achieve a $50,000 to $100,000 monthly revenue by charging $2,500 to $10,000 per month, depending on their level of expertise. The importance of focusing on key transformations and providing a customized, accountable service to clients is highlighted. The speaker also shares the infrastructure of their coaching business, including the use of scheduling software and Slack for efficient communication and organization.
🗓️ Transitioning from Info Products to Customized Coaching Experiences
The final paragraph discusses the transition from traditional info products to a more interactive and accountable coaching experience. The speaker describes how they transformed a static course into a dynamic, customizable roadmap and notebook that clients actively engage with. This approach not only provides a more personalized experience but also increases customer retention and satisfaction. The speaker shares an example of how they use Slack and a template system to deliver these coaching services, emphasizing the simplicity and effectiveness of this method in achieving a seven-figure coaching business.
Mindmap
Keywords
💡Agency Client
💡Multi-Figure Coaching Business
💡Perceived Value
💡Total Addressable Market (TAM)
💡Transformation
💡One-on-One Advisors
💡Deliverables
💡Info Product
💡Scalability
💡Accountability
💡Customizable Roadmap
Highlights
Transition from a $100 course to a multi-seven figure coaching business.
Achieved a total revenue of one million dollars through two Stripe accounts.
Years of dedication and learning from mistakes were crucial for business growth.
Initial $100 product was a Discord community guiding clients to secure their first agency client.
The limitations of the initial model capped monthly earnings at $10,000.
Evolution to a model charging over $10,000 for direct one-on-one coaching led to scaling the business.
Understanding perceived value is key to transitioning from a six to a seven-figure business.
The importance of self-worth and setting future identity to a revenue goal of $1 million per year.
Calculating the value of time spent with clients to determine pricing strategy.
Decreasing total addressable market (TAM) to increase specification and perceived value.
Example of how specificity in offers can lead to higher prices and perceived value.
Defining a key transformation for clients as a fundamental part of the coaching process.
The role of coaching in accelerating client progress and avoiding the pitfalls of self-guided efforts.
Setting up a coaching business with one-on-one advisors dedicating specific hours to clients.
Mathematical breakdown of顾问的工作量 and the potential monthly revenue based on client numbers and pricing.
The use of scheduling software and Slack for efficient business operations and team communication.
Transitioning from an info product to a customizable roadmap and notebook for a more interactive client experience.
Demonstration of the client's daily use of a template in Slack for deliverables and progress tracking.
Final thoughts on specifying offers, setting pricing based on future identity, and transitioning to direct one-on-one partnerships.
Transcripts
so I'm going to show you how we went
from selling a $100 course where we walk
people through how to get their first
agency client to running a multi7 fig
coaching business as you can see here
with the 500k that we made for this
stripe account and the 500k in this one
totaling up to a million dollars that
this business has made and this was not
easy this took us years of dedication
pain and honestly a lot of things that
are avoidable so in today's video I want
to sit down and walk through how you can
do the same minus a lot of mistakes and
hopefully get the same goal a lot faster
so diving in we're going to be going
through first things first our base
blockers then I'm going to be showing
you literally how to go through your
calendar how to walk through and set up
your slack and how our coaching business
looked so you can completely replicate
it for yourself so this is what our $100
product looked like as you can see here
it was a Discord community that helped
people through levels one to five on how
to get their first client for their
marketing agency we go in there'd be a
welcome then there'd be a Content then a
frequently Asked question and then a
final LevelUp section in this level up
section they'd go ahead create a ticket
and we'd work with them oneon-one for
$100 in this ticket to make sure that
they complete the action that it says to
do here which for example is a
screenshot of their social media profile
to move them on to the next phase and
this was a good model but it kept us and
it stuck Us in this place we were only
able to make $10,000 a month without
having a crazy amount of customers that
we had on boarded and we really weren't
able to scale like this if you compare
that to the model we have now we're
charging upwards of $10,000 total to
work with people in a one-on-one direct
sense and being able to actually sit
down with their companies and guarant
them results we have a completely
different business and have transformed
while using the same information and
skills what once did six figures into a
seven fig company so if you're a
coaching business owner as well and you
want to make the transition from six to
seven figures the first thing we need to
understand is that the only reason why
we're not able to do this is because of
perceived value as we can see here the
reasons for perceived value go into
first off we have self and customer so
first we're going to start off with our
self this is going to be based around
the future identity of the revenue that
we want to achieve so fundamentally if
we break down what a seven figure
coaching business is we have to make a
million dollar per year if we're want to
making a million dollar per year and
we're going to work 40 hours a week we
have to be worth $500 an an hour so
based on that $500 an hour that we need
to make the way that we're actually
going to structure our offer is we're
first off going to determine the amount
of hours a week that we're going to be
directly spending with people then we're
going to integrate the features of the
offer that we're actually selling the
value of the transformation and then the
total price that is going to equate to
so fundamentally we have to see
ourselves as someone that is worth $1
million a year in the actions that we
take and as soon as we do that and as
soon as we begin to take actions in
accordance to that we can then shape our
beliefs which are going to change our
actions and then shape the reality that
we need to do which is going to do the
exact same for customers over here so
the first thing that we have is that a
decrease in Tam which stands for total
addressable Market leads to an increase
in specification which means how much
something applies an increase in
specification means an increased and
perceived value because when something
seems very personal and specific it
resonates and people see it as a lot
more valuable and then finally that
increase and perceived value is going to
lead to an increase price that we can
justify charging so if I click over to
this example you can see here we have a
time management course and this is out
of $100 million offers first off the
time management course will cost 20
bucks super simple but as you can see
here as we specify and decrease the
total addressable Market the actual
price that we can justify charg and goes
up a lot more first off we have time
management for sales professionals okay
now it's worth $100 time management for
outbound B2B sales 500 and then finally
time management for outbound B2B power
tool and gardening sales reps because it
is so specific to the person that's
actually beinged to it is going to be a
price that we can justify a lot more
because people feel it's specific to
them so as you can see with that the
first thing that we're going to do with
our offer to go from a six figure to
seven figure coaching business is we
need to get very specific about who
we're help helping and the exact
mechanism that we're actually using to
help them from that point on let's say
we've honed down to the specific person
we want to help the next thing that we
have to do is Define a key
transformation so a transformation at
its most fundamental point is going from
point A to point B super simple now when
we actually put in business in the world
of offers and pain and humans into this
equation there Comes This Big Thing
Called Mount pain and as you can see
here on Mount P the further we go up
Mount P so if we have to climb Mount P
ourselves it's going going to hurt a lot
so really as a service provider the
transformation that we're allowing
people to do is go from point A to point
B and go over Mount pain or go through
Mount pain with as little harm as
possible because if they have to do it
themselves they're going to make all the
mistakes that you made they're going to
get hit with all the outcomes and all
the pitfalls that you did but if you're
able to guide them none of that's going
to happen and they're going to be able
to do a lot faster and fundamentally
that is what you're doing with coaching
you're accelerating the process of what
they're actually going through you're
not just the person who
is magically solving the problem you're
just increasing the speed of which it
happens so if you can do that then
Define your transformation and get a
specified person you're doing for that
is all you need to do in order to
justify your price from that point on
the next step is simply the setup that
you're going to actually have to achieve
so the way that we run our coaching
business is we have what are called
one-on-one advisors and you can be an
adviser yourself as you're continuing to
build up your business but the adviser
has a 2hour dedication every single day
that they're going to be spending with
clients and they have a total bandwidth
of 20 clients that they're able to
handle and the way that we actually do
this is these 20 clients are
delivered 2x weekly calls and each of
these weekly calls are scheduled to be
30 minutes long and the call can run
over a bit longer it's not too too
important on that factor but in order to
break down the math of this actually
happening so we have 20 clients two x we
calls for 30 minutes what we're going to
do is we're going to dedicate all the
time this is actually going to add up so
if we have 20
clients and we're actually going to be
going ahead and servicing each of them
for one hour a week that is going to
lead to
20x60 so if we go 20x60 and then we
divide this by 60 the amount of hours in
the week that we're going to be directly
spending with clients I make my head a
little bit smaller here is going to be
around 20 hours a week and that is with
a very very intensive delivery that
we're actually spending with people and
that would be for maxed out bandwidth of
a company that is doing if you're
charging $2,500 a month a $50,000 month
run rate and if you're charging $5,000 a
month which is where I'd recommend you
actually begin if you have a genuine
expertise 100,000 if you're charging
10,000 which is where you are if you
have a really good expert understanding
of what you're teaching then you can be
making a ridiculous amount of money so
this is with a very intensive
deliverable another deliverable that
works is dropping this down to 1x weekly
and if you do this to One X weekly and
this is what I did when I personally
took the calls because if I spend 30
minutes with someone compared to a
member of my team I'm usually able to
get a lot more done just because I
understand a lot more about the clients
and I'm the face so the actual customer
understands and wants to work with me
directly understands the payoffs and I
guess some of the drawbacks of doing
that you can get a 10-hour dedication a
week and by getting this 10-hour
dedication a week you now have the other
30 hours a week that you're going to be
working on your business in order to
purely focus on the needles that move to
get more and more of those clients or to
hire more people to increase this
bandwidth because if you have three team
members for example you can now have 60
clients right or if you want to actually
work 20 hours a week yourself on calls
or 30 hours a week on calls yourself you
yourself have the ability to take on 40
clients at that 1X weekly basis so you
might be asking well how does this
actually work and to show you what one
of our coaching businesses actually look
like here's is an example of what the
advisor's day is looks like as you can
see here between the hours of 11 to
12:00 p.m. they're going ahead and
taking calls and in these blocks they
have about three calls scheduled with
some scattered around to different
places and literally all that we do is
we have a simple calendar set up so I
can click into it to actually show you
what these calendars look like and this
is go High by the way I don't have any
Affiliates or anything like that for it
I just genuinely believe it's the best
software once you're inside you can see
here we have SIMPLE call description of
what we're solving availability set to
the time that we can take the call a
30-minute meeting 30-minute duration we
have a 2-hour scheduling notice a 20
days out that they can book in with a 5
minute buffer on each side and outside
of that we have very very basic
notifications if I go ahead to show you
right here and you can copy these for
yourself we have an external
notification that goes out where we
pretty much confirm the appointment for
the customer that booked it in and then
also five minutes before let them know
through email and SMS but then we also
have an internal notification that we
provide for every member of our team
that it will actually personally DM them
on slack saying that hey this call has
been booked or it will also personally
send a message to a slack Channel saying
hey a call has been booked so that
everyone can see but also the individual
team member can see and with that alone
with the infrastructure of just having
the team members and the people there
and having it all conjugated into slack
as I showed you we run a multi7
figureure coaching business and I kid
you not it can be that simple compared
to the crazy Discord and everything that
we had beforehand now you might be
asking yourself well what about the
course what about all the fancy and I
want to show you the very base level of
what we actually deliver for the person
because we took the model of giving
someone a copypaste info product that we
created one time into a customizable
roadmap and notebook that our actual
customers use every single day so when
people talk about having a sticky
product that keeps customers this is
what they actually look like so as you
can see here we've used the canas
feature in slack which is completely
publicly available and we've designed it
as a template for each client where they
can get all the deliverables that we
actually give them so first things first
is the calendars to actually book in
their team members but then also for
Community calls but inside of that we
have a journal so in this journal it has
all their company information and then
it also walks through the entire road
map we have in a far more condensed
fashion than info product would be
because info products can be very
intimidating to see all this course
content we have from phase one two
labeled with the days of our service
everything that they need to execute
which we have them go ahead and update
as they do these calls with us all the
way
through to the end of their partnership
and this is an example of live one so
you can see here some of them are
crossed off and I kid you not it makes
it that simple to do the actual info
product delivery in a way where the
customers feel they'll actually
interacting and being held accountable
to complete each phase so taking away
from this video if you are able to
specify your offer to a total
addressable Market that resonate more
with you and then in addition to that
take your future self of who you want to
be and then just your pricing based on
that you have the ability to combine
that with going from maybe a Discord or
an info product or very base level
community that you might have right now
to a specified one-on-one partnership
where you're working with people
directly and holding them accountable to
the transformation that you created in
order to justify the price hopefully
this provided you some value on how we
went six figures 7 figures and I
appreciate and hope you have a great
rest of your day
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