|One of the most annoying things about the coaching industry is this idea that you have to constantly create new things, new programs, and new offers every month, but the reality is it’s much simpler than that.|
All you have to do is start, get consistent, then SCALE when you know things are working. And you can do all of this with just a few clients. You don’t a million clients to make bank or to even make a million bucks!
In this Daily Millionaire, I am going to lay it out for you and show you just how simple it can actually be.
So the first step is to just START. What’s the easiest thing to execute that you can start selling literally TODAY? This is usually something along the lines of 1:1 work or a mastermind.
With a course, you have to create the content, modules, set up the tech, create workbooks and resources, etc. etc.
A membership also requires a pretty decent set up, not to mention that most people aren’t ready for this type offer in their business just yet.
So the Phase 1 looks like this:
Four 1:1 clients at $2500 a month = $10,000
Ten group coaching clients at 1K a month = $10,000
= an easy and guaranteed 20K a month with only 14 people
Keep in mind that these are long term commitments, so that recurring revenue is guaranteed monthly and you don’t have to be in constant chase mode.
Phase 2: GROW– not that you have a steady income, you can add a course to leverage even more time and energy. It could look something like this:
5 1:1 clients at $3K per month = $15,000
15 group coaching clients @ 1K per month = $15,000
Course sales = 10,000 per month (500 x 20) – this can be $500 a month or $500 total
That’s $40K a month! (Not too shabby!)
Phase 3: SCALE
At this point I would start ads to grow my audience and client list. Keep the same momentum and increase what’s working. At this stage it could look something like this:
Keep your five 1:1 clients = $15,000
Increase to 25 group coaching clients = $25,000
Scale course sales to 50 students @ $500/month = $25,000
That’s $65K a month! (and of course you can go up from there)
Again that’s 3/4 of a million with less than 100 clients?
At this point you can also do things like charge more for your 1:1, start a high ticket mastermind, or a membership with 100 people paying you $99 a month (that’s another 10K), passive income products and sales, +affiliate income. You can also start looking into other revenue/wealth channels/
The biggest problem as you can see is getting the clients. You need people period. You need people to engage in your free content, you need people on your list and you need people to buy your programs/offers.
But there you have it, a simple way to get to $20K (and beyond) in just 20 hours a week!