Coach – Give Yourself a Raise

A classic problem for coaches and other service entrepreneurs is that they run out of time to:

  • build automated systems that create a flow of future clients.
  • create recurring revenue streams like products and membership programs.
  • expand their potential by reflecting on their business and making continuous improvements.

The problem begins early on like this…

  1. http://prosperouscoachblog.com/coach-give-yourself-raise/Desperate for initial clients, coaches often set low fees and say ‘yes’ to many opportunities that aren’t likely bring a high enough return.
  2. When a client moves on, the income loss is keenly felt and there’s a scramble to enroll more clients “from thin air”.
  3. The limiting mindsets become habitualized for the coach, so new clients are also enrolled for low prices.
  4. Months or years later, it’s hard to breakthrough the ceiling on their income because the belief is that this is the best they can do.

Somethings gotta give.

2 Steps to Break From the Money for Time Paradigm

Want a sneak peek for the big unveiling?

You can learn a lot by seeing how other business owners are doing things, not to compare yourself to them, but to catalyze your own ideas. What’s behind the decisions entrepreneurs make? What kind of technology are they using? And how do they plan to serve their target audience?

I’m pulling back the curtain so you can have a peek at what we’ve been up to at Prosperous Coach. It’s BIG!

First, a word about continuous improvement. I don’t know about you, but almost as soon as I write a blog or launch a new program, I have better ideas. I hear from my clients what’s confusing, overwhelming or stopping them. And then I figure out how to help them solve those problems and streamline things for them.

To me that’s all part of service. For you too? A business can’t be in cruise mode forever. Innovation keeps things fresh for you and the people who follow you.

Take a peek at what’s new at Prosperous Coach…

My Coaching Niche Gets a Refinement

You know how the more you work with clients, the more clear you become about who YOUR ideal clients are? I’m making another refinement to the profile of my ideal client…

You see, entrepreneurship really does it for me. It makes me sing, dance a jig and get a high beam smile. So reluctant entrepreneurs — perpetual students, hobbyists or folks who aren’t motivated to do well financially while they do good in the world — won’t want my support unless they are 100% ready to power up.

Is Your Website Freebie Hot or Not?

I’ve launched a lot of websites. Sorry to say, several were duds. But I learned a lot from those duds, and now my website continually transforms web visitors into clients for me.

While I was failing my way to success, I discovered the #1 most important part of a website – the freebie (also called a “pink spoon”). This is the immediately downloadable free offer you have in your opt-in box on your home page.

What’s that you say? You don’t have one? Or… it’s not building your list fast enough? You’re not alone. I review a lot of coach’s websites for them and the free offer is often buried somewhere, or it seriously lacks pizzazz! That means it’s not doing the work it could of bringing you pre-qualified clients.

If you want to continually transform your web visitors into fans and your fans into clients, put up a free offer that’s irresistible. You’ll be amazed at the difference it makes.

Here’s how to tell if you’re on the right track with your freebie.

Assess the Sizzle of Your Freebie and Opt-in

Before you begin, open a browser to your website. (If you don’t have one yet, open the site where you were last compelled to opt in.) Make the size of your browser about the size of an average laptop. Now, without scrolling, look at what you see as if YOU were your target audience. Give yourself the points only if you can say YES to each question, then total the points and score yourself. Here we go…

3 Ways to Make Old Income Streams New Again — by Andrea Lee

This is a guest blog post by my friend — the fabulous Andrea Lee of Wealthy Thought Leader.

Most of us follow systems in a very step-by-step way, which is useful sometimes – but if you want to light a fire within you that is sustainable and will burn brightly for a long time to come, you’ve got to adapt; to align those step-by-step principles to whatever makes you unique.

That’s my specialty: helping business owners like you to reach 6 and even 7 figures, on your terms, by harnessing innovation and your unique connectivity.

That being said, I know that the pain of your current income streams not working is very real – and that’s why I’ve put together this post on digging deeper into the ideas you already have, and into the hope behind them, and innovating.

woman-holding-fan-of-money

Without further ado, here are 3 ways to make old income streams new again:

1. Keep the content, change the level of support.

Here’s an example: Best-selling author Michael Port, designer of the “Book Yourself Solid” business-building program, offered several traditional workshops. He didn’t need help with his workshops so much – he’s very successful in his own right, in case you don’t already know him – but he’s very much an innovator and had a few smooth moves up his sleeve.

To make his ‘old income streams’ fresh, and re-purpose the same content, he designed a new type of workshop – one in which 12 people would come to his house and get a dramatically increased level of service. He didn’t have to recreate his content; he simply changed the level of support. And it’s been hugely successful – people are willing to pay top dollar to meet with Michael in this “knee-to-knee, heart-to-heart” format.

What does this make you think of – in regards to your own business and experience? Could you add a level of support to any of your existing products, similar to what Michael role modeled for us?

How to Create a High Ticket Coaching Package

Is it time for you to have your own high ticket coaching package? If you prefer to work with clients at a deep level, but want to move on from classic one to one coaching into long term group coaching, then you’re ready to create a bundled program your clients will love! And why not significantly amp up your profits while you’re at it?

Go for high quality, high impact time with your clients. But be sure to play to your strengths while also considering what people in your market really want. Some markets will be too busy for individual calls and prefer live events at an exciting destination where they can tack on vacation time. Some markets will want more “hand holding”, so you’ll want to load on opportunities for both group and private support.

Bundle Together Lots of Goodies

It’s really “anything goes” when it comes to designing your high ticket coaching package so feel free to get really creative as long as you know it will please you and your market. Here are a few tried and true features you can mix and match.

Keep in mind, what makes a program worth the big ticket price is proximity to you and in depth experiences.

Create a High Ticket Coaching PackageGroup calls — Offer one type or a combination of group coaching, mentoring, educational teleseminars, and/or mastermind calls.

Small group support —Break your larger group into sub-groups with mini-masterminds or monthly or weekly accountability buddies.

Private coaching by phone — Include 1:1 sessions of any length that are pre-scheduled or set “open coaching” time periods on a first-come-first-serve basis.

Live events — These could be private or group half-day or full-day intensives or retreats.

Online connection — Provide some sort of low touch venue for members in your group to connect, ask questions, share wins and challenges, such as private social networks or Q&A forums.

The Beginning of a Beautiful Friendship – Your Freebie and Opt-in System

I know, your mind is on how you’ll get your next coaching client, but that kind of short term thinking will have you running around in circles. If you want to earn a great living from your coaching business, create systems that will bring in a steady stream of prospects who already want what you’re offering. You need a leads list. And the sooner you get to building yours, the better.

The first step is to set up an opt-in for a freebie that your ideal coaching market really wants.

Find out what makes people in your coaching market tick. Then create a give-away product that is highly relevant to their top challenges and most elusive goals. Your freebie should do one or more of these things: