Day 171: How to Get $50,000 Upfront
Day 171: How to Get $50,000 Upfront
Yesterday I was explaining how I got $100,000, $250,000, and $500,000 + coaching deals done and the contingency agreements I had in place.
After I finished and went to bed Netflix asked me:
“Are you still there?”
Yes, I’m still here… my government quarantined me and says I’m not allowed to leave the fricken house.
Your ONE COACHING THING Today Is:
“Creative Pricing Structures.”
This is a follow on to yesterday and finding/closing high-end coaching clients.
Good coaches are often HORRIFIC salespeople.
They struggle to close a high-end client (let’s assume $2k per month / $24,000 per annum) so they lower their annual fees to $1k per month / $12,000 per year to get the new client.
All you need to do is this.
Scale in the pricing.
Month 1 – $497
Month 2 – $997
Month 3 – $1497
Month 4 – $1997 per month ongoing.
Voila… a $23,964.00 on-going coaching client for an upfront $497 sale.
Here’s another creative technique I used to earn millions of dollars in coaching fees back in the day.
Let’s assume my UPFRONT fee is $50,000 to start a new coaching relationship going.
And the existing revenues for my new coaching client was exactly, $1,000,000.
It’s an enormous amount of work for me to get a relationship started with a coaching client and this is the reason for my high upfront fee….
I need to know EXACTLY where they are (where they made the bulk of their revenues – they don’t “know this” 90% of the time) and where they want to go with their business.
*Often where ‘they wanted to go’ was a stupid idea so a large part of my job was managing the owners ‘psychology’ (ego cough, cough) and ensure the end result wasn’t self-sabotage.
Self-sabotage is what happens when you get what you don’t want.
Example: A Father of three young kids grows his business to new heights but finds it takes him further and further and further away from his wife and kids.
Enter, Self Sabotage.
Back to my example of my $50,000 upfront coaching fees…
In lieu of my new client paying my upfront fees…
I make an agreement that I’ll accept a profit-sharing arrangement where I get paid if and when they hit established financial milestones.
I do not get paid my upfront fees if we miss, said, milestones.
To get started… I’m willing to get my $50,000 over time but to retain my coaching services they must pay my monthly retainer of $1,997 per month ($23,964 per annum).
My $50,000 upfront fee paid in 5 intervals of $200,000 increases in their revenue.
This $50,000 upfront fee is paid at agreed upon revenue (NOT profit!) milestones like this.
$1,200,000 ($200,000 increase from where they were) = $10,000 (Of the $50,000) to me
$1,400,000 = $10,000 to me
$1,600,000 = $10,000 to me
$1,800,000 = $10,000 to me
$2,000,000 = $10,000 to me
Total… your coaching client makes $1 million increased revenues and you make your bonus payment (upfront fees) of $50,000.
Let’s assume this happened over a period of exactly 12 months (to be clear this would be a rare and impressive level of success).
The client doubles revenues over 12 months and you made a $50,000 up-front bonus.
When you structure a deal like this the client can’t help but assume, you’re certain they’ll achieve the results to realize your $50,000 upfront fee.
OR let’s assume your client didn’t do anything impressive, dealt with a separation, health issues, drama drama drama… and you pretty much served as their Life Coach for 12 months while revenues stayed the same.
You still made $23,964.00 for the first 12 months.
Not bad for a Life Coach.
You heard it here first.
My software creates a roadmap you can use to justify the $50,000 upfront fees.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. I can’t wait until they make outside, legal.
PPS. If you’re looking for a proven system to follow for your coaching…. I created business coaching software and high-end step by step training to support it…
It’ll teach you ‘How to find any small business owner $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising.’
Imagine finding your annual $12,000 to $50,000 coaching fees BEFORE you started coaching your new clients?! And a proven coaching system created for you to follow with your new coaching client.
Reply to this post if you want to start following a proven coaching system.
PPPS. Forward this to someone that needs to subscribe to my daily emails and get a limited time, complimentary subscription to my business coaching magazine go here:
PPPPS. They tell me my Podcast is Ric Flair style, Money Makin, Client Getten, Joint Venture Landing, Event Fillin’, High-End Coaching Client Findin’ Gold For Business Coaches.
Entertaining, Informative, Uncensored, Unedited:
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Karl Bryan gets clients for Business Coaches...period. He is the Founder and Editor-in-Chief of The Six-Figure Coach Magazine and Chairman of Leader Publishing Worldwide, home of the largest private community of Business Coaches (24 countries and counting) in the world.
His goal is straight forward… to help serious coaches/consultants get more clients.