One Thing: Day 217: Jail and Bankruptcy
Day 217: Jail and Bankruptcy
Yesterday I was explaining the mistake your high-end coaching clients are making when running promotions like 50% off… and it’s likely costing them a 50% increase in sales.
They likely run the promotion and do not test anything.
Speaking of failing tests…
I’ve been to jail three times and had to claim bankruptcy.
What were the chances of landing on Park Place and Boardwalk in the same turn?
I really hate playing Monopoly.
Your ONE COACHING THING Today Is:
‘A 60 Million Dollar Discount Strategy’
I was planning to move on from discounting… but this is too powerful to ignore and kept me awake last night.
Gary Vaynerchuk built his family liquor store from 3 million to 60 million in annual sales.
Not bad for a 20-year old that was trading baseball cards prior to taking over the family liquor business.
His primary advertising strategy was a loss leader.
He would advertise all the most popular brands like:
And other top sellers… and he promoted them for below cost.
As in the store LOST money when someone came in and bought what was advertised.
Customers would walk in for the discounted offers and “storytelling” would take over.
As in, he had salespeople working the floor of his liquor store and he was the number one sales guy.
He’d encourage (it’s all storytelling) the Budweiser guy to also try a craft brew that’s similar but far superior for a list of mouthwatering reasons that included, better for you, better tasting, no headache the next day and why not support family-owned / smaller businesses.
And also why not bring home a bottle of red for his wife….and tell him a story about some killer wine they just got in and that other wives are raving about.
I’m sure you’ve worked it out already… but the ones they were “storytelling” about and recommending were the boutique labels with HIGH MARGINS.
These boutique and craft sales easily made up for the small losses on Budweiser / Jim Beam.
They did the MATH and it well and truly worked.
Let’s get super crazy…
You could advertise as “The only business coach in town that operates on 7.5% of your clients’ additional revenues”
Maybe you’re using my software that’ll find any business owner $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising?
Find them the $100k in record time.
Then tell a powerful and influential story to lock in your $2k per month retainer also.
Candy from a baby.
You heard it here first.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. Remember… stress doesn’t come from hard work. Stress comes from ignoring things that should not be ignored.
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.