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One Thing: Day 448: $10k or $100k Per Month?
Day 448: $10k or $100k Per Month?
Yesterday I was explaining how your clients hire you for what they want and it’s insanely powerful to look a little deeper and deliver what they NEED.
That kind of leadership builds a special, long-term, coaching relationship.
Speaking of relationships…
Yesterday, I watched men cling to the OUTSIDE of an airplane for the opportunity to live in North America.
Unfortunately, it wasn’t Tom Cruise filming his own stunts during a new Mission Impossible movie.
I don’t know about you… as screwed up as the world feels right now, my family is SO DAMN LUCKY.
I hope you feel the same and cherish the relationship you have with your amazing country.
God, please bless those hopeful Afghanistan men that fell to their deaths.
In other news…
Stand for your bloody flag!
Anyhoo…
Your ONE COACHING THING Today Is:
“Is it better for my coaching client to make $10,000 per month and keep all of it… or is it better for them to make $100,000 per month and only keep 10% ($10,000)?”
This is a question I answered on my podcast and I thought it might be a good read here.
Answer was an in depth one…
… You probably know that I co-wrote a best-selling book in 4 countries ‘Accounting 101 for Business Coaches’ but here it is in a nutshell:
“I wish coaches would learn how to read financial statements rather than getting obsessed with cute websites and funky funnels.”
This is a complex topic that would need Q and A around their industry, opportunities, current offerings that are working, and most importantly, overall strategy.
But, in a nutshell…
Gross profit margins MATTER and are the Mac Daddy of a successful business.
Line up the most successful brands in the world (Ferrari, Louis Vuitton, Rolex, Disney, Nike, Apple, etc)… and I’ll show you a lineup of companies with high gross profit margins.
I refer to them as ‘Luxury Margins’ and they’re a STAPLE of all the top brands in the world.
But most business coaches/owners don’t even know what gross profit margin is?!?!
Neither does your client.
Therefore, to answer the question…
If a decent gross profit margin is there… the expenses can be controlled at a later date when sales/cash flow are established.
So your business doing $100,000 per month with $10,000 of profit can quickly be turned into $25,000 of monthly profit if they know what they’re doing (hired you and you use my software and the roadmap it provides you and your client).
FYI This is the foundation of Profit Acceleration Software™ and my Digital Acceleration Software™”.
Probably time you start using it.
You heard it here first.
Now, pick up the phone and go help someone.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
1. Save you from asking… I no longer do interviews. Please don’t ask.
2. I do not do joint ventures. You promote your business and I’ll promote mine.
3. If you want to work with us and my software, click here for a 15-minute call to discuss https://my.timetrade.com/book/KJVHS
4. Please don’t be weird.
PS. Making promises is easy and will create money. Keeping promises is HARD and will create wealth.
PPS. Marriages break up from lack of money… over lack of love X 100.
Business failures lead to destruction, addiction, depression, anxiety, suicides, and unfortunately, far more.
As good business coaches, we save marriages, save families, save kids from self-destruction… we save lives!
A true-life of purpose.
PPPS. 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 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:
https://thesixfigurecoach.com/subscribe/
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:
Missed a day? Catch up here.
Karl Bryan, creator of Profit Acceleration Software™
Karl is the Founder and Editor-in-Chief of The Six-Figure Coach Magazine and Chairman of Focused.com, home of the largest private community of Business Coaches (24 countries and counting) in the world. His goal is straightforward… to help serious coaches/consultants get more clients. Find out more at focused.com
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