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One Thing: Day 61: $24K For A $500 Coaching Sale
Day 61: $24K For A $500 Coaching Sale
Yesterday I was explaining how the seductive but delusional titles of the books we buy accelerate business failure.
Not to mention stupid advice like “If you leave your business for 6 months and you come back to more money than when you left… you own a real business.”
Ummm….
I could tell you to practice marbles on the sidewalk so that you could dramatically improve your public speaking ability.
But that would be a stupid thing to say too… so I won’t.
I’ll follow Jeff Bezos, Sam Walton, Zuckerberg, Bill Gates, Steve Jobs, etc… ‘lead my team like a legend and stay totally and utterly dialed into what we’re doing and where we’re going’ but thanks just the same.
Champions WIN championships.
Losers LOSE championships.
As in unforced errors and mistakes.
Or perhaps going away from your business for 6 months thinking it was a good idea cause you read it in a book by a guy that has never built an actual business.
He wrote a book about it.
Anyhoo…
A typical scenario in coaching looks like this.
Great Coach = Bad at Sales.
Great at Sales = Bad Coach.
This is not 100% accurate but pretty close.
Kinda like the QB and the coach.
Therefore, a Great Coach closes at roughly $997 per month and struggles to get enough clients to hit comfortable 6 figures.
Great Sales Guy closes at $1997 per month / $23,964 per annum or more.
Great Coach: “He’s been coaching for 6 months and already getting $24,000 clients and I’m stuck at half that amount.”
Great Sales Guy: “It’s month 3 and what the hell do I do with them now…?” LOL
So, Great Coach that sucks at sales, here’s how you close a $24,000 client for a $500 close.
Enter scaled pricing.
Rather than close on month 1 at $1997 and then reducing your fees to $997 per month because you can’t close at the higher amount.
In other words, reducing the annual amount of your clients from $23,964 per annum down to only $11,964 per annum.
Bad MATH.
Month one close at (go as low or as high and you feel comfortable) at $500 and scale up to $1997 per month.
It could look like this:
Month 1 – $500
Month 2 – $1000
Month 3 – $1500
Month 4 – $1997 on-going.
Kaboom.
You just got a $23,964 annual coaching client for a $500 close.
You heard it here first.
Regardless of which one you are above… or if you live in the middle you need the NEW 2.0 version of my business coaching (profit acceleration) software.
The ability to read your new coaching clients’ financial statements (The BIG 3) and read / see financial trends is a life-changing talent.
Easier than you think.
Imagine finding your high-end coaching fees by pointing at ONE line item on a VERY SIMPLE to read, once you’ve been shown how, balance sheet.
Accounts receivable, cough cough.
Your new coaching client isn’t collecting the money they’re OWED on work they COMPLETED… but they keep running FB ads.
And wonder why they’re struggling LOL.
Enjoy your weekend.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. The highest respect is not afforded to those that MADE IT.
The highest respect is paid to those that made it and KEPT IT.
Carry on.
PPS. For a limited time, complimentary subscription go here:
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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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