One Thing: Day 67: A Whopping 40% Increase
Day 67: A Whopping 40% Increase
On Friday I was explaining how your clients need to be able to count it, weigh it or measure it.
When your coaching client says “We really need to start making some money around here…”
Exactly nothing is about to change. The simple reason is there’s nothing to weigh, measure or count.
They do this in hockey, baseball, football, soccer, and all other sports during tryouts.
They count how many points (TD’s, home runs, base hits, goals, etc) you got.
They measure how tall, fast and how high you can jump.
They most certainly weigh you.
Every year when hockey tryouts started my Dad would remind me:
“Kid, when you’re small you have to prove you can play.
When your big you have to prove you can’t play.
Go show them you belong and don’t take a backward step no matter how big they are.”
I wish he would have told me “when they swing… make sure you duck!”
Hullo, 8 fake teeth and sideways nose…
In all seriousness, he’s such a natural mentor… I was a lucky kid and still lucky to be able to call him today.
As far as measuring goes… expenses have a way of coming up to revenues.
It’s up there with the 7 wonders of the world like The Great Wall of China, Taj Mahal, The Colosseum, etc…
I’m a sales and marketing guy but as previously mentioned I’ve been studying accounting and business finance over the last couple of years, while building Profit Acceleration Software 2.0, like a madman.
Not just the ability to read financials but REALLY studying where the numbers come from, what they mean and how to quickly impact them profitably for a coaching client.
Your ONE THING is:
Measuring absolute numbers is mandatory (but almost no one does it) but measuring percentages is the next level.
It’s significantly more involved than this but here’s a very basic example of what I mean.
Many years I used to do traditional internet marketing.
I’d drive traffic to a landing page and plugged hundreds of people into my membership sites for $97 per month. When I went from 5% opt into 7% I was a pretty happy chappy.
When your client goes from 10% to 12% margins… it doesn’t look that impressive but those 2 points sure can add up on their income statement (profit/loss).
20% to 26% on sales conversions appears to be a moderately impressive 6% gain.
40% show-up rate to your live event to 56% is hard to do but possible (follow my Live Event Mastery which I’ve used to fill over 400 small business events… cough cough).
Here’s what you may or may not have realized above.
When I went from 5% to 7% opt-ins on my landing page… that was a 40% improvement.
10% to 12% is not a 2 percent increase… it’s a 20% increase in your clients’ margins (say “my high-end coaching fees” out loud for me).
20% to 26% is not 6%… it’s a 30% improvement on your clients sales conversions.
And 40% to 56% upward movement is a whopping 40% gain on live event attendance (Live Event Mastery… cough cough).
For those of you that find this obvious and all my accountants reading…
“Common sizing” is the second most powerful thing (you’ll have to listen to my new podcast “Business Coaching Secrets” to find out what number one is) you can do with a client’s income statement.
You heard it here first.
I’ll explain more about “common sizing” an income statement tomorrow.
It might put you to sleep but it has the ability to make your clients a LOT of money.
Obsessed with your business coaching success,
Karl Bryan aka King Karl
PS. Stop comparing your blooper reel with someone else’s highlight reel. You’re a gift from God, exactly the way you are, and never forget it.
PPS. I’m going to change your life tomorrow with info on how to get my new podcast Business Coaching Secrets.
Your life will change cause the content is LIGHTS OUT…. and I’ll also change your life cause if I get enough downloads I’ll show you a picture of my bellybuttonless belly.
And I might also (will) bring someone to Cancun with me as my guest for Business Coaching Mastery 6 (BCM6).
Here’s what others that have previewed my Podcast, Business Coaching Secrets, have said.
“I closed a coaching client the same day thanks to your guidance. Pure Gold and thank you.”
“You’re a genius. I’ll never undervalue my coaching ever again. Thank you for your brilliance.”
“How do you come up with this stuff? You’re bloody hilarious and totally crazy… it’s refreshing.”
“Karl, you could charge tens of thousands of dollars for this material.”
Watch tomorrow for info for my podcast.
Missed a day? Catch up here.
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.