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How to Make 100k a Year Online

Mar 26, 2020

Are you trying to make an income online but feel like you’re just pivoting from one offer to another and not really getting the revenue and results you’re after? When I was building my online business I had many ideas and tried to launch a lot of offers, and I quickly realized that it was a lot harder to sell these things than I had anticipated.  And that was exhausting. If you're in this place, I want to share with you the strategy of how to make 100k a year online. 

One of the reasons that onboarding clients and selling your program feels like an uphill battle, is because you're trying all the things and you’re doing it methodically enough. 

Let’s get into solving that problem for you.

How to make money remotely as a Coach

Establish your Northstar Offer 

As entrepreneurs, we have a lot of ideas and we often go into analysis paralysis thinking about making money with each idea instead of buckling down on one offer and seeing it through to success.

This primary offer is what we call your Northstar Offer (NSO). 

It is that program or course that you take to $100,000 in sales so that you have a strong foundation to scale from. It's the thing that you're filling or selling on a regular, consistent basis. 

It can be a group program, one on one, or a course. However you design that foundation of your house is up to you.

You’re going to launch this offer as many times a year as possible until you can get to a point where it is actually running for you. 

The secret to a successful NSO is to love your idea so much that you are committed to sticking with it until you make the revenue you want. 

Because the truth is, you’re going to fall on your ass a few times and if you give up on every idea once it fails and start a new offer, you’re going to stay on ground zero. 

You want to get that one offer to the level of automation.

Getting paying coaching clients

Onboarding clients is hard and can feel like an uphill battle for some because they’re trying all the things and not being methodically enough.

There are a few fundamentals to focus on if you want to get and retain paying clients.

Unique Selling Proposition or USP

Your USP is the feature characteristic of a product or service that distinguishes it from anything similar in nature and makes it more appealing.

Whenever you are selling something, your customer is going to be making a decision about having the solution you are offering. 

4 things to keep in mind when designing your USP

  1. Make sure it’s completely unique to anything else that people will compare it to in the industry.
  2. It has to be concise and clearly communicated.
  3. Choose something and make it memorable by repeating it over and over until it sticks in people’s minds
  4. Offer a solution that others are just not covering. We call this filling the gap.

Customer success journey

Customer success is when you anticipate the challenges and questions your ideal customer might have and methodically come up with the solutions and answers to those problems before they arise. 

You can use your NSO to work on your customer success journey and see what’s working, what's not working and adjust things accordingly.

This will allow you to attract your ideas clients, retain loyal customers, increase customer happiness, and increase your revenue.

Create a supportive community

You have to build a supportive community around your brand so that your clients can get to know, like and trust you. People buy from people that they feel connected with.

This means being transparent, real and showcasing who you are, and being honest about what you offer. 

And offering support and value to your community. 

Online coaching to earn money

Three Tiered Offer

So you may be thinking, how do I grow my online coaching business, retain clients and make more money if I only have one offer?

That's exactly why you have your NSO. Once you have established a strong foundation you can start to offer different but related packages from your NSO. 

The same knowledge base, but it's just different levels of intensity

It’s referred to as a Three tiered offer and it looks like this. 

  1. Self study offer
  2. Leveraged offer
  3. High end VIP offer. 

You're going to release those starting from the top. VIP first, then the group or one on one coaching, then the self study. 

When you start from the top it allows you to scale and do strategic testing, so that by the time you launch that self study course, you'll know exactly how to sell it and you’ve established the right price anchoring. 

Group coaching vs 1:1

The benefit of group coaching vs 1:1 is huge. You get to help more clients, increase your bottom line and build and accelerate your learning capacity.

Most coaches prefer to do one on one as a stepping stone for group coaching but they think that they aren't ready because they don't have enough one on one clients. 

In the first 4 months of starting my business I had filled one on one to some extent, and I decided to start doing a group. I ran a group and filled it with 10 people. 

You don't need that many clients but you do need to be extremely strategic so that you can learn from each of those one on one clients. 

Infrastructure for a Thrive Business Model

In order for you to build your Thrive Business model, you have to have the correct infrastructure in place which starts with having the correct systems in place and a team that’s producing results for you so that you’re not driving the ship alone. 

If you want your business to go on during times when your kids are sick or you need a break, then you have to have the correct infrastructure in place. Otherwise your business will crumble the moment that you aren't able to show up for it. 

Key takeaways for a Six figure coaching business

If you want to make 100k in a year with your coaching business then you have to have the right strategies in place. 

Create your NSO and commit to it. Establish a community of clients. Build your three tiers of income from your NSO starting with the highest offer. Have a team and systems in place to help you grow your business even when you’re not there. 

Buckle down and get to work with making your $100,000 with a group program. Click here to get the ultimate group coaching checklist now!