As entrepreneurs, we have a lot of ideas and we often get overwhelmed thinking about implementing all of them.
But the truth is, you don't have too many ideas, you just aren't fully honoring those ideas.
One of the first problems I see with struggling coaches is a scattering of effort. They start a new program or offer and work really hard and then they start another one and they’re always offering stuff, but they're kind of all over the place.
That's why I want to discuss the importance of a Northstar Offer.
In a business model, the stage where the business begins to thrive is the point where a program is selling on automation and it's able to fill without you necessarily being the bottleneck or the one driving it all.
So when you're constructing your business with that end point in mind, you have to look at the idea you’re having and focus on seeing it through to that end point of success.
There's a big difference between growing your business and scaling your business.
When you're growing your business, you're trying to reach that first $100,000 in sales. If, during that process, you’re trying different offers to see which one will stick, it could get a little messy.
That's why you need a North Star Offer.
A North Star offer is that program or course that you're going to 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, but it can also be one on one or a course. However you design that inside part of your house is up to you.
In the beginning, because you're still growing, 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.
Because as entrepreneurs we have a million ideas for our business, we don't always fully honor and value those ideas. With your northstar offer, you can set the foundation for all your other ideas.
If you're the type of person that’s looking at one on one as a stepping stone to run a more leveraged offer, the question becomes, How do we get there?
The answer is very simple.
You have to be strategic and have your end goal in mind from the beginning.
So when you're setting out to run this North Star offer at $100,000 in sales, it's going to give you something to jump off from when you begin to scale.
When you're in a scaling mode, you're investing a lot into your business. You're going to be investing into a team and advertising and therefore you need to have this strong foundation to invest from.
And my recommendation is for that foundation to be $100,000 of sales into one program. Then you know what you’ll be able to scale.
When you're looking at the vehicle in which you deliver your offer, how you present it should be last on your list.
Everything that you do in your business needs to drive the customer success journey.
How you position the offer on your customer success journey, how you talk about it, what it does for someone and what the result is at the beginning versus the end is a much more important conversation.
One that struggling coaches are not having because they're so focused on the presentation.
So as you're deciding on the best way to deliver your North Star program the question becomes, can you physically do it given your current time constraint?
Do the math on your offer. Can you take your current program to $100,000?
Whether it’s one on one, a group program, or a course.
You have to look at the time blocks on your calendar, the number of units you'll have to sell, and the dollar amount that you’re going to charge and then do the math.
If the answer is yes, then by all means sell that until you can get that to $100,000.
What I recommend for those who want to go for a course format is if you already have a course, go all in on that course.
But if you don't have a course, run it as a group program first, then scale it up with a course. Because it's gonna take a lot of time and effort for you to record all those videos and create all the assets and you may not even be at the validation stage yet.
And remember that your North Star program must fit in your customer success journey. So you must look at where it fits and is it providing adequate results to move people to the next stage in their journey?
You have to become a master of your customer success journey and mastery happens when you take action and fail forward.
Think of yourself as a scientist doing an experiment. You’re going to make a hypothesis about how the program might sell, what people might want, how you’re going to position it, and how you might word things.
And you’re not going to let the results of your experiment influence how you see your program or make you give up on it when it did not perform according to your hypothesis. Just like a scientist, you need to detach yourself from the results and try again.
Mastery begins with you being the scientist first and then continuing to iterate and iterate and iterate and iterate.
You’ve got to stay committed.
You decided to pursue this idea and you're gonna honor and love it. You’re gonna stay committed to seeing it through to become a thriving point in your business.
So if you're at $40,000 and you give up well, then you didn't meet the objective.
You have a set very game plan that you can execute day in and day out and be clear on what to do every single day to move your plan forward.
Coaches, as entrepreneurs, often have a boat load of ideas and many scatter their efforts trying to get all of them up and running at the same time.
But the best way to scale your business is to begin with a strong foundation which you can achieve with your Northstar offer.
That is one offer, program, or course that you’re going to work on until you reach $100,000 in sales so that you have a strong foundation to scale from. For example, we have a mastermind program called the Profitable Impact Formula. It's the thing that you can fill or sell on a regular, consistent basis.
In order to reach your goal you have to master your customer success journey and be committed to seeing it through to the end through good times and bad times.
You have to show up and lead the way for your audience. In short, if you can help someone, it becomes your duty to help them.
Learn more becoming a Thriving Impactful CEO and how to grow and scale your business with a high-end Northstar offer such as a group program with the Ultimate Group Coaching Launch Checklist.