When it comes to growing a business one of the most important jobs we have as CEOs of our own business is managing money.
In this episode, we are going to talk about the three financial routines for coaches that will exponentially grow your profit:
1. Create consistent recurring revenue streams that you sell regularly.
If a program product or service will only bring in cash once, this is a flaw in offer design because it will be very difficult to create a consistent revenue stream in your business. How you develop your coaching services and/or products is crucial in order to consistently bring in money into your business and avoid the feast and famine cycle.
If you want to learn more about creating consistent recurring revenue for your coaching business, join our FREE training, The 5-Step Framework to Build a $100K Coaching Business today.
2. Have money dates with your business finances.
Have one day, whether weekly or monthly, when you...
When I first started my coaching business, my coaches told me I had to start by selling to people I knew.
Although it was the most uncomfortable thing I have ever done...to this day. I quickly learned how unsustainable this strategy was long term.
As my business grew, I started to feel adamant about doing this and ran out of friends and family to sell my services to.
“How would someone who doesn't know me buy from me?” I asked myself.
I have come up with 4 simple steps to sell your coaching services online even if someone has no idea who you are:
1. Decide which platform you want to sell your services online.
Pick a social media platform that you love to be on as well as your ideal clients are going to be on.
2. Show up on your chosen platform consistently.
Showing up doesn’t only mean that you post consistently on your platform. You should also consider consistency when it comes to your visuals and...
It’s no secret that sales is so important for any business. It’s the main way we get customers or clients. It provides our business with income and revenue. Ultimately sales is what allows us to continue to do what we do for our clients.
So it stands to reason that we should learn how to effectively do sales. There are many different selling strategies, so it's important to find the one that works best for you.
There are 5 big conversation events that we can use to make sales. Each one comes with pros and cons:
Traditional and a staple, everyone does this.
Sales calls allow you to close a high number of clients and a high percentage of clients. More than any other of these other options. There’s a high conversion rate, high touch point, and high connectivity.
However this selling strategy isn’t the be all and end all. Like everything else it comes with its own...
“I didn’t know which direction to go into and I wanted to do this full time” This was Stephanie Schuttler, a wildlife biologist and blogger, before joining the Impact-Driven® Coach School.
In this episode, she shares her journey and her experience working with us here in Impact-Driven® Coach School.
I created a system called Raise Your Revenue Ceiling Checklist that gives you structure and the things you need to take action so you can create your consistent recurring revenue in your business. Grab it here for FREE!
Connect with Stephanie Schuttler:
Money is simple– creating more and spending less will generate wealth. However, making this equation work often brings up a lot more issues emotionally and behaviorally than the simple equation.
Some ways you can develop your mindset around money:
With so many other online coaches and coaching programs that leave people not getting results...
Have you been wondering how you can do this differently?
Or maybe, how can you create a program that truly transforms lives and allows you to help more people?
Here are some things you can do to lay that foundation of programs that actually help people and how you can approach the entire beginning part of your business so you can make a bigger impact:
1. Know who you are selling to and get specific.
The current market has been more saturated than it has ever been and so it’s important to create a program that is very specific to people you are going to help and is addressing the exact problem that they are going through.
2. Sell at least 3 spots of the program to validate.
Get your first 3 clients using the same messaging and sales process. I have seen coaches make the mistake of always changing up their...
I had a very insightful conversation with my dear friend and prosperity coach, Heather Abbott, about people’s relationship with money, how money relates to energy and some of the things you can do to manifest and build your wealth as a coach.
[02:25] Getting over and clearing money blocks and getting wealthy is just like getting out of an abusive relationship
[03:08] Your belief patterns and how you perceive specific rich people may affect your view of wanting to also become wealthy
[05:22] The millionaire financial habit of building wealth for the future
[08:40] The connection between how your energy can manifest wealth
[12:33] How money relates not just to dollars in the back but also to freedom and longevity
[14:25] Working on creating your happiness, because money really can’t buy happiness
[15:58] The abundance from living below your means
[18:40] Taking microsteps is a key action to reducing overwhelm...
If you’re looking to expand your team in your coaching business, here are some tips on how to hire people for your coaching business and what that process looks like in an online remote setting from start to finish.
1. Generate consistent recurring revenue to cover the salary of your employee/s.
If you need help on how to build your 6-figure business for a consistent recurring revenue, we have free training for you! Get instant access to The 5-Step Framework to Build Your 6-Figure Coaching Business training here.
2. Create the job description for the role.
The job description should not just list down what task they are focusing on but also what are the income-producing activities you can delegate to them so they can help with generating the consistent recurring revenue in your business.
You can get your checklist for the income-producing activities that you can do in your business to generate your consistent recurring revenue in our Raise Your...
“There is just so much on my plate and I feel like I don't even know where to begin”.
Feeling overwhelmed by so many things that need to be done in your business might be a familiar scenario for you. Oftentimes, I see coaches become overwhelmed because they’re putting on items in their to-do lists that are meant to be a project instead of a task.
A task is a single action that takes about 15-20 minutes and can be done RIGHT away without anything else. A project, on the other hand, is something that requires more than two tasks to accomplish and may require some prep work to complete.
There are also such things that we call miscellaneous tasks that may just take less than 15 minutes, even just two minutes to complete. The best way to handle these tasks is to do them immediately.
There are things that we think are going to be bigger than others and there are things that we think are going to be much smaller than others. Really focusing on...
One of my clients asked me how I choose my goals for my coaching business and in this week’s video, I want to share with you exactly how I structure my goals and what timeframe I set in order to achieve these goals.
How do you choose your goals for your business?
At some point in your life, you might have already tried setting a goal. Maybe you didn’t exactly hit your goal and now you have a bit of a hesitation in setting another goal. Or it could be that you are overthinking things or are anxious that if you set a goal, then you’re not going to hit it. If you are in this situation, remember this: There is zero requirement for you to hit 100% of your goal.
When I met the 90 X Planner creator, ALoN, one of the things I learned from him was that If you find yourself not hitting a hundred percent of your goal, simply make a bigger goal because what you're going to then do to try to get to that goal will get you to your actual goal.
Ready to build a sustainable, thriving business that will deliver consistent recurring revenue and help people all over the world while you work less?
Hit the button below to send me a DM and book a complimentary consultation. Let's talk about how we can grow your business to $100K in sales with a proven framework!