The most Scalable Business Model - From 0 to $50k/month!Jan 22, 2024
If you're a coach looking to scale your business and unlock the potential to earn north of $50k a month, you're in the right place. In this comprehensive guide, I'll share the business model that has not only propelled my success but has also been a game-changer for numerous coaches I've mentored.
The Offer Stack: Building a Solid Foundation
1. High-Ticket VIP Offer
Start by defining your highest-ticket, VIP offer – the benchmark for your business. This could be a comprehensive coaching service covering nutrition, training, mindset, and more. Ensure it's scalable by managing the workload efficiently.
Tip: Price it appropriately based on the deliverables to avoid hindering scalability.
2. Mid-Tier Service
Create a mid-tier service, offering a scaled-down version of your high-ticket service, maintaining high quality and interaction. This caters to a broader audience with a lower time commitment from your end.
3. Low-Tier Offerings
Diversify with low-tier offerings, such as group training or nutrition coaching, customized programming, etc. These serve as entry points, allowing you to nurture clients toward higher-paying services.
Note: These low-touch offerings contribute to monthly recurring revenue and act as a bridge to higher tiers.
Strategic Pricing: Setting the Right Value
High-Ticket Pricing: Drive pricing downstream from your high-ticket service. Remember, the client determines your worth. Use the value equation to justify your pricing.
Mid-Tier Pricing: Set a rate slightly discounted from double your individual service coaching, promoting a seamless transition between tiers.
Low-Tier Pricing: Make it irresistible. This should be priced to give clients a taste of your services, nurturing them for potential upsells.
Breaking Down the Numbers: Achieving $30k Monthly
Let's break down a scenario where you aim to earn $30k/month:
- Full coaching at $750 with 90min/mo/client
- Individual coaching at $400 with 60min/mo/client
- Group coaching at $50/mo with 1hr total
Working 40hrs a week, you can achieve a total revenue of $31k/month while working only 71hrs a month or less than 20hrs a week.
Overcoming Barriers: Efficiency and Focus
To maximize efficiency, address the following barriers:
- Continuity and seamless sales/onboarding
- Dedicated communication channels
- Timely review and iteration process
- Repurposable and evergreen value adds
Simple, but not Easy
In its simplest form, this 3-tier business model is equipped to generate substantial income. However, success requires addressing barriers and refining your systems. Check out my other videos for insights on client acquisition and, for personalized guidance, feel free to reach out via email.
Remember, it's simple but not easy. With the right tools, guidance, and mentorship, you can elevate your coaching business to new heights. Stay Strong!
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