Once upon a time I was a nobody. And in the past few months I’ve skyrocketed to fame and I think I can trace it all back to the time I appeared on Coach Cameron Roberts podcast. Okay, so maybe skyrocketed isn’t quite true. And maybe fame isn’t the right word. But I was on a podcast with Coach Cameron and it was awesome. Here’s why: He’s super smart. Coach Cameron runs a consultancy in Australia, is an Ironman athelete, hosts a podcast, and has helped thousands of entrepreneurs. He’s a multitalented digital renaissance man and I was honored when he agreed to write a post for the Monkeypod Blog.
The 7 Steps for Creating a 6 Figure Coaching, Consulting or Training Business in 6 Months or Less
If you’re reading this, there’s a good chance you’re in the coaching, consulting or training industry.
But are you taking advantage of the opportunity to capitalize on what is a $200 Billion Global Industry?
The sad fact is many coaches and consultants never really make serious money.
Most are struggling to make $40k, $50k or $60k per year…
So how do you quickly flip your consulting or coaching business around so you go from making $50k per year to $50k per month?
That’s a great question. Glad you asked.
To help you out – I’m giving you my 7 Steps for creating a 6 Figure Coaching, Consulting or Training Business in 6 Months or Less.
And it all starts with the most important step of all…
Step 1 – Adjusting Your Attitude
Being a leading sales coach and marketing consultant – I love studying the human mind and the truth is that most coaches and consultants are not “sold” on their own services. They don’t back themselves. The vast majority act like a personal trainer for business owners when they should be acting like the heart surgeon.
It’s a mindset shift – you’ve got to adjust your attitude.
I recently discovered that we have 12,000 to 60,000 thoughts per day and 98% of these thoughts are the same thoughts we had yesterday!
What’s more alarming is that 80% of these thoughts are negative!
So the first and most important step is to adjust your attitude.
The reason is simple.
All success starts in your mind.
You must be able to believe it before you achieve it. (I know, corny, right?)
If you can’t see yourself being a 6 figure coach, consultant or trainer – you’re limiting your own income potential.
Many years ago I adopted the habit of writing my financial and business goals down daily and it’s served me very well. I’ll also take 5 to 10 minutes out of my day, to visualise these goals “as if” they have already been achieved.
Then I’ll “act like” I’m already the person I want to become!
You should do the same thing.
Take out a piece of paper and write down all the goals you are COMMITTED to achieving in the next 3 months, the next 6 to 12 months and the next 12 months and beyond.
These form your short, medium and long term goals.
The main thing here is to only write down the goals you are 100% committed to achieving. This is not some “big dream for your life” or “vision board” – do that somewhere else.
This is an execution plan for driving your business to the next level regardless of what you go through, what the economy goes through or what your competition throws out you. It keeps you on track.
You’ll also want to listen to positive speakers, coaches and trainers who inspire you. With 80% of our daily thoughts being negative – you’ve got to be proactive about inserting some positive thoughts into your mind.
Then invest big in coaching yourself.
Here’s the odd thing about some coaches…
They dream of making lots of money but they won’t invest in other coaching programs and mentoring.
How do you expect to charge your clients $1000, $2000 or even $5000 per month if you flinch about paying a mentor the same (or more) per month?
I’ve had coaches and consultants contact me asking for help to grow their business but then tell me they don’t have the “budget” for that level of mentoring…
Talk about a money mindset block!
Let me make this crystal clear – your income as a coach or a consultant is capped to the level you’re prepared to invest into your own coach or mentor.
Want to charge $5000 per month to your clients?
Find a mentor you can pay $5000 per month to show you how it’s done!
Do yourself a favour – find a coach, consultant or trainer who is already getting the results you want and them pay them whatever they want to show you how to get the same results.
It’ll be the fastest way to grow your coaching, consulting and training business.
Step 2 – Define Your Niche then Drill Down Deeper!
To succeed as a coach, consultant or trainer you must specialize. No-one wants to pay big money for a generalist.
Consider the difference in fees between a general practitioner Doctor and a Heart Surgeon – even though they are both “Doctors”, which one earns the big money?
You need to stop being the “generalist” and start being the “specialist” – you need to become the heart surgeon of a niche market.
Then once you define your niche market – you need to drill down deeper.
You need a niche within a niche.
When I was a teenager I had a passion for competitive swimming… and this is where I first learnt about becoming a specialist and competing in a niche within a niche.
In swimming there’s over 5 freestyle events ranging from 50m to 1500m and there’s 3 form strokes (Fly, Back, Breast) that have 50m, 100m and 200m races and then you have the 200m and 400m Individual Medley. So in total there’s over 16 different races you can do and each require a very different type of preparation and training.
My old swimming coach use to say to me “Cameron – you can me a jack of all trades or a master of one, but you can’t be both”
So I “mastered” the 200m breaststroke.
My sport was swimming. My niche was breaststroke. My niche within the niche was the 200m breaststoke.
I’ve down the same with every business model I’ve ever owned and operated over the last 15 years – and I help my clients do the same, because that’s where the money is.
It’s like drilling for oil – sometimes you’ve got to drill deeper to strike it rich!
Step 3 – Create an Avatar
Once you define your niche within a niche and you have a clear picture of your target market – you need to create an avatar of “who is your ideal client” within that niche market.
The truth is, you are not right for everybody in your market.
And not everybody is right for you!
So put pen to paper and describe your ideal client.
Who are they?
Where do they hang out?
What do they enjoy doing?
What are some of their character traits?
What problems do you solve for them?
Get a clear picture of who your ideal client is – then create all your marketing messages, your sales dialogues and your business around them and for them.
It’ll stop you wasting valuable time taking on the wrong clients and you’ll be able to get better results for your ideal clients.
Step 4 – Build Your Brand
If you’ve completed the previous 3 steps then you’re ready to start building your brand.
Consider where you’re ideal clients hang out the most and be where they can see you.
Play hard on social media, Facebook, Google and Linkedin but don’t forget about some of the more traditional ways to network and build your brand.
Join traditional “offline” networking groups, attend business breakfast events, join community groups and even consider becoming part of a business group or chamber of commerce.
People want to do business with people they know, like and feel like they can trust.
The intention is not to sell your services to the people you form relationships within these groups – but to position yourself as the “go-to-guy” or “go-to-girl” for what it is you do so they can refer prospects to you.
We’ll be back in a few days with tips 5, 6 and 7. In the meantime, start mapping out how you can integrate this first four steps into your business growth plans. And as always feel free to ask any questions below!
If you’d like to contact Cameron Roberts, Australasia’s Leading Sales Coach and Digital Marketing Consultant, you can find him at:
Follow Cameron on Twitter: @CoachCameron
What a great summary of advice for coaches and consultants, which I can totally relate to as I begin my journey as a coach of coaches as opposed to athletes. Thanks!
Glad to hear it Nick. Thanks for the feedback!