In a previous post, we had Coach Cameron Roberts outline the first four of his tips toward building a 6 figure coaching, training or consulting business. These tips are valuable for small businesses of all kind, but as Cameron has outlined, he’s dialed in to a niche within a niche, and has proven the strategies for specific business models.
The 7 Steps for Creating a 6 Figure Coaching, Consulting or Training Business in 6 Months or Less (Part 2)
Step 5 – Solve Big Problems
As a coach, consultant or trainer you are paid in direct proportion to the value you deliver to the marketplace. This value is the problems you solve.
Solve bigger problems and you can charge more in coaching, consulting and training fees.
Ask yourself these questions about your ideal clients:
- What are their fears?
- What are their frustrations?
- What are their deepest desires?
- What are their wants?
- What causes them stress?
- What keeps them up at night?
Then once you answer these questions get busy in creating product offerings around them to present to all your future prospects.
Nothing will build your coaching, consulting or training business faster than your ability to solve your prospects’ and customers’ biggest problems!
Step 6 – Compete to Win
An old sports coach once told me “2nd place is the first loser” – and while that may seem a bit hardcore, or not politically correct in today’s “everyone is a winner” society – it’s not too far from the truth of real life.
Think about the Olympics.
There’s 8 athletes in a swimming race final.
The difference between 1st and 8th in some races are fractions of a second.
The first place winner gets a gold medal and returns home to TV interviews, new sponsorship deals, and lots of publicity.
But what about 8th place who finished 0.50 of a second behind 1st place?
I mean they are the 8th fastest person in the world… certainly that’s worth something right?
Realistically we all know they don’t get the same sponsorship deals and opportunities.
In your coaching, consulting and training business – you’ve got to compete to win.
Business these days is “hyper-compeitive”.
Your competition is no longer the other coach or consultant in your neighbourhood, town or city.
Your competition is all the other consultants worldwide getting the attention of your prospecting clients.
This is a game you must play to win.
Plan to dominate.
Get up early.
Stay up late.
Never give up.
Get up, Dress up and Show up and you’ll go up!
Compete to win.
Step 7 – Be Sales Focused
Invest 20% to 40% of your working week “on” your coaching, consulting and training business rather than “in” your business.
Consultants and coaches tend to be great technicians – this is what makes them great consultants. But it can also make them lousy business owners!
As a business owner you must Master Sales!
Create a “Sales Focused” coaching, consulting or training business.
Have a look at your current prices and put them up 10% to 20% straight away.
Stop charging “per hour” and start charging “per package” or “per month” for your services.
Make a list of the different revenue streams you could create more sales from within the next 6 months.
And stop dropping your pants when it comes to your fees when you sense an objection from a prospective client.
There’s nothing that will damage your credibility more than backing down on your fees to get a prospect over the line. When’s the last time you seen a heart surgeon negotiate their fees to their patient on the table about to get operated on?
It never happens right – and if you’re great at what you do, it shouldn’t happen in your business either.
So invest 20% to 40% of your weekly business timetable working “on” your business and always keep a sales focus!
Here’s to your success – good luck with building your 6 figure coaching, consulting and training business in the next 6 months or less!
Coach Cameron Roberts
Australasia’s Leading Sales Coach and Digital Marketing Consultant
Follow Cameron on Twitter: @CoachCameron