Okay, welcome back to the Six Figure Mastermind. Today, I have a cool series
for you in how to build a six-figure coaching business from home. You're going
to want to stay tuned for this one. In order to sell you have to have a product.
Like that's just the way it works. You can't sell without having anything to
sell, okay? So, you may be thinking, "Okay, why don't those the Six-figure coaching
business. But I don't have a thing to put in people's hands." Maybe you just have IP,
intellectual property. Maybe you just have knowledge and expertise. You know,
what you can still productize that. Let me show you how. The first thing that you
need is what we call an industry, a product pyramid or a product funnel. You
know, depending on if you make it go up or if you make it go down. Doesn't matter
either way. Here's the thing, when you start a product pyramid, you need a model
called your freemium model. The freemium model is what gets to everybody. It's how
people try you before they buy you. So, some examples of your freemium model
could be a YouTube channel. It could be a Facebook post, it could be whatever you
put out on social media that no one has to buy to get a hold of you, okay? So, the
freemium model gets out to the most people the fastest. That's why it's at
the bottom of our pyramid. You've got seven and a half billion people on the
planet. All of them can be exposed to your freemium model. Now, I got a question
for you. Do you want to work with seven and half billion people? No, you don't. I
promise you, you don't. You don't want to work with seven and a half billion
people. Because not all of them are your ideal client. I'm going to tell you more
about that in a minute. This freemium model is going to be the
entry level, okay? Once you go past the freemium model, people want to start
playing with you. They like what they see, they're trying you before they buy you.
Now, it's time to make the first purchase. Now it's time to get into the two figure
product funnel. Here's what that looks like. The two figure product funnel is
just like it sounds. It's two figures. Anything between 0 and 99 dollars. Now,
this could be anything. It could be a book that you put out, it could be
something they purchased from your blog, it could be a CD that you produce, it
could be a subscription. A monthly subscription to a course or a newsletter
or program. This is a two figure model. Now,
guess what? You got seven and a half billion people here. Is every single one
of them going to buy your two figure model? No? They're not. And that's okay. If they
did, be a whole different ball game. So, you got your two figure model right here.
After your two figure model, guess what? You're going to go to a 3 figure model.
Now, what could that three figure model be? Well, now we're talking in the
coaching space. Maybe a three figure model is they work with you on a
one-on-one basis for a certain amount of time. Maybe even it's a group thing that
will save you some extra time. Maybe it's a monthly subscription, maybe it's an
event ticket, maybe it's the ability to buy a physical product or maybe one of
your digital courses that you have multiple modules and then pods on. That's
a three figure model here. After that you guessed it, it's a four figure model. Now,
that four figure model is going to take a lot more investment on someone's part.
So, guess what it's going to take on your part? A lot more time investigating. Think
about this this way. Your freemium model is going to require the least amount of
time per person that against to. This model right here is still going to
require some time but it's not very much time. It's where you're replicating
yourself. It takes maybe eight hours to write one of your pamphlets or write a
book. Once you write that book, it gets distributed to the masses. And each one
of those people, let's say it takes some four hours to read your book, each one of
those people are spending four hours with you when you had to do the book one
time. Same with an audio, same with the CD. Same with everything else. Yes, you put
some time into it but you just multiplied yourself. When they get up to
these higher structures, they are essentially buying more time with you.
This four figure model and everything above it, that's face-to-face time. That's
one-on-one time with you or maybe even group time with you. So, the more they pay
you, the more they're going to get at you. The less they pay you, the less
time they get with you. But remember, you're multiplying yourself here. So, you
are able to spend thousands and thousands of hours after only having
invested just a few. Now, if you want to get to 6 figures, it's very simple. It's
just simple math. So, for example, if you have... Let's just call this a $10,000
product or a dollar short of a $10,000 product. How many $10,000 products would
you need to sell in order to earn 6 figures in a year? Well, you just need
to sell ten of those. If you had a $10,000 product, you would only need to
sell ten of those in a single year to get your six-figure mark. That seemed
pretty easy? Pretty doable? I sure hope so. If you're in the coaching business, that
should feel easy for you. In fact, repeat after me. Selling ten thousand
dollar products is easy and it feels great. Repeat that over and over to
yourself. Here's the next level. If you sell a thousand dollar product or you
know, let's just call this 999 dollars. We'll call that a thousand dollars
because just a one dollar short. If you had a thousand dollar product, how many
of those would you need to sell to break a hundred thousand dollars? A hundred.
It's pretty easy, a hundred thousand. 100,000 products. If you sell a
hundred thousand dollar products, you have hit the six-figure mark. Now, if you
have a hundred dollar product, how many of those would you need to sell to get a
hundred thousand dollars? You need to sell a thousand of those, okay? And make
this easier for yourself. Do you see how many more units you're having to sell
for a smaller product? That's volume. You want to do volume. And guess what? You can
stack these. You can sell ten of these. At the same time, you can sell a hundred of
these. At the same time you can sell a thousand of the different units. At the
same time, you can sell a hundred thousand of the different units. So,
you're actually able to stack with each product. Each product on its own, can get
you a six-figure income, okay? If you make these products available in different
avenues. And maybe upgrade people from different products. Here's what I
guarantee that's going to happen. You will have some people that find you on this
freemium model and fall absolutely in love with you. In the YouTube world, they
call it the superfan, okay? The superfan may jump through this pyramid and go
directly up here. That totally can happen. Oftentimes, here's what actually happens.
People will find you on the freemium model and they're either going to love you
or are they going to jump ship. And guess what? That's okay. If they go from this
freemium model, there's going to say, "Oh, I liked you. I'm going to open up my mullet
and buy your CD." I'm going to jump from this level to this level. After they buy your
CD, they're going to love you even more. So, you know what? I want to spend more time
with you. I'm going to buy your digital course. I'm going to take that course and
and I'm going to eat that up. After they buy your digital course and they fall in
love with you even more. They're going to say, "You know what? I
can't get enough of you. In fact, I want to do what you're doing. And I want to
hire you as my private personal mentor. What's it going to cost I've already of my
wallet. What's... You name the price, okay?" This happens. I guarantee this happens. it
happened to me several times this last month. This is your product funnel. What
you need to do is write down on a sheet of paper. These different dollar amounts
and assign each one of them a digital or a physically consumable product. That is
your pathway to six figures. Thanks for tuning into the Six Figure Mastermind
today. I hope this video is useful for you and I hope you've started to build
your product funnels already. Now by the way, before you go, I want you to hit the
subscribe button and definitely ring the bell so you can get the video notifications
from me. But more importantly, if you are on fire in your business and you want to
build your business to a Six-figure income, I want to know who you are. So in
the description of this video, there's a link for you to click so you can get
some information directly for me and my team to see what that looks like for you.
I'll see you soon.