What's the difference between a coach
that is struggling to make ends meet,
and a coach that earns $10,000 a month?
That's the same question that, like you,
I asked myself when I started my coaching practice.
Like most new coaches, I struggled.
I struggled to find new leads,
I struggled to convert these leads
into customers and clients,
I struggled to figure out,
"How do I put myself into a pricing structure
that makes perfect sense for me
to be able to generate at least $10,000 a month?"
$10,000 a month, at that time, for me,
was a place of comfort,
it was a place where I would feel safe.
This was something for real,
this was something that I could pursue.
I just wanted to make $10,000 a month.
And I wanted to see if I could put that on a rhythm
where I would be able to continuously make
$10,000 a month.
I would have really good months, and really bad months.
I would have feast months, where I would be like,
"Yay, I'm on the right track,
this's going to be my career."
And then, I was at a place where I was like,
"Will I be able to pay rent? (chuckles)
Will I be able to actually afford this career?
Is this career real?
Is this career going to be something?"
One of the things that I've learned in my life
is that when you don't have the answer, you seek guidance.
You ask as many people, as diverse set of people
as possible, and try to learn as much as possible
because something, a moment of insight,
will come through, and you'll find what actually works.
So, I didn't have any mentors or people
around me that could really help me
with coaching, specifically,
so I did the next best thing.
I took out my credit card and I went on a buying spree.
No, I'm not buying clothes and cars.
I was buying courses, and programs,
and group coaching programs.
And I went on the spending spree
so I can find the best, the best, the best education
that I could dive deep into.
So I committed to about 10 different courses
that I would take over 30 days.
This meant I was studying
for eight to 10 hours every single day.
I wasn't doing a Netflix binge,
I was doing a learning binge.
I was immersing myself into different programs,
taught by different people,
so I could learn from as many diverse experiences
and then go, "What is it that really works for me?"
And as I was wrapping these 10 programs,
I recognized that there were certain patterns,
there were certain principles,
there were certain ideologies that were true
to all of the programs.
And that seemed like those would be the principles
that will help somebody make $10,000 every single month.
So I took these principles,
and decided to test them out in my practice.
And the first month was kinda all right.
I didn't really nail it perfectly,
but by month three, I realized that I was making
an average of $3,000 a month.
And then, I tested those principles
further, and I kept testing them.
And in three months, I found myself
at an average of $7,000 a month,
the amount of contracts I had signed.
And soon enough, in about month nine or 10,
I found myself to be at an average of $10,000 a month.
Now, these same principles eventually helped me
made a lot more than $10,000 a month,
but I wanna share these principles with you
so you can also go ahead and try
these principles in your coaching practice,
and in a few months, hopefully see the same rise
that I was able to see in my income.
The first principle is, charge for results.
When we start coaching, when we are new in our careers,
we tend to charge based on the amount of time
we'll be spending with a client.
You're trading time for money.
You might say, "My fee is $100 an hour,
and so if we spend six hours together,
my fee becomes $600."
But what if we change the narrative?
Instead of charging money for time,
you start charging money for results.
You see, when somebody gets a result
from a coaching conversation, a coaching transaction,
the result is manyfold in context
of the life that they're currently at.
If you're a business coach, your coaching
may add hundreds of thousands of dollars
to a client's life.
If you're a life coach,
it may completely save their relationship.
If you're a health coach, you may transform
their life like they have never experienced before.
Now, when you charge for something
that is that extraordinary versus for your time with them,
there're two things that happen.
Firstly, what you get to charge is a lot more.
And secondly, what the client gets to experience
is a lot more.
They don't see that, "I'm spending an hour with my coach,"
they relate their results to their coach.
And when they relate their results to their coach,
they want to keep getting those results.
This keeps your clients really interested
in having those coaching conversations
they're having with you,
because they're continuing to see those results.
The second big principle is only sell packages.
One of the classic mistakes most coaches make
is they sell their coaching by the hour.
This usually happens if you are a coach on a platform.
You'll tend to say, "Hey you can book me for an hour,
my fee will be X-hundred dollars."
And while that may seem like a good way to get started,
that is not really a good way if you want
to generate a decent income in your coaching career.
Transformations don't really happen overnight.
It takes time, effort, energy, and repeated conversations
for somebody to experience their breakthrough.
The first coaching session might not do it,
the second might not do it, the 10th might.
And so, when you're engaging with a client,
you want to always engage where you have
the greatest opportunity of creating a change
in your client's life,
so you're not limited and bound
to the anxiety of creating results in the first session
so your client re-enrolls with you.
Instead, you wanna be able to engage with them
on a longer term, so you can truly be
a part of the change that they wanna to have in their lives.
The third principle is,
see every "No" as a step towards "Yes."
most of us, when we get a rejection, when we get, "No,"
we think it's the end of the world.
It happens when you make an offer to a client,
and they say, "No, not yet,"
or "No, I don't think I'm interested in this."
We feel like it's a personal rejection.
We feel that people have said no to us,
that our value, or our service's value,
is not big enough, is why we got a "No."
But "No" truly is just a journey to get to a "Yes."
A great reframe that I heard that really helped me
was, "What if you were 100 nos
away from $1 million?
Would you be excited to get a no,
or would you be concerned about a no?"
It changed my perspective completely.
I started to wonder,
"What if I was 100 nos away from $1 million?"
And if my goal was $1 million,
well, I wanna collect as many nos as possible as quickly,
because I am just 100 nos away.
That one shift allowed me to be a lot more present
to the conversation,
because I wasn't scared if the client was going
to say "No" or "Yes" to our conversation.
I was more excited to just have the conversation,
and be indifferent when somebody said a "No" or a "Yes."
Because if I was getting a "No",
I was getting closer to my million.
If I was getting a "Yes,"
I was still getting closer to my million.
So my curiosity piqued for my client,
irrespective of the results.
I could be present to the conversation,
which allowed me to create great results for them,
and also be able to very easily, non-desperately,
make an offer.
That created so much ease between our relationships
that I started to get a lot more "Yeses".
The fourth principle is different is better than better.
When you make an offer
that's a little bit better as a service,
people just put it in the same bucket
and are willing to pay marginally better.
But when you offer a different service,
you actually address a different category of individual.
That simply means that if your packages,
if your services, if your brand, does not look
like anything else,
you are more likely to garner attention,
you're more likely to have a conversation.
you're more likely to secure a client,
versus everybody that looks like everybody else.
Or slightly better than everybody else.
Different is better than better, because it gets attention.
And if you can get attention from your clients,
you have a greater possibility to start a conversation,
get a "Yes" or a "No," and move
further in your coaching career.
And that is the single biggest reason
you want to own your full personality
in your coaching practice.
You don't wanna be like somebody else.
You don't wanna replicate somebody else's brand.
You don't wanna be even inspired by somebody else's brand.
What you really wanna do is go within,
and find what is true for you.
And only connect with your audience
with what's true for you,
because when you do that, people can feel it.
People can see your vulnerability,
they can experience your vulnerability,
they can experience your truth,
they can experience your honesty,
and they are much more likely to enroll
when they experience all of that.
And the last principle is the smaller your niche,
the bigger your market.
Most people think, "Oh, this is too-small niche,
I cannot operate in this niche,
there is too few clients in this niche,
I cannot operate in this niche."
I'm here to tell you one of the biggest secrets
that I've learned over time that has helped me
make 10,000, and even a lot more money,
is that the more you go really deep into a niche
or a category of individuals,
the larger is the market that's available to you
to actually enroll.
You see, you and I don't need millions of dollars
to be able to make $10,000 a month.
We need a few clients that're really committed to change
for us to be able to generate that kind,
or any kind of income.
And because that is the case, what you need
is a smaller market that you can really, really address,
that you can speak their language,
that you can speak to them where they feel heard,
where they feel acknowledged,
there they feel recognized.
The smaller that market is,
the easier would be your language.
The smaller that market is,
the more connected you will be
with individuals within the marketplace.
And that will allow you to really lean
into being an authority in that space,
being somebody who people look up to in that place,
people who seek council from in that place,
people who seek coaches from in that marketplace.
So the smaller your niche,
all of the market is available to you,
and hence, it becomes a really big market.
Versus, the bigger your niche, smaller the market,
because everybody and then some are in that market.
You just become like everybody else.
Find a tighter niche, a smaller audience,
so you can really leverage the big marketplace
that is within that smaller niche.
But let's be real,
you won't ever get to charge what you're worth
if you don't believe in your value.
(air whooshes) There are five
powerful techniques you can use to coach yourself,
and boost your confidence,
and we'll reveal them in this video.
See you there.