Let me tell you, my first $5,000 Month was by FAR the most exciting month in my business.
Making $5,000 each month as a result of something I built from the ground up hardly even felt possible for me at first – after all, why would someone want to pay ME to help them when there are so many others out there who can help them with the same thing?
I had to make the choice to move past my limiting beliefs, get uncomfortable, and take the action that was needed in order to see growth in my business and reach my income goals.
Here are the topmost important things you need to do in order to make $5K months in your online coaching business:
Create your greater vision & Know your “Why”
If you want a booming business, you have to be clear on your “why” – or, your purpose behind your business.
I believe we have to be in full alignment with what we do, and the greater impact our coaching services will have on our clients.
WHY is it so important for you to scale your business to $5K months? What will $5K months mean for your life and your business? How will reaching that next level help you make a greater impact in the world?
Your “why” is going to be what supports you as you grow and scale your business. It will keep your “eye on the prize”, and will help you stay driven and motivated – even past all the bumps that come up along the way.
Get clear on your niche + ideal client
Clarity is going to be one of the most important things to nail down in order to reach $5K+ months in your business.
You need to be 100% clear on what it is you do, who you serve, and how you help this type of person with your services.
Getting more specific with your niche & ideal clients (niching down) may be necessary – especially if you are in the earlier stages in your business.
When niching down, here are a few things to consider:
- Who is the specific type of person I want to serve and how will I help them?
- What is the specific problem that they are struggling with right now that I know I can inevitably help them overcome with my offerings?
- What are the results/outcomes that my services will provide for my clients?
Contrary to popular opinion, I believe niching down is NOT always necessary in order to have a successful business. If you feel way more aligned with a broader niche, then by all means, go for it. Alignment is going to make for a much more profitable business than only niching down because you feel like you “have” to.
But don’t be afraid to niche down, just because you are worried that you’ll miss out on clients by serving a more specific audience. Remember, if you are talking to everybody in your business, you’re really talking to nobody. Your messaging should speak directly to a segmented group of people that need a specific problem solved – which is achieved through your coaching services.
Create an insanely desirable offer
Your offer MATTERS! One of the reasons you’re not hitting your sales goals could be because the offer you are promoting just isn’t something your audience wants, needs, and/or is willing to pay for.
Take the time to do the research needed to ensure that there is actually a demand in your market for the offer you want to sell.
Look to see what your competition is selling successfully. Dig through niche-related Facebook groups to see what type of questions your ideal clients are asking. Schedule market research interviews with ideal clients so you can pick their brains and come up with an irresistible offer that is exactly what your ideal clients need right now. Just never, EVER, create and sell an offer without doing the essential research first.
>>>Related Post: 4 Steps to Creating a Highly Profitable Online Course
Get productive & Implement money-making activities on a daily basis
The overwhelm can be REAL when you’re starting to grow your business. I remember when I first got started in my business, and I struggled SO much to figure out what to do with my time, and how to use it wisely.
Regardless of how much time you have to grow your business every day (whether it’s 1 hour or 10 hours), it’s important to focus on implementing the MOST IMPORTANT actions that are actually going to lead to revenue. It can be easy to get sucked into the trap of shiny object syndrome, where you spend most of your time building your website or choosing pretty fonts and colors for your branding.
Instead of spending hours a day working on your website or making cute graphics on Canva, use that time to implement money-making activities (Relationship-building in the DMs + engagement, writing promotional content, selling on stories, etc.)
Your bank account will thank you later.
Focus on audience growth & Engagement
Growing your audience and generating new leads is something that you will consistently need to do as you continue to grow and scale your business. While you don’t need to have the biggest online presence in the world to have a VERY successful online coaching business, it is imperative that you have an audience of highly engaged and targeted followers who will actually be interested in your offerings.
Focus on building your online following with quality followers over quantity. Meaning, focus on building an audience of ideal clients, instead of focusing on getting everyone and their mother to join your email list and follow you on Instagram. Remember your follower count is just a vanity metric – and vanity metrics will NEVER be the thing that pays your bills.
I typically recommend that you choose one or two social media platforms to dedicate most of your time to, instead of trying to tackle every single platform. When choosing your primary social media platform, keep your ideal client in mind – where are they most active? Where do THEY spend most of their time online?
You should also focus on building your email list from the GET GO. Your email list is going to be the most valuable asset (you heard that right), as your email list is the only audience you actually OWN. Your Instagram and Facebook followers? Yeah, your good ole’ friend Mark Zuckerburg owns them, And he can make huge algorithm changes, delete your account, or even get rid of the entire platform at any given time (unlikely anytime soon, but let’s think long term here).
Play it safe and start your email list. You can start off with using Mailchimp for free, but I highly suggest checking out list providers such as ConvertKit, Constant Contact, or ActiveCampaign, as Mailchimp offers limited flexibility and is generally harder to use.
Learn Sales & Marketing
Regardless of whether or not you are in the marketing niche, if you have a business, you need to learn how to be a MARKETER!
You can have the most incredible, value-packed offer ever – but you can’t expect it to sell itself. It’s up to YOU to take the initiative to promote your services!
It’s imperative that you talk about the ways someone can work with you on a regular basis. You should be shouting from the ROOFTOPS about your services everywhere you have a following. Send out emails to your email list, post to Instagram and Facebook, write out blog posts, etc.
Sales don’t have to be hard or complicated. And they don’t have to be icky or sleazy. Remember to sell from a place of service, not a place from desperation.
Map out your profit plan
How and where are you going to generate the revenue that will stack up to a $5K month?
This is where it gets technical. You need to know what offer(s) you are going to be selling, the price per sale, and how many sales you will need to make in order to achieve your income goal.
Once you’ve mapped out your profit plan, create a strategy, and take every action necessary in order to make your $5,000 month come to fruition!
Consistency
Okay, you get it, you get it. You’re probably tired by now of hearing that “consistency is key”.
But I want you to really think, and ask yourself if you’ve been guilty of this:
One week you’re SUPER motivated and bang out a bunch of content. You get on IG stories daily, send out a million emails, and do *all* the things to get highly visible. But when you don’t immediately see the sales rolling in, you start to fall off. And the next week you only show up twice. And before you know it, it’s been a month and you haven’t promoted anything.
You NEED to show up regularly if you want to see that fast & consistent growth in business. Lack of consistency is the #1 reason why new businesses fail. So instead, create a visibility plan, and actually STICK to it!
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