Ep. 90 The Coaching Formula
Hey everyone, how’s it going today? I want to start a new series; I actually started it last week on my email list. And I’m working on this new idea, and it’s all about easy to explain formulas for different online business models. And just because it’s easy to explain doesn’t mean it’s easy to do. But it will create a roadmap that’s pretty simple to follow.
So I’m thinking about creating these 10 step formulas for each of the different online business models, and I’m going to start today with the coaching formula.
Now you could technically swap out the word coaching and put the word consulting in there as well, but before I get started, I want to make it very clear that this particular formula is not for a done for you provider. I think in the next episode I will do a done for you provider. This is for someone who is selling their advice, their therapy, their expertise in a high touch one to one capacity. So that’s what I mean by coaching formula, or consulting formula.
So this also assumes that you have an expertise that people are willing to pay for. So if you are not an expert in anything quite yet, then you don’t want to start with the coaching formula or consulting formula. You’ll probably want to listen to my next episode when it comes out and do the done for you formula because that’s going to be a little easier entry point.
But let’s assume you have an expertise that people would pay for, this is the 10 step formula I would take you through. And this is not based on theory, this is based on actual case studies, working with clients that I came up with this. So this is going to take you about 18 months if you’re doing it part time. If you’re doing it full time you could do it much faster.
So the first step is simple. It’s going to be setting up your online presence on social media, since that’s the primary modality with which people use and advertise right now. That means get on Facebook, get on Instagram, for those two definitely. You many also want to snag YouTube, Clubhouse, Pinterest, etc. But for sure you want to make sure that you have your name and your social media presence really on brand for Facebook and Instagram. And do it under your name, don’t do it under a brand. Nobody knows you yet. Especially with coaching and consulting, you really want to focus on your name.
Step two, you’re going to get a domain and a professional email address. So for me it would be Julie@JulieStoian.com. You can use Google Workspace, it’s easy to get the domain and email address that’s professional. So those are the set up things that you need to do. Those are the first two foundational steps.
Now in step three, we’re actually not going to start with a website, we’re going to start with a funnel, and we’re going to set up an application funnel, of course it goes without saying that you should FG Funnels. The nice thing is we actually have a coaching consulting application funnel with the automations already built in. So it’s the actual page, it’s the calendar, it’s the emails, it’s the reminders, it’s everything. And that’s all done, all you have to do is go get an FG Funnels account.
So what you’re going to do is you’re going to sell a $3000 offer to start. It’s going to be a one to one offer and we recommend $3000 for about 12 weeks of coaching/consulting. Now that may change if you’re in an industry where that’s really high. Like if you’re teaching organizing or parenting, you may have to drop that. But if you’re in any sort of business to business, make money online, any high level expertise, whether it’s therapy, relationships, health, I would go with a $3000 one on one offer.
So you’re going to get the copy, the tech, the design, you’re going to get the application funnel launched on your domain. So that’s step three.
Step four is the hardest step, it’s the step people like to skip the most. It’s the most important of all the steps and it’s the one people resist the most, and you shall not skip it if you want to be in business. And that is to start networking through Facebook groups, through podcast interviews, social content, clubhouse, and get your first 3 to 5 clients. This will be a slog if nobody knows who you are. There will many days when you feel like it is not doing anything. I remember the first time I was, not the first time, but one of my clients it was their first time doing this step four. She messaged me and she’s like, “This is such a waste of time.” And I was like, ‘I know it feels that way, but it’s like you’re digging a hole. Eventually you’re going to hit water, but for the three days before you hit water, you’re just going to assume there’s never any water to be found.”
And I really encouraged her to set a number of conversations that she was trying to have every single day. And eventually that first client came and she’s like, “That was the hardest thing I’ve ever done in my life.” And I said, “I know, but it’ll get easier.” So step four is to network in Facebook groups, through podcast interviews, social content etc.
Now, step five. Once you have a few clients, now it’s going to be time to set up your first lead funnel. So again, you can use all the templates that we offer in Funnel Gorgeous and the free lead magnet funnel that we include in FG Funnels. You’re going to find a free offer that’s going to be something you run ads to, to start building your email list.
So once you have your lead funnel done, that’s step five, and step six you’re going to run about a thousand dollars worth of traffic, and you’re going to work to get your first 500 leads on your email list. That’s step six.
Step seven, go ahead and start emailing those leads regularly with valuable content and encourage them to book a discovery call off your application funnel. The reason why this is important is because we want to see if any of those people that you paid a thousand dollars to acquire are going to turn into one on one customers. Now if they do, that’s awesome. It means the lead magnet was good bait. If you can’t get any customers off of that email list, that could mean that the lead magnet isn’t quite the right bait for what you do. So that’s why that step is really, really important.
Okay, so in step eight, you hopefully have gotten another client or two from the method of running traffic to your leads and then emailing them. If you want to you can turn your ads back on and keep working that system to continue with lead flow.
Now step nine is sort of a little bit more advanced, but I find it works really well to go from having a base of clients to being booked solid. And that is to set up a weekly class with a limit of about 6 people and charge $50. Do something very concrete and easy to accomplish in an hour. This is going to be an introductory class where people can start to feel out what it’s like to work with you. You’re going to build this simple funnel and start talking about it on social media and email. You can also attach it to the backend of your lead magnet, once the class is ready.
And now when you’re networking, now you have several options. You have an application funnel you can send them to, you have a lead magnet you can send them to, you also have a really exciting introductory class that’s really affordable that they can come to once a week.
So step ten is to upsell people from your weekly class workshop into a discovery call for one on one coaching. And that is the ten step coaching/consulting formula. I have found that within 18 months you should be booked solid. And again, that’s with part time energy. This means about 10 paying clients, plus some leads, a few people coming to your workshop. And again, you could do it much faster if you have more time to dedicate to networking. But it’s going to work, this formula will work even if you are listening to this and you don’t even have a Facebook account yet. If you have an expertise, but you know nothing about online marketing, this will work. It is difficult to do, but it is simple to follow.
And so I think that’s really my goal for these formulas. So I hope that was helpful guys. If it’s helpful please share my podcast, tag me on Instagram, leave a review. And I will be back next time with the next simple business formula.