190: Scaling A Coaching Business To $10k/Month - #GrowYourLife

Hey, everyone. Thanks for listening to the Grow youw Life podcast. My name is Jared Mike Rakowski, and if we haven't met yet, I've been helping coaches, trainers, mentors and authors scale their businesses and brands to tens of millions of dollars online for the last 19 years. And I want to help you break past what's stopping you from growing and scaling your business. Today's episode is actually all about that. How do you scale a coaching business to 10k months? That's $120,000 a year. That's a. It's a pretty good income from a coaching business, especially if you can do so working only five to ten hours a week. And our clients, that's what they experience. In fact, we have a client that's made over a million dollars in one month working just five to ten hours a week. And it's scalable, it's sustainable from the beginning. So what I want to show you how to do is how to get started on the right foot, doing the right activities from day one so that you don't have to struggle, so that you don't have to come back around and say, man, I wish I knew this when I got started. And so if that's you today, if you're not making 10k a month in your coaching business, I'm going to give you my key steps that you need to start scaling your business to those 10k months. And so what am I doing right now? I am walking around my neighborhood because I've found that I can actually make better podcast episodes by simply going for a walk I and talking while I do this. So come along with me. Come along on this journey. When I started my coaching business, I was in a unique situation because I had been working with my mom. We had scaled her business to over $20 million. And my experience was as CEO, I also did all the marketing, I did all the advertising, I wrote all the emails, I wrote all the sales copy. I was creating all the ideas for the basically everything that she wasn't doing. What was my mom doing? My mom was showing up on camera, teaching the content and actually being the face of the brand. And I was the one kind of the man behind the curtain running all the stuff behind the scenes. And when I started my business, I didn't realize how hard it was to actually get results and scale to 10,000amonth. In fact, my coaching and course business only made about two grand a month. Some months only a thousand bucks a month from coaching and courses for like three years. And I was dealing with Even imposter syndrome. Like, man, I know what it takes to scale these coaching businesses. In fact, during that time, we had a client, his name is Rick Pino. He's the one that was making over a million dollars a month. We helped him scale from his initial launch was about 6,000amonth, all the way up to a million dollars a month in four years. And I'm like, okay, I've helped all these people do it. Why can't I seem to do it myself? And actually, that was one of the biggest factors for me for scaling was I had to make myself a priority. I had to make my business a priority. I had to say, okay, I love Rick, I love the clients I work with, but I have to make me important, not them. And that is hard to do, especially if you've been trained as a pleaser, as a people pleaser. If you've grown up to where making other people happy equals your self worth. And that's how I grew up, in a performance for love type environment where if I perform well, then I'm worthy of love, then I'm worthy of acceptance. And a lot of people grow up in that. And so that's one of the first things. Setting boundaries and learning to manage your time to put yourself first before other people. We have messages in our culture, in our society that tell us to not do this, to not put ourselves first, to put other people first. When it comes to you being an entrepreneur, you have to put yourself first. You have to make yourself the supreme priority or you will not grow your business. And this is one of the number one reasons why people think that it's too hard to build a business, because they're actually just afraid. They're terrified of being judged by their friends, being judged by their family as being too selfish. And so that's one of the first things that I've seen, and here's the truth. When you are a little bit more selfish for yourself, you're actually gonna be able to take care of others better. Here's a perfect example of that. By me making myself a priority, we were able to grow our business to multiple six figures. And now I'm able to hire help around the house so that I don't have to spend time working around the house, doing stuff around the house, because we have people in our house that are helping do stuff. And so by making me a priority, our business grows and scales. And so that's one of the first things is making you a priority. Now the second one is this promotion promoting your business too Many coaches and course creators don't promote their business enough. They're not putting themselves out there enough. They're not making offers enough. They're not advertising offers for people to get on their email list enough. And this is why they don't have clients in their business. They're just expecting people to say, well, you're a good coach. They're expecting people to buy osmosis, be like, well, you got this coaching thing, you got this course. I'm gonna come to you when I need it. And people are just gonna show up because you're an amazing person. And that's not reality. That's a fantasy that doesn't exist. And so when I started promoting my business, when I started, like, actually working through the six steps that we talk about, finding your niche is step number one, okay? And the only reason people get stuck on finding their niche is because they're afraid of it not being good enough. They're afraid of it not producing a result. Pick something and start there. Don't let fear run your life anymore. You cannot allow fear to dictate your choices in your life and your business. And a lot of people allow fear to stop them from even picking a niche. And so then it's like, well, how are you going to build a coaching business if you don't even know what you're going to coach on? And they're afraid of choosing the wrong thing. This often comes from being either punished because they made a mistake, fear of making mistakes, fear of messing up. Or could be if you have a religious background, that you're like, well, I don't want to take the wrong path. It'll lead to destruction, right? I don't want to miss the mark in my business. And this thinking, we got to get rid of this thinking and rip it out of our head because it's not serving us, it's not serving you, and it's not serving those that you can help by operating in that way. And so pick something as your niche. One of the best ways to decide a niche is to go on Amazon and look up, you know, what other people in that niche, what. What books are out there, what topics are they sharing on? And then the next step is writing your offer copy. It's not planning, it's not mapping out your coaching program. This is where most coaches and course creators get it wrong as they spend so much energy mapping out their coaching programs, planning out their course, planning out their training, coming up with what? Like trying to be an excellent coach when the fact is you can't do that unless you got people to coach. You can't do that unless you got people to actually teach, unless you got people to actually buy your courses. And so a lot of people are literally just guessing and spending. I, I know a lady right now, she's now on year seven of mapping out her course. And every time I talk to her, she says, I'm laying the foundations down. I'm getting the foundations, I'm getting the foundations going. I'm sorry, but you've been getting the foundations going for this long. And I got clients that are making millions of dollars the whole time that you've been sitting around coming up with the foundations. And I don't mean that to be harsh, but honestly, that's more tied to and connected to mental health than actually a lack of strategy. It's more tied to worry and fear and possibly trauma and unresolved trauma, the inability to actually make decisions and the fear of making the wrong decision than actually having a lack of strategy is why that is. And unfortunately, this lady is not receptive to that. I've, I've shared this numerous times. She's just. No, Jeremiah, it's just I gotta, I gotta, gotta be perfect. Gotta be perfect, Gotta be perfect. I'm sorry. But perfectionism is also tied to many times unresolved trauma and abuse. It's not a spirit of excellence, it's not a spirit of, of being outstanding at your work. It's fear and insecurity and worry that you will get punished, that things will go wrong, that you will get hurt, that you'll waste time and you'll waste money if aren't perfect. Imperfect action is what produces results. Launching imperfectly, not worrying about looking good to other people, not concerning yourself about being perfect and just putting offers out there. And so what I teach people to do is you come up with your niche and then you write offer copy. You come up with the offer copy based around what your target customer wants and you build something to capture their name and email address. And by doing that, you then what we like to do is we use virtual events to where if you're doing like a one day event like I did this past weekend, or you might do a three day event around a specific topic that you're coaching on, around your niche, around the result that the person is actually wanting. And what this does is this gives you an opportunity to actually then sell to your prospects, to actually make a sales presentation to people. If you're not getting people's eyeballs in front of you to make A sales presentation. How do you expect them to buy from you? You're not Apple Computer. They spend billions on advertising. You're not Microsoft. Your business and your branding is not going to be awesome enough to get people to just make a decision to become your custom simply because you're just awesome and amazing. So you have to actually promote and then sell and get people in front of you. Get people to actually show up in front of you to where you can present to them a sales pitch and then sell them on your coaching and your courses. And we recommend that you do at least $1,000 as the price point in this economy, you have to do it at least a thousand dollars or you're devaluing yourself. And this is where people get stuck in their brain because they're like, well, I don't have anything of value enough to charge a thousand dollars for because they're comparing themselves to other people and they're allowing stupid academic teaching to tell them that they're not worth being paid that much. And they're allowing this belief that they need to become more enlightened to a certain level before they're good enough to be able to charge that much. And I'm here to say that's a complete lie. You don't need to be an expert to make six figures as a coach. You don't need to be an expert to make the kind of money that you want to make. You just need to know a little bit more than somebody else who's a little bit further behind you on the path that they're on, and then get a bunch of those people in front of you. Sell to them an opportunity for the results. And by the way, you can't guarantee the result. Nobody can, because you can't guarantee that they're actually going to take action. So get that out of your brain that you need to make sure that you can guarantee a result before you can sell it. This isn't a matter of integrity. This is called business. Get it out of your brain that you have to be able to make perfection happen. The fantasy idea that unless you can make people become your customer, that unless you can make people do what you want, that I can't market, I can't sell, and I can't make an offer. This belief that it's your job to make people do what they should, and that as a coach, as a course creator, that unless you can make people do what they should, that you don't have the value or the worth to market to people. That belief limits people. It's a complete lie. It comes from again, academics, it comes from college, it comes from corporate America where we're comparing ourselves, where we're constantly judging. And honestly, when you let go of the judgment that you've had for other people, when you let go of the fear of judgment from other people, you let go of the fear and worry of consequences from other people, you become an unstoppable force when it comes to you marketing and selling your coaching and courses online. And so I want to encourage you, if you're somebody that's a course creator, that's a coach, that's a mentor, and you're stuck and you're saying, I don't know how to scale to six figures. Address the beliefs that are limiting you from actually doing the activities, address the beliefs in your brain that are telling you, I'm not good enough yet to do this. And I'm here to tell you, you are good enough right now as you are. You don't need to get any better now. You will improve over time. That's important to do that, but you want to do that in the process. And what we recommend people do is pre sell their coaching, their courses, pre sell their training before it's finished. Get some clients, get some people that will give you feedback because then that feedback loop will allow you to actually create better offers, better marketing and attract better clients. Stop waiting until some fantasy land moment where you got it all figured out and it's all mapped and all planned out and just start doing the basics. Just start getting the ball rolling, just start moving the needle forward and the rest will work itself out. Now how do we actually find these people that are going to spend money with us? How do we actually find the people that are going to become our clients? Well, we run ads, we use paid advertising to actually find those people. TikTok, Instagram, Facebook, Twitter, ads. And by doing this, when you know how to run ads the right way, you're able to train the algorithm. This is why your offer copy is so important. You're able to actually train the algorithm to show your offer, to show your virtual event, to show your your lead magnet, to show your webinar, to show your offer to the right people at the right time. And so what it is, is the algorithms are actually going to show your offer to people that are actually wanting what you're putting out there. And then you don't have to worry, well, is this going to show to the right people or not? Because when you do it the way that I teach you, the way that I show you the way that I work with my one on one coaching clients to do. You can have confidence in knowing that you're doing the right steps, that you're following the right order. Now, is there a risk? Of course there's a risk in anything. There's a risk of you losing money, there's a risk of it not working, there's a risk of it not producing the results that you're actually wanting. That's part of the process of building a business. There's no such thing as certainty in building a business. And so you got to get rid of that BS lie that comes from corporate America, that comes from college education, lie factory that tells you that there's such thing as certainty in business. And so, and then be willing to say, okay, I'm going to take a risk. Now, don't run ads more than you're willing to lose. But what we recommend people do is, is wipe out some debt off your credit card. Wipe out a little bit off your credit card. So then you can run ads with a small portion of that credit card and then pay it back off of the sales that come in. And that's why you need to actually sell your offers for a thousand dollars. Because you're not going to bring in enough money. If it's not a thousand bucks, you're going to lose money. This is our experience that we are seeing right now. And so if you want to actually make the kind of money you want to make, if you want to actually be successful in your business and you don't want to struggle and worry, is this going to work? Is this going to produce a result? You need to actually charge enough so that there's profit margins. You need to actually charge enough so that when people buy from you that there's enough to pay for your ad spend, so there's enough to pay for your marketing. See, a lot of people are like, well, how do I make money without spending any money in the coaching and online course business? Organic marketing doesn't work the way that it used to. The organic side of doing things doesn't work the way that it did back in 2014, back in 2012. And so we have to start to utilize what's in front of us now. Sure, you can use TikTok, you can use Instagram reels, it will show your content to people, the algorithms will show your content to people. But they're not going to go viral like they used to. This is not 2012, this isn't 2016, this isn't 2018. And so it starts with creating strategic offers that people want creating strategic offers that people give you their email address for. And then you solve a problem for them at a virtual event to where they come to an event with you for one day, two days online on Zoom. They meet you on Zoom, and then you can make a sales presentation to those people. And this is the process that we're using that's scaling businesses to tens of millions of dollars. That'll help you scale. You're like, well, I don't want to make tens of millions of dollars. I just want to make 6 figures. I just want to make 10k a month. This will help you get there. This is the process that will get you there. It's the exact same, like, overall strategy works. And so the question I got to ask you is, when I've been talking about these steps, why won't you do them? Why aren't you doing them right now? Answer those questions for yourself. Why are you gonna let 6 to 12 months pass you by and not do what I've talked about? It's always, always, always related to some kind of a belief of inadequacy or, and I hate to say this, it's pride. Your ego is so stuck so far up your butt that you're like, I could never do what Jeremiah talked about. And if that's the case, I'm surprised you're even still listening to me at this point. But for everybody else, it's always, always related to fear. It's always related to worry. It's always related to fear of how am I going to be judged by my friends? What are people going to think about me? Are people going to hate me? Are they going to ask for their money back? Are they going to get mad at me? Are they going to get angry? And we allow these fears to stop us from actually building, growing, and scaling our businesses. And so I want to encourage you, stop letting your fear run your life. Stop letting worry dictate what you can and can't do. And start to do the steps, finding your niche, writing your offer copy. We use Jasper AI to use artificial intelligence to write the offer copy. You don't even need to be a marketing expert to write those words anymore. You can use artificial intelligence tools that are just as easy to use as Microsoft Word to actually connect with your target prospect. And then you create a landing page that gets people's name and email address. And then you promote it out to people and you sell your offers. Why aren't you doing those steps? Why are you not Well, I don't know what to do. I literally just told you what to do. So, like, get more specific. I don't know what to do. What does that actually mean to you? Like, I need you to sit with this for yourself. I need you to actually answer that for yourself. Why are you not doing this? Anybody can do these steps right now. They don't need to change or grow or do anything different in their life. The only reason people won't is because fear and because they actually enjoy their fear and because they're addicted to the fear and worry in their life because they don't know any better, because they don't know any different. And as soon as you break up with that, as soon as you say, I'm going to be intentional to not let fear and worry control my life, I'm going to be intentional to actually grow my business. That's when you start to see results and that's when the magic happens. Now if you're somebody that says, I want some help with this, I want you, Jeremiah, to walk me through this process. I want you to show me what to do. I'd love to work with you. You can join one of our free events that we're doing. You can get on the waiting list for my group coaching program. You can schedule a VIP day where I come in and we work together for a whole day to help you build your business together. If this has helped you at all, share this with somebody. If you know a coach, a course grader, somebody trying to make six figures online doing this, share this with them as well. I think it'll really bless them very life. Everybody, we'll talk soon. Have a good one.