How Make Your Coaching Business Profitable

How do you make your coaching business profitable? You know, there are multiple factors to it, and in this particular podcast, I'm going to go deep into it and break down as much as I can to help you get that awareness like never before. And today, a lot of coaches I'm seeing in the market are burning their money because they're not able to understand how to really be profitable. Okay, in this particular podcast, I'm going to be sharing with you 11 different ideas on how you can make your coaching business more profitable. And we have been super profitable right from day one and we continue to be profitable at, you know, 6x to 8x in our overall profitability from the time that we started till today. And there are some months we have even taken the profitability to, you know, 15x20x in our ROI in our business because of the way that we have structured the business. Okay, now first let's understand what, from where does profit come? Profit comes from value exchange. When people see the value in what you're providing, only then they're going to be giving you money. And if you can exchange that money for incredible value and you do that continuously, that's what will add up to your profitability. Kitty. Okay, and another one, another perspective to profitability is every money that is saved.

It goes to profit. Okay? Or in other words, when you are able to have them. When you're frugal with your money, especially in the beginning stage, yeah, you can invest in your learning, invest in tools, invest on the essentials of your business. But when you're very watchful of your money management and exactly where the money is going and paying your taxes on time and all of that, that stuff, you are going to be making that into a habit and that will compound into a profitable business. So number one is you got to build a great product. Ideally when you build a membership based product that is a kind of a product that where the value exchange is really high and you can keep the costs also very, very low when you're going to be launching a digital product, which is ideally a membership. And when I say building a great product, there are many attributes of a great product. Number one is, does it have an X factor? Two, Two is, does the product, you know, is it able to get results for others? Number three is your delivery style in a product, especially in a coaching product, it's about the way you're able to communicate, the way you're able to, you know, structure things where people are able to see the value and the way, you know, the value per minute of every minute that they're spending with you. Okay, so that's the first piece. The second point is create an ascension model like a combination of a low ticket product, a mid ticket product and a high ticket product. A low ticket product is anything under 10,000 rupees, a mid ticket is anywhere between 10,000 to 20,000 rupees. And a high ticket product is something which is above 50,000 rupees in value. Even go to 1 lakh, 2 lakhs for it to happen. Because if you're able to get even a few high ticket sales every single month, that will be the profitability that you reinvest to acquire more low ticket customers. So the essential model is important. You can directly do high ticket, but again if you're directly pitching high ticket, there's going to be execution time, there's going to be delivery time, and there's a limitation on scalability unless you build teams and stuff like that. And for me, I've been able to scale with a very lean and mean team because of having a combination of low ticket to acquire customers on the front end and a high ticket back end product. Number three is if you want to make your coaching business profitable, you need to get your message to market to offer match, right? Okay. If your message to market offer is, I mean if your message to market match is not there, you'll have less people coming to your webinars. If your market to offer match is not there, you'll have less conversions. So for that you got to get good at short form videos and recording video ads to attract the right people so that you can lower your cost per lead, keeping it under 100 rupees per lead or even under 60, 70 rupees per lead, which is what my cost per lead right now is around 70 rupees per lead. And I'm able to generate anywhere between 500 to 1,000 leads every single day. Because. And the second part of getting the message to market offer match, right is to optimize your landing page for speed and for a high opt in rate. So for every hundred people that come on my landing page to give their lead data, 40 of them give their information. So my landing pages are converting at 40% because of the right targeting that I'm doing in the ads and the way that I'm recording the videos for the ads and also the speed at which the page loads and the messaging on that page that that has a good connection with the target market. Okay, number four is just not running ads is not good enough. You Got to nurture your audience with extremely high valuable content to win trust and authority in the marketplace. For example, I'm recording this podcast so that I can give you a lot of information. And even if you're not in my community, just by listening to this podcast, you'll be able to connect with me as a person. And there's a high chance that you're going to be coming to my webinar and you're going to be, you know, getting into my community. Number five, you got to get really good at selling at webinars Webinar selling formula. I have a 90 minute formula that I share in my webinar selling formula course, my gold membership where I actually break it down minute to minute. What you should sell, how you should sell, how you should structure the webinar, how do you deliver an offer and how do you really get people to buy. And that is a science by itself own. So you may be very good in your knowledge, but if you're not able to sell, that's where profitability actually lies. Number six, if you want to make your coaching business profitable, you got to get really good at selling high ticket in both one to one and one to many. In fact for me I do something called as a diamond showcase. Now if you are not a member in my community, please come and check out my diamond showcase by going to SIDS co Diamond and learn more about my three year certification. And that's my high ticket program and I do it in a one to many sales process. Now even if you're in my community as a silver or gold member, I would highly recommend that you go through the diamond process so that you can accelerate your journey. And for me to design this high ticket product, it is not a one to one based product. It's a, it's a highly scalable high ticket product because I'm selling certification and I'm selling the journey for people to up their skills like experiencing a three year university like, you know, program to actually get results. So when you get good at selling one too many high ticket, your scalability goes to a whole different level. Number seven is if you want to make your coaching business profitable, create more success stories. It's all about your student results. When you create more success stories that will help you attract more customers. Go and check out my YouTube channel. There are so many hall of fame interviews and now I'm launching every week there is some new video that I'm launching called Freedom Talks and you can go and check it out. Number eight, keep improving your products and increase the price of your high ticket products. Like I started at 50, 60,000, then it slowly went to 80,000, 90,001 lakh. And now my high ticket product is at 3 lakhs for 3 years and I give a scholarship bonus of 1 lakh of people are getting in, you know, and I keep increasing the price and my conversions have never dropped. It just kept moving because of the results that are coming in the community. And I kept increasing based on what I feel will be the best value for my customers. And of course when people pay that high ticket amount and come in, they get that kind of a high ticket experience and they get that high ticket, you know, impact and growth in their business. And if you go and check out my trustpile reviews, you know, we've just touched over 7000 plus reviews at 5 star rating which is very, very hard to get. Number nine, if you want to increase your coaching business profitability, launch a high ticket mastermind that is anywhere above 5 lakhs, 10 lakhs per year. But to get to that high ticket mastermind you got to have a lot of, you know, content and stuff to actually build a high ticket mastermind. Like right now we have a mastermind of more than 100 people who are paying 7.5 lakhs, 8 lakhs, 8.5 lakhs plus GC, that's around 10 lakhs a year. So we are able to have an annual recurring revenue of anywhere between 8 to 10 crores a year with this small group of hundred people that I'm catering to. And that really adds to the funnel stability. It's a funnel stabilizer and that adds to the profitability of the overall funnel. So I have a low ticket, I have a mid ticket, I have a high ticket and I have a super high ticket after that. Okay. But it took me around five years to get to this stage and this is what I teach. For those of you who really want to know how to build that kind of a high ticket for yourself, you can, I would highly recommend that you be my diamond member. Understand how to build it. In fact, there's a course in my diamond membership called high ticket mastery where I'll tell you exactly how to launch a scalable high ticket mastermind kind of a product that does not require you to spend so much of time, that allows you to scale, but for that there's an entire journey you need to go through. Number 10 is whenever you're making profits, reinvested into community experiences and events because that will add to your profitability. Every time I do a large event, I do an FBR with 6, 700 people. I get so many people who jump into my diamond membership without even selling it. You know, I pretty much it sells on its own because of the live experience and the impact that they're able to experience. And finally, number 11 is if you want to make your coaching business profitable, reduce your customer acquisition costs by empowering and building a partner program only with your only with your high ticket customers. For example, I have a Silver, Gold and Diamond membership and I have a partner program only in my diamond membership level because and that do it's optional only if people want to promote it, they will promote me. So I have an entire team of, you know, members are promoting me as partners and I also have alliances with success Gyan, my mentor Blair Singer and others. And that really helps me reduce my acquisition costs. So I'm not just depending on one traffic source. I have my paid marketing, I have my organic marketing, I have my promotional partners as my DAM members as and I also have alliances, strategic alliances with other members. So if you want to make a coaching business profitable, don't focus on profits, focus on customer experiences, focus on the value for money and focus on building your craft and analyzing your business at every single level. I hope you found this podcast useful. Please subscribe to me on Apple and Spotify for more episodes like this and really wish you all the best on becoming a profitable business in the coaching world. All the best.