I had a Consultation a few days ago with a brand new Coach who told me that even though she has taken MANY courses and worked with many Coaches…
…she hasn’t yet made her first $1k
So, today, I’m diving in to walk you through the steps for how to make your first $1k as a Coach
You might be asking yourself, “What’s the big deal with making $1k?” or you might even be saying “$1k is too little, Pam” – let me shift your perspective right now
Making your first $1k gives you a MASSIVE perspective change around turning your skills and expertise into cash!
For me, it was making my first $27 that did it for me!
Once you realize you can make $1k, you know you can make $10k. If you can make $10k, you can make $100,000.
…and so on.
The problem is that most people will never make that first $1k as a Coach because they don’t have the proper perspective
… they don’t understand the mechanics of what is required to make that money
…and they’re so focused on hitting 7 Figures that they totally miss the mark on where to even begin
Can you hit $1,000,000 if you’ve never hit $1k?
So start with $1k… then move up from there
Here are the steps that I would take – these steps should help you to stay focused, gain traction and see your first $1k in your bank account
Let’s dive in!!
5 major challenges to be aware of:
When I talk to new or aspiring Coaches, they often face 1 of 5 challenges when it comes to monetising your expertise:
- They don’t understand how to properly niche into a lucrative market
- They don’t know how to talk about what they do without rambling, instead, they talk themselves out of money
- They want to solve people’s problems but they often choose the WRONG problems to solve
- They don’t have a Social Media following – so they don’t have a ‘ready-to-buy’ audience
- They don’t have a Sales System to build their business
If you resonate with any of the above, then this guide will be your lifeline… read on!
Let’s get your foundations right!
Step 1: The ‘WHO’
The most effective way to monetise your skills and expertise is through COACHING!
There are so many times where I meet people who want to get started in coaching and here are the questions I often get asked:
- How much money can I make as a Coach?
- What type of offer should I make?
- What should I charge
These are the WRONG type of questions to ask
If you want to make your first $1k (or $10k) here are the questions I recommend you spend time answering:
- Who is it that you want to help?
- What problem can you solve for your target audience?
- How will you solve that problem
Let me break it down further:
Out of the above questions, #1 is where most people fail
So, Who is it that you want to help?
Who is your target audience?
What type of person are they?
When you first start out coaching, oftentimes the target audience is somebody who is like you or who is where you once were.
So for example, if you struggled in your business in the past and then you found success, perhaps you might want to help people who are currently struggling in their business.
Or perhaps if in your 9 – 5 you struggled with getting a promotion or going up the career ladder and now you have been able to successfully do it, then perhaps you want to help people who currently struggle with getting up their career ladder
Or perhaps if you were once a certain dress size and you finally lost some weight or you finally got your confidence back and got your mood back…
….and because of that, your life has changed, perhaps you now want to help somebody who was where you were, struggling to drop that weight
So the point I’m making is that this is a brilliant place to start.
Help somebody who is where you once were.
Once you figure out the ‘WHO’ – you then want to focus on the ‘WHAT’
Recommended: 4 Questions for Attracting Clients With Deep Pockets
Step 2: The ‘WHAT’
What problem are you going to solve for them?
As a Coach, you get paid for solving a PROBLEM
The bigger the problem, the bigger the income
These problems tend to fall into the following 3 categories:
- Health (help me get fit)
- Wealth (help me make more money)
- Relationships (help me find love)
Whilst most people who fail at this fail because they’re putting ‘income’ first, those who succeed, succeed because they’re ‘problem’ focused
This is absolutely critical.
People will pay an arm and a leg, to remove a tooth because they are having a tooth ache. They’re not removing the tooth because there’s food stuck in there, they are in SERIOUS PAIN
The reason people go to the dentist and they will do it continuously is because they have an ache, there is a pain there and they want to remove that pain. Everything else above that is aesthetics.
So when it comes to deciding on the type of problem you’re going to solve as a Coach, take a look at the following:
- What problems have you overcome in the last 5 to 10 years
- What skillset have you acquired in the last 5 to 10 years
- What questions are people asking about any of the above
Once you’ve figured out the ‘WHAT’, next it’s the ‘HOW’
Step 3: The ‘HOW’
Once you know who you want to help and what problems you’re going to solve for them, it’s time to figure out HOW you’re going to do it
Most people at this stage will say “Pam, I know exactly how, i’m going to Coach them”
Yes, I get that, but how are you going to attract the best-fit clients?
Here are some strategies for you:
1. Grow a Small audience on social media around the problem that you’re solving
The key to growing an audience on social media around the problem that you’re solving is to publish good content CONSISTENTLY
And by ‘consistently’, I mean DAILY!
My favourite platform for getting started is Facebook
Why? It’s easy to find your ideal clients if you know what to do
Find people who have built an audience around their topic and follow them to see how they do it
It’s so important to hone in your Messaging and the only way to do that is to do it DAILY!
(Note: If you struggle with what to say on Facebook, when to say it and HOW to say it, check out my this Intensive that teaches you how to use Facebook to generate hundreds of leads WITHOUT paying for ads – Here)
2. Build an email list of people interested in solving that problem
Building an audience on social media is a perfect start, however, because you don’t own any of the social media platforms…
…you want to then move that audience OFF of Facebook (of any other social media platform). Otherwise, you’ll always be at the mercy of that specific platform
An email list is something you’ll own, it’ll be an asset for your business so grow your audience on social media but quickly move them to your email list
The best way to grow your email list is by offering a ‘free gift’ in exchange for their email address
(Note: if you’re getting started with building your email list then grab my ‘Ultimate Emails That profit Bundle’ HERE – Usually $47, yours FREE because you’re a valued subscriber)
3. Make an irresistible offer to your audience
Building an audience and growing an email list is a long term game!
It’s important to get comfortable with making an offer to your audience, no matter the size!
Some believe that they have to wait until they have 1000’s of followers or email subscribers before they’ve earned the right to make an offer
The longer you wait to make you offer, the more you send out a signal to your audience never to pay you for your expertise
So get comfortable making an offer early on whilst building your audience
The key to making an irresistible offer is in your Offer Stack
Create the right ‘Offer Stack’ and you will begin to edge closer to hitting your first or next $1k
I have created 15 of the BEST Offer Stacks so you can clone it and add it to your offer. You can find it HERE
Recommended: Make your first $10k as a Coach – Step By Step
There are many ways to hit your first or next $1k!
The steps I’ve shared today are the ‘foundational’ steps. Yes, you could complicate it further but you don’t need to
Lay the right foundation and you’ll be on your way to hitting that first $1k!
Once you hit that first $1k, it becomes easier to hit the next milestone which is $10k!
I can help you hit that milestone too.
See you again next Saturday!
Whenever you’re ready, there are 5 ways I can help you:
1. Master how to get hundreds of leads on Facebook WITHOUT paying for ads here
2. Master how to enrol High Paying Clients through one simple conversation here
3. Create & Launch your own High Ticket Signature Offer and 10X Your Revenue here
4. Enrol Your Ideal Clients in 3 Days – The S.E.E.D Method Case Study – Read it here
5. Work with me 1:1 to Scale Your Revenue (Limited Availability) – NEW!!!