Episode 85: The Blueprint to a Profitable Coaching Business

Ever imagined running your own successful coaching business, potentially raking in half a million dollars a year? This episode is your golden ticket, offering an insider's guide to building such a business, from the ground up. And who better to navigate this journey than yours truly, having personally made over $50,000 using various coaching modalities. I’ll be the compass in your venture, pointing you towards the best methods, be it one-on-one coaching, group coaching, or membership style coaching; no stone will be left unturned.

I know what you're thinking - it's not just about making money, it's about making connections. Well, you're in luck! I will also be unveiling my secrets on establishing a robust client base, pricing your services aptly, and launching a group coaching program that guarantees results. As someone who has walked this path, I’ll share how I garnered the trust of my clients and how I crafted my group coaching program that resonated with the needs and aspirations of multiple people at once.

But, how do you attract an audience? Content creation is the key, and I’ll guide you on how to use your personal story to draw in the people who need your help. Remember, your story can be the beacon that lights the path for others. We'll also tackle the fears that hold you back and lay down strategies for building a solid foundation for your business. So, fasten your seat belts and prepare for an exhilarating journey towards realizing your dream of a flourishing coaching business. Join us, take action now and let's catapult your business into the stratosphere together!

WHOOOOAAAA!!!! ANOTHER AMAZING EPISODE! Yes and more yes!!!

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1. Do you need help? Like REAL help with your life or business and don't know where to start?
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3. Are you connected to ours or our CEO's INSTAGRAM or Facebook ... here you go for her's business pages and here is our's.

4. Youtube - WHY YES... we have a WHOLE lot to say there... here is our favorite.

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Transcript

Speaker 1: 0:00

Right now you're saying to yourself I think I could coach someone, I think I could do that. I think that I could help them accomplish their goals. So you want to be a life coach? Got it. You want to be a business coach, you want to be a health coach, you want to be a marriage coach, a parent coach, a parent with dyslexia coach, a dot dot dot.

Speaker 1: 0:21

Coaching is one of the greatest things that I ever embarked on, and I would have never, even a million years, believe I'd be a great coach. But the truth is, here I am, having made over a million dollars in coaching people to get to their next level. Now I've made way more than a million dollars doing it. But my point is that if you would have told me in my previous life that I'd make a million dollars by teaching people what I know, I would have laughed you all the way out of my room. But here I stand today in the front of something called do the damn thing, and it's a movement, and it all came about because I made a decision to coach somebody. So in this particular episode, I'm going to walk you through the half a million dollar game plan, the. How do you build a half a million dollar a year coaching business. Hey, you welcome to build the damn thing, a place where myself, tiffany, largy and our amazing do the damn thing coaches show you how to use your story to build it all, whether it's your first six figures, your next layer of multiple six figures, or maybe you're on your way to a million, and if it's not bad, it's the life of your dreams, when you are free, you are strong and you are whole. First, we're going to show you how to use your story to build a strong foundation, and then, next, we're going to show you how to use your story in sales and marketing to clean up the cracks. And, last but not least, we're going to show you how to use your story to gather people, because the truth of the matter is that there's nothing stronger than being connected to people who just understand you as you are where you are, so you can stop explaining yourself. I want to remind you that, now that you're here, you are home and I officially welcome you to our family.

Speaker 1: 2:17

All right, let's get started Now. Let's get this party started, because whether you are just getting into coaching or you're like Tiffany, I have a coaching business and I don't know what I'm doing, or you spent the last year trying to total up whatever it is you did and you're like $2,448 per quarter is what I made. I want you to know that, even though there are many papers and statistics and studies that show that the average coach in the US makes $19,000, I mean plus or minus, maybe 10,000, that's the average of when I entered the industry and though I didn't know that I'd be coaching, I stand here before you almost a decade later and I'm like not only is there money to be made, but there was serious money to be made In this moment of building the damn thing I got to get you to wrap your head around. People will still pay you for what you know, what you know, and there are different modalities of coaching and I'm gonna walk through two things. One I'm gonna first tell you the different types of coaching methods or pillars there are out there and I have done them all. None of what I'll teach you will be coming from a place of like oh, I think this will work, or maybe, or sort of no, all of them. I have done all of them. I've made at least $50,000 in. Actually that's not true way more than $50,000. All of them I've launched from either the stage, from my home, from my studio now, like whatever it might be, and I'm gonna give you the good, bad and the ugly around the truth around coaching.

Speaker 1: 3:55

The last thing I'm gonna do, if you hang on with me for this episode, I'm gonna quickly tell you which method I would do so if I were gonna start tomorrow and start a coaching business today, in today's world. Because I'm gonna tell you what, when I started coaching, facebook Live won't even a thing Like you could not just go live on any platform, and then, when you could go live, it was on. You know what? I'm gonna leave that. I'm gonna leave that to the end. So you wanna stay with me, get out your pen and paper, because I'm gonna give you a roadmap and one of two things are gonna happen in part one, if you're not doing these today, these are easy ways that you could go. Man, I could teach my knowledge or sell my knowledge in this way bada-bing, bada-boom. Number one.

Speaker 1: 4:34

So the very first method of doing or producing coaching or being a coach is working with people one-to-one period. That means that you say to them hey, I've got a problem. I mean, you've got a problem and I know how to solve your problem and I can solve your problem for X amount of dollars over X period of time. One-to-one coaching is first, second, one-to-many. A lot of people try to start with this and they start with group coaching. But group coaching is not the way to start unless you're doing an event. And if you have an event around the corner or you're willing to put in the time, energy and effort to produce an event, then I absolutely would start with a group coaching or I would do something around group coaching, because that means that you can leverage your time, which I love leverage. You can leverage your time. You can teach multiple people at one time and you're gonna work with Maybe eight people you know in a virtual room or in person room, because you can technically today, launch some pretty dope ass things, whether they're virtually or in person. I don't want you to think that one is better than the other, because they both have pluses and minuses and I have done a lot with both. The third type of coaching, so there's one too many, and I said a group coaching because I in my mind there's under 20 people there, so you actually know their names, you can connect and talk to them like, like you know you got that going for you. The other modality, the other way of coaching for me would be Like membership style. That's where you are charging a lower price and you're putting a bunch of people not a bunch, but Multiple upon multiples of people in some form of a collective space in place and it's more One-directional, with the opportunities to add other elements that allow you to work with people, make on Fridays or open office hours, or you're teaching something every third Thursday of the month.

Speaker 1: 6:23

We have had success in this area as well. One of our most known programs or places that I love was, was, or is, strong. We currently today don't sell it, but do you might be listening to this at a time where we are putting it back on the market. I love strong. We helped so many people for under $200 and it was my first and strongest way of really being able to take you know, like what we do has a lot of value to it, so which we tip at any given time our group type journeys. They were priced between five and maybe 20k. So when we introduced strong to the market was my first time of being able to actually help people for under $200. I ran into. I ran into Trying to figure out who the right avatar was for strong, because we had everybody there, but without me seeing a clear way for the person to progress in the experience at that time and I mean progress, it doesn't mean that they're getting better, but they can progress in revenue. It was really hard for me to keep those models together and what I found is that the person who was in strong Typically wouldn't have come into our other programs like rise and rise mastery, which meant that we had to leave them in strong and build multiple things in order to generate more revenue so that we could increase the LTV lifetime value of our prospect. So coaching has.

Speaker 1: 7:50

Are there other ways of coaching? Totally, you could write a book tomorrow. Coach a gazillion people. Right, write a book, give it out to the world for 20 bucks. People are getting coach. I cannot tell you how many people have woke my ass on pages Simply by schooling me on the things that I was lacking in, slacking in or just behind in the times, and they did it inside of cover to cover on a book. Another way that you could coach people is that you technically could launch some form of a free channel Whether it be a tick tock or YouTube or Instagram or whatever it might be and today you could open your mouth and just coach people and you can ask them for donations. I mean, that didn't exist, hell. That didn't exist when I started coaching. But today you could open your mouth on Facebook for free. And there are these stores and people press these little buttons and they give you stars of money that's tied to their credit card. Man, I'm thinking of coaching people in another way. You know what I mean, just so I can get some of that money. But here's the truth. The truth of the matter is that today I don't want you to sleep on the different methods and ways that you can get paid on and coach the market.

Speaker 1: 8:51

If I were gonna start a coaching business tomorrow, so if I were going to start a coaching business tomorrow, I'm going to tell you exactly what I would do and how I would do it. You ready, here we go. So if I were going to start a coaching business tomorrow, I would A start one-on-one. That means I would start by helping people one-on-one and I would also reach out one-on-one in order to fill 10 people in my practice and I would charge no less than $2,000 a month to help that person Period. The reason and logic behind it is that I want to make sure that, if I have five sales, that I'm making enough money so I can pay my bills. Figure this thing out, make mistakes, pay for tools, resources and begin to think about getting a little bit of help. I would charge $2,000 a month. Now.

Speaker 1: 9:36

My very first coaching was one-on-one. I charged more than $2,000 a month and I'm only sharing that with you because you might be intimidated and thinking to yourself right now well, tiffany, you don't understand, I can't charge that kind of money Because I need to ramp my way up and depending like, if you don't have the expertise, you don't have enough proof of concept you might need to ramp yourself up and I respect that. But I also don't want you to just say to yourself well, you know, I have to ramp myself up in order to be respected, because at that time, when I charged way more than $2,000 a month, I only had my own little business acumen. At that point, I hadn't coached hundreds of people. I hadn't coached anybody. To be honest with you, I hadn't provided a strategy for anybody, but I did provide strategy for myself.

Speaker 1: 10:21

I at that time ran my own business, but I had acquired other companies so I had a little bit of knowledge. I took it into an industry the blue collar industry which wasn't far from what I was doing, and I tried my hand there. It turns out that I was pretty good at what I was doing, after making a lot of mistakes and getting it right. Fortunately, I left my transparency with the client. So when you take on one-to-one client relationships, especially if you're holding onto knowledge right now, that's like stupid good. If you're willing to just be honest with the person up front and be like hey, hey, hey, hey, hey, hey, I'm going to help you, I'm going to figure some things out. I guarantee you you will find a customer that is with you for life. Every single client or customer that I took on one-on-one, I, out of the gate, said to them hey, listen, hey, you listen, I am not perfect, but I will get it right, and you couldn't be in better hands. That reassurance allowed me to make mistakes, and I say make mistakes meaning like I needed to really figure it out and get it right Now, even though I charged $2,000 a month, I do want to give you transparently and tell you that I got on a plane and flew to the client.

Speaker 1: 11:18

So I don't want you to think that I sat at my home, collected $10,000 a month and I fanned myself. No, I did a lot of work and it was worth it because I got to see the business. So I fly every month? No, but I definitely flew, at least I don't know three to four times out of a six-month period, and that allotted me at their expense, but it allotted me to truly, truly help the customer and client, and that was my method of serving. You could do that today. What kind of knowledge are you sitting on right now that you can go get on a plane or drive down the street, go on location and help the person? The more contact you're going to have with the person, typically, the higher price you charge.

Speaker 1: 11:53

Fast forward Now. The very first time I launched a one to many, and I wish I mean I could probably talk about this all day, because my very first five years no, that's not true, my very first two and a half years was focused on one-on-one and groups one to many. At that time, though, I was also producing live experiences on a year two, two and a half. But my very first five to 10 clients was one-on-one reach outs to people who don't know me, and the majority of them at the gate were men, it wasn't women. So if you're sitting out there, you're like Timmy I don't have the confidence. I'm like imagine being a black woman in the state of North Carolina reaching out to white guys and black guys who don't know you, who probably have wives who are intimidated by you and not intimidated by you because of what I look like. They're just intimidated by you because you're another woman who's trying to be intimate inside of their husband's business.

Speaker 1: 12:50

For me I just needed to own my own confidence. I didn't know everything, but I did know how to build it. I know how to build a service-based business. I understand how to build programs and pricing and how to get inside of the hearts we're going to be delivering and to fine-tune all of the things that are quiet, that you really don't see inside of a company, like company culture and sales and marketing and acquisitions and whispers and drama Fast forward.

Speaker 1: 13:18

So if I were going to start today, yes, I would definitely do one-on-one. Second, I would absolutely do some form of a group. I would price the group under about $3,500. The reason why I would price it under $3,500? Because I want to make sure that if this person says I can't pay one-on-one price because one-on-one price is just no good for me, but I need you and I need your time, then basically I'm going to give them the same one-on-one experience. Break it up over, let's say, 10 people and split up the cost. So I would love to see the person start at a minimum of about $500 a month, but only if they're collecting $500 a month times, like, eight people. If they're doing $500 a month times two or three people, we're not doing that. The best way to launch something like that is to create an experience. Now, inside of DTDTU, we actually have an entire events module. I'll tell you, if you're not a part of DTDTU or you've never seen us teach on events, it is the backbone of how I built this entire thing.

Speaker 1: 14:23

I got on stage and then, when I wasn't on stage, I was producing my own events. Even though there are all these event planners who produce events for people and they often have these programs and I think they're great and fantastic and they have a lot of wins. How many events has that event planner done for them at their actual sales to sell their own products and services. Because for me, that's where, like, proof meets putting meets proof, proof meets putting. Some putting is in there. I know some putting word is in this sentence, I know it is. I'm positive. Proof is in the pudding. Yes, that's it, exactly so. Proof is in the pudding.

Speaker 1: 15:00

I've had to pay bills based on our ability to produce our own events, to sell our own products and services. So my knowledge is intimate. It's from the seat of a CEO and from a person who has had the responsibility of being responsible for other people. So it's not that I'm handed a big budget and said go make magic happen. Hell, if you handed me $100,000 and said, go produce the event, I'm going to do a damn good job too, and I'm going to talk to everybody and tell them how to make it a success. So start online Right now.

Speaker 1: 15:29

You could totally gather and get 12 people to join you on Saturday morning so that you can tell them why the drink water method is the best way to lose weight in this year. You could also so easy get people together and say this is why you need to do such and such with their spouse. Because if you gather people and you're able to teach to multiple people at once, you know what you do you increase your chances of making a dollar around the corner. If I spend one hour selling to one person one at a time that's 10 people it's 10 hours. But if I spend two hours by doing 20 minute lives over the next two weeks I did a 20 minute live every single morning telling people about the event that I'm doing two weeks from now. I gather 12 people or the 10 people there in the room. We have this experience over an hour hour and a half. I tell them about the product. I invite them to join me, to join me for $500 a month. You can't. There are people right now who are selling $2,000 products on a webinar and masterclass. I have sold a 35, 45, 100. I was going to say 5,500, but I don't know if that's true directly from a webinar or masterclass. So I know it's possible Now.

Speaker 1: 16:51

Doing things in group are good. The challenge with launching a group program right out of the gate is that if you only have three or four people, then you don't really have a group and what you don't want is you don't want the two people sitting and waiting until you get to the group. So that's no good either. You know what I mean. You really want to sit yourself down, focus on one to one, get to about 10, 15 people and then from those one-on-ones you can then launch a group. See how that works. If you're saying Tiffany, I am not doing any of that when I say, sis, I hear you, brother, I hear you, I hear you, that was like my southern attempt. I was doing something there, but I lived in the south and they confused me and that's why I live on the West Coast now.

Speaker 1: 17:31

So I for sure would say to you a membership has a great place. Let me tell you how a membership can live. You need people to have a membership and you don't want to have a membership with three people in it. That's awkward. So you're willing to put in the time to either build an audience for a couple of months. Two, you're willing to head to your Facebook and, one by one. Three, you begin to build a little list. Even if you only put 100 people on an emailing list, you can launch to 100 people on a list. All you need is 30, 40 people to go. Yep, I'll pay you 20 bucks. I'll pay you 20 bucks over the next X period of time.

Speaker 1: 18:07

For me, a membership? I don't recommend it unless you have an audience to launch a membership to. There's a bunch of people who say you can launch a membership with no money, with little, I mean, with no lists and yeah, you could. But I'm going to tell you from experience this is just a lot of work and unless you got someone else at home paying your bills like you got a sugar daddy and they're paying your bills at home where you can go, great, we made $1,500 and then wait for the next launch and let that compound at your broke and you're angry and you're frustrated because you can't pay your bills. Forget about all the fun you want. You need to be able to pay your bills. If you're going to do one of these things, you've got to be able to pay your bills. You have to be able to pay your bills.

Speaker 1: 18:46

Every single time I hear someone talk about like a method of making money and doing the next thing, I'm convicted by the fact that, yes, that's great, but if she can't, if she can't do it on her own, if she needs to hire a bunch of VA's and tech and all this other stuff and she can't pay her bills after doing it. I'm out the game. I don't even want to hear it, because everyone always forgets, especially in this coaching world. Whenever you hear these gurus, they're like oh yeah, well, I did this thing and then we were $200,000 in debt. You were $200,000 in debt, but why don't you tell people that you also had a trust fund? Come on, tell the rest of the story. You were $200,000 in debt but, yes, you have a best friend who lets you sleep on their couch for six months until you figured it out. I mean, every time I hear these stories, I swear to you, I lose my mind because I'm like give me a couch, let me have had a couch for six months where I could have gone and figured it out and you paid my bills.

Speaker 1: 19:38

Every single time I hear these ideas from these gurus and they lead great people who have really the ability to actually help other people. I hear them give this method of how to launch this coaching business and I'm like that is so ass backwards because it is not practical for a human. Maybe you're talking to humans that are not grown, who will want to start a life coaching business, and people who are not grown should not be starting life coaching businesses anyways. They haven't had enough life to coach people on Period. The second part of this thing is that, yes, absolutely, I could go and do a launch. And yes, I can do a launch if I'm technically inept. Oh well, didn't just go Google it.

Speaker 1: 20:14

It is not that easy for people who feel like they're behind or for people who just don't have it together. It's not that easy to just go run into tech and roll up your sleeves and take the weekend and figure it out. I would rather you be able to do something and start and make money with confidence. If you're like Tiffany, I'm transitioning from my job, do not quit your job before you do that. That doesn't make any sense. That's no good. If you suck at life coaching, if you suck at life coaching, you go do this thing, and that's no good thing either.

Speaker 1: 20:41

The third thing I'm going to say to you is that what I? Or? Third, fourth, I don't know what number I'm on 12th thing I'm going to say to you is that what I did do out of the gate, before I figured it out or knew what I was doing, I started building an audience. Now, today, you have the luxury of, like, all types of stupidly amazing tools, and I take a deep breath because it's like I remember the first time that I heard that you could livestream on the internet.

Speaker 1: 21:06

And the internet, for me in 2014, was like new to me. I was very behind, and I felt very behind because I didn't use the internet. I was young, but I definitely did not use the internet. I mean, I knew how to get to it, but I wasn't sitting there Googling things away. I still read books that I could touch, I still connected with people in that way, but then, out of nowhere, I learned that there was Facebook and that I could put up a video. Couldn't live stream, but I could put up a video and people could see who I was.

Speaker 1: 21:36

And I started doing this thing called a hundred days of gratefulness. And you know, on video you can't see it with me, but I'm going to tell you. I want to show you something real quick, because I legit had this. Someone reached out to me and they sent me a copy of the video just this morning. Here it is 2015,. It was Anna who sent it to me, so if you can see this on video. I want to show it to you. It's Anna who sent it to me and I couldn't believe it, because there I am. So, if you're taking the time to go, look at this on YouTube you should. It's a great learning lesson. Don't go. You don't have to watch the content, but I want you to see where I started. It was called the hundred days of gratefulness. She sent me number 63, day number 63. She did it literally just yesterday and it's 2015 and this is.

Speaker 1: 22:32

I posted them on Facebook and I just kind of sat there and said hi, everybody, my name is Tiffany Largy and the reason why I'm emphasizing that is because I started talking to people and I built a business and I built relationships and I built my foundation simply by sharing the things I knew. Now, what did I share? I would, I shared all the stuff that pissed me off. I don't want you to think for a second that I shared anything else. I shared all the things that made me mad. Sorry, I was just drinking water real quick, but I, I, I shared all the things that was making me mad about the world, about coaching industry, about the industry I came from, about family and, solely but surely I started building followers and thousands and thousands of followers. Later I say to you, man, I would have never in a million years had realized that I could share my voice and be valuable.

Speaker 1: 23:32

But I wasn't doing anything fancy. I definitely didn't do anything that was very tech. I mean, if you look at those videos, like I am hair not brushed you can't tell my teeth are not brushed. I'm wearing like Mickey Mouse shirts. You know, it's just like any old way that I came off for the day for the most part. But I did it and I got people to pay me thousands of dollars. I got people to start buying tickets to come see me. And even you know, as I think back and I say to myself, did I ever know that I'd be a great coach? No, I did not. I am a kickass coach. But I didn't use a certificate, a coaching program. I did not get certified through John Maxwell or Tony Robbins or any of these guru people.

Speaker 1: 24:21

I say guru people because they're all a consistent person who has a level of like there's. They're all a person who has a level of self decision that they are the person who is the guru who deserves to teach other people. They are no different or no better than you. You have the same knowledge, me and my confidence is what allowed me not because I was confident is because I made a decision to own my story. My story dictated that should. I didn't know everything, but I definitely knew how to help people, at least my people. And as you think about who do you need to serve on? Want to help women who are in their 30s with weight loss? No, you really want to help the women within their 30s that actually need you, because if you don't help those people, the women who need you, and you don't know who to find, like you find them with your story. So my story, my experience, the stuff that was pissing me off is the is the road or the roadmap that I used to get to what I want, and that was the people whose hearts identified and aligned with mine.

Speaker 1: 25:22

If I were going to start a business tomorrow, all over again, without anything, I'm going to tell you exactly what I would do. First, I would not go on Facebook and build an audience. I would never create content for Facebook. I would create a content on TikTok, and if TikTok is not around when you're listening to this, I would. I would record on. I would do. If it's not tick tock, I would definitely do YouTube, okay, so that's it. That's it, period on the subject. I'd create content and create it there, and how often I do it? Once every day at a minimum 10 days, 10 times a day, if I could.

Speaker 1: 25:56

The second thing I would do is I would create a landing page or use a tool like Calendly so that people could book time to talk to me and I could talk to them about working with me one on one. And if you're scared about a price, I would just to charge $1,000 for three months and charge the person $3,000. That's it. That's exactly what I would do. The third thing that I would do is I would rinse and repeat this until I got to 10 people. I made $30,000 and I had $10,000 coming in a month.

Speaker 1: 26:23

At that point, I would consider doing some form of an event, some form of an experience or whatever it might be, and then, at that point, I would be able to conquer and crush my fear of getting bigger, building a group, coaching or something else like that. That allowed me the opportunity to build a foundation, because you can't build a foundation with one on one. You can build a foundation with a group. You need a foundational set of fans, people who are die hard, people who are breathing in whatever it is you're teaching, so that way you have the foundation for a movement. I got very focused early on on building a movement and as soon as I had a handful of one on one and a handful of groups, that's when I got the confidence to move past that and to go build more things. So I don't know where that lands for you. I have no idea what that means for you, but I do know this. If you believe that you were meant to help and serve people, then I'm going to believe it right along with you.

Speaker 1: 27:22

The first thing you need to do is figure out what you're going to sell. Sell it to them. Only after you start building an audience. The third thing you need to do is to have the confidence to keep doing it over and over again. And the fourth thing that you need to do if you're any good, you need to focus on building a movement. That is when you start building a brand. That's when you go do websites. That's when you get fancy and put all types of things together, and after that that's when you knock on the door and you say, tiffany, what next, got it? Got it Awesome. Go build that. I can't wait to see and watch what thing you're going to build. This is going to be amazing. I hope that episode was amazing for you and you are closer to building the dancing.

Speaker 1: 28:08

I can't wait to hear what your thoughts were, what part you want and the action that you're going to go take, because the truth of the matter is that the person who wins is not the person who gets there first, it's the person who takes action first.

Speaker 1: 28:21

Now I've got to give it for you and it is at wwwstrapmusclecom. It is imperative that you run there and you see all types of goodies, starting with the seven must haves that you've got to put when telling your story. There is so much deliciousness awaiting for you. I would love nothing more than for you to go ahead and give us a thumbs up and a five star review on not just this episode, but this entire series of how do you build the damn thing, like always. If there's anything that we can do to make your weekday or month better, please let us know. And, more importantly, I can't wait to see you live, whether it's at Damm thing live, or in one of our communities, or maybe you're just hanging out with us on social media. What I know to be true is that I am meant to connect with you somewhere and I can't wait for that day to happen and, more importantly, I can't wait to see what you go.