One of the best ways to learn and grow is to share. So, today I have something really special that I want to share with you on exactly how you can make six figures a year consistently as a coach!
In Fact, it’s not just information; it’s going to be a transformative experience which will take your business to the next level! So, if you’re wanting to actually earn six figures in your coaching business, then this blog is for you!
Now, let me ask you this question first! As a coach or a consultant are you actually feeling stressed out that you can’t take sales calls confidently? Are prospects coming on the call with you but you’re not able to actually close them? Are you having self doubt?
Well we can solve all of these! Now, imagine a triangle and at the top most part of the triangle, are the buyers. Let us first understand that buyers make 3% of the market population at any given moment who are absolutely ready to buy from you right away.
However at the bottom of the triangle is 30% of the market who are not interested to buy from you no matter what you do or say. Now in the middle part of the triangle between the buyers and the non-interested people are the 67% of the market.
The big chunk in the middle of the triangle are the people who are interested but want to know more and understand better before buying.
- Some will get on the call with you and say “I am open to buy but tell me a little bit more!”
- Some might even say that they want to buy but not right away and maybe in the next three to six months. So these are the people that say, “Let me think about it!”
- Now there’s also people out there who want to buy but they’re not sure whether they need it right now or maybe in about six months to one year or they’re not even sure if you are the right person for them. So they are not sure but they are still open.
The First 3%
Now in the majority of the cases what happens is people focus on the 3% and they are like “I just need the sale right now no matter what!” But when you focus on this 3%, it’s just a small piece and not everybody is going to buy from you.
The sale can happen based on your conversion rate, based on how well you close, based on how well you connect and if you’re really new, then it’s a very small market that you convert.
So, what happens here is because people are ready to buy, they book the call with you right away and if you’re not good at closing, then you push away these people. Hence, in this market, you feel like people are booking the call but you are not able to close them though they are your ideal prospects!
The Next 67%
In the second market what happens is when they get on the call with you, they give you answers like “You know! Let me think about it. I want to know more details…” or they are like “You know, maybe not now. Maybe I’ll come back in six months!”
At this point, what people typically do is they start pushing these prospects in order to get the sale then and there. That’s when the prospect starts throwing objections and when you can’t handle that and you get a bit more savvy, that’s when you push them away and you start to appear salesy which is the problem.
Prospects don’t like it because they’re just there to get more information but when you don’t understand this market, you push them so hard and appear so salesy, that you push them away even though they are in your right market.
So, this leads to low confidence and over time you feel like you can’t close, your product is not good and eventually you end up having self-doubt.
When self-doubt kicks in, you are not able to demand the prices you actually want so then you lower your prices though you should not be doing it!
So, this 67% is the biggest market so tap into it because that’s where you’re leaving money on the table. Majority of the people tackle the 3% area but because it’s a small market and they can’t convert well or they’re not great at closing they end up pushing away the sale and they lose hope.
That’s when they go to the second market(67%) but because they become salesy, the market pushes them away and then at the end they don’t get any sales.
That’s when you start to feel that your coaching is not good or your market is not good enough and maybe you want to change your product and then you go to the next idea. That’s the problem. The problem is not with your Program or your coaching. The problem is with how you’re attracting your clients and how you convert them.
The Last 30%
Now the third part here is the 30% which you must just ignore. Because what happens typically here in this market is when they book a call with you or they’re your friends, that is not your real market.
That’s when your ego kicks in and you want to convert these people so you start trying to convince them to buy your product but the problem here is that this is not your market. You’re trying to justify, please them and convince them especially your friends and your family.
You start thinking about what other people are saying and you feel the need to validate yourself. That’s how this market is. So my encouragement to you is, don’t worry about this 30% of the market though it might be bigger than the top 3%, this is not your market so don’t waste your time with this market.
CONCLUSION
So focus on the 67% market area and if you really want to convert this market, not seem salesy, want to convert more sales and get at least a 6 figure income in your coaching business, I have a formula called the Client Success Formula! So, if this is something that interests you then get in touch with me and maybe we can work together and I can help you learn all these skills and grow in your market!
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About the author
Dev Sethi is the Founder & CEO of ‘Wealth On Command’. Dev is a Global Sales Award Winner and “Closer of the Year 2019” in High Ticket Sales across 150 countries. He is the 1st person across Australia, Asia, Africa, Europe and South America to ever win this award.
He empowers business owners and entrepreneurs to monetize their skills and maximize their sales by assisting them in building a high performance sales team. In the last 12 months alone his business has grown by over 560% and his clients have made over USD 5.2 Million in Sales. Dev is a Sales Champion and is now creating more Champions.
He speaks 4 languages fluently and is a loving father and a caring husband; born in Thailand, grew up in India and now living in Sydney, Australia.